Credit Card Processing Blog

A few months ago, we covered Walmart suing Visa. The issue at the center of this lawsuit was transactions being processed by signature or PIN. Not long after, Home Depot sued Visa and MasterCard. In their lawsuits, Home Depot stated that both of the card companies are exposing retailers and their customers to hacking. Since those suits are all still underway, we want to highlight two other interesting legal matters in the credit card processing space. The first is a lawsuit brought forward by Kroger. Similar to the Walmart lawsuit, Kroger alleges that Visa not only fined the retailer for allowing customers to verify transactions by PIN instead of signature, but also threatened the retailer with higher fees or discontinued use of Visa debit cards at their stores. While Kroger currently requires PIN verification for all debit card transactions, Visa’s stance is that all retailers must give customers the choice to use a PIN or signature. Not All Retailers Are Happy About Chip Cards As we covered prior to the mandatory liability shift in October of last year and over… Read more

Over the last decade, the Internet has had a huge impact on the way businesses operate. Now, it's easier than ever for freelancers and service providers to connect with prospective contractors, trading goods, services, payment and more. Whether someone does this kind of work to supplement their main job or they decide to strike out on a full-time basis, the flexibility provided by remote work can be very appealing. While there are a lot of good things to be said about working as a freelancer or service provider, there are also some challenges - including efficient and timely payment. Even though payments can move faster than ever online, a large percentage of individuals who work as contractors still end up spending too much of their time chasing paper checks or wire transfers. If you're just getting started as a freelancer or contractor, or have already built some momentum for yourself, but have discovered that payments are a common bottleneck, don't worry! We know it's tough, but there's actually an easier way. Accepting credit cards can help take what you’re doing to the next level. Start… Read more

As the holiday season gets closer, analysts are predicting ecommerce sales to grow by 13 percent. They also predict that mobile commerce will increase by 60 percent this holiday season. While both of those figures are good news for retailers who sell online, it’s important to know that the continued growth of ecommerce isn’t without potential pitfalls. If you’ve read any of our previous articles on EMV cards and terminals, you know that even though this solution is slower than a traditional card swipe, it has already been effective at reducing retail fraud throughout the United States. One side effect of that reduction is criminals are now looking for new targets. And in many cases, the targets they’re pursuing are online. Despite the effectiveness of chip cards for deterring in-person fraud, they still have the same vulnerabilities online as traditional credit and debit cards. That means it’s up to retailers to help combat online fraud. Not having the right layers of protection in place to deter as much online fraud as possible can result in costly issues like chargebacks. Merchants… Read more

Visa recently announced that they’re rolling out B2B blockchain payments. Named Visa B2B Connect, this new platform is designed for banks to make payments and settle funds across borders using Chain Core. If you haven’t heard of Chain Core, you’re definitely not alone. It’s a blockchain infrastructure developed by the startup Chain, which has raised $43.7 million in venture funding since January of 2014. Given the huge amount of money raised by a single player in this space, it’s not hard to guess that the blockchain has become a hot area of technology. But since it’s still a very new area and one that’s quite complex, there are lots of questions and misconceptions about it. Because the entrance of major players like Visa into this space is yet another signal that blockchain technology will play a major role in the future of digital payment processing, we want to help shed some light on exactly how it works: Are Bitcoin and Blockchain the Same Thing? We first covered the topic of Bitcoin back in July of 2012. Since then, this technology… Read more

Chatbots have been one of the biggest technology trends of 2016. Whether it’s tech giants like Facebook or household retail giants like Sephora taking advantage of this new technology, new developments in this space continue to roll out. Since this is a trend that's only going to continue to accelerate, we want to outline some of the pros and cons of chatbots for business owners, including the role they may play in payment processing. The What and Why of Chatbots Even though the programming behind chatbots is quite sophisticated, these bots are simply computer programs. The fact that these non-sentient, man-made programs are able to so accurately communicate with humans puts them on the cutting edge of technological progress. Making that interaction as seamless as possible is the current focus of a lot of efforts surrounding chatbots. Although there are plenty of bots that can currently only respond to basic questions or provide yes/no answers, much more sophisticated bots already exist, playing a more major role in areas like customer service. What makes chatbots so hot for small business owners? It boils… Read more