Credit Card Processing Blog

Sooner or later, just about any business that invoices clients is going to have to deal with someone not paying. Although this is the last thing you want to have on your plate as a company owner, it's an unavoidable part of dealing directly with paying clients. Since it's such a common and widespread problem, we want to take a look at five different options available to you for dealing with a less-than-responsive client. Here's what to do! 1. Be Proactive About Prevention Regardless of what you do, you're going to encounter clients who don't want to pay on time, who are too busy to keep track of their understaffed accounting department, or who may have encountered some other problem along the payment process. However, there are steps you can take to make these encounters the exception instead of the rule. First: go with your gut. If you get a bad feeling during your initial discussions with a client, passing on their business may be the best thing to do. Next: be sure to sign a contract that has clear payment terms. And… Read more

Have you heard of selfies being used for credit card authentication? Mastercard started testing this program late in 2015, along with other biometric authentication methods, like heartbeat readers and eye recognition. Fast forward to the present and Mastercard is continuing to invest a lot into their biometrics efforts. In a recent interview, Ajay Bhalla, Mastercard's President of Global Enterprise Risk and Security, discussed this topic in detail. He said with the incredibly high number of passwords that internet users are supposed to remember, it's not surprising that over half of consumers use the same password across multiple websites (despite it being a major security risk.) Bhalla believes that it's up to companies to give consumers better ways to securely access all of their online accounts and information. He wasn't surprised at a study which found that 93 percent of consumers would prefer to use biometrics instead of passwords. What's interesting is this desire is actually mirrored by the banking industry. A full 92 percent of banks surveyed said they had the same preference. Why Isn't Biometrics Usage More Widespread? Given that both consumers and banks… Read more

Although we've already made it to summer, there's still plenty of time to start a business this year. If you've been thinking about this type of opportunity for a while, the best thing you can do is take action. Starting a business can be one of the most rewarding decisions you ever make. However, starting a business presents plenty of challenges, so it's important to make sure you've got clear business goals and metrics for success and failure. Since growing a business requires a lot of hard work, the right strategy and at least a little bit of luck, we want to cover five essentials you need to get started on the path to success. 1. The Right People Y Combinator is a startup accelerator that has made seed investments in companies like Reddit, Dropbox and Airbnb. While they fund a wide range of businesses, they prefer to put their money behind startups with at least two founders, since everything that goes into building a successful startup is almost always impossible for just one person to handle. Even if your business idea… Read more

Merchant account fraud is a big deal. Although this isn't our first time discussing the issue, online fraud continues to be a major problem for businesses of all sizes. In just the last year, Snapchat, the University of Central Florida and even the IRS have all been hit by serious data breaches related to fraud. In the case of Snapchat, around 700 current and former employees had sensitive information stolen, including names, Social Security numbers and payroll data. With the University of Central Florida, a data breach affected approximately 63,000 current and former students, faculty and staff, compromising their Social Security numbers, full names and student/employee ID numbers. And what about the IRS? Over 700,000 American taxpayers had their personal information compromised through the organization's “Get Transcript” system when it was hacked by a Russian-based criminal operation. Other high profile cases of online fraud include 21st Century Oncology, Yahoo and Weebly, among others. Given that many of the companies struck by significant online fraud specialize in technology, it's easy to see why all businesses need to take this type of… Read more

As a business owner, chances are you rely on a number of suppliers and other partners to keep what you do running as smoothly as possible. When you identify a need in your business, quality and reliability are two important factors to look for in whomever you expect to fill it. Price is also a very important consideration. Although there are exceptions, a general rule of thumb is avoiding the absolute cheapest option you may find. This is because suppliers and vendors who market themselves by having the lowest price generally lack in other important areas, like quality and reliability. Regular Reviews are Easy to Overlook When you have a problem with a vendor or other type of partner, it's natural to escalate that issue to the top of your to-do list. But when things are going relatively smoothly with your vendors, it's easy to put doing regular reviews on the back burner. Given all the different priorities competing for your attention on a daily basis, overlooking regular reviews is completely understandable. However, even though they may not be immediately evident,… Read more