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Archives / 2014 / August
  • Why businesses need to stay on top of credit card processing fees

    Businesses need to monitor their credit card processing fees to ensure they don't pay anything unnecessary.

    If you accept card payments, then you know all too well the need to manage your merchant account and the card processing fees being billed. While some merchants "set it and forget it" never opening a merchant statement, others tend to believe every offer that crosses there desk - neither of which is your best strategy.

    A recent article from Internet Retailer profiled baby product company Uppababy. The company started in 2006 to sell strollers and is now present in 12 countries, selling multiple versions of strollers and car seats. The company is partnered with several major retailers including Amazon and Bed, Bath and Beyond, as well as a number of smaller boutique retailers.

    Their wholesale business transactions are mostly conducted in a "card-not-present" sales environment and they … more

  • Why you should know the difference between a mobile commerce technology and a mobile commerce strategy

    Mobile commerce comes in a number of different forms.

    When your company talks about its mobile commerce strategy, what is it really saying? The truth is, simply talking about mobile commerce as a strategy geared towards facilitating future sales may be a misguided approach. 

    This was brought up in a recent Gigaom article that suggested "the future of mobile commerce is commerce." What exactly does that mean? Cormac Foster, the article's author, says too many organizations are concerning themselves with implementing a technology designed to process mobile payments, and that they are tying their mobile commerce strategy to whatever technology they buy. Foster's thesis ultimately is that mobile commerce is an abstract concept because it entails so many different ideas and technologies, so finding the "right" technology to manage … more

  • Mobile commerce helps small businesses compete and overcome challenges

    The average mom and pop shop doesn't have the resources or technology to offer the same streamlined checkout experience customers come to expect at large retailers and department stores. And while customers choose small businesses over larger corporations for a myriad of other reasons, the discrepancy has long been a challenge that the former has had to overcome.

    There will always be a sizable gap between what Sears or Target can offer their customers versus the neighborhood convenience store, but small businesses have begun to close that gap by implementing mobile technology into checkout operations.

    The implementation of tablets as standard POS tools has opened up new opportunities for retailers of all sizes. Not only are small organizations capitalizing on the advantages gained … more

  • Millennials leading mobile payments adoption

    The mobile commerce trend is being led by the millennial generation.

    Most of today's tech trends are fueled by behaviors exhibited by the millennial generation. The emergence of social media, the transition from traditional land lines to mobile communication and, most recently, cable cutting, have primarily gained popularity because of millennials. Now, they are the main demographic leading another major tech trend -- mobile payments.

    Today, virtually everyone born in the last 20 years of the 20th century owns a mobile phone. In most cases, those phones have upgraded from the traditional Nokia "brick" that was seemingly everywhere in the early 2000s to a flip phone and finally to a smartphone, which dominate the mobile space in 2014. Millennials have taken advantage of the evolving functionality of their gadgets by using them for just about every … more

  • Updates revealed to previously big POS breach news

    New updates show the reach of a credit card breach.

    Security breaches at major companies are becoming common headlines. Over the last six months, Target, Apple, Microsoft and P.F. Chang's, to name a few, have been victims of a security flaw in some form. With investigations ongoing, some new details are being released.

    The first major news that was announced this week came from Target. The retailer was the victim of a major breach during the 2013 holiday shopping season. Since then, there has been senate hearings, an executive shake-up and investment in new POS hardware and software. This week, however, an article from Forbes announced the actual cost of the breach, which amounts to $148 million.

    P.F. Chang's China Bistro also released more information about its breach this week. According to a statement from the company, over the … more

  • Apple allows bitcoin app back in App Store

    In the case of mobile commerce, many payment experts are still waiting for Apple to get involved in the industry before they declare the mobile wallet the next big thing. With every press event, there are rumors that the company is adding near field communication technology to the hardware, and when it passes without an announcement, there is disappointment.

    This week, that excitement is back, not because of NFC, but rather bitcoin. According to an article from Wired, after a six month ban on the app, Apple has allowed Blockchain to return to the App Store. Considering it is the world's most popular bitcoin wallet, this move could be the first step in embracing a new form of digital wallet on the Apple platform.

    "This seems to be the first strong and real sign [Apple … more

  • Visa, MasterCard facing more interchange lawsuits

    Visa and MasterCard are facing more merchant interchange fee lawsuits.

    Just when it seemed that the credit card processing fee lawsuits against Visa and MasterCard were coming to an end, the processes is starting again. Previously, a large group of retailers had come together and filed a lawsuit against the card companies over processing fees. A settlement was reached in 2012 and a $5.7 billion final settlement was approved by a judge in December of 2013.

    However, a large portion of the merchants involved in the suit rejected the settlement and pulled out, looking to re-file. Now, according to an article from Bloomberg, Visa and MasterCard are facing more than 30 new suits that have been filed by some of the top merchants in the country including Target, Wal-Mart and Macy's. These suits just overcame their first hurdle, as the card … more

  • EMV and mobile POS systems to collide

    Square has announced it is working on a mobile EMV chip reader.

    Two of the hottest trends in the payment landscape are mobile devices and EMV chip-cards. The latter is a security feature that has an industry-wide deadline for adoption of October 1, 2015, and the former is a new way to look at POS hardware. While both have companies updating payment systems, they are few options on the market that handles both of them.

    However, it now seems as if that could be changing. According to a recent article from Payment Source, Square has announced that it is creating a version of its mobile card reader that will be able to handle EMV-chips.

    Square is one of the leaders of the mobile POS marketplace. With just a small piece of plastic plugged into the headphone jack and a mobile application, any smartphone or tablet is now capable of accepting credit card … more

by Ty Hardison

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