Economy

Some new entrants to the acquiring business got a full report Wednesday on the perils that lie ahead in their chosen field.

Salespeople usually can’t do anything about it when an ISO or processor cancels the residuals earned from signing up merchants for transaction processing.Their attempts are usually stymied by the unfavorable contracts they’ve signed.

A study guide has just been released as a companion to a recent hardcover book aimed at the acquiring industry.The 204-page workbook is called “Credit Card Processing for Sales Agents: Study Guide.”

SecureNet Payment Systems has opened a technology and innovation center in Austin, Texas, and revealed plans for a client operations center in Silicon Valley, Calif., later this year.

Capital Access Network’s subsidiary Newlogic Business Loans Inc. is now granting loans to merchants through ISOs in all 50 states.

ISOs stand to make more money if they provide some of the funding for merchant cash advances, and at least a few are borrowing to do it.

Consumers often view mobile payments as “a lot of craziness going on,” instead of a secure and viable alternative to plastic cards.

A new cloud-based merchant loyalty scheme has earned the backing of a major payments processor and some large retailing chains.

ShopKeep POS, a small start-up ISO, may help change the payments landscape. About 3,000 merchants use its cloud-based point-of-sale system that’s supported by Apple iPads and MagTek mobile card readers.

American card issuers and acquirers were “dragging their feet” until recently on the transition to the EMV chip card standard, but several companies hope to speed the transition by making a clear business case for the technology.

Some ISOs intentionally make merchants’ monthly statements as confusing as possible, while others are working to dispel the mysteries of billing.

American card issuers and acquirers are "dragging their feet" on the transition to the EMV chip card standard, but some companies hope to speed the transition by making a clear business case for the technology

The Payment Card Industry Security Standards Council plans to recruit more soldiers in its ongoing war against fraudsters and cybercrooks. It’s allowing any individual with a security background or interest in payments security to become a certified PCI Professional.

More consumers are using mobile devices to pay for online purchases, but small merchants aren’t doing much to accommodate them. That lack of preparation leaves an opening for ISOs.