Credit Card Processing Blog

It's no secret: millennials have more buying power than ever before, that's why major corporations are putting so much emphasis on marketing to this demographic, including big players in the payment industry like Mastercard. According to the Wall Street Journal, millennials have an average of two credit cards. Nearly 60 percent of millennials in the United States would like to be able to make payments by scanning their smartphone. This desire has led to heavy investments in biometrics by Mastercard and, even though Mastercard's vision statement is a "world beyond cash," its chief financial officer says she believes we'll still have cash for decades to come, if not always. Luckily, we've talked about how millennials are shopping and paying. Because millennials' buying power will soon surpass that of the generations before them, we want to share five marketing tips you can use to get your business in front of this invaluable demographic. 1. Be Authentic From a very young age, millennials have had the internet in their lives, enabling them to learn and research any topic that comes to mind. Whether it's searching Google or starting a… Read more

The rise of cryptocurrencies like Bitcoin is exploding, with more people than ever investing in this virtual currency and others like it. But an often ignored topic of discussion includes cryptocurrency refunds, or the process of returning virtual funds when an online purchase is made. MasterCard recently filed a patent application about this issue, which shone a necessary spotlight on these types of transactions. What does their patent mean for payment processing and how will it affect small business owners like you? MasterCard's Cryptocurrency Refunds Patent With a title like "Information Transaction Infrastructure," chances are you wouldn't immediately connect this patent to cryptocurrency refunds. But thanks to astute analysts and researchers who keep a close eye on cryptocurrency news, we know a little more about MasterCard's virtual payment plans. The patent, which has an ex-senior analyst at MasterCard listed as its sole inventor, details an infrastructure which would allow users to verify their identities. Through this infrastructure, users could opt in to linking their identity to specific cryptocurrency addresses, which could be useful when users submit payments to merchants from cryptocurrency exchange accounts. Holding on to a… Read more

Personal credit scores have a big impact on people's lives. As a result, there's no shortage of useful information about how to build and maintain a strong personal credit score. While it's fairly easy to learn the basics about what determine personal credit scores, there's another topic that's equally important for many people, but not written about nearly as often: business credit scores. Business Credit Scores 101 Equifax and Experian play a central role in personal credit scores, but they also issue business credit scores. There are two additional credit bureaus that evaluate businesses: FICO SBSS and Dun & Bradstreet. Your business credit score is an overall measurement of your company's health. It can come into play when working with creditors, lenders and trade partners. This score can also be used when applying for a commercial lease or mortgage. Additionally, business credit scores can come in handy in less obvious situations, like when you're competing for a contract or working with vendors. Regardless of the specific situation, the stronger your business credit score is, the easier it will be to negotiate favorable terms. With personal… Read more

Forty six percent of Americans have been a victim of credit card fraud in the last five years. The EMV liability shift has significantly reduced in-person credit card fraud and, luckily, this trend will continue as EMV terminals make their way into additional retail settings across the United States. While EMV is great at securing in-person transactions, a side effect of reduced in-person fraud is online threats continue to ramp up. As a business owner, you want to protect both your data and customers. Since pr oper payment security is far from being a set-it-and-forget-it task, we want to highlight two powerful tools for combating fraud in 2017 and beyond. What is P2PE and How Can It Help You Combat Fraud? P2PE stands for Point-to-Point Encryption. With this technology, credit card data is fully encrypted all the way from submission through payment processor receipt. This ensures that unauthorized parties are unable to intercept any of this sensitive data. While a similar technology known as end-to-end encryption (E2EE) provides a layer of protection, P2PE is preferred for two key reasons. In addition… Read more

The concept of cloud computing can be traced back to the mid-nineties. While Amazon introduced Elastic Compute Cloud back in 2006, it really wasn't until a few years later that cloud computing really took off. In 2015, cloud computing's worth was estimated at around $67 billion. The industry is expected to grow to $162 billion by 2020. If you've been thinking about whether or not the cloud is right for your business, here are a few cloud solutions that could help your business. Office 365 Although it's been over 25 years since Microsoft Office was introduced to the world, this has been the premier software for businesses around the world. Microsoft has made Office better than ever by putting it in the cloud and continuing to innovate. With Office 365, it's easier than ever to do business anywhere. You and all of your employees can have secure access to your documents, spreadsheets, email, chat and more from anywhere. Salesforce With a market cap of over $61 billion, Salesforce has earned its spot as one of the most highly valued American cloud… Read more