Done correctly, automation can be a huge money-saver. This is why so many merchants embrace recurring payments. Every billing cycle, money automatically comes into their accounts without their having to actively send out new invoices.
But this only represents the tip of the iceberg. There are many additional benefits that merchants receive when they enable recurring payments, including:
QuickBooks is the most popular accounting software on the planet, with an impressive 75 percent global market share. Designed for novices, the platform's intuitive interface makes bookkeeping a breeze — complete with tutorials, automation, and unparalleled technical support. Under the hood, however, QuickBooks also delivers a host of powerful features for heavy users with very demanding business needs.
Payment card industry (PCI) compliance is a set of guidelines that govern data security across a broad range of debit card, credit card and ACH payments. In order for your merchant account to remain in good standing, you must satisfy the regulations outlined by the PCI Security Standards Council.
But as with most regulatory guidelines, PCI standards evolve with time, usually to reflect changing needs or emerging security threats. The first standards were established in December 2004 (PCI 1.0), and the payment industry has benefited from two additional major updates:
Short for “near field communication”, NFC allows devices in close proximity to wirelessly transfer data back and forth. The technology is very similar to Bluetooth, but NFC uses far less power and works over much shorter distances.
In the world of commerce, merchants and consumers use NFC technology to initiate contactless payments via credit cards or mobile devices. Rather than physically swipe plastic, consumers simply wave their preferred payment delivery device across an NFC reader to authorize transactions.