Regulations, legal issues, research
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5 things to remember about mobile credit card processing -- While applications, or apps, have made it possible for small businesses to process credit card transactions using their Apple iPhones or other smart phones, there are a few drawbacks to using this technology. ... (more) BBB warns of credit card processing scam -- The credit card fraud involves a sales representative who offers to save the small business owner money on credit card processing fees if they sign a long-term agreement. ... (more) Study: Businesses still don't understand PCI standards -- The new PCI standards have a September 2010 deadline, but only a small percentage of companies that accept credit cards have taken steps to meet them. ... (more) Amex wins suit against merchant account fraudsters -- American Express recently won a lawsuit against Nashville restaurant owners for credit card fraud. Unfortunately, credit card fraud remains prevalent in the United States and worldwide. ... (more) Survey: Small businesses say economy holding steady -- While small business owners were negatively impacted by the recession, a recent survey by Capital One reveals that they expect the economy to improve in the next six months. ... (more) Should you consider a multifunction POS terminal? -- Multifunction point-of-sale (or POS) terminals offer many advantages over traditional ones, including cost savings, customer convenience and PCI-standards compliance ... (more) Why some don't accept plastic -- but should reconsider -- Some small business owners, for one reason or another, do not accept plastic as a form of payment. If you're one of them, here's why you should reconsider. ... (more) 7 things you must know about credit card processing -- Credit card processing can be a complex thing. Here are seven key things that every merchant should know about it. ... (more) Will credit card reform mean higher interchange fees? -- Though consumers gained protections from the credit card companies with recent legislation, experts say a rise in interchange fees will probably be the result. ... (more) How to pick a payment gateway provider -- Online merchants should understand what a payment gateway is, why it is important, and how to select the right one for their business. ... (more) New rules bring merchants new credit reporting burdens -- If a consumer contacts your company with a complaint about information that you have supplied to a credit bureau, you will be obligated to investigate under new federal rules that take effect on July 1. ... (more) California officials examine credit card interchange fees -- Various government and private reports on rising interchange merchant fees have caused officials in California and Washington to consider solutions to help small businesses and consumers. ... (more) FBI warns small businesses about rising cybercrime dangers -- Online banking might not be as safe as you thought. The ABA and FBI are encouraging small business owners to be vigilant about online financial transactions. ... (more) How to pick, use small business credit cards -- Learn about how to choose small business credit cards and how to use them more effectively when making purchases and reaping rewards. ... (more) Visa releases data encryption best practices -- Securing credit card data is crucial. Visa has published a list of best practice recommendations in an effort to help merchants with that big task. ... (more) Study: Businesses lack policies for tackling cybercrime -- Small businesses are lagging in the quest for cybersecurity, a new study reveals. This can be costly for merchants who accept credit cards, for they may be in violation of PCI security standards. ... (more) Thieves use merchant accounts to commit fraud -- Merchants are troubled by recent news of credit card tricksters using merchant accounts for their latest series of fraudulent activities. ... (more) Going global with a merchant account -- If you have not taken your business international, then now is the time to go global. Don't worry about how you will get paid for an international sale; your merchant account will handle it for you. ... (more) Will Congress curb merchant fees? -- With all of the reforms in the credit card industry to ensure fairer interest rate charges and more responsible lending, will the tables soon turn to offer businesses relief from credit card processing fees? ... (more) U.S. merchant fees higher than those in other nations -- Recent credit card legislation sought to make credit card companies more transparent. The end result was that credit card companies can't arbitrarily raise interest rates or charge consumers hidden fees. But what about merchants? ... (more) Financial services company unveils new safeguard vs. ID theft -- PSCU Financial Services of St. Petersburg, Florida now uses CreditLock, a service that lets customers at over 600 credit unions lock and unlock their credit cards with a quick phone call. ... (more) More states adding data breach notification laws -- New data breach notification laws make merchants and vendors responsible for notifying customers when their private data is illegally accessed. More and more states are jumping on board. ... (more) Hacker pleads guilty to giant ID theft; learn how to protect yourself -- Ehud Tenenbaum, also known as "The Analyzer," recently pleaded guilty to a single count of credit card fraud that stemmed from a more than $10 million theft of credit card numbers. ... (more) 4 steps to help you keep credit card processing fees low -- Merchant account providers charge fees for payments made using credit cards. These merchant account fees can really add up, making profits from credit card transactions less. Here's the scoop on how to keep your credit card fees lower. ... (more) Network Solutions data breach stirs controversy -- Network Solutions announces breach that impacts thousands of retailers. However, some retailers fear that customers will blame their small enterprises rather than blaming the company that merchants feel is responsible for the breach. ... (more) Merchant accounts victimized by hackers' unusual scheme -- Even with the data encryption methods currently in place, hackers still have found a fairly large loophole in the credit card processing system. By exploiting merchant accounts, unscrupulous individuals can commit credit card fraud without ever stepping into a place of business. ... (more) United Airlines shifts credit card merchant processing to travel agents -- United Airlines has informed some travel agents that they no longer will have access to United's merchant processing system for credit card purchases. The impact of this remains to be seen. ... (more) New rules let consumers dispute credit report errors with merchants -- Under new rules which go into effect next year, consumers can take up disputes over inaccuracies on their credit reports directly with the businesses that provided the information. Businesses, in turn, are required to investigate these disputes. This could have a significant impact on your record-keeping systems and administrative procedures. ... (more) Credit card processing for nonprofits -- Considering accepting credit card donations for your nonprofit? There are a number of factors to weigh. ... (more) 7-11 gathers signatures to fight credit card fees -- Popular convenience store chain 7-11 objects to high swipe fees on its credit card transactions and has organized a petition to try and get 1 million signatures. It's all to get the attention of Congress. ... (more) Agencies issue frequently asked questions on ID theft rules -- The government is still implementing the Fair and Accurate Credit Transactions Act of 2003. The latest update is the report "Identity Theft Red Flags and Address Discrepancies." Here's what you need to know. ... (more) Get answers to your questions about PCI data security standards -- Small business owners, with the help of merchant account providers and trade associations, can learn more about PCI standards for data security. ... (more) FTC delays "Red Flags Rules" to May 1, 2009 -- Creditors and financial institutions granted a six-month extension to comply with FTC anti-theft 'Red Flags Rules.' ... (more) All you need to know about the discount rate -- When you're shopping for a merchant account, paying attention to the discount rate will help you make the best decision for your business. ... (more) New bill aims to cut merchant fees -- Business owners often complain that they are unable to bargain for lower fees on merchant accounts. The U.S. Credit Card Fair Fee Act aims to help, but banks and credit unions are opposed to it. ... (more) Who regulates merchant accounts? -- There are several agencies that ensure the viability of your merchant account. Here are the key players. ... (more) Credit cards drive growth in small business lending -- The nation's largest card issuers are also the largest providers of small business loans, according to a 2008 report by the Small Business Administration. ... (more) Small business owners' confidence in economy falls sharply -- Small business owners' economic confidence plummeted in May, just a month after reaching its highest level in more than a year, according a new report. ... (more) 5 reasons why data security is a really big deal -- With online and offline identity theft on the rise, it's more important than ever to pay attention to data security and how it applies to your business. Here are some reasons why data security needs to be a top priority for your business. ... (more) Tips for merchants on how to combat charge-offs -- There are several ways you can dramatically limit the number of credit card charge-offs your business encounters. Credit card charge-offs happen when a purchase is deemed uncollectible, which can put a big dent in your enterprise's merchant account. ... (more) 'Red Flags Rules' deadline extended again -- The implementation date for the 'Red Flags Rules,' which require merchants to have written plans to combat ID theft, has been pushed back again by the FTC to Aug. 1, 2009. ... (more) What merchants must know about PCI security standards -- PCI security standards help to ensure that credit card transaction processing runs smoothly in regards to protecting cardholder data. Merchants should familiarize themselves with the standards before accepting any of the major brands of cards. ... (more) IRS targets merchants processing offshore cards -- The IRS is widening its net in an attempt to pull in tax-evading merchants who use offshore accounts to hide income. ... (more) House subcommittee debates card security standards -- A House subcommittee panel expressed doubt in a March 31 session that the current Payment Card Industry Data Security Standard (PCI DSS) council requirements imposed on merchants significantly prevent electronic crimes. ... (more) Merchant account terms: Glossary, definitions -- Merchant accounts have their own special language, and for the business owner accepting credit cards, they're crucial to know. ... (more) FAQs about applying for a merchant account online -- Frequently asked questions about merchant accounts, which are easy to use, but sometimes tricky to set up. ... (more) How merchant account transactions work -- This interactive guide to merchant account processing and transactions lays out, in simple fashion, each step, from the customer's credit card swipe to money in the businessperson's pocket. ... (more) FTC delays 'Red Flags Rules' to May 1, 2009 -- Creditors and financial institutions granted merchants a six-month extension to comply with FTC anti-theft 'Red Flags Rules.' ... (more) 'Red Flags Rules' require merchants to help fight ID theft -- On Nov. 1, 2008, credit card issuers and businesses that extend credit must establish policies -- called the Red Flags Rules -- to help detect fraud. ... (more) 5 ways to prevent employee credit card abuse -- Here are 5 steps small business owners can take to prevent unauthorized credit card purchases by employees. ... (more) Merchants struggle to secure user data, deter identity theft -- Merchants' battles to secure consumer credit card data never end. That's why the credit card industry imposes mandatory security standards on merchants, processors, manufacturers of PIN entry devices and application developers. ... (more) Rules changing for merchants handling credit card data -- Safety concerns for consumers' credit card information prompt changes in the way businesses handle data. ... (more) Business credit scores: What they are, how to boost yours -- Just as an individual has a credit score, so does a business. As with individual scores, the number determines whether your business gets credit and at what rate. ... (more)
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