The idea of being defrauded isn’t pleasant, but it’s something that every business owner needs to think about. Fraud incidents are a real possibility for any business, particularly if you accept credit cards. In 2021, there were 389,845 breached credit accounts. Not only that, but industry data shows that account takeover fraud continues to be […]
NFC payments are a type of contactless payment that uses near-field communication to securely share customers’ payment data. Digital wallets have boomed in recent years because they’re more secure than credit card or debit card payments. Your customer just holds their iPhone or Android mobile device up to the card reader. The caveat? Your customer’s […]
Credit card fraud is one of the most common forms of fraud. Its repercussions flow not only to the person whose identity or credit card was stolen but also to the merchants who have processed payments. When you process a fraudulent transaction, not only could you be liable for it, but your reputation could also […]
As the credit card industry continues to expand, merchants are being impacted by credit card fraud at alarming rates. Credit card fraud was the second most frequent form of reported identity theft in 2020. In fact, it claimed the top spot in four of the past five years. Most card fraud cases involved criminals who […]
Wireless is everywhere today. From our internet connection to our phones, computers, speakers and even televisions, wireless has penetrated our lives to make things more accessible and give us the freedom to browse the internet, watch our favorite shows and make purchases from wherever we want. It’s removed the restriction we once faced when tethered […]
Digital payment methods and mobile wallets have been gaining popularity for some years now. Wearables paved the way long ago, and mainstream adoption via iPhone and Android devices has been rising rapidly ever since. Along with numerous other global firsts, 2020 was the year that digital and mobile wallet payment methods transcended credit cards. As […]
Every online business needs a payment gateway to facilitate smooth, safe, and speedy transactions. Whether you have an established e-commerce business or are just starting out, your choice of payment gateway is a crucial one. The more intuitive the platform and the more payment options it accepts, the more transactions you will be able to […]
Payment processing is one of the most complex aspects of being a business owner. This is particularly true if you have an ecommerce store and a physical storefront. Choosing between all of the different merchant account options isn’t easy. Customers today fund their transactions with a wide range of payment methods. So, you’ll want your […]
The COVID pandemic has greatly accelerated the growth of the digital payments industry. As millions of people were forced to stay home, many consumers turned to online shopping to avoid catching the virus. As a result, e-commerce sales spiked to $794.50 billion. According to Insider Intelligence, this figure comprised a record-breaking 14.4% of total retail […]
Did you know that the shopping cart abandonment rate across industries is up to 69.80%? Take one guess where most shopping carts are abandoned. If you said, “during checkout,” your answer is correct. No wonder small business owners are constantly looking for ways to streamline and expedite the checkout process. While some of them may […]
