EU Requests $2B As A Public-Private Cybersecurity Investment

Jul 21, 2016

The European Union is eager to cooperate with private companies to fund cybersecurity research. Computerworld reports the EU has already planned to give €450 million ($500 million) for this purpose but is requesting the industry to make some contribution to bring the total amount to $2 billion.

The European Union on Cyberattacks

According to a recent report released by the EU’s executive body, the European Commission, cyberattacks could destroy the digital single market, as well as the economic and social life as a whole.

The cybersecurity public-private partnership (cPPP) aims to facilitate global research into cybersecurity. Also, it focuses on helping develop a variety of security products and services for various industries such as health, energy, finance, and transport.

With this in mind, it is critical to turn to a trustworthy payment processor like eMerchantBroker to get the top protection from payment transaction fraud. EMB is voted the #1 high risk processor in the US and boasts an A+ rating with the BBB. EMB offers exceptional payment processing services to help merchants protect their business and reduce chargebacks.

New Cybersecurity Solutions

In 2015, the European Commission intended for initiating security protocols between member states and EU lawmakers through its Network and Information Security Directive. However, the details of these security plans were being argued because several regulators were not sure which companies should be kept accountable for the rules.

The goal is to use search engines, social networks, cloud computing services, and eCommerce sites to inform authorities about potential breaches. According to Andrus Ansip, the European Commission’s digital chief, the new measure will allow for building consumers’ trust in the cross-border and internet services they use at home.

The directive is put forward at a time when the world faces increased concerns over cybersecurity threats and accompanying data breaches. Ansip notes that the Internet is borderless, and if there is a problem in one country, it can spread to other European countries as well. Thus, he believes, new cybersecurity solutions should be applied throughout the European Union. He considers the agreement a crucial step in this concern.

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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