How to Keep your Processing Safe & Secure?

Keeping Payment card transactions secure is a common responsibility of all. Merchants, credit card processors, card-issuing banks and the real card brands all have an important role to play.

Visa gives the following suggestions to you can to make your processing safe and secure:

•Make the change to EMV terminals.

EMV technology encrypts every transaction so the information can't be stolen and copied on fake cards, successfully withdrawing fraud. EMV terminals authenticate your card utilizing the dynamic data contained in the embedded microchip. The cardholder approves that they are the owner of the card while the card is still in the EMV terminal, finishing the double verification process.

If you haven't effectively done the change to EMV at your business, you're not doing all that you can to protect yourself and your clients from card fraud. Work with TSYS to distinguish which EMV terminals best suit your requirements and budget.

•Implement Point-to-Point Encryption (P2PE).

The p2pe technology eliminates account information and encrypts sensitive cardholder information until it achieves secure decoding. Like EMV, this procedure makes the information wasted to criminals.

•Outsource the handling of e-commerce cardholder information to a PCI DSS approved service provider.

Making this step reduces risk disclosure and expenses related to securing your environment. It can also essentially decrease PCI DSS applicability for merchants who don't store, process or transmit cardholder information. Visa's Global Registry of Service Providers gives a list of PCI DSS approved and enlisted service provider, including TSYS.

Radiant Payment Gateway Solutions consolidates various security solutions for help shield your business from fraud as well as from the crippling expenses of an information burst. Ensure your income, your clients, and your reputation by taking a proactive position to protect payment processing safe and secure.

Is your Small Business needs Card Processing services? Why?

Credit card payments have become need of the hour for many companies. Over past few years, small business credit card processing has achieved fame and acceptance. Still, many entrepreneurs are not open to the idea and are worried about the chargebacks. A small business owner should encourage the possible positive outcomes of such a system before writing it off.

Ease and convenience of payment:
According to the popular business principle the consumer is always right. David ogilvy quotes that the consumer is not a moron but your wife. In the opinion of most start up owners this may not always be right yet, the idea remains true.

Over the past few years,  plastic money transactions have increased. Even the members of the dependent population use plastic money to pay for their orders, and mostly the situation isn’t going to change. Small business owners may not accept the change but they might lose out on a large client that is an impulsive shopper or encourages PM’s idea of a digital nation.

Expand business to new platforms:
Investing into merchant credit card processing services is a smart decision for a startup owner, because in addition to driving better share at a store, accepting credit payments opens opportunities in e-commerce as well.

If a startup is trying to put forth an online portal, credit card processing is necessary. They would trust your business with their personal credit cards. E-commerce also opens up to international customers, which is great for business expansions.

How Payment Processing can Peak your Small Business?

The world of online is all about providing convenience and usefulness to its users. There are a variety of benefits of online payments, but the most important and crucial part is that it creates a sense of trust of online payments, among customers. The main reason is that this entire process is transparent and smooth and every party which involves in the transaction gets its part instantly and in a better visible manner.

Here are four advantages that one may get after implementing an online payment gateway:

1.    Instant payment- The first and the great advantage of online payment is that the payment is hassle-free and very fast.  Anyone can quickly make a payment sitting comfortably at his place, and the other person can even receive it instantly. The whole system provides instant notification of the transaction that makes the customer assured regarding what he had purchased.

2.    Quick and easy set-up- Setting up a debit or credit card based payment procedures is fast, easy and reliable in completing transactions just after implementing it. And apart from these, there are various service providers available that are offering plans which are affordable along with zero set up fee and low rates of the transaction.

3.    Credibility for Merchants- An online payment method is way more credible and secure than receiving various amount through cheques. A trader receives the whole money instantly without the risk of bounced cheques and other fees related to it.

4.    Affiliate Marketing- If any of you have an online system of payment in place, you can easily create an affiliate program where your members can earn referrals commissions by just sending interested ones to you. This will surely boost your sales and even find a branch network, working to increase your revenue.

Merchant Payment Solutions Worldwide

Offering customers the benefit of credit card and online payments is a sure way to increase their fulfilment with a company's solutions and items. As small businesses expand, the need to broaden invoicing and receivables is the next step in the development of your business proposal. These digital payment techniques are fast, convenient, and secure - all aspects that customers will appreciate.

Nearly every company type can benefit from merchant processing systems, from restaurants to retail stores and service stations. Choosing the right payment techniques is important in order to best support customer needs while maintaining low processing fees.

What Are Merchant Processing Services?

Merchant Payment Solutions Worldwide is a term that represents a wide variety of financial solutions used by the company. More specifically, merchant services allow suppliers (businessmen) to handle digital payments by accepting credit and debit card payments for their solutions and products.

How to Choose the Right Merchant Processing Service Provider?

Just like you evaluate the nature of solutions and cost efficiency being offered to you by any support you acquire of, you apply a similar approach while choosing a credit card processing service agency. You need to take into consideration the solutions being offered to you, whether you are given an option to accept online and mobile transactions, how much it'll cost you to maintain the account, whether there are any invisible costs or any terms and conditions in the contract that you should be aware of.

Before you select a payment gateway, make sure you ask your merchant services provider for a list of the various options available. Contact them and get information on their rates, their individual solutions and interface with your e-commerce needs.

Most recommended payment system to facilitate business

Online payment is a system which has been in use since the early 90’s. The payment facilitator across the world has been the following:

     Ø  Authorize.net

     Ø  PayPal

     Ø  Google checkout

     Ø  Amazon payments

     Ø  Braintree

These are some of the well-known companies which facilitate the internet payment. Also, when it comes to giving the credit and debit services a fast processing manner, then you find the online banking payments system. This is done through the POS system and helps in more than one ways to many of te big companies in retail and various other sectors. 

The POS helps in calculating the taxes and giving accurate payment to many of the businesses along with also giving relief to the taxpayers. The online banking payments system helps the authorized bankers to get the receipts system run in an accurate manner. It also helps in giving the systematic way to pay taxes and various other works from payment of various govt. business works along with filling the application forms for various prestigious institutes across the world. Now-a-days the online-payment facilitates in saving reducing paper work, transaction costs, labor cost along with negligible manual processing. It not only helps business to get the benefit in transactions but also helps in reaching the overall market business in a systematic way.  All you need to have is computer related software to record all transactions.

The various other new features related to Advance online payment processing is the mobile wallet system which has bought revolution in the payment system. The mobile wallet system helps to get the transactions done at your fingertips. With easy access to online through various payment systems such as Google wallet, Payment wall adding contribution to the business through an effective manner and also helping to get the local business across global economy gives major boost to the business.

Frauds Dangers Connected with ACH and Wire Transfer

Every business bear the risk of payment frauds, due to nature of business or some other reasons. Almost three quarters of respondents were targets of attempted or actual fraud, while 42 percent reported increased fraud attempts. Fraudulent checks were used most often, followed by wire transfers, cards and ACH.

With high-tech global technology in payment industry it made check acceptance and clearance cheap and easy, but also it made easy to commit fraud activities. Increased in the use of automated transaction coms with an increased in fraudulent activities. The FBI saw a 38 percent increase in wire transfer fraud in 2011 alone. The 2014 Association for Financial Professionals Payments Fraud and Control Survey reported that payment fraud from ACH debits in 2013 affected 22 percent of responding organizations, while payment fraud from ACH credits in 2013 affected 9 percent. Payments from wire transfers in 2013 affected 14 percent of respondents, up from 11 percent in 2012.

ACH and wire transfer appears very similar with few differences. Wire transfer move money between financial institutions. With ACH Transaction information is sent in a batch to an automated clearing house, which clear the ACH payments and sends to bank and the clearing house acts as a middle man takes long time up to 3 business days to clear the payments. 

Being popularity of these types of payments there is greater accessibility of fraudulent activities. The primary targets are small- to medium-sized banks, businesses, schools and other organizations. These targets often rely on traditional security systems and applications, therefore increasing their risk.