“Business Tips” Posts

How Retailers Can Reduce Risk and Ease PCI DSS Compliance

How Retailers Can Reduce Risk and Ease PCI DSS Compliance

The retail industry is one of the most targeted industries for cyberattacks and data breaches. In fact, research shows that retail suffers more data breaches than the financial services, insurance and hospitality industries. Cybercriminals and hackers target retailers because they know they can easily get their hands on consumers’ personally identifiable information (PII), especially payment card data. As a result, we’ve all witnessed the headlines for large-scale data breaches at top retailers such as Target and Home Depot, which have negatively affected millions of consumers. These breaches have costly repercussions for retailers, who end up paying fines, legal fees…

4 Tactics to Increase Your E-Commerce Conversion Rate

4 Tactics to Increase Your E-Commerce Conversion Rate

If you sell products or services on your website, there’s probably one question that’s always at the forefront of your mind: “How can I get more people to buy my products?” The answer to this question lies in improving your conversion rate. As you hopefully already know, “conversion rate” is defined as the percentage of website visitors who take the desired action of the site. So, in the case of e-commerce, conversion rate refers to the percentage of people who visit your website and make a purchase. In general, an e-commerce conversion rate of at least 2 percent…

How to Calculate Your Credit Card Processing Effective Rate

How to Calculate Your Credit Card Processing Effective Rate

When a business is considering taking credit card payments, there are several questions that should be answered before they select a partner, including the following: “What are the terms of the contract?” “What equipment am I receiving?” “What level of support will I get?” “What are the risks involved?” However, there’s another question that most businesses tend to fixate on: “What is the cost?” The answer to this particular question can get quite convoluted. When you say “cost,” are you referring to the cost on your current Interchange-plus pricing plan of a downgraded over-the-phone transaction on an American Express…

How to Set Up Credit Card Processing for Small Business

How to Set Up Credit Card Processing for Small Business

You run a small business and are ready to take the next step: accepting credit cards. Congratulations! Whether this is your first business or a new venture you’re investing in, you might not be too familiar with credit card processing. Outlined below are four steps to set up credit card processing for a small business. We threw in our industry expertise for each action item. Step 1: Choose your preferred pricing plan Small businesses tend to have simple business models and low processing volume, so an uncomplicated pricing plan is best. Our recommendation is either Flat or Interchange-plus pricing…

Credit Card Processing Agreement Form: 3 Tips to Know

Credit Card Processing Agreement Form: 3 Tips to Know

A credit card processing agreement form can hide terms and omit specific rates that could do significant financial harm to your business if unaddressed. It’s your responsibility to make decisions that only benefit your business. So before it gets signed, sealed and delivered, take the following precautions and thoroughly assess your credit card processing agreement form. Credit Card Processing Agreement Form Precautions Credit card processing forms are not always as they seem. Typically these forms are filled with confusing language and unclear terms for individuals unfamiliar with the payment industry. If you fail to thoroughly read through a credit…