Entries tagged with “Security”.
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Feb 27 2015
Finding the right payment processor can certainly be a daunting and overwhelming task. Every provider will have different guidelines, contracts, and fees. Since these things are all different, it is important that you understand all the subtle differences so you will make the right decision.
It is always a good idea to set aside some time to compare all of the payment processors before you make a critical decision and choose one. When you think about it, the payment processor that you choose can determine the amount of revenue that you will bring in. Before you implement a payment processor or switch from your old one, here are some questions that you want to keep in mind when comparing payment processors.
What Kind Of Rates Do You Have?
Sometimes there are different charges, rates, and fees for different cards. Some customers will have their rewards cards, their business credit cards/debit cards, their personal credit/debit cards, and other cards. You should know what type of fees you will have to pay for every transaction.
Do I Have A Limit?
Some payment processors give you limits on how much your business can process. This can certainly cause some problems, especially if you did not know this beforehand. Your customers may not be too happy with the limits either. This is why it is important to ask questions before making a final decision on a payment processor.
There are different fees and rates depending on how a payment method is entered. What kind of rates or fees will you be charged with if a specific credit/debit card is swiped? What about keying in manually? If you accept a payment method over the phone, fraudulent activity is possible. Since there could be a possibility of fraud, the fees for processing can go up. When using payment methods online, there is also a risk of fraud. In this case, the payment processing fee will go up as well. For these reasons, you will want to make sure you understand what kind of rates you may see.
Finding the right questions to ask different providers of payment processors is a big task. When you ask the right questions and get the answers, you should also try to take a test run. Whatever provider you feel will meet the needs of your business is the one you should go with. Contact us for help in making this big decision.
Feb 24 2015
There’s plenty of advice out there about the major factors surrounding the finances of small businesses. Control of your small business’ limited cash-flow is a must to maintain fluid finances month-to-month. Often, small businesses are inundated with tools or products to help grow their business that may be well-priced, but add up quickly, and may not be worth the investment. Here we talk about ways to manage shipping costs and how to process client payments.
Paying for Trackable Shipping for Everything
Trackable shipping is a great fraud-prevention tool, so it should be used whenever it makes sense. It does not, however, make sense to use it for everything. The biggest example is the shipping of small, low-value items. If your company sells accessories such as batteries that only cost you a few pennies to buy, the sensible thing to do is simply put them in a first-class envelope and mail them regardless of the retail price you charge. The cost of putting tracking on such items is more than what it’d cost to do a direct replacement.
Using the Same Shipper for Everything
This is a mistake because each major shipping service – the USPS, UPS, and FedEx – has its own set of sweet spots. For example, the USPS tends to offer the best prices for things shipped nearby, while the other shippers are better for long-distance deliveries. Figure out which one offers the best deal for each general area you ship to and divide your carrier use accordingly.
In many cases, this cannot be avoided. However, if you sell items that will fit into the packaging provided by the shipper you intend to use, use their boxes as well as their service. The U.S. Post Office (USPS) has a huge array of flat-rate packaging available, so this may prove advantageous as you seek to deliver your packages quickly and at an affordable price to your customers.
Using Payment Processors
Like managing your shipping expenses, it is important to consider how you are processing the payments of your customers. Re-evaluate semi-annually the costs and benefits associated with your payment processor and your provider. More times than not, you will find that there are less-expensive and safer options available.
For more small business tips feel free to contact us. We’ll be glad to help you save money in your day-to-day operations.
Feb 23 2015
ProPay customers can now take advantage of the highly secure and simple online payment system offered by Visa. Visa Checkout is a fast enrollment process and can help speed up the checkout time for your customers and allows customers to safely store their card information.
Not only does Visa Checkout process Visa credit cards, it also allows you to use cards from other major brands as well. Enrollment into the program is easy and once enrolled customers conveniently provide only their username and password to complete payment processes. Visa Checkout also does not re-direct you from your merchant website, making it fast for your customers to purchase an item and keep on shopping. The online shopping experience is replicated in its convenience across all mobile devices as well.
As most merchants have experienced the online checkout experience continues to be a confusing and stressful pain point for would-be customers. According to eMarketer, up to 68% of would-be clients abandon their check-out shopping cart when they get to the payment step online, and that number reaches 86% on mobile devices.
ProPay continues to provide the leading technology to enhance your businesses payment processing capabilities. As more and more customers purchase items online and through mobile devices, Visa Checkout is the ideal addition to the suite of products and services we offer.
To learn more about Visa Checkout, and other ProPay solutions feel free to Contact Us.
Feb 12 2015
Posted by snelson
Industry News, Mobile Payments, PCI DSS
A British retailer, known in the United Kingdom and around the world for its wide selection of fashionable footwear recently experienced a security breach. Over one million customers were affected, and this is the latest examples of cybersecurity hacks.
Compromised data includes customer contact information and website passwords. The retailer had security measures in place, but the hacker was able to enter the company’s network through an unencrypted database that had been scheduled to be decommissioned. The attack happened last May, but was just recently reported. A warning has been issued to customers to keep an eye on possible account compromises.
In documents provided to British authorities, company executives say that the shoe retailer retained historic customer data because the company thought that removing it would be complicated for the retailer’s operations. They now realize those complications were overstated, and the data did not need to be retained. The servers that were affected have now been decommissioned.
Officials say that companies need to have stronger measures in place to prevent similar breaches. Businesses should:
- Have policies governing how customer data is stored
- Regularly assess how customer data interacts the IT infrastructure
- Test website and servers on a regular basis
For more information about cyber security measures, contact us.
Feb 9 2015
The right payment processor for your small business can be an incredible asset for your business, it can also be an overwhelming decision. The following are three tips you may not have thought about when it comes to your payment processor.
- Customer Service Matters – Contact your potential service provider. Finding out how they treat customers is a good step towards understanding how they will treat you as a customer. Many payment processors are operated solely by large corporations with limited focus on the individual, and smaller companies. When dealing with regulatory changes, security issues, or more, you need a company that you can talk to. If they get back to you in good time with good answers to your questions, you know that you can expect similar customer service further down the road.
- Online Processing Should Be Intuitive – The first thing to check in a demo, or trial period is how the interface feels online and on any app you want to use. Do they have the right interface for your preferred hardware/browser? When you do the demo, make certain that reporting, payment information, receipts and customer information can be accessed in such a way that you will be able to continue using the interface for years.
- Pricing Should Not Require a Lawyer – Glance over terms and conditions and contracts before doing a demo. If the pricing scheme has hidden items, monthly surprises or odd schemes, this could cause problems down the road. Some payment processors specifically target larger businesses, so they charge smaller businesses that process less payments. You do not want to end up paying more to process a small invoice than you earn from the invoice. If the payment process scheme does not make sense and your customer service rep cannot explain it to you, then that payment processor is not right for your small business.
To find out about simple payment processing plans for small businesses, please contact us.