Fraud is something that merchants and consumers alike must be concerned with, especially since fraudulent activity continues to run rampant.
For many small businesses, much of their income for the year stems from just two months, November and December. According to the National Retail Federation holiday retail sales are expected to grow between 3.6 and 4 percent for 2017, for a total of $678.75 billion to $682 billion, which is up from $655.8 billion last year. If your payment processing system is not up to par, you could be missing out on your piece of the expected sales increase.
With so many payment methods available, it may seem overwhelming to decide which payment methods are best for your business.
Nowadays, you would be hard pressed to find someone without a smartphone attached to their hands. It seems as if the technology has become an extension of ourselves, something that no one wants to go without. With the added convenience of smartphones and tablets have provided us, it’s no surprise that those have spilled over to the business realm!
By now, you have probably heard the buzzwords “EMV”, “chip cards”, or Fraud Liability Shift”, but do you really know what they mean? As a business owner, it’s critical for you to understand the importance of accepting EMV chip-enabled credit and debit cards. We have put together the top reasons why International Bancard feels all businesses should be accepting EMV chip cards and will help you understand the significance of EMV when it comes to your business.