The MidWest Acquirers Association (MWAA) held its annual conference at the Renaissance Schaumburg Hotel and Convention Center in Schaumburg, ILL., from July 21 to 23, 2010. The theme for this year’s trade show and conference was “Changing Times…Changing Visions,” providing an opportunity for the Midwest acquiring community and professionals to network, learn and share new information for overall industry growth.
Don’t get confused about convenience fees. As a merchant with a business accepting credit cards, it is your responsibility to understand who can and who can’t assess a convenience fee, and be sure to understand the don’ts. Read on to learn more.
In a recent video interview with MagTek, held at the ETA 2010 Annual Meeting and Expo in Las Vegas, Director of BluePay Kristen Gramigna discussed the benefits of secure credit card processing solutions for both small and large businesses. Among the critical points she touched upon included BluePay services that range from virtual terminals to recurring billing, as well as the importance of credit card tokenization and data encryption at the point of sale.
As of July 1, 2010, the Card Associations will require merchants and retailers everywhere to comply with PCI standards for a more secure payment and credit card processing system. Becoming PCI compliant involves the use of advanced technology and tight security standards to keep customers’ sensitive credit card data safe from credit card fraud and security breaches. Point-to-Point Encryption (P2PE) is at the top of the list when it comes to emerging technologies that protect information and help merchants meet PCI requirements.
As consumers rely increasingly on the Internet to make convenient and efficient payments, e-commerce merchants must take the proper precautions in making their payment processing system as secure as possible. If a customer’s credit card information is compromised and used for fraudulent activity, not only can the customer suffer from damaged credit and lost funds, but merchants can also be held responsible and end up paying hefty fines for the stolen data.