Archive for May 2018
What is GDPR, and How Does It Affect My Business?
GDPR or the General Data Protection Regulation is a comprehensive new law that came into effect on May 25th, 2018 and applies to all companies that collect and process data belonging to European Union (EU) citizens, even, in some cases, if the business is conducted outside of the EU. This law is particularly important to…
Read MoreCredit Cards vs. Debit Cards: Pros, Cons, and Security
Many people speak about credit and debit cards interchangeably, as if they were one and the same. They may perform many of the same functions, but they are quite different, and each offers its own set of benefits and drawbacks. A quick overview of credit and debit cards Credit cards allow the cardholder to borrow…
Read MorePCI Compliance and Payment Security
The Payment Card Industry (PCI) was established to provide a universal set of security standards to protect sensitive consumer information, such as credit card numbers and account passwords. When we talk about PCI Compliance, we are actually referring to the PCI DSS, or Payment Card Industry Data Security Standard. The DSS is a protocol that…
Read MoreAssuring Customers Their Credit Card Information is Safe
When it comes to online shopping, a lot of people’s main concern is security. Can we really trust that our credit card details are safe after we enter them online? While there are folk who are terrified of entering personal information onto the web, there are also people who will share all their details, unaware…
Read MoreMerchant Account vs Payment Gateway Explained
If you are confused by all the terms bandied about around accepting credit card payments you are not alone. Many small business owners feel intimidated by all the names and technical terms used in the card payment industry and are not sure if they can keep pace with it all. That is why choosing a…
Read MoreHow do I Sell Online?
Online business drastically cuts down your overheads, because you don’t have to rent a physical shop or hire a cashier. Your start-up costs are minimal, and even big offline businesses are now taking the virtual route. Your primary expenses will be shipping, and maybe door-to-door delivery. Aside from a physical storefront, online shops have all…
Read MoreHow does a Payment Gateway Work?
Understanding the logistics of online payments is beneficial if you are looking for credit card processing providers. The terminology used to explain online payment processing can appear baffling, but it really is a straightforward concept. What is a payment gateway? A payment gateway connects a business’s website on the Internet to the banking network. This…
Read MoreGetting a Merchant Account for a Small Start-up Business
You might wonder what qualifies your business to have a merchant account. Maybe you think your business is too small for a third party payment processor. In reality, any business that accepts card payments needs a payment processor. It’s impossible to receive payments without one. Also, most card networks use the Visa merchant classification. This…
Read MoreAre Chargeback Fees Just an Unnecessary Expense?
The term ‘chargeback’ sends shivers down the spines of many business owners. It might seem like a minimal fee, but its significance is far beyond chargeback fee. Chargebacks can ruin your reputation with the merchant account industry. Many businesses just see it as a risk they have to take. After all, the alternative would be…
Read MoreWhat Are Chargeback Fees (And How Do You Stop Them)?
A “chargeback” means that a customer’s payment transaction that was previously authorized and cleared is later reversed. A payment reversal will result from a dispute raised by the customer or their bank, and the full payment amount plus chargeback fees will be withdrawn from your merchant bank account. If a customer believes that they did…
Read More