As a business owner accepting credit cards or planning to start doing so, there are several noteworthy things you should know, and the role of an issuing bank or entity is definitely one of them. Those who are new to the often unfathomable world of credit cards might be confused by so many terms and services, which is why we decided to unveil this and many other misconceptions you might have stumbled upon.
In 2018, losses associated with card scams equaled $24.26 billion worldwide, and the businesses in the US are statistically most prone to fall victim to this type of felony. Even though it can’t always be prevented from happening, merchants can resort to an array of credit card fraud prevention methods that make it tougher for someone to pay with a stolen piece of plastic or take valuable information from your other customers. If you want to protect your business and faithful clients from financial loss, learn how to recognize suspicious activities and behavior, and utilize advanced technologies to keep your funds safe.
Around 81 percent of transactions are cashless today. If you’re in the hospitality industry and thinking about improving your business, you should learn more about restaurant credit card processing. It will better establish your business, boost sales, improve cash flow, and eliminate the risk of getting bad checks while providing affordable and acceptable rates.
Are you interested in starting and running a successful startup or any other kind of enterprise? If that is so, you should be aware of the most common mistakes business owners make and learn how to avoid them. We have prepared the list of the most prevalent misconceptions about managing an enterprise.
Paying with plastic instead of cash is convenient for the customers in stores. On the Internet, there’s no other option. For the merchants, however, that often means calculating credit and debit card fees and expenses. Here’s a short guide on those expenses.
For all merchants whose business relies on credit card payments and eCommerce, data security during processing is of utmost importance. PCI compliance fee can be the best help in achieving that goal. It is worth learning more about it, though, since its usefulness depends on the sincerity and intentions of your processor.
The point of sale system is something that a modern business can’t be run without. Although it has enhanced the way transactions occur, there are still plenty of small businesses that don’t use it. Implementing new technologies is a significant change, and a lot of retailers are afraid of the unknown. Questions such as what is POS fee and how many of them are there are essential, but they shouldn’t stop you from improving your business. So let’s try to answer those questions and clear out all doubts.
With more than one billion credit cards used in the US, enabling this payment option to your customers is a great way to boost sales and grow your enterprise. However, with the increase of data breaches, merchants are more than ever obliged to protect cardholders’ information. When you understand what does PCI mean and how it affects your business, becoming compliant will be the only right choice.
It never hurts to know how much you can save.
