The act of swiping a credit card in the checkout line of a store could soon be replaced by the act of waving a smartphone in front of a sensor, which may have greater implications on mobile commerce and internet retailers that provide a PayPal alternative.
Near field communications (NFC) technology, developed in the last decade and implemented by Google this year for its Wallet application, will allow a consumer to store credit card, debit card and gift card information on a smartphone. The phone can then exchange information with devices that are outfitted with NFC technology.
Industry observers predict that this will expedite electronic transactions, as the arduous task of inputting credit card information online will no longer be necessary.
What is still uncertain is whether consumers, who are already wary of storing and sharing vital financial information on their mobile devices, will embrace this technology.
A ThreatMetrix survey found that only 29 percent of consumers claim to have used a mobile banking service, while more than half of the respondents who had not used such a service said it was because of security concerns.
But, if mobile payments surge in the next decade, as many industry experts predict, more consumers will become familiar with mobile commerce, which could compel e-commerce companies to implement mobile payment capabilities through their merchant account manager.
For that to happen, more telephone providers and credit card companies will need to support NFC technology. Currently, Google Wallet is only partnered with Sprint, Citigroup and MasterCard, although other companies are beginning to align themselves on this dynamic landscape.
Businesses that have opened a new merchant account for their retail website may soon benefit from a recent Federal Reserve Board ruling that will affect the transaction fees they pay to debit card issuers..
A strong payment platform is key as the holiday season approaches. In a tight economy, consumers may want to spread their holiday spending out over the course of a few months, which means merchants will need to have their websites optimized sooner rather than later.
The act of swiping a credit card in the checkout line of a store could soon be replaced by the act of waving a smartphone in front of a sensor, which may have greater implications on mobile commerce and internet retailers that provide..
Customers are often on the lookout for bargains, price breaks or anything that convinces them that they are obtaining a great value for a service or product. That’s true whether they are shopping in a brick-and-mortar outlet or at a retail website.
Owners of international, high risk or emerging businesses that require merchant accounts to accept credit cards online have many factors to consider when choosing a reliable merchant service provider.
Online merchants face more risk than ever. With the continued evolution of mobile payments and emerging technology, fraudsters are finding new vulnerabilities to exploit and new ways to steal money from your bottom line. Unfortunately, there’s also another culprit lurking around, often unknowingly denting your bottom line – the overuse of fraud tools.
With more individuals becoming comfortable with the concept of online dating, the industry has experienced a boom in terms of use and profitability. As a result, companies that provide this service need to ensure they’re making use of the most beneficial tools and strategies, including payment processors backed by high-risk merchant accounts.
Once a company determines it requires a high-risk merchant account, it must perfect its customer service model. In an era driven by social media interactions, the consumer-business relationship is more direct than ever before.
Established internet businesses may eventually find that the opportunity is ripe for them to expand to different international markets. This can be a critical step in the progression of any business, and entrepreneurs need to ensure they’re approaching this milestone with caution.
A new study on the buying activity of consumers using tablets may encourage more businesses to develop a mobile payment strategy that accommodates the devices. Arranging such a payment service in conjunction with offshore merchant accounts may allow companies to tap into a profitable market at a lower cost.
With the limited supply of US merchant banks that want this business and the increase in affiliate and friendly fraud targeted towards the dating industry, it is virtually impossible to keep a dating website live long-term..
Whether they are working with domestic-based merchant accounts or offshore merchant accounts, e-commerce businesses need to keep on top of the money they spend to maintain these financial tools…
