Solupay Blog

Merchant's Responsibility in Preventing Credit Card Data Breaches

Posted by Jayme Moss on Jul 14, 2017 9:05:00 AM

In today's commerce climate, there are limitless opportunities for merchants to sell their goods and services. At the same time, there are limitless opportunities for thieves to exploit merchants and consumers. Credit card data breaches at major retailers have made the news wire too many times to count, and when it comes down to it, it is up to the merchant to understand the responsibility they have in protecting their client's data when accepting credit card by enforcing appropriate security measures.

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Topics: Card Security

3 Ways ACH Will Actually Advance Your Sales

Posted by Jayme Moss on Jun 19, 2017 12:38:29 PM

ACH (Automated Clearing House) payments have become popular largely because of their convenience, reliability and cost-effective solutions.  ACH is a payment solution that accepts payments by moving funds from one bank account to another electronically through routing numbers. If your business is utilizing direct deposit to pay employees, whether you know it or not, you’re already using a form of ACH and are aware of these benefits. But how can ACH payments actually increase sales for your business?

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Topics: Recurring Billing, Alternative Payments

Three Tools to Improve Cash Flow

Posted by Joe Musitano on Jun 8, 2017 10:26:04 AM

The formula for improving cash flow is simple: collect account receivables as fast as possible, and slow down your accounts payable without jeopardizing your relationship with suppliers and partners. Knowing that most businesses, and even individual consumers, operate with the same ideology in mind means the challenge to get paid faster may seem insurmountable. Which is why an industry exists to create products that focus on helping businesses get paid faster. When cash flow slows, the likelihood of survival decreases. In fact, the lack of cash is one of the top reasons that small businesses fail. 

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Topics: Cloud Collect, NetSuite SuitePayments

Solupay Built: New and Improved Interface for PayPal within NetSuite

Posted by Joe Musitano on Apr 12, 2017 1:45:02 PM

PayPal continues to evolve and strive to make payment acceptance simple. As the most innovative SaaS based ERP company in the world, NetSuite made the decision to support PayPal natively within their two eCommerce platforms (SiteBuilder and SuiteCommerce Advanced) early. As PayPal has continued to evolve, with Express Checkout and other advanced features, the need for broader support and functionality for PayPal within NetSuite emerged.

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Topics: NetSuite SuitePayments

How You Can Increase Sales Volume with Modern Financing Options

Posted by Joe Musitano on Feb 13, 2017 5:29:57 PM

It’s no secret that many consumers have lost trust in financial institutions, especially millennials.  This is underscored by the fact that the people in the age bracket of 25-35 years old carrying credit card debt is at its lowest since 1989.A recent survey conducted by Affirm, the financial service brainchild of PayPal co-founder Max Levchin, found that 64% of respondents worry about the final cost of items bought with credit due to a history of deceptive practices in the industry. In fact, more than half also said that the uncertainty of the final price—due to interest and unclear terms—made them enjoy their purchase less, which is never a good thing for a retailer. But is this reason enough for merchants to abandon financing?  Absolutely not.  It is, however, reason for merchants to look at more modern financing options that appeal not only to the millennial buying power, but to the masses. 

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Topics: Integrated Payments, NetSuite SuitePayments

Card Fraud Down - and Up - Thanks to Chip Technology

Posted by Joe Musitano on Feb 3, 2017 2:51:14 PM

With 2016 behind us, Visa announced statistics for the first full year that chip technology has been in use in the U.S. Much can be gleaned from the data, including the fact that almost half of in-store transactions used EMV in 2016, and most of those were not from the big box stores, but rather, from small and mid-sized businesses. From all the information, however, this is certain: While chip technology has impressively cut card present fraud, eCommerce has become the newest target for attackers.

Over the course of the year, the number of merchants using chip-enabled terminals more than doubled, with 39 percent (or 1.81 million) of all merchant locations using EMV technology. The majority of these merchants - 82 percent of them - were small and medium-sized businesses. Chip transactions comprised just about half (49 percent) of total payment volume in card present transactions.
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Topics: EMV, Online Fraud, Card Security

Improvements in Payment Technology Have Expanded Recurring Billing Options

Posted by Jayme Moss on Jan 26, 2017 10:51:20 AM

Does your business operate on a monthly subscription basis? There are many types of monthly billing subscriptions, from standard subscriptions to metered (or usage-based) billing, base plus per user pricing, multiple subscription billing and more. No matter how difficult your subscription model may seem, being able to automate the billing process is possible and can save you time and money. Many of the shortcomings that previously were prevalent in Recurring Billing plans are no longer an issue due to advances in technology, such as Account Updater.

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Topics: Recurring Billing

How to Increase Security without Creating More Friction at Checkout

Posted by Joe Musitano on Jan 11, 2017 11:15:40 AM

When it comes to payment authorizations for your online sales, the growing need for advanced security is often times at odds with the customer experience. While consumers are aware of cybersecurity risks, the perception that there are too many obstacles during the checkout process can often lead to abandoned carts. For consumers who order from you often, the friction at checkout can lead them to look elsewhere. How can e-commerce merchants achieve the necessary security to keep their data, and their client's data safe, while still satisfying a speedy, frictionless checkout process with less false failures?

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Topics: Card Security

Top 10 Ways to Detect Fraud for Card Not Present Transactions

Posted by Joe Musitano on Aug 26, 2016 1:22:59 PM

With CNP fraud on the rise since the EMV chargeback liability in the US took effect last October, it's in the best interest of retailers engaging in eCommerce and taking phone orders to increase their focus on securing those transactions. Here are 10 ways to detect and prevent fraud to avoid chargebacks on Card Not Present transactions:

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Topics: Online Fraud, Chargebacks, Card Security

Is e-Commerce Going to End Brick & Mortar Stores?

Posted by Joe Musitano on Aug 22, 2016 2:00:00 PM

It's a mighty thought to ponder given the latest data released from JP Morgan, but the state of all commerce is posed to take advantage of today's shoppers.  The internet has opened up a wealth of product knowledge, consumers can research products, compare specs and read reviews well ahead of buying time.  But, will the desire for instant gratification and a hand's on in-store buying experience ever disappear?

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