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Nothing can be more frustrating than trying to run your point of sale system through a separate credit card processing company.
The likelihood of errors and payment malfunctions increase, as does the time it takes to manage two different payment processing companies.
Nothing ruins a visit to a restaurant or retail store like difficulty accepting credit card payments.
So is there a solution to this problem of running your point of sale machine and your payment processing through the same company?
I’ve talked a lot about PCI Compliance on this blog, primarily because it impacts all of our customers’ monthly processing statements.
Merchants are charged an extra monthly fee for every month they do not complete their PCI Compliance requirements for keeping customer data secure.
Once a year, your business is required to complete a questionnaire from your processor. If you don’t complete the questionnaire or you are not keeping sensitive payment information PCI compliant, you’ll receive a monthly non-compliance fee until you complete the questionnaire.
If you want to read more about the questionnaire and how to answer the questions, you can read more here. However, there’s are pretty simple rules to follow to become PCI compliant.
Selecting the right payment processing solution can be confusing. One of the most common misconceptions is understanding what the difference is between a payment gateway and a virtual terminal.
Aren’t they the same thing? Well no, but for your business to accept online payments with ease, you’re going to want a payment gateway.
So let’s talk about payment gateways, virtual terminals, and what they do for your business.
Everyone loves feeling like they’re in on an exclusive deal, so why not offer a loyalty program to your customers?
Lots of small business are finding the benefit of implementing loyalty programs.
You can use loyalty programs a few different ways, but here are some of the easiest ways to offer incentives.
EBT stands for “Electronic Benefit Transfer”, and is just another form of payment, so why wouldn’t you accept it?
EBT is basically the new replacement for Food Stamps, which work as a prepaid card for individuals to buy necessities.
Sometimes it’s not a matter of if you should or shouldn’t take EBT payments, but if your business even qualifies.
EBT payments come with some requirements your business needs to meet before you can start accepting this form of payment. But it’s worth seeing if your business qualifies since it draws in additional revenue.
So what kind of requirements does your company need to meet to accept EBT benefits?
Do you know the difference between signature or PIN debit transactions?
Debit cards are often the middle child of payments processing, critical, but overlooked. Most merchants only focus on the credit card and ACH rates or don’t realize debit cards are priced separately by payment processors.
But debit cards are the most used compared to other payment types, and your price points will vary depending on how you process the debit payment.
They say patience is a virtue, but waiting for money to be deposited into your merchant account doesn’t make you feel particularly virtuous.
Waiting extra days to see that money hit your bank account can be agonizing, and sometimes you need access to that cash quicker than a few days.
So many business owners wonder if they should try and apply for next day funding. But many have no idea what it costs or if it’s beneficial to their business.
Debit cards and credit cards are often misunderstood to be the same thing, but in regards to how they are processed and charged, they are two separate animals.
When you’re signing up for payment processing services, you might make a mistake by assuming your debit card processing rates will be the same as your credit card processing rates. However, they are not.
So how can you know the different costs associated between the two?
Fundraising is the lifeblood of all non-profits, and contributions are necessary to continue your work. So how can you broaden your horizon and work to gain more donations?
Facebook could be your answer.
In comparison with the other social media sites, Facebook has been ranked as number one when it comes to effective outreach tool for gaining donations.
So what steps should you take to get donations through Facebook?
A lot of small businesses are still struggling with the chip cards that came out a couple of years ago across the U.S. There are still questions and people can easily fall victim to fraud.
In our industry, we have a lot of merchants lose some money due to the switch to EMV technology by not recognizing the best procedures when dealing with the new technology.
One of the biggest mistakes we see small business owners make is trying to manually enter in a chip card.
It’s been over a year since the EMV liability shift was pushed onto merchants for theft, in hopes of adapting to the new chip card reader technology. Chip cards (which have been used in Europe for...
Owning an E-Commerce site is wonderful, isn’t it? You don’t have to worry about opening and closing a store every day, and have certain freedoms in managing your business.
Although running an E-Commerce site sounds like a breeze, handling payments can dampen the experience.
A lot of online stores handle payments by manually keying in a customer’s credit card information on a credit card terminal, an online virtual terminal, or a website shopping cart.
This typical method can lead to lots of paper to keep track of, along with the risk of payment information being entered incorrectly.
Whether you received an email notification from your processor, or noticed unfamiliar fees on your credit card statement, you’ve heard about it. PCI compliance is a bit of a confusing topic for merchants since they aren’t really sure what they should do to be compliant. Most probably think they are keeping their customers payment information safe, but probably aren’t in the eyes of the processor.
As 2016 comes to a close and the Holiday season is upon us, we wanted to go over some key guidelines to keeping your customer's data safe. Here are our tips for PCI Compliance security around the...
If you read our previous blog, you know small business owners don’t like credit card processors. Since credit cards are essential for any business to be successful, we decided to explore the top...
If you mention credit card processing, you’ll often elicit groans and possible rage from merchants. It’s one of the most loathed businesses with a sordid reputation that puts many a business owner...
The future is bright for online stores! Technology keeps evolving rapidly, making it easier than ever to open your own business and sell products online as an E-Commerce store. Using a payment...
Who loves looking over their payment processing rates? Researching and trying to find a payment processor who will give you fair rates is labor intensive and tiring. As tempting as it is to focus...
It’s one of the first questions asked by merchants. “How long does it take for funds to be deposited in my merchant account?” Even though it’s a common question, there’s no for sure one answer we...
We talked about chargebacks previously, but there’s a subject that appeared lately known as chargeback protection services. We’ve seen a lot of these businesses pop up, and they claim to offer...