Credit Card Processing Blog

Consumers aren't wasting any time getting into the holiday spirit this year. New data shared by Adobe Analytics found that between November 1st and 11th, online shopping generated at least $1 billion every day. For comparison, there were only two days during the same time period in 2016 that failed to pass the $1 billion mark. This isn't the only indication that online holiday shopping is off to a very strong start. Revenue growth has jumped 19.8 percent year-over-year, versus only 4.8 percent in 2016. Based on these data points, Adobe Analytics now forecasts this season's revenue as tracking 1.8 percent higher than the initial estimate. While consumers are buying a lot online, they're not using the same devices they did in the past. Both smartphone and tablet shopping are up year-over-year, at 28 percent and 15 percent respectively. But shopping from a desktop computer has actually decreased year-over-year by a full 19 percent. The Holiday Shopping Boom Isn't Just in the U.S. The final quarter of 2017 is shaping up to be a great time for retailers around the globe. Although… Read more

Recently, Mastercard has been experimenting with selfie authentication. Although the idea of Selfie Pay sounded more like a publicity stunt than the future of authenticating credit card payments, a lot of interesting developments have occurred across the technology industry of payment processing over the last 20 months. One of the biggest developments is what Apple announced at the launch event for the iPhone X - instead continuing to use Touch ID to unlock and authenticate, Apple is launching Face ID, making strong headway in the biometrics space. Given this major change by Apple and the fact that Mastercard was ahead of the curve in its exploration of facial recognition technology, the credit card processor is officially moving forward with authenticating transactions through other methods that don't involve a signature. What You Need to Know About Mastercard's New Approach to Authentication Beginning in April of 2018, Mastercard users will not be required to sign receipts for retail purchases they make in the United States. Signing will be an optional decision that merchants can make based on their individual policies. In a statement about implementing this… Read more

If you don't know the differences between Bitcoin and the blockchain, be sure to read up on them - this new industry is changing online payment processing in a major way. Essentially, blockchain is a computer network that functions as a ledger system. This public ledger provides a way to keep perfect records of all transactions. The blockchain is also an important part of other cryptocurrencies, like Ethereum. Visa specifically has been focused on using the blockchain to provide real-time payments for businesses of all sizes. While Visa got a head start, it appears they're not the only major credit card company interested in this space. Recently, Mastercard announced their new Blockchain API. Let's take a look at what exactly that means for you as business owners. Understanding the Mastercard Blockchain API At the Money 20/20 Hackathon in Las Vegas, Mastercard announced this new payment service. Like Visa, Mastercard hopes their Blockchain API is used for B2B transactions. Their official press release included a statement about this solution providing "a new way for consumers, businesses and banks to transact and is key to… Read more

As a business owner, the sooner you get paid for the products or services you provide, the better. Promptly getting paid for what you sell can help solve many of the cash flow issues that plague so many businesses. In the past, getting paid in a timely manner was quite challenging. Fortunately, several changes in recent years have made it easier to promptly get access to the money you've earned. In 2016, same-day credit payments became a reality for many businesses. While that was great news for the third-party collection industry, not all transactions are conducted with a credit card. That made the news of same-day automated clearing house (ACH) debit payments a big deal. Keep reading to learn the specifics of this new development, along with some of the challenges that still exist. Understanding Same-Day Debit Processing This faster processing is made possible by the National Automated Clearing House Association (NACHA). As they explained, this technology was implemented with the goal of allowing financial institutions and businesses to acclimate to faster processing systems. In the not-too-distant past, it took two to… Read more

Data breaches have dominated news cycles recently, so if you own a small business, you should be doing everything in your power to make sure you and your clients don't fall victim to the next big breach. As incidents like the recent Equifax breach demonstrate, there's simply no way to guard against a major hack with 100 percent certainty, but you can have a plan of action ready in the event one occurs. Following the best practices outlined below can greatly reduce the likelihood of your business suffering a breach. Since the worst are those that occur and then aren't addressed for weeks or even months, knowing how you're going to respond is critical. Get a plan of action in place - start with these tips and build out your prevention and response plans today. 1. Stop Additional Damage The most important step to take after discovering your business has been breached by a hacker is to prevent additional attacks and damage. Because this type of incident occurs when a hacker discovers a vulnerability within your business, it's important to lock everything down. Have a message prepared that you can share through… Read more