By
But as your ecommerce business grows, the features that once made PayPal a no-brainer may begin to hold you back or cost you more. How do you know if it’s time to switch your payment processor for your online business? In this article, I’ll dig into the pros and cons of using PayPal for online …
By
From a business’ perspective, however, chargebacks can often be a costly hassle. The burden of proof to show that a customer has been rightfully charged falls on you, and when consumers successfully dispute charges, you lose both the product sold and the revenue from that sale. Even when a dispute is unsuccessful, the acquiring bank will withhold …
By
Digital wallets are becoming a more popular way for to pay for goods and services. With choices like Apple Pay, Google Wallet, the upcoming Samsung Pay, and even PayPal, there are plenty of options for customers no matter what kind of smartphone or electronic device they use.
By
The short answer is: Yes and no. The longer answer is that it depends on the type of card. You’ll have to follow applicable rules as well. Credit cards: Yes. It is acceptable for you to set a minimum charge on credit card purchases as long as you abide by the stipulations as set forth …
By
What is FedNow? FedNow is a real-time payment system created by the US Federal Reserve that went live in the summer of 2023. Its purpose is to enable instant money transfers between banks and other financial institutions, but there are person-to-person (P2P) elements as well. Banks could choose to allow instant payments between users, mimicking …
By
It’s not really as simple as that, though. In actuality, a variety of entities are working behind the scenes, and it’s the card-issuing bank that ends up taking the largest piece of the pie. The more you know about what affects your business, the better armed you are to improve your position in the market …
By
The use of cash as the de facto payment option is shrinking, and nearly 40% of Americans favor going completely cash-free. Then, in the summer of 2017, Visa stepped up a “war on cash” by offering businesses money to go cashless. While it didn’t lead to the elimination of cash, it’s nonetheless more common to …
By
If you’re wondering if you have to do anything different to accept a virtual credit card, the short answer is no. However, it’s good to be aware of the factors involved in virtual cards and that’s what I’ll go over in this article. What are virtual credit cards? Virtual credit cards, as their name implies, …
