If you are in business for yourself, it is imperative to have a way for your customers to pay you for your goods and services. Choosing a reputable credit card processor positions you to accept both credit and debit card payments either online or at point of purchase. As more and more consumers opt for carrying more plastic than cash,...
As a business, your ability to act in your customers’ interests is paramount for return business. Obviously, the first level of this is to provide honest, dependable and high-level services or products. But, in today’s world of growing fraud, that isn’t enough. It seems almost like every other day there is a data breach attached to a big name business....
Equifax Inc. must pay victims of its breach in 2017 at least $575. Mostly, this must be done in the form of free credit monitoring. This was the very breach, because of which the sensitive data of about 150 million people was hacked. To know the latest developments concerning the Equifax breach and discover the right processor to accept payments...
You might have heard about the New Jersey bank that handled $20 million for a firm connected with a Venezuelan laundering scheme, mightn’t you? If you’re interested in more details concerning the case and are looking for a reliable payment processing company, you’re at the right place: just keep on reading this article. Venezuelan Laundering Scheme First of all, let’s...
Priority Payout Corp. and the owner of the payment processing company are banned permanently from engaging in processing or assisting in it, and must pay a contempt judgment of $1.8 million, according to the Federal Trade Commission (FTC). Priority Payout Corp. owner, Thomas Wells, has agreed to settle FTC charges that he and his company repeatedly violated a 2009 court...
The Federal Trade Commission (FTC) estimates that consumers lost $24.6 million from tech-support scams in 2015 and 2016. The average consumer loses about $280 on each scam. Last year, the FTC received nearly 143,000 reports about tech support scams. But, an even more revealing statistic is that the FTC found that people 60 and older were five times more likely...
The government of India is a leader in biometric adoption for payments. More than 1 billion Indian consumers have established a digital identity with the government, which requires users to submit fingerprints, iris scan recognition, and a photograph to collect social welfare payments. Collecting this biometric information took fewer than 10 years, and now India has the tools to identify...
The regular IT and security failures at British banks make it a longshot to become a cashless society any time soon. British banks experience 1.2 IT or security failure each day, according a comprehensive analysis by consumer group, Which? The glitches prevent customers from making payments. During the last nine months of 2018, the consumer group found that 302 IT...
Any security measure is only as strong as its weakest link. The same rings true for biometrics security. Biometric data, often considered the most secure, however it is only as secure as the system that protects it. Biometric data, which uses fingerprints, visual cryptography, and facial recognition technology to make a secure online transaction or access other confidential information,...
In today’s digital world, encryption schemes are everything. Are you absolutely sure your business is protected? Recent reports might cause you to take a closer look at how you’re protecting your customers’ sensitive information. At the point of sale, there are two encryption options: PCI-validated point-to-point encryption (P2PE) solutions and nonlisted encryption solutions, which lack several key requirements. The PCI...
