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Credit Card Processing: From Magnetic Stripes to EMV

A large number of problems, issues, and conspiracies revolving around credit card processing led to standardizing all credit card transactions according to a new format, EMV.

Named after its introducers, EuroPay, MasterCard, and Visa, the credit card processing technologies around the world will be taken over by EMV latest by October 2015. All merchants, merchant account holders, and merchant account services will be subjected to new EMV standards and most importantly, it will indicate a shift from magnetic stripe cards to chip based cards.

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How To Enroll Visa/MasterCard Settlement Claim

In a recent court case, a group of merchants objected to the processing rates set by Visa and MasterCard, and issuing banks.

In the lawsuit, it was claimed that merchant services end up paying a lot more fee for processing Visa and MasterCard payments because of an alleged conspiracy. However, in a 55 page long ruling, US District Judge John Gleeson stated that the new settlement will encourage competition and promote the idea of transparency in payments, helping to avoid some misleading tactics used by a few providers. Continue reading How To Enroll Visa/MasterCard Settlement Claim

Why Choose Cloud Based POS System?

Cloud based point of sale (POS) systems have become increasingly popular with various businesses including retail, restaurants, fast food, etc.

The major reason of their popularity is that a cloud based POS system can be accessed from multiple devices and platforms such as smartphones and tablets for both iOS and Android devices.

Whether you run a retail business or restaurant a cloud based POS is extremely beneficial for your business when paired with your credit card processing services, or merchant account provider services,. Merchant account providers sell many solutions that allow your business to easily access sales, inventory or labor functions on multiple devices. You can use various features of the system to easily enter and access inventory data.

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How Do Chip-based Credit Cards Enhance Your Security?

EMV or chip-based cards provide added security for credit card processing and merchant account services. Modern point-of-sale devices will most likely remain with us for some time, and these devices require more secure credit card processing.

Businesses such as those providing merchant services need to offer their customers easy modes of payment. Ideally, merchant account providers should accept virtually all types of payment, but providing chip based cards satisfy a client’s security needs too.

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An Overview of Credit Card Processing Services

Credit card processing solutions are required by individuals, merchants and small and large businesses alike.

Many banks and financial companies provide merchant services using EMV, wireless and dial-up terminals to merchants. The services can be availed by various businesses including credit card merchant services, merchant account services, and other such services. The technology used in credit card processing services has undergone major changes with the advent of fast and ubiquitous internet services. Mobile and wireless processing is becoming more and more common these days. With the advent of EMV technology, credit card processing has become safer and more secure. Continue reading An Overview of Credit Card Processing Services