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In the merchant services industry, the scene is so active and almost saturated that merchants no longer felt the need to fear that a certain company will monopolize the industry, which sometimes leads to underwhelming services that are left unchecked.
With a significant portion of merchants switching to internet and cloud based processing, there is a greater risk of data breach. The Payment Care Industry Security Standards Council (PCI SSC), the same organization that creates the standards for PCI compliance, has released a Small Merchant Guide to Safe Payments. This document covers some of the risks that small businesses face and provides basic guidance on how to mitigate risk and make your organization a less desirable target.
Chargebacks can be the bane of most businesses’ existence. Although there are certain steps that can be taken to avoid chargebacks, they have become prevalent today, especially with the growth of technology and the internet.