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The Future of Card Readers

The Future of Card Readers

Not long ago, businesses were processing credit cards with a carbon copy imprinter. Since then, the payment processing industry has taken major strides in advancing its technology, and it’s only changing quicker these days. The combination of smarter card reader technology and crafty fraud tactics means more shifts in credit card processing equipment for businesses to consider. Here, we outline three trends for businesses to keep in mind as they invest in newer (and more expensive) card readers: Card Readers Must Be EMV Capable By now it's likely you're aware that mag-stripe cards are phasing out and EMV-chip cards…

Evolving Your Retail Credit Card Processing to Meet the Needs of Your Business

Evolving Your Retail Credit Card Processing to Meet the Needs of Your Business

While it might seem that a credit card processor is simply a means for collecting and receiving payments from customers, your choice of provider can impact your business in all sorts of other ways. Depending on your business needs, here are some key things to look for in order to find the best credit card processor to meet your unique requirements. Do You Sell Subscriptions Or Other Types of Regular, Ongoing Sales? Look for a Solution With Recurring Billing While subscriptions and other ongoing billing models are a great strategy for retaining business and growing loyalty, it can be challenging…

How Does ACH Payment Processing Work?

How Does ACH Payment Processing Work?

ACH payment processing operates via the ACH network. Every ACH transaction goes through a seven-step process involving six ACH payment processor entities. These entities include the originator, the receiver, the originating depository financial institution (ODFI), the receiving depository financial institution (RDFI), an ACH operator and the National Automated Clearing House Association (NACHA). Below, we define each entity involved and the technical steps to ACH payment processing. ACH Payment Processor Entities Originator: An individual, corporation or other entity that initiates a transaction using the ACH network. Receiver: An individual, corporation or other entity that receives an ACH payment. ODFI: A financial…

5 Best Practices for POS Credit Card Terminal Security

5 Best Practices for POS Credit Card Terminal Security

Maintaining a secure business doesn’t just benefit you; it also benefits the customers who frequent your business and pay for your services. Simply locking your cash drawer isn’t enough if you accept credit card payments. Fraud costs businesses and consumers alike. According to the Federal Trade Commision, consumers reported over $744 million in fraud complaints in 2016. These complaints can impact the buyer perception of businesses that are breached or neglectful of fraud occurring on their premises. By implementing a device security protocol, you can stay on top of your business’s PCI compliance and actively prevent fraud.…

3 Ways to Take the Pain Out of Electronic Payment Processing

3 Ways to Take the Pain Out of Electronic Payment Processing

It’s getting harder to ignore the lure of offering customers electronic payment processing: with steady year-over-year growth, e-commerce is expected to become the largest retail sales channel in world within the next few years. But while the convenience of shopping online might be one of the factors fueling the need for electronic payment processing, for merchants, accepting payments remotely can seem anything but. Electronic payments refer to all non-cash payments that are processed online, including credit cards, debit cards and ACH (Automated Clearing House) transactions. Such payments have a few requirements: you’ll need to be able to securely…