Credit Card Processing Blog

Last year marked the first time there was more digital data theft than stealing of physical assets across businesses. As PYMNTS.com explained, slightly less than 30 percent of businesses reported they suffered information theft, loss or attack in 2017. Around 40 percent of executives reported their companies suffered a virus or worm attack, while the second-most frequently cited attack was email-based phishing. Even though this is a significant point to reach, it's not a new trend. Cyber crime and data breaches have been on a continued rise since 2012, with 86 percent of firms worldwide reporting at least one cyber crime incident in the last 12 months. There are a number of reasons for this massive increase, including the effectiveness of EMV at reducing in-person fraud. It's likely this issue will continue to affect even more businesses during 2018, so take a look at these five cyber security resolutions you should strongly consider implementing in the coming months. 1. Use 2FA as Much as Possible 2FA stands for two-factor authentication. This technology creates an additional layer of protection beyond your password… Read more

It doesn't seem that long ago we were spending a lot of time writing about the EMV liability shift across the United States. But even though this transition still feels fairly recent, it's already been over two years since it officially took place. If we look back to October 1, 2015, there's no question the country has gone through a lot of changes. From getting a new president to cryptocurrency hitting the mainstream, we could put together a lengthy list of significant changes that have affected the payment industry. And even though the EMV shift has been two years in the making, there's still many changes expected in the coming year. A Refresher on EMV EMV stands for Europay, Mastercard and Visa - also known as cards with a chip. Instead of requiring a swipe, they can be inserted directly into a terminal, with the ultimate goal of reducing fraud in retail settings. The Impact of EMV Cards Based on all the data available, it appears these cards have accomplished their main goal. Merchants that completed the chip upgrade have seen… Read more

At the very start of 2018, Android Pay announced the ability for users to add PayPal Business Debit Mastercard. While this wasn't a huge announcement, it did signal a focus on expanding this product. And based on a second announcement that followed, Google has very big plans for this product in 2018 and beyond. Recently, it was announced Google is bringing together all their different ways to pay, including Android Pay and Google Wallet, into a single brand called Google Pay. While this might make it easier to pay with digital wallets, it could have farther reaching effects for your business and customers. More about Google Pay It's no secret that Apple is one of Google's biggest competitors. With this big shift, Google wants to gain a stronger foothold in the payments space. According to their announcement, Google Pay will work online, in store and across Google products, as well as peer-to-peer, something that's driven huge growth for companies like Venmo and which was recently integrated into Messages by Apple. In addition to sharing this information with consumers, Google also let developers know… Read more

At the beginning of January, American Express let its shareholders know that their Q4 earnings were likely to take a $2.4 billion hit due to recently passed changes to U.S. tax laws. While there's been a lot of talk about lower corporate tax rates, the transition involves the end of a law that allowed U.S. taxes on earnings held abroad to be deferred until they're brought back. The new tax code will now hit these cash holdings at a rate 15.5 percent. Although most small businesses don't have to worry about overseas holdings or being hit with a ten figure tax bill, this story demonstrates the ever-changing nature of the tax code. So if you want to ensure that you're on top of the tax obligations for your business and don't get hit with any surprises when April arrives, here are three tips that are sure to help you out. 1. Higher Contribution Limits and Annual Gift Exclusions If you contribute to an employer-sponsored retirement plan like a 401(k) or IRA, both you and your employees should be able to… Read more

Q4 is the biggest time of year for retailers. While there were some questions leading into the latest holiday season, it turned out to be a great quarter for retailers, both online and offline. Now that we're in the new year, sales activity tends to stay slightly elevated thanks to people spending holiday cash and gift cards. In addition to continued spending, there is one less pleasant issue that retailers have to deal with during this time of the year: an increased number of returns. Since so many of the purchases made during Q4 are gifts, it's nearly impossible to avoid some of those recipients bringing their items back. Retail industry figures indicate that as many as 23 percent of all returns for the year happen during the period following Christmas. Although this may seem like a big damper on the sales boost provided by the holidays, it doesn't have to be a big problem for your business. To help you navigate this influx of returns and stay on the right track for 2018, we want to share some of… Read more