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Majority of Login in Attempts at Online Retailers are from Hackers.

Majority of Login in Attempts at Online Retailers are from Hackers.

Everyday stolen data is sold on the dark web. Information that ranges from social security numbers, driver’s licenses and even diplomas sell for a range of prices according to Experian credit monitoring. As reported by Quartz, one method that hackers or online thieves will employ is to buy huge amounts of the previously mentioned stolen data, like emails addresses, and use them to try to log into online retailers websites posing as actual customers. If the hackers are able to

Common Fallacies About Accepting Payments Online

Common Fallacies About Accepting Payments Online

Canada is the global leader in credit use with credit cards accounting for more than 462 billion dollars in sales in 2016 alone. Yet, there are still businesses that are apprehensive about accepting credit cards. Some business owners chose not to accept credit card payments because they feel that accepting credit cards will not be worth the hassle or cost. However, when looking at the common reasons that prevent business owners from signing up for a credit card merchant acco

Myths About Contactless Cards

Myths About Contactless Cards

MasterCard first introduced contactless cards back in 2003 with the goal of giving customers an easy, safe and fast way to pay for items. MasterCard also developed the contactless cards with an extra layer of security by utilizing embedded chips and radio frequency antennas to create secure transactions. However, since the payment information is being transmitted wirelessly many customers and business owners question whether it is safe. According to MasterCard, the answer is

What exactly is a virtual terminal?

What exactly is a virtual terminal?

The first POS system was introduced by IBM in the 1970s. These top of the line systems were simple and bulky and required terminals that were wired back to mainframes. It was not until the 1990s with hardware and software updates and advances that the touchscreen terminals we use every day when we shop began to grow in use. However, with the advent of the internet, POS systems and credit card processing has made another major advancement with the advent of virtual terminals.

Understanding the difference between Bundled and Pass-Through Merchant Arrangements.

Understanding the difference between Bundled and Pass-Through Merchant Arrangements.

Being a business owner is an extremely stressful and busy job. Business owners have to manage or at least be aware of several complicated features of their business including sales, payroll, taxes, inventory, employees, accounting, state and local laws and much more. Often with so many other important things on a business owner’s mind, the last thing they are thinking about is whether the structure of their credit card processing fees costs them money, However, understanding

Equifax Breech’s Impact on Canadians

Equifax Breech’s Impact on Canadians

Every week new information comes to light about the Equifax data breach which according to the NY Times has exposed 146 million Americans personal information. According to the company’s former CEO, the breach was a result of a mistake of a single employee. No matter who is at fault for the breach the data can cause many negative repercussions in the wrong hands. One of the most potentially harmful results of the data breach can be individuals identify being stolen and used

How to Accept Payments Online

How to Accept Payments Online

Online Canadian businesses are booming. Last year 76% of Canadian shopped online and a quarter of those that shopped online were considered frequent shoppers (source). As a business owner, you need to have an online presence, or your business will likely be losing out on a considerable amount of business and market share. Depending on your industry you may be selling services or products that can all be purchased or paid for online. However, being able to accept online transa

Digital Privacy Act Set to Go into Effect in the Fall, Are You Ready?

Digital Privacy Act Set to Go into Effect in the Fall, Are You Ready?

Verizon is the latest company to announce that up to 14 million subscribers’ records were potentially exposed to hackers. The exposed data included customers, names, addresses, cell phones, and account PINs. The hack was so comprehensive that the hackers could have potentially taken over customers’ accounts and hijack their phones (zdnet). The Verizon hack is just one of many high-profile data breaches that have been announced in 2017. Major companies such as Arby’s, Saks Fi

Protect Your Business Against Credit Card Fraud

Protect Your Business Against Credit Card Fraud

As e-commerce continues to grow in Canada and more Canadian businesses rely on online credit card processing, so to has fraudulent online purchasing risen. According to the Canadian Bankers Association, while Canadians have seen a drop in the cost related lost, stolen and counterfeit domestic credit cards from 2008 compared to 2015 there has been a drastic increase in fraud related to card not present transactions (Fraudulent e-commerce, telephone and mail purchases). In fact

What is Your Effective Credit Card Rate?

What is Your Effective Credit Card Rate?

To be a successful business owner, you need to know your business inside and out and constantly be looking for ways to lower your costs. If your business accepts credit cards one cost your business accrues every month is credit card fees that go to your credit card processor. With the stress and time involved in running a business, it can be hard to sit down and evaluate how much of your profit is going to your credit card processor and whether it makes sense for you to switc

Which Merchant Account Pricing Model is Right for You

Which Merchant Account Pricing Model is Right for You

Canadian businesses rely heavily on merchant accounts in order to accept credit card payments. With the introduction of companies like PayPal and Square the hassle of getting a merchant account was drastically reduced and the potential for more businesses and individuals to accept credit cards as a form a payment increased dramatically. While the introduction of more merchant account providers may seem like a win for business owners, many business owners fail to shop around f