Credit Card Processing Blog

If your business sells products to customers, your ultimate goal is to get people to buy, whether it's in person or online. Reliable payment processing, a clean and user-friendly website and a fast online store will help make it as easy as possible for people to purchase your products or services. But even with a highly optimized website and quality sources of traffic, the majority of people who come to your website for the first time aren't going to buy. Now, that doesn't mean they're never going to buy from you, it just means they need a little more time or additional interactions before they're ready to make a purchase. Since the holiday season naturally increases the likelihood of someone being ready to buy, we want to dive into a strategy that can greatly benefit you and your business: creating a gift guide. When done correctly, a gift guide can increase conversions, as well as motivate more people to come back to your site within a short time and buy. Because a gift guide can be such a powerful tool, it's important to… Read more

We recently wrote about Mastercard embracing the blockchain. Even though the payment provider's CEO had previously said that “non-government mandated currency is junk,” the company now sees value in the underlying blockchain technology that's used for cryptocurrencies like Bitcoin and Ethereum. It appears Mastercard isn't wasting any time exploring potential uses of the blockchain. They recently filed a patent for a blockchain-based database capable of instantaneously processing payments. If Mastercard utilizes this type of system in the future, it will eliminate the need for merchants to wait days before receiving funds. In addition to instantaneous payment processing, the patent also explains that this technology will allow Mastercard to keep an ongoing record of transactions and verify that all merchants are paid correctly. The specific stored data highlighted by the patent includes transaction amounts, guarantees of payment, confirmation of payments and account profiles for the parties involved. These account profiles will also store the current balance of each users. IBM is Eyeing the Blockchain, Too Two other very large companies recently announced they're exploring different uses for the blockchain. In October,… Read more

When you think of American Express, chances are you don't think of a major Supreme Court case that could affect the future of credit card processing. Like other industry lawsuits, the outcome of Ohio v. American Express, a lawsuit centered around anti-steering, could have direct effects on how businesses accept credit cards from customers. What You Need to Know About the Case Anti-steering is a clause American Express includes in its merchant agreement prohibiting merchants from encouraging customers to use a lower cost card when they try to pay with an American Express card. Ohio and ten other states brought this lawsuit as a way to challenge the clause, saying anti-steering violates antitrust laws. They believe that because American Express charges higher fees than other companies, like Visa and Mastercard, merchants should have the right to inform their customers of the lower costs available. American Express, on the other hand, says this clause prevents discrimination against their cardholders. They also believe their higher fees are justified due to the types of perks and rewards they give their cardholders. The History of this Case… Read more

If you want to successfully grow your business in 2018, content marketing is a great way to get started. Although content marketing can seem like something that only large corporations with huge budgets can pull off, we're going to cover why this strategy is actually a great fit for small and medium businesses. Content Marketing 101 The basic goal of content marketing is to create and distribute content that puts your business in front of potential customers. While blog posts are often the first type of content people think of, this strategy can incorporate videos, podcasts or content in any other format. Regardless of the specific format, you don't want to focus on content that directly sells your business. Instead, you want to craft content that appeals to potential customers by educating, informing or entertaining them. Then, once a piece of content brings a potential customer to your website, you can use tactics like targeted calls to action to convert those individuals into leads or even customers. 3 Common Pitfalls of Content Marketing The first mistake SMBs make with content… Read more

At the beginning of November, Mastercard had a market cap of $158.73 billion, compared to Visa's market cap of $253.95 billion. While Visa currently has a comfortable lead, both companies have grown at a steady pace over the last five years. As a result, each brand is always looking for ways to grab a bigger share of the market. Visa's latest initiative involves partnering with Uber. While it's not unusual for Visa to launch co-branded cards, this partnership is especially remarkable. Details of Visa's New Uber Card The card, which is available from Barclays, is aimed at people who regularly take Uber rides. Data from Uber indicates the company reached the one million rides per day mark in 2014. They reached an average of 5.5 million rides a day in the middle of 2016. And in June of this year, Uber surpassed its five billionth ride. Uber also shared a stat that one user took a total of 2,357 trips in 2016, which averaged out to about six trips a day. Although that individual is obviously an outlier, there are countless… Read more