It isn’t too hard to imagine but according to the 2013 Federal Reserve Payments Study, which tracked payment trends over a 10 year period from 2003 to 2012, it was found that credit and debit card purchases are sharply on the rise. In addition, the general-purpose cards, which include Visa, MasterCard, American Expression and Discover …
As a business owner, it may seem like there are a million decisions to make on a daily basis. One more important decision you will need to make is in choosing a credit card processing company. While this may not seem like a big choice to make, and unfortunately many businesses don’t take the time …
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The first rule of business is that things change. Business owner’s must keep up with the latest trends in technology, pricing, advertising, and many others. Staying aware and abreast of all of these factors is what makes you a successful entrepreneur. Another evolving area of business is changes in how customer’s pay for their purchases …
In an effort to provide increased security for customers, new credit card technology called EMV has been developed. EMV stands for Europay, MasterCard and Visa and refers to the creation of something called chip and pin or smart cards. Instead of a magnetic stripe, EMV cards store sensitive data on a computer chip embedded inside …
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October 1st, 2015 is just around the corner — is your business ready for the transition from the traditional magnetic-stripe cards to the new chip-and-pin “smart” cards? While EMV compliance is not “mandatory” for merchants, if you’re business is not ready to accept the new cards, then you will be assuming the liability for any …
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Unfortunately in today’s climate of rampant computer fraud, it’s not only major financial institutions or retailers that find themselves to be hacking targets. Small businesses are also vulnerable to having their customer payment data stolen. It may seem as though as soon as a system is updated with new security features, the thieves develop a …
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By now, all merchants have been notified that they will be required in October, 2015 to begin accepting emv cards. This new technology will require changes, such as upgrading pos systems to be able to read the chip imbedded in these cards. On the flip side, the benefits of this new, secure technology are many. …
With the rash of recent high-profile security breaches at Target, Home Depot, and Michael’s, consumers are worried now more than ever about their vulnerability to credit card hacking. If you find yourself the victim of a credit card hack, what should you do? More than likely, you have discovered suspicious charges on your credit card …
EMV chip technology is quickly becoming the new global standard for credit card and debit card payments. EMV technology was a collaborative effort on the part of Visa, Mastercard and Europay in an effort to combat fraud and protect sensitive customer payment data with enhanced security features. EMV card security features include microprocessor chips that …
Let’s face it, accepting electronic payments is an absolute must for businesses that wish to remain competitive in today’s economy. Once the only acceptable form of payment, cash has become increasingly less popular as customers opt for more convenient, and some may argue safer, forms of compensation, such as credit cards, debit cards, and echecks. …