Bitcoin vs. Credit Card
Some adventurous small-business owners are experimenting with accepting bitcoin in payment for their products and services. While this all-digital currency may evolve into a practical payment method sometime in the future, right now it offers little benefit to you or your customers. Here's a quick comparison between bitcoin and credit cards.
Protect Your Business From Credit Card Fraud
As a business owner, you don’t enjoy the same protections against credit card fraud that federal law extends to consumers. If you lose money due to someone making a purchase with a stolen credit card, you have only a 60 percent chance of recouping your loss. In 2014, credit card fraud cost U.S. business owners over $32 billion. Here’s a quick review of basic measures you can take to protect your business from credit card fraud.
Is Credit Card Interest Tax Deductible?
As a business owner, you look for every possible tax credit and deduction in order to reduce your tax liability. One helpful deduction that’s easy to overlook is credit card interest. Here’s what you need to know.
How Credit Card Information is Stolen
Modern pickpockets use both physical and digital means to swipe personal and account information from your credit card. In most cases, it takes only an instant and leaves behind little traceable evidence that can lead back to the culprit. Most victims don't even realize they have been exploited until it's too late.
Smart Cards and Credit
More vendors are moving toward use of the smart chip inside of a traditional credit card. The smart chip has been used by the United States military for many years in ID cards and is finally seeing use as a commercially viable credit card. These types of cards are known as smart cards and come with a host of additional benefits for shoppers as well as new payment processes that add convenience and security.
PCI stands for payment card industry. The payment card industry is a collective name for the credit, debit, ATM, prepaid, and point-of-sale card businesses. Learn the rest of the ins and outs of PCI in this handy article.
What is Credit Card Factoring?
Credit card factoring happens when a merchant account is used for non-merchant-account related transactions. There are actually two processes that are known as credit card factoring. Traditional factoring is illegal, whereas merchant cash advance factoring is becoming commonplace.
Credit Card Chargebacks
A chargeback is when a client disputes a credit card charge made by a company. This is not good for the business, who could be counting on high-price purchases for their company. The company may not be at fault, but they will be the ones to refund the cash. Here's how to prevent it.
Changing The Game
If you are a business owner, chances are you've had to deal with credit card processing in some capacity. Unless you have a PhD in Quantum Physics, it can be very difficult to understand. Even then, it’s complicated. Keith Miller, President of Authorized Credit Card Systems, has created a credit card and transaction processing firm that puts clarity and good old-fashioned customer service back into the equation.
6 Baffling Facts About Credit
Credit is a fact of life in modern America. Building good credit is necessary for those entering adulthood and understanding the impact of credit is something that every merchant should understand. Take a look at some of these unbelievable facts about credit in the last few years.