Being a high risk merchant does have its challenges, especially when you are trying to secure a payment processor. The reality is that most payment processors don’t want to carry the risk that a high risk business entails. Typically, high risk businesses are more likely to attract chargebacks and fraud. This means that any costs associated with this will likely...
On July 20, 2020, The Strawhecker Group (TSG) and Visa Consulting and Analytics (VCA), joined forces to conduct a survey of 569 U.S. consumers to examine Visa’s spend data. The primary objective was to comprehend how the COVID-19 pandemic has affected consumer behavior, method of payment, and how habits may change post-pandemic. The “Key Takeaways” that were highlighted in the...
Collecting customer payments come with hidden security risks that an ecommerce business cannot ignore. Processing credit card payments can improve security and change how you take money from customers. Because you won’t be doing every bit of the transaction process alone, partnering with the right service provider further tightens payment security levels. How Credit Card Processing Augments Your Payment Process...
If your business is associated with a degree of risk, you need to obtain a high risk merchant account. This means you need to apply for a certain type of business bank account from a reputable high risk merchant processor. Let’s dig deeper into the topic and see who can help you with secure and low cost merchant processing services....
Business competition couldn’t be more intense in this day and age. No longer does a competitive edge have to do with whether or not a business can take credit and debit cards as payment. This should actually be the standard practice for any business that is serious about growing their venture to be profitable and scalable for years to come....
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,...
Now that most consumers are pacing the shift to the use of credit cards, it’s mandatory that you enable your business to accept these cards. These days, most clients expect to easily make payments anywhere they go—your online shop is not an exception. Remember, minus up-to-date payment alternatives, you won’t be able to compete favorably in the ever-changing marketplace, especially...
The so-called smart terminals are surging in popularity among business owners. These new POS terminals are tiny units, using much of the same technology that today’s most advanced smartphones and tablets are doing. The difference between these 2 types of terminals is that smart terminals have business-oriented design. So, they’re often equipped with card readers, can accept near field communication...
The initial discussions around Faster Payments date back to 2013. However, there is still much work to be done and there are several major challenges to be overcome. If you take the example of countries like the U.K., Australia, and Mexico, you’ll see they’ve applied a more prescriptive approach to the process of faster payments development. Standards and roles are...
According to the 5th annual ING International Survey, cash is fast becoming less popular among consumers in Europe, the US, and Australia. Alternative forms of payment are increasingly gaining more popularity. The survey included responses from 14.692 respondents based in 15 countries. Nearly 27% in Australia, 21% in Europe, and 34% in the US said they mostly preferred cashless payments....
