Entries tagged with “PCI DSS”.

You’ve worked hard to keep your credit clean, and your business should be rewarded for it. One of the top credit processing trends of 2015 is for payment processing companies, a quickly proliferating industry, to offer rebates and rewards as an enticement to clients with good credit who deserve to cash in on the rebates and rewards. It’s similar to the way personal credit card companies monitor and reward clients with good credit who pay on time. This may come in the form of an initial rebate, or a percentage back at the end of a pay period. Personal credit card offers can suck people in with point systems that dupe some customers into rationalizing overspending because they are earning points or airline miles. There’s not the same risk with payment processing providers since your rebates and rewards are contingent on transactions you were already processing; it’s simply a smart way to capitalize on your system for accepting payments and processing cards. There’s no reason not to take advantage of these offers. With so many options in the payments industry vying for your business, there’s also no reason to compromise. Find a rebate and rewards program that works for you.

Capitalize on Rebates and Rewards

Savvy businesses are capitalizing on opportunities such as rebates and rewards to create new revenue streams.  When you’re looking for a payment processor, choose one that offers rebates and rewards that help you maximize your investment. Use a payment processor that gives you something in return for your business and rewards you for being conscientious about your credit. If you’re managing a business, you know that being scrupulous about your financials is its own reward. Payment processing rebates are just a way to cash in on smart business practices.

Picking the Right Card

It’s essential to do your homework and find the card that’s right for your business. Pick one that’s easy to use and fits your financial style. Check the interest rates and the fees. Make sure you know what you’re getting in return for your business. Do the math—obviously, if the fees are more than the rewards, it’s not a good fit for you. For most businesses, a slow-and-steady approach wins the race. Consistent rewards for paying on time and staying within processing limits are usually the best way to go. Watch out for enticing deals that come with your initial sign-up, but peter out before they provide much of a benefit to you.

ProPay offers a nice rebate in the form of a processing credit, which you can earn after the first 90 days of activating your account. When you sign up for a ProPay account and process $600 in credit card sales in the first 90 days you’ll earn a processing credit worth $29.95. This processing credit covers all of the fees you would normally have paid to ProPay as you process credit cards or transfer funds from your account after receipt of this rebate. It’s a handy way to take care of some of the fees associated with processing cards.

Targeted Reward Programs

As the payment processing arena gets more competitive, expect to see rebate and reward programs becoming more and more specific to customer needs and spending patterns. Strategy& observes the following:

“In the technology sphere, we see opportunities for companies in the payments industry to mine customer data and create analytics that can support increasingly sophisticated merchant-funded rewards programs. These programs are becoming more and more pervasive, offered by an ever-broader assortment of national and local retailers, and their success in an era of ‘big data’ is determined by how well they are integrated with the consumer’s path to purchase. The customer’s location — physical store, mobile computer or desktop, smartphone or tablet — as well as recent purchase history, browsing habits, checkout completion rate, response to marketing impressions, and type of credit card used are among the many data points that payments providers can help retailers evaluate to make rewards programs more relevant to individual consumers. This, in turn, should increase sales per active customer and improve retailer marketing ROI.”

This is a promising trend for business owners who rely on the payments industry for their day-to day credit card processing. As their offers are fine-tuned to meet your needs you’ll best be able to capitalize on a rebate and reward program that recognizes and appreciates your good credit.

When launching a new business it is vital to ensure you have the appropriate setup of payment processor and online payment gateways queued to receive an influx of customers.

Below are several tips to follow when looking for, and comparing who your payment processor provider should be:


What is more important than your small business being able to process credit card payments securely? Not much. Will the payment processing company you are considering be able to protect the most sensitive information from your customers? Does the company have the required software to protect your customers and the company from fraud?

If your small business allows financial transactions that are unprotected, you could face outstanding penalties and fees. These penalties can be quite costly for your business, not only now, but in the future as well.

Penalties, Rates, Fees

Speaking of fees, you need to consider the rates and fees of the payment processing company that you are considering. You can use the company’s websites, evaluation charts, and reviews to find out what kind of rates and fees you will be charged. You do not want to make the mistake of not checking the contract thoroughly before signing it.

Customer Service

When you speak to potential payment processing companies about their services, rates, and fees you will gain an understanding of how their customer service will be. If you have a problem, you will need a reliable customer support team to help you when you need it.

If you are looking for a reliable payment processing service with affordable rates, reliable customer service, and high-quality security, contact us for additional information.

The high-profile corporations have definitely seen their share of the headlines on television, in newspapers, and in magazines regarding credit card and customer fraud. However, as much as small businesses have endured schemes, scams, and frauds, they are not always profiled or talked about in the news. These crimes have major impacts on small businesses, and the end results can be devastating.

Fraud prevention for small businesses should be discussed so employees, customers, vendors, and suppliers will feel educated on how to recognize potentially fraudulent activities. Fraud prevention plans should be implemented in every business, and you should consider the following:

- Create a way for employees to quickly report suspicious activities

- Provide up-to-date information to employees and customers regarding fraud protection measures

- Work with your employees to train them on a monthly basis to prevent fraud

You have to monitor your small business credit report, your financial accounts, your credit accounts, and other documents. When you are actively monitoring these documents, you are ensuring that fraud will be detected. Look through all of your transactions to be sure that you will not see anything out of the ordinary. Your business may have online credit card activity; if so you should pay attention to the purchase history of your customers. If you notice a particular customer, and you think the velocity of charges and the purchase history seem odd, then you may want to monitor this situation for fraud.

Preventive measures are available to help your business feel safe and secure; these measures and resources are also effective. Contact us on ways to help protect your business

In the past year, hackers have stolen approximately $1 billion from banks in the United States, Russia, Germany, China and Ukraine, among others. More than 100 banks in 30 different countries lost money in a hacking scheme that used malware downloaded from Russia.

The hackers gained access to the banks’ internal systems through a phishing scheme targeting bank employees. According to the Chicago Tribune, they used a tactic called “spear phishing,” in which targeted individuals receive authentic appearing emails. Some of the bank employees who received these emails clicked on email attachments, subsequently infecting their computers with malware.

Through this malware, called Carbanak, the hackers studied the employees’ actions at work.  They subsequently mimicked them in order to withdraw money. Two of the techniques they used were reprogramming ATMs to spill cash at different intervals and locations, whereupon “mules” collected it, and infiltrating customer accounts to artificially inflate balances and then withdraw the money immediately thereafter.

The hackers stuck to a limit of $10 million per bank, so that the activity was less obvious and, therefore, harder to detect. At this point, the hackers are still continuing to operate.

Unfortunately, the malware used, according to cyber security experts, points to an increased sophistication in the level of attacks. One expert refers to it as “leapfrogging” from previous hacking operations. Standard cyber security protocol instructs employees (and private individuals) to beware of unsolicited email. In addition, recipients should never open unrequested email attachments, and never click on links in emails unless the email is from a trusted source.

As hackers become increasingly proficient at targeting institutions, employees become one of the last lines of defense in protecting consumer accounts as well as financial information. As such, knowledge of cyber security basics is essential.

For more information on cyber security tips for your organization, contact us.

Protecting yourself from hidden fees from payment processors is a necessary aspect of business to consider. These tips will help you to have a better understanding of what to look for in fees and how to find the best processor.

Variety of Hidden Fees

There are many types of fees that can be hidden in payment processing. In general, many payment processors have a flat fee per transaction, and a percentage of the money transacted also taken as a fee. However, many payment processors try to be sly and tack on extra fees. Make sure the value of the transaction does not matter for fees. It is also important to make sure the fees listed do not have a volume requirement. Some payment processors require a certain amount of money transacted every month.

Ask the Hard Questions

This part is difficult but necessary. Make sure you are reading the documentation that comes along with signing up for any payment processor. You want to make sure that they are an adequate fit for your business. If you see something that looks weird in the agreement, you could have stumbled on a hidden fee, and it is definitely worth discussing with the company.

Trust Your Instincts

If a payment processor looks good on the outside, and perhaps offers their services for free, they could be hiding something. All businesses need to make money so you need to figure out where their money is coming from and how it impacts you.

Feel free to contact us about your payment processing and the hidden fees associated with them.