With the counterfeit card liability shift over a year behind us, restaurants remain cautious on investing in equipment and POS upgrades required to enable EMV card acceptance. Many have prioritized implementing point-to-point-encryption and tokenization, to prevent costly data breaches, over EMV, which protects against fraudulent individual transactions initiated with counterfeit cards. A data breach could cost a non-PCI-compliant merchant anywhere from $5,000 to $100,000 eve
It's surprising how many merchants do not seem to understand or take advantage of the benefits of credit card pre-authorizations.
Pre-authorizations can vastly reduce fraud, processing costs, and improve customer satisfaction. If you offered a typical online merchant access to a tool that would provide any of the above benefits most would jump on the opportunity. With that in mind, one must wonder why relatively few merchants take advantage of the benefits of pre-authorizi
With so many options, how do you decide what will work for you? Think through the following considerations: Will you have access to the actual, physical credit card? Having cards in hand will save you time. For any volume, you'll want a method that will allow you to swipe the card (rather than typing in numbers) and print a receipt. Will you have power and connectivity? Processing credit cards without an Internet connection substantially limits your options. Similarly, if you
Chargebacks are a costly and unfortunate fact of life for many small businesses that accept credit cards. However, there are ways you can protect yourself against unfair chargebacks. Credit card chargebacks happen when customers contact their credit card issuers to dispute charges. If an issuer deems a dispute valid, your merchant account is debited for a credit card charge that had previously cleared -- and you're out the money, plus a chargeback fee from the processor that
By now, you’ve likely received in the mail a replacement credit card with an EMV chip (EMV stands for Europlay, MasterCard and Visa). The computer chip has been put in to keep hackers from getting access to the data in your card’s magnetic strip. But you may be in for some surprises, and I say this from personal experience. I recently was with two childhood friends on our annual girlfriends getaway, which included shopping. I handed my purchases to the clerk, along with my cr