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Some people think that “high risk” applies to “vice” businesses – things like alcohol, firearms, and adult entertainment. While those often are high risk, they aren’t the only ones, and the reasons why have little do with processors’ opinions on the business. In this article, we’ll talk about industries that are considered high risk and …
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There are several good techniques for fighting fraud, including biometrics and multi-factor authentication, but alone, they aren’t enough. Instead, payment providers and the card networks need to dig into the vast amount of payment information that’s produced every day to find patterns that indicate likely fraudulent activities. They can then use this data to find …
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Let’s take a look at what you’ll need to do if you want to accept only one type of card. What is Visa Limited Acceptance? The Visa Limited Acceptance program allows businesses to choose to only accept certain types of Visa cards. As you can see from this excerpt from Visa’s Core Rules, a business …
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For most businesses, the problem with ensuring optimal interchange is that it’s confusing, and your processor has no incentive to assist you. The time needed to learn the ins and outs of interchange in order to ensure you’re properly optimized is significant, and since the savings only benefit you, not your processor, you’re usually on …
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Credit and debit card fraud cause losses in the billions. Anything that can reduce the impact of fraud will significantly improve confidence throughout the payments marketplace and save businesses money. One potential way to fight fraud is through the use of biometrics — your uniquely identifying personal features like fingerprints, voice, face, or eyes. Let’s …
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Note: Vantiv was acquired by Worldpay, which was itself acquired by Fidelity National Information Services (FIS.) You’ll likely see the name Worldpay more often and Vantiv less, including in relation to Bizshield. In the digital age, small businesses can’t afford to ignore reviews, but it can be time-consuming to scour different sites for mentions of …
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We expect money transfers between buyers and sellers to take days, not minutes. But is that reasonable in a world where so much of what we do is instant? When we can get customer support, social media updates, responses, or communications within moments of our requests, why do payments take so long? Fortunately, this could …
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These days everything is digital. When was the last time you saw someone using a manual credit card imprinter? Whether you accept payments from chip credit cards or Apple Pay, the risks (and regulations) remain essentially the same. Hackers and thieves don’t care if you’re a one-man weekend operation or a major corporation. If you …
