Data security is serious business, and failing to keep your customers’ data secure is not only bad policy, but can be very expensive in the event of a data breach. Many of you may have heard of the various standards for data protection, for example, for health records...
In the most recent years, you can already see how the purchasing behavior of customers continues to lean towards cashless payments. More importantly, the industry already predicts a booming trend towards cashless payment...
Every year, the Christian faith celebrates a day that reminds them of the resurrection of Jesus after his crucifixion. This event is called Easter, which is also the commemoration of a 40-day season of fasting, sacrifice, and deep prayer.
As upcoming merchants, you probably already heard the terms void, refund, and reversal when discussing payment transactions. Generally, all three are transaction methods that are initiated by the merchant and are meant to return money to the customer.
Merchants old and new usually have a one-track mind when it comes to their business, and that is to generate profit. One key component is to equip yourself with the capability to accept payments how, when and where your clients need. With the rapid expansion of...
If there is one thing that is definite in our very dynamic market, it is that payment processing and the ecosystem around it will always be evolving. Times change, our customer’s needs change, and the way merchants will serve their customers will also change in order...
Gone are the days when customers would just rely on cash or their handy cards to make payments. We are now entering a very exciting stage of making purchases where mobile and online payments take center stage. Mobile payments encompass another payment method that...
Merchants should think of their business enterprise as a well-oiled machine: for it to run effectively and efficiently, all the best pieces must fall into place. We mentioned in one of our previous blogs that one of the most important pieces of the business puzzle are...
Another difference between debit and credit cards are the perks they offer. While credit cards charge higher fees, they offer rewards unavailable to debit cards such as discounts, travel points, and even cashback.
When we talk of merchant services, we refer to a range of financial services for business: the acceptance and processing of electronic payments; the behind-the-scenes process that allows merchants to accept payments; the service providers merchants work with; and the hardware and software needed to run the entire process.
Form 1099-K is used to report income generated from Payment Card and Third Party Network Transactions. This was created under the 2008 Housing Assistance Tax Act to help ensure that businesses, particularly online retailers, are accurately reporting their income for tax purposes.
PCI-compliance is a vital step towards your business success, and that is why you should complete the SAQs and AOCs before the year ends. You do not only hold proof that you are PCI-compliant but you also avoid paying non-compliance fees from merchant account providers by being non-compliant. You can be charged up to $40 per month if you are non-compliant.