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Tailored Tips

Best Practices For Avoiding Chargebacks

When your customer disputes a credit card transaction and wins a chargeback against your business, you will lose out on more than just that particular sale. Most likely, you will also have to pay extra fees from your payment processor and even potentially other fines from the card issuers. Fortunately, there are several steps you can take to dramatically reduce the number of chargebacks disputes that hit your business.

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Forget Skimmers, Now Shimmers Are The New Threat

You have probably heard of skimming, a technology that criminals employ to obtain sensitive credit card information for the purpose of making illegal purchases. Although financial institutions and businesses have found ways to thwart these nefarious activities, evil-doers seem to always find another way to wreak havoc. Enter shimming, the new and even more disturbing way to steal consumers credit card information.

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Does Your Business Accept GSA SmartPay Cards?

We are contacted frequently by businesses and government vendors inquiring about needing the ability to accept GSA SmartPay Ghost Cards. The federal government has its own version of a credit card. The GSA SmartPay Card isn’t really for consumers so much as for federal employees. The General Services Administration SmartPay Card makes purchasing goods and services easier than ever before, and it contains some useful parallels for consumers interested in credit and debit cards.

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Emerging Trends In Mobile Payments

Shopping, social lives, and bill payments are just some of the many daily tasks that can be completed on a mobile device. Most people bring their devices with them everywhere, which allows them to manage their lives and even make payments on the go. Businesses wisely have started to make use of mobile payments in as many ways as possible for the good of their customers.

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Reviewing Your Merchant Account Could Lead To Big Savings

These days, accepting credit cards is a virtual necessity for any business, however small or large it may be. Dealing with a merchant services company comes with the territory. However, that doesn’t mean you shouldn’t regularly review your monthly processing statements to be sure you are keeping as much of your money in your pocket as possible. Here are a few helpful tips to consider.

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Why Are The Card Brands Dropping The Signature Requirement

The swipe-and-sign credit card ritual has been a staple of retail shopping for decades. In fact, it’s as American as apple pie. Swiping your plastic initiates the transaction. Signing the receipt authorizes the transaction. Yet retailers don’t employ teams of handwriting experts to verify the authenticity of these signatures. Neither do the major credit card brands. Further, even when fraudulent transactions do occur, checking for forged signatures isn’t realistic or feasible.

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Tips For Managing After-Christmas Gift Returns

The holiday shopping season — from Nov. 1 to Dec. 31 — is the most lucrative time of year for American retailers. This is especially true between Thanksgiving and Christmas Eve. In fact, the holiday shopping season is often used as a litmus test to assess the health of America’s economy.

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Protect Your Business From Gift Card Fraud

Most retailers love the idea of gift cards — and for good reason. However, the convenience that makes e-gift cards so popular among consumers and merchants alike also attracts criminals. In fact, e-gift card fraud is a nearly $1 billion industry.

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What Is Level 3 Payment Processing?

If your business is selling a product or service directly to a customer, then you’re operating a Business to Consumer (B2C) company. This means that when it comes to processing credit card payments, Level 1 processing is sufficient. However, if you’re selling products or services to other businesses (B2B), or to government entities (B2G), then the ideal and most cost-effective solution is Level 3 Payment Processing.

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Understanding Point-To-Point Encryption

Whenever a customer’s credit card is swiped, the data is sent to your payment processor for verification. This transmission is instantaneous. But because the information is maybe sent over unsecured Internet connections, it is still vulnerable to hacking. A determined thief can easily get his or her hands on this information and begin racking up fraudulent credit card charges.

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