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Archives / 2016 / January
  • Have you accepted the new MasterCard & Visa cards

    Visa and MasterCard card brands have announced options for custom personalization options for new card designs. Merchants should be aware of these options and be prepared to accept any properly presented card at the point of sale.

    Visa Personalization Options

    Effective immediately, Visa will offer an additional option for clients to personalize card designs by allowing certain elements normally printed on the card front (such as cardholder name, account number and expiration date) to be printed on the reverse side. This design option enables clients to showcase their brand on the front of the card.

    MasterCard Personalization Options

    Effective immediately, MasterCard will eliminate the requirement for issuers to print the first four digits of the BIN/PAN below the full PAN. As a result, … more

  • Holiday returns eating into your profits? Here's how to lower your return costs

    Don't let returns cut into your holiday profits any more than possible.

    Every holiday season, as consumers scramble to purchase all the presents on their lists, retailers enjoy the boost in sales as a little gift of their own. However, they are soon snapped back to reality when revenue falls back to normal in January and customer returns start to eat into the stellar profits they recorded before the holidays.

    In fact, most U.S. e-retailers can expect return rates of between 20 and 40 percent of their total online sales, according to Rakuten Super Logistics' recently published "Holiday Returns Handbook."

    "Most U.S. e-retailers can expect return rates of between 20 and 40 percent."

    For businesses without an optimized return process, these returns can cut into profits beyond just the cost of issuing reimbursements — they may lose even more on … more

  • Samsung Pay planning to allow online payments in 2016

    Samsung Pay is looking to expand past in-store purchases and enable online shopping in 2016.

    If 2015 was the year of mobile payment innovation, 2016 could be poised to be the year of online payments — at least for Samsung.

    The smartphone company is planning to expand its new mobile payment option, Samsung Pay, to give consumers the option to pay online in the United States, according to reporting by Reuters.

    Since it debuted on the company's Galaxy phones this fall, Samsung Pay has boasted to be the most widely accepted form of mobile payment. Despite its relatively recent entry into the market, Samsung Pay has been able to achieve this status by using technology that communicates with the magnetic swipe terminals most retailers already have in their stores, unlike Apple Pay, which requires merchants to install special near field communication (NFC) terminals. … more

by Ty Hardison

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