In our rapidly changing world of finance, getting paid securely and efficiently is always a top priority for all parties involved in a transaction. eChecks, also known as electronic checks, are yet another payment method that aims to fulfill these goals. Electronic checks are an alternative to traditional paper checks and were created to be processed digitally. In order to...
While many are looking forward to the holidays, taking a much-needed respite from the woes of the world, scammers are gearing up for a new holiday season of swindling. This year, the Better Business Bureau (BBB) has published what they call their “Naughty List” with the top scams that can catch shoppers off guard this holiday season. Social media platforms...
In today’s business climate, it always pays to offer a variety of payment methods to suit every consumer’s preference on the market. Offering convenient payment types ensures that both customers and small businesses keep the money flowing easily and securely. An eCheck Defined The best way to describe eChecks is that it is essentially a “digital version” of a paper...
On August 1, 2021, Square broke the news that it was purchasing Afterpay, an Australian fintech company for $29 billion in stocks. Square’s CEO, Jack Dorsey, said: “Square and Afterpay have a shared purpose. We built our business to make the financial system more fair, accessible, and inclusive, and Afterpay has built a trusted brand aligned with those principles. Together,...
In this increasingly digital and cashless economic world, more e-Commerce businesses must be fully adept to accept both credit and debit card payments online. In order to accept card payments online, businesses need to open a merchant account. If you happen to be a high-risk merchant, let’s just say that this endeavor can get a bit tricky. Understanding High-Risk Merchant...
According to Digital Commerce 360, consumers spent $791.70 billion online with U.S. merchants back in 2020. This was a staggering increase of 32.4% based on the U.S. Department of Commerce numbers. This is the highest growth that U.S. e-Commerce has seen in the last twenty years. It was more than double the 15.1% hike in 2019. The COVID-19 related surge...
The integration of digital transformation across the healthcare industry has proven to be quite challenging. Providing a “consumer-centric experience” has also seemed far-fetched especially during these challenging times of the COVID-19 pandemic. The healthcare industry is also fraught with roadblocks, like regulatory requirements, compliance policies that are complex, and a convoluted IT structure. According to the 2020 Annual State of...
When a business has been determined to be high risk, it means that credit card processors have deemed this business prone to a higher than normal rate of chargebacks and an elevated risk for financial failure. Payment processing is also at a higher risk, especially in the e-Commerce space. Merchants have assumed this risk, however, payment processors and acquirers stand...
Launching a new business is a great undertaking with plenty of challenges on the journey to success. If you are looking to set up an online business, there are more complexities that you must be aware of. Since the only way to get paid online is via a credit or debit card, then you will need a merchant account to...
Cryptocurrency has been lauded for its many innovative benefits: its confidentiality, security, and flexibility. Unfortunately, things may have taken a turn for the worse as this digital currency faced one of its biggest challenges. A total of $300 million was embezzled from cryptocurrency accounts in 2020. Most of these scams were made up of phone number hijacking, fake crypto exchanges,...
