Solupay Blog

No Signature Required - Card Brands Look to Improve Checkout Times

Posted by Joe Musitano on Jan 17, 2018 1:23:38 PM

This fall we saw some major announcements regarding changes in the way future POS credit card transactions were going to be processed.  In October, MasterCard announced it would no longer require signatures at point-of-sale transactions in the U.S. and Canada beginning in April 2018.  Shortly thereafter, Discover announced similar intentions, requiring no POS signatures, expanding this initiative to not only the U.S. and Canada, but also Mexico and the Caribbean.  Not to be left behind, AmEx announced in early December it would also implement this change in April 2018 on a global scale.  At this time, VISA is the lone holdout, still requiring signatures at point-of-sale. Odds are the antiquated signature requirement will be dropped by Visa soon considering that it is difficult to prove that the signature was indeed the cardholder’s.

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Topics: PCI, NetSuite SuitePayments

Hate to Say I Told You So, CNP Fraud Continues to Rise

Posted by Joe Musitano on Nov 17, 2017 10:22:01 AM

Card not present transaction fraud continues to rise since the establishment of the EMV chargeback liability shift last October. As card present transaction fraud decreases we've seen a direct increase in card not present transactions. CNP transactions include any payment made where the card is not physically present. As predicted, The US Payments Forum 2017 report concluded that the increase in security of chip cards forced fraudsters to focus their attention to CNP. They believe that this trend will continue into 2018 and we can expect to exceed $6 billion in fraud dollars. 

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Topics: EMV, Card Security

Own a Startup? Don't get Fooled by Costly Payment Processing

Posted by Jayme Moss on Oct 23, 2017 2:00:00 PM

Now that the economy is rebounding, and a greater sense of security has hit the markets, we are seeing startups on the rise again. In the world of new businesses, achieving success is a goal that can be fleeting and often hard to realize let alone evaluate. Too often owners, anxious to take their product or service to market, turn to payment processing options that are easy to get going, but in the end can be costly and prohibitive. Having the ability to charge and receive payments promptly, accurately, and efficiently and maintaining a steady cash flow is crucial to the survival of your new business. Rather than jumping to the quick fix, take a few minutes to research options and partner with a company that can provide a variety of payment solutions, simplified for ease of use and convenient in order to appeal to all of your customers. Being able to collect on your receivables, manage your business and capitalize on your revenue are important factors in the success of your new endeavor. 

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Topics: Interchange

Leverage Electronic and Alternative Payments, Gain Marketplace Advantage

Posted by Joe Musitano on Sep 12, 2017 2:42:15 PM

Many merchants consider credit card processing fees as simply that... fees that are a normal part of doing business and a cut to their bottom line. But we challenge you to view credit card processing in a different light: As an opportunity to attract newer customers, increase shopping cart size with integrations, accept alternative payments and provide innovative and secure developments. 

Earlier this year, Solupay was named 2017's Innovator of the Year because of our ability to focus on new and advanced features that are designed to not only make our clients operations easier, but to contribute to increasing their revenues.

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Topics: Integrated Payments, Alternative Payments

Case Study: Putting Credit Card Acceptance Processes to Work

Posted by Joe Musitano on Aug 23, 2017 10:29:01 AM

For years, Becker Safety and Supply was accepting credit cards and saw the extra steps and inconveniences of their credit card acceptance program as just a nuance of business. Established in 1999, Becker is a wholesale/ distribution company providing protective clothing and tools for any industry where safety is a concern. Devin Becker quickly became excited by the many advances that Solupay provides with our Built for Oracle + NetSuite payments bundle.

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Topics: Integrated Payments, NetSuite SuitePayments

Download the Ultimate eGuide on the EMV Chargeback Liability Shift

Posted by Jayme Moss on Aug 7, 2017 3:01:00 PM

EMV is a trending topic, whether you are a merchant, bank, or payment processor. The EMV Chargeback liability shift pertains to card present transactions only.  We have put together this eGuide to assist in educating and guiding your understanding of EMV and how it impacts you. 

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Frictionless Checkout, What it Means to You

Posted by Joe Musitano on Aug 6, 2017 12:00:00 AM

If you are an online retailer, you know all too well the importance of creating a checkout that is as easy as possible and in as few steps as possible. But creating an easy, frictionless checkout becomes complicated when you add in necessary security features to process payment transactions. It is very easy for an online shopper to abandon their cart, change their mind, or Google their purchase elsewhere. Now there is a process called 3D Secure Advanced that has accomplished secure checkout, without the friction of the original 3D Secure. Here is how:

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Chargebacks: The Good, The Bad, and The Ugly

Posted by Jayme Moss on Aug 3, 2017 1:00:00 PM

Don’t let chargebacks (and the issuing bank lobbyists) derail your business

Credit card chargebacks can often be the bane of a small business owner’s existence. They require significant investments in time and labor to research and respond. Let’s face it: The card issuing banks have lobbied for years to ensure that the cardholders receive the benefit of the doubt when there is a chargeback case, not the merchant.

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What is Tokenization and Multi-Merchant Tokenization?

Posted by Jayme Moss on Aug 2, 2017 1:00:00 PM

In one of our "Bill Gates meets Steve Jobs" moments a few years ago, the innovators here at Solupay changed the world with "Multi-Merchant Tokenization." OK, OK... perhaps comparing us to technology legends is a stretch,and maybe this concept won't revolutionize the world like Apple and Microsoft have done, but we did coin the phrase Multi-Merchant Tokenization, and it’s really not a hard concept to understand and see why it has been successful. Plus it has proven to be an added convenience for customers of e-commerce merchants, while making life easier for the merchant while providing a better end user experience.

Let's take a closer look at Tokenization and Multi-Merchant Tokenization.

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View our Video that Helps You Get Paid 20% Faster

Posted by Brendan Hickey on Aug 1, 2017 2:00:00 PM

Accounts receivable is truly the lifeblood of any business that extends credit to customers. Manage it effectively, and you can grow your business strategically. Manage it wrong, and you introduce inefficiencies and increase costs that erode margins.

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