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BluePay Blog

Differences Between Prepaid, Debit, and Gift Cards

Posted on May 02, 2019
According to The  Nilson Report, payment cards generate more than $6.5 trillion in purchase volume annually in the U.S.  That’s a lot of money.  As a merchant, it obviously makes sense to add “plastic” to your list of accepted payment options. Doing so allows you to tap into this multitrillion-dollar pie.However, this volume includes many types of plastic, with credit cards generating the largest share at $3.7 trillion a year.
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Topics: Small Business Tips, Getting Started with Payments, Awareness, Consumer Education

Is RFID-Blocking Technology Legit?

Posted on Apr 11, 2019
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.
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Topics: PCI Compliance and Fraud Prevention, Consumer Education

Equifax vs. Experian vs. TransUnion

Posted on Mar 26, 2019
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.
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Topics: Awareness, Consumer Education

The Evolution of Your Credit Score

Posted on Mar 19, 2019
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?
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Topics: Small Business Tips, Awareness, Consumer Education

4 Tips for Paying off Debt

Posted on Mar 12, 2019
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.
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Topics: Small Business Tips, Awareness, Consumer Education

How Secure Are NFC Payments?

Posted on Feb 16, 2017
Short for “near field communication”, NFC allows devices in close proximity to wirelessly transfer data back and forth. The technology is very similar to Bluetooth, but NFC uses far less power and works over much shorter distances.
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Topics: Mobile Payments, Payment Technology, PCI Compliance and Fraud Prevention, Small Business Tips, Payment Trends, Consumer Education

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