Originally coined in 1997 by Kevin Duffey at the launch of the Global Mobile Commerce Forum, Mobile Commerce (also known as mCommerce) refers to the delivery of electronic commerce capabilities directly into the consumer’s hand, anywhere, via wireless technology. In other words, it’s any kind of financial transaction that occurs through a mobile -- from sending your friend money for next week’s concert tickets to ordering a new sweatshirt from one of your favorite retailers’ mobile apps. If you think of eCommerce as a large umbrella tree, mCommerce is a growing branch, reaching down to meet customers on the go. As we become increasingly reliant on our smartphones, mCommerce is becoming the norm. Global M-Commerce sales are projected to double between 2018 and 2021, with mCommerce's share of total online retail increasing to almost three-quarters, according to a forecast cited in Research and Markets Global mCommerce 2018 report. The growing popularity of mCommerce comes down to the fact that it’s incredibly convenient. You no longer have to go to a brick and mortar store or tear yourself away from your… Read more

Partnering with an integrated payments provider can be beneficial to both your business and your customers. By integrating tailored payment processing technology into your application, you’re creating a unified user experience. Everything is in one place which means that your customers won’t have to leave your platform to access other tools. However, the process of integrating new software and business functionalities can be daunting for merchants. The process is prone to errors and can cause friction in day-to-day transactions, which may even cost you business. This is where ISVs come in. To make things easier, merchants can partner with independent software vendors (ISVs), which can help your business flourish by opening up new markets. While you’re aware the benefits to both the customer and the merchant, how exactly does the technology behind ISV partnerships work? Good question. First, we need to start by discussing APIs. So, what exactly is an API? In the world of payments, there seems to be no shortage of acronyms, however, an API plays a crucial role in ISV partnerships. In simple terms, an API (application… Read more

If you run a small to mid-sized business, you’re at risk of a data breach. According to the US Securities and Exchange Commission (SEC), 43 to 60 percent of cyber attacks are targeted towards small and mid-size businesses. If that wasn’t worrisome enough, a study by the U.S. National Cyber Security Alliance found that 60 percent of all small businesses that suffer a cyber attack go out of business within six months of the breach. Recovering from a breach takes time and money, and often customers are slow to trust a business again after their data has been compromised. While these statistics may seem harrowing, there are certain practical steps that merchants can take in order to protect themselves from data breaches and cyber attacks, like working with products and partners that use End-to-End Encryption (E2EE). At first glance, E2EE may seem like yet another acronym within an industry that already feels crowded with them, but understanding E2EE is essential to protecting your business. So, what exactly is end-to-end encryption? We’re glad you asked. End-to-end encryption (E2EE) is a method… Read more

As a small business owner, cash flow is something that’s always top of mind. If you’ve already done some research, you’ve probably heard that ACH processing can provide your business with a leg-up when it comes to processing payments. But what exactly is ACH processing and what are its benefits? Good question. ACH or “automatic clearing house” is a batch processing system in which financial institutions accumulate ACH transactions throughout the day for later batch processing. Instead of using paper to carry necessary transaction information (such as with checks), ACH Network transactions are transmitted electronically, allowing for faster processing times and cost savings. In other words, by eliminating the need for a paper check, transactions are processed electronically and merchants can receive funds much faster and easier than if they had to wait for a check to process. Here’s how it works. ACH payments are typically used to move funds from one bank account to another. The ACH Network processes two types of transactions: Direct Deposits via ACH and Direct Payments via ACH. Direct Deposit via ACH is the deposit… Read more

According to a report by Accenture, Gen Z will make up to 40 percent of all US consumers by 2020. These teens and young adults are a tech-savvy emerging demographic that doesn’t remember a time before Google, Apple, Facebook and Amazon ruled supreme. Experts suggest that their purchasing and payment habits will surely influence other consumers. Over the next year, merchants should expect to see a surge in services that are catered towards all things mobile. Here are a few of the Mega Trends that are expected to shape payment processing in the next year. Which ones will you choose to embrace? Skyrocketing popularity of in-store mobile payments. In the upcoming year, in-store mobile payments are expected to overtake credit cards and grow from a $75 billion industry to $503 billion by 2020. It makes sense that people are moving towards digital wallets. We do everything else with our smartphones, why not make payments as well? It’s easy and streamlined. By providing your customers with the option of in-store mobile payments, you’re giving them a quicker, more forward-thinking way to… Read more