Author Page for Frank Kehl | Page 5

What is PCI compliance? What does it mean? Is it mandatory for businesses? Arming yourself with a basic understanding of PCI can help you navigate a lot more than you think when it comes to choosing the payment processor, merchant account, or outside payment security specialists you may need. Here’s what you need to know about all things PCI-related.

In this article, we’ll walk you through the process of applying to become an authorized EBT retailer and discuss the hardware requirements you’ll have to meet before you can accept EBT payments. We’ll also recommend some top-rated merchant service providers that offer support for EBT payments at a fair and reasonable cost.

Credit card tokenization involves the use of systems that replace credit card information with random letters and numbers. Ready to learn more about tokenization and how it can keep your business — and your customers — from falling prey to cybercrime and fraud? Read on to discover what a token is and how tokenized payments work.

There’s no one-size-fits-all answer to the question of whether debit card merchant fees are worth the cost, but for the majority of retailers, the answer will probably be yes. Due to a combination of regulation and fraud protection, debit card transactions are frequently cheaper for merchants to process than credit cards.

Merchant Account Services offers a strong lineup of processing hardware from Clover and other reputable companies. However, there are hundreds of other companies that can offer these same products. There isn’t a single product or service available through Merchant Account Solutions that you can’t get elsewhere.

If you’re new to the world of credit and debit card processing, you may be wondering what interchange fees are and how they impact the cost of processing transactions and maintaining a merchant account for your business. We’ll also show you how these fees fit into each of the different processing rate plans that your merchant account might use.

NCR Corporation is primarily known for its point of sale and banking hardware, but in 2018, the company acquired Allentown, PA-based JetPay, to expand its merchant services capabilities. We weren’t really in love with JetPay prior to its acquisition by NCR, and, for the most part, it doesn’t look like NCR is changing up the formula too much.

AVS is an acronym for the Address Verification Service, a feature that’s used to compare the address given to you by your customer and the billing address on file with the cardholder’s issuing bank. AVS serves two primary functions: (1) to deter fraud by confirming that the customer is the legitimate cardholder, and (2) to help prevent chargebacks by giving you additional information to verify your customer’s identity. Read on for more info.

If you’re a budding eCommerce entrepreneur, it’s critical you understand that the higher risk of fraud for online payments is the primary factor in making the credit card processing rates for this type of transaction significantly higher than for card-present transactions in a brick-and-mortar setting.

As we increasingly move toward a cashless society, P2P apps such as Venmo will become more of a fixture of everyday life. The company offers a high-quality product, and for users who just want to send or receive the occasional payment, it’s possible to use Venmo without paying a dime for it.