Blog Posts | Page 50

If you’ve been reading about credit card processing, there’s a decent chance you’ve come across the term payment service provider (or PSP). While “payment service provider” may be used interchangeably with terms like “merchant account” or “payment processor,” it actually refers to a specific type of payment service.

Despite the real differences involved in our VantageScore vs. FICO comparison, these differences should have minimal impact on your scores, ability to apply for loans, credit cards, etc. So long as you practice good credit discipline, you shouldn’t have a problem building and maintaining an attractive credit profile.

How much general liability insurance you need will depend on many factors. The amount of insurance coverage your business needs depends on your specific risks, what type of business you run, the number of employees you have, etc.

To determine how much workers’ compensation insurance you need, you have to take into consideration your business’s income, the number of workers you employ, their payroll, and minimum coverage requirements in your state. Your policy should be able to cover two-thirds of your employee’s yearly wage, but you should also consider coverage for medical bills and ongoing care if your industry is prone to work-related accidents.

These days, electronic payments continue to gain prominence. eCheck payments offer several distinct advantages over not just traditional paper check payments but also credit/debit card payments. In fact, many businesses can’t really afford not to offer echeck payment acceptance as an option.

In this article, we’ll dive deeper into the world of ACH payments, showing you where to find payment processors, suggesting ways your business can use ACH payments to save time and money, and discussing what’s a fair price to pay for the service.

Even though you are not legally required to purchase health insurance for a single employee by law, there are still great reasons to offer health benefits. Health insurance is not a trivial purchase — your employees work harder and better when they feel protected and healthy. Now, with the addition of the tax benefits and expanded options, it’s easy to finally make it happen.

Commercial property insurance is designed to protect your business from accidents, theft, fires, and some (but not all) Acts of God. If the worst-case-scenarios for your property come to fruition, a solid commercial property insurance plan creates a way for your business to run and thrive despite the setbacks.

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.

Most home insurance policies are there to protect the house and the homeowners — not a business. If you run a small business out of your home, you should consider adding business insurance as an endorsement to your plan or invest in business insurance separately.