BluePay Blog

Radiofrequency identification (RFID) is a type of wireless technology used to communicate with items over short distances. Warehouses and stores, for example, often use RFID tagging to track inventory.  However, many credit cards use a subset of RFID technology — known as near field communication (NFC) — to initiate contactless payments.

Topics: PCI Compliance and Fraud Prevention, Consumer Education

Credit reporting agencies (aka credit bureaus) are responsible for collecting consumer credit data that businesses then use when assessing a person’s ability to meet certain financial obligations: A bank, for example, might use a borrower’s credit score to determine what interest rates to charge. The lower the score, the greater the risk of not being paid back. As such, that lender would likely charge a higher interest rate.

Topics: Awareness, Consumer Education

March is National Credit Awareness Month — that special time of year when everyone is encouraged to sort their finances and climb out of debt.  To accomplish either of these goals, improving your personal credit score is essential.  Ranging anywhere from 300 to 850, credit scores may seem somewhat arbitrary. After all, how can you accurately capture a person’s financial health with a simple three-digit number?

Topics: Small Business Tips, Awareness, Consumer Education

Americans have a love/hate relationship with debt. Credit cards and cheap financing allow us to enjoy perks we wouldn’t normally be able to afford. Yet, as the numbers below illustrate, this convenience and access can quickly get out of control.  Nationwide, total household debt is now approaching $13 trillion — an amount that has steadily risen over the past four years.

Topics: Small Business Tips, Awareness, Consumer Education