“Service” Posts

Fitbit Pay and the Rise of Wearable Payment Technology

Fitbit Pay and the Rise of Wearable Payment Technology

If wearable technology is simply a fad, it’s certainly doing a good job of sticking. According to the Kleiner Perkins 2017 study on Internet trends, 25 percent of Americans own a wearable device, and 102 million wearables were shipped globally in 2016. No longer considered a mere toy of the modern age, wearables are increasingly popular and functional. But first, what is wearable tech? By definition, wearable tech (or “wearables” for short) are gadgets that can be worn and offer the wearer a heightened level of connectivity due to smart sensors and built-in web and smartphone connection. Businesses, which…

6 Questions to Ask If You Don’t Understand Your Merchant Statements

6 Questions to Ask If You Don’t Understand Your Merchant Statements

We understand that trying to read your merchant statements can range from frustrating to downright impossible. We can relate to this even though our risk department reviews hundreds of merchant statements every month. Our combined years of experience analyzing merchant statements have allowed us to identify the following six questions which we encourage every business owner to consider. Rather than surrender to the complexity of your merchant statements, do what’s best for your business and seek answers to any questions you have. Not doing so could cost your business thousands of dollars in hidden fees and unethical billing. Do…

The True Cost of Paper Checks

The True Cost of Paper Checks

Since 1865, checks have played a pivotal role in the United States payment system. Checks were the only non-cash option for the first 100 years of its existence, until credit cards were introduced in the 1950s. As payment technology has evolved, the need for checks has diminished — but the costs have remained. Here are three ways paper checks could be costing your business more than you realize: Money – According to NACHA, it costs on average $1.22 to process a paper check, which accounts for manpower and various other costs. Overall, checks are “a burden on the economy,” according to…

5 Essential Features of a Payment API

5 Essential Features of a Payment API

If you’re an independent software vendor (ISV) who is evaluating payment APIs, you have much to consider. There might be a number of Payment Gateways seeking integration with your software; or maybe you want to offer your customers several partners to choose from, but you don’t know where to start. It’s important to integrate with the right payment provider because integrations take time to build. You don’t want to invest months of development work into a provider that will harm your customers with unethical billing practices, poor service or outdated technology. A bad experience for your…