How Exchange Rates Affect Global Payments

Exchange rates directly impact global payments by determining how much one currency is worth compared to another. Here’s what you need to know: What Are Exchange Rates? Exchange rates show the value of one currency against another. For example, in June 2024, €1 was worth $1.07. Rates can be free-floating (market-driven) or fixed (pegged to […]

Flat Rate vs. Interchange Plus Pricing

Choosing the right payment processing model can save your business thousands of dollars annually. Here’s what you need to know: Flat Rate Pricing: Simple and predictable, with a fixed percentage (e.g., 2.9%) plus a small fee per transaction. Best for small businesses earning under $200,000/year. Interchange Plus Pricing: Breaks fees into components (interchange, card brand, […]

Common QR Code UX Issues and Fixes

QR codes are everywhere – restaurants, stores, and even on product packaging. But they’re not perfect. Common problems like poor design, bad placement, and security risks can frustrate users and hurt your business. Here’s how to fix them: Bad Scanning Experience: Use high-contrast designs, proper sizing (e.g., 1"x1" for every 10 inches of distance), and […]

What Is 3D Secure Authentication?

3D Secure (3DS) is a security protocol designed to protect online card transactions by verifying the cardholder’s identity. It reduces fraud, improves transaction security, and shifts liability for fraudulent chargebacks from merchants to issuing banks. Here’s what you need to know: How It Works: 3DS involves three domains – merchant’s bank, cardholder’s bank, and card […]

Contactless Payment Rings: Security Features Explained

Contactless payment rings make paying faster and safer. These small, wearable devices use NFC technology to securely transfer encrypted payment data with just a tap. They don’t need batteries and work like contactless credit cards but are more convenient since they’re worn on your finger. Key Features: Secure Transactions: Advanced encryption and tokenization protect your […]

What Is Multi-Factor Authentication in Payments?

Multi-factor authentication (MFA) is a security method that protects payment systems by requiring users to verify their identity through multiple steps. It goes beyond just a password, adding extra layers of protection to ensure payment details remain secure. Key Points: What is MFA? MFA uses three types of verification: Something you know (e.g., password or […]

What Is a Merchant Account?

A merchant account is a type of bank account that allows businesses to accept electronic payments like credit and debit cards. It acts as a middleman, temporarily holding funds from customer transactions before transferring them to your standard bank account. Here’s what you need to know: Why You Need It: It enables businesses to accept […]

How to Check Payment Gateway Compatibility

Want to ensure your payment gateway works flawlessly? Here’s how to check its compatibility with your e-commerce platform in three simple steps: List Your Platform Details: Identify your platform version (e.g., WooCommerce 7.8), server setup, and specific payment needs like recurring billing or mobile payments. Review Technical Guides: Check API compatibility, integration instructions, code libraries, […]

5 Payment Processing Challenges for Small Businesses

Payment processing can be a major pain point for small businesses. High fees, fraud risks, delays, outdated systems, and poor provider support all impact your bottom line and customer experience. Here’s how to tackle these challenges: Fees: Interchange, assessment, and processor markups can add up. Regularly review statements, negotiate rates, and use integrated systems to […]

What Is API-Based Payment Integration?

API-based payment integration connects business platforms with payment systems to enable secure, real-time transactions. It automates processes, ensures data security, and supports various payment methods. Here’s a quick overview of its key benefits: Simplified Transactions: Faster checkout with features like one-click payments, real-time validation, and automatic currency conversion. Flexible Payment Options: Supports multiple payment methods, […]