Credit Card Processing Blog

Not long ago, we wrote about Visa's announcement that they were rolling out B2B blockchain payments. While that was a big step for the credit card company, it appears it's just one of several that they're making in regards to B2B payments. Visa's most recent announcement is they acquired Fraedom. Founded in 1999 and based out of New Zealand, Fraedom offers transaction management services, including expense management and accounts payable solutions. Since its founding, the company has managed more than one billion transactions through its web based platform across more than 170,000 organizations. Fraedom's recent focus has been on creating a mobile first experience. Although Visa didn't disclose exactly how much they paid to acquire Fraedom, it's believed to be around $195 million. Because that is a very substantial amount, we want to dig a little deeper into what Visa is planning to do. Visa's Strategy for B2B Payments Visa’s head of global business solutions recently discussed why the company has been so active with acquisitions and partnerships related to B2B payments. He started by explaining that “I think there… Read more

Amazon and its founder Jeff Bezos generally let the company's numbers speak for themselves. So when Bezos does make a bullish statement, everyone from Wall Street, tech and retail takes notice. At the beginning of February, Amazon announced its Q4 earnings. Not only did the company post record quarterly profit and revenue in the holiday shopping season, but Bezos made a statement that got lots of press attention. He said Alexa’s results far outpaced its internal projections and that Amazon would double down on its investment in the voice arena. Given Amazon's influence on ecommerce and the internet in general, this is a very big deal. It also explains why Google is investing so much in voice technology, along with projects from other big companies like Apple's recent release of the HomePod. Although we're still in the early stages of home voice technology, Amazon's traction and all of the investments being made indicate voice will develop into a key way people interact with the online world. But how will voice impact online shopping? With payment processing already being one of… Read more

The last time we wrote about the blockchain and Bitcoin, the cryptocurrency’s value was much higher than it is now. After shooting up to nearly $20,000, Bitcoin's value slid downward week after week. Although the volatility of cryptocurrency means there's no way to know for sure what's coming next, it does appear that Bitcoin hit its bottom and is beginning to climb back up in value. Why did Bitcoin's value take such a big plunge? Spend just a little time on any relevant online forum and you'll read dozens of theories. What's clear is the value of crypto is very influenced by news cycles, which is why we want to highlight one story that likely hurt its value, along with another that seemed to boost it. Visa and Mastercard May Be Threatened By Bitcoin Visa, Mastercard and many other huge corporations are all embracing the concept of blockchain technology. What they don't seem to be embracing is Bitcoin itself. In a recent move, both card brands reclassified the way credit card purchases from crypto exchanges like Coinbase are processed on their… Read more

Last year marked the first time there was more digital data theft than stealing of physical assets across businesses. Because online fraud is a very real problem for businesses of all sizes, it's important to take as many precautions as possible to prevent it. The good news is there are a lot of tools available to fight fraud, often provided by credit card processing companies. Others come directly from credit card providers. For instance, if your business processes a significant amount of American Express transactions, you should learn how SafeKey can provide an additional layer of protection for these transactions. The Basics of American Express SafeKey MasterCard SecureCode and Verified by Visa covered how MasterCard and Visa are using 3D Secure technology to make transactions more secure. SafeKey is the American Express version of 3D Secure. Amex cardholders are automatically enrolled and when they make an online purchase with a participating business, they may be asked to provide a one-time use code that they will receive by email or on their phone. This is like two-factor authentication (2FA) technology, which has done a… Read more

Amazon recently announced that their fourth quarter revenue for 2017 was $60.5 billion. While the company has diversified into areas like their AWS cloud platform, commerce remains at the core of their business. Since Amazon's retail growth shows no signs of slowing down, businesses of all sizes can benefit from taking a page from their playbook. One way Amazon has blown the competition out of the water? They've always been a leader in gathering and publishing user reviews for their products, which has allowed the company to build a tremendous amount of trust with their customers. As an individual business that sells a variety of products or services through your website, here are the best tips for using reviews to increase your online conversion rate. 1. Use a Tool Collecting and managing reviews can take a lot of work. The good news is there are some great tools that can take care of everything for you. Yotpo is one of the most popular. It works with all major ecommerce platforms, along with many other software tools. Once you start using Yotpo,… Read more