In another sobering reminder that the conveniences of electronic banking and payments bring their own unique risks, a report is out from the FICO folks — yes, those same people who so imperfectly provide credit scores — saying there’s been “a sixfold increase in the number of ATM machines in the United States compromised by criminals in 2015, compared with 2014,” as the NY Times sums up.
Category: card processing
Small World, After All: The Effects of Card Use on Global Economies
“Greater worldwide card use raises a number of questions.” We would concur, and in fact say that wanting to answer those questions for you, and your business, is what has spurred this blog (and our weekly newsletter) these past few years.
“Fintech” and Futures
Last week, we touched on a word that any reader of this blog should probably add to her vocabulary at this point: “Fintech.” As we noted, it’s a contraction of “Financial Technology,” and it’s popping up everywhere — particularly in studies of how fast consumer finance, and the finance industry itself, is changing.
Do You Use Mobile Phone Credit Card Processing? What You Need to Know Now
In fact, even pop-up roadside stands now have the ability to accept payments. As the world moves away from cash-based transactions, mobile processing allows unique business models to gain and retain their customers by accepting credit card payments. However, with the recent changes to credit card processing rules, many of these small businesses may be at risk and not even know it.
Invisible Hands and Lax Security: The Ongoing Push for EMV Adoption
“‘My dry cleaner isn’t worried about someone using counterfeit cards at his cash register,’ he said, noting that many businesses meanwhile discount the chances that hackers will siphon customer cards by sneaking malicious software onto point-of-sale devices — a problem that has lead to one breach after another at brand name retailers, restaurants and hotels over the past several years.”
VISA Revenue Up and So Is Chip Card Use — Along With Fraud Costs
An array of studies reveal interesting new “market metrics” for the economy, at least from the payment card side of the equation.
Visa revenue in Europe is up 25% — to an all time high, as Pymnts.com reports. Visa Europe is merging with its parent company — that’d be the Visa we use for payments here in the U.S. — and reports “that it had its most successful year ever in terms of revenue growth.”
Starting a New Business? Smaller, Mobile Models May Help You Get Started With Less Financial Risk
You have a great idea for a new business, but you just aren’t ready to take the plunge into a full-scale operation. After all, a new business often represents an enormous gamble for a small business owner. How do you know you’re ready? Is there an easier way to test market interest and viability without getting over your head in start-up investments? Between the internet and social media, many innovative entrepreneurs have found great success by starting out with unconventional, mobile business models. They use mobile trucks, farmer’s markets, festivals, pop-up locations, kiosks and more in order to bring their products or services to the public.
Of EMVs and Jackpots: Your Powerball Ticket Doesn’t Need a Chip — but Your Card Does
According to Forbes, “the hype around the Powerball far exceeds any market news this week,” and who are we to argue? Up through yesterday’s drawing, even number-crunching Fivethirtyeight.com agreed, saying “everyone is freaking out about the 1.5 billion Powerball.” And, they add, “the stats agree.”
Which stats? Well, there were nearly “a billion tickets (more than three times the population of the United States)” sold overall — “a ludicrous number!”
Is Your Business Ready for a Busy Holiday Season?—Why Mobile Processing Can Help You Serve Customers
The holiday shopping season is officially in full swing. Early bird shoppers have clamored to check gifts off their lists while others still bide their time, hoping for the best deal. The holiday season — and the “sale season” after — will bring an increase in customer traffic to your business. However, just getting them in the door isn’t enough. You need to understand what challenges stand between your business and actually concluding customer interactions with sales. Here are some important points to remember about potential customers this season:
International Blog Post Edition: Singles Day & MasterCard’s Global Liability
There’s a “quickening” at year’s end, with all the preparations, travels, gatherings, and, of course, sales and transactions that mark the season, and much of the particular corner of it that we cover here. So we have lots of “strands” to weave into an early holiday narrative for you, about immediate trends for the holiday season, and what may lay beyond it for the new year.
