BluePay Blog

Most credit cards in the U.S. still come with magnetic stripes on the back — reserved for “swipe-and-sign” transactions. However, magstripe cards are easy to clone, making them prone to fraud and abuse. Signatures offer little additional protection, which is why the major credit cards have recently dropped this verification requirement.  In recent years, the payment industry has encouraged customers and businesses to shift from magstripe technology in favor of:

Topics: EMV, Mobile Payments, Payment Technology, PCI Compliance and Fraud Prevention, Small Business Tips, Payment Trends

The United States leads the world in credit card fraud — by a huge margin. It represents roughly five percent of the global population and 27 percent of all credit and debit card volume.  However, the U.S. accounts for nearly half of all card-based fraud. It’s hard to truly appreciate the sheer scope of this problem, but by 2020 experts predict out-of-pocket losses for stateside merchants could approach $12 billion annually. 

Topics: EMV, PCI Compliance and Fraud Prevention

Three years ago this month, the credit card industry introduced new liability rules designed to reduce payment card fraud. In 2015, traditional plastic was still widely used throughout retail, but these older cards relied on magnetic stripes that could easily be cloned, manipulated or erased.  In effect, “magstripe” plastic was seen as too vulnerable. Thus, the payment industry wanted merchants and consumers to adopt EMV credit card processing.

Topics: EMV, Payment Technology, PCI Compliance and Fraud Prevention

With nearly 20 percent market share, Fitbit is arguably the most popular wearable technology in the world. These personal fitness trackers can monitor everything from your heart rate to steps taken to sleep patterns. With more than 25 million active users, Fitbit continues to rake in billions of dollars every year — all through sales of its wearable devices.  But the company believes its Fitbit can become more than just a fitness tracker. In 2018, it added mobile payments to its growing line of wearable tech.

Topics: EMV, Payment Technology, Small Business Tips, Payment Trends

Over the last few years, chip-and-PIN has been heralded as the gold standard in payment security. These EMV credit cards come with embedded chips that are next to impossible to clone. To initiate an in-store payment, customers must input a personal identification number (PIN) that only they know.  Additionally, mobile payments and wearable technologies continue to grow in popularity every year. In fact, experts predict that annual in-store sales generated through smart devices could exceed $500 billion by 2020 — in the United States alone. 

Topics: EMV, Mobile Payments, Payment Technology, PCI Compliance and Fraud Prevention, Payment Trends

Losing your credit card usually isn’t a big deal. If one of your cards is lost, stolen or somehow compromised, your bank will send you a replacement ASAP.  Many card issuers also provide fraud protection so you’re not personally liable for any unauthorized purchases.  In fact, the algorithms used to monitor fraud are so good that your bank might contact you to verify purchases that “seem” out of character. If you use your card primarily for grocery shopping and gas stations, for example, a sudden weekend shopping spree at the neighborhood electronics store might raise red flags. 

Topics: EMV, PCI Compliance and Fraud Prevention, Fun Posts

In the retail world, chargebacks are very similar to refunds in that:  Successful sales are ultimately reversed.  “Unhappy” customers get their money back.  Though unlike refunds, chargebacks aren’t something you implement on your end as a merchant.  Instead, they’re initiated by the customer — with or without your consent.  Thanks to consumer protection laws, starting the chargeback process is very easy for customers.

Topics: EMV, PCI Compliance and Fraud Prevention, Small Business Tips, Enterprise Business Tips

Swipe-and-sign is one of the most time-honored rituals in retail. When customers are ready to make purchases, they:  Swipe the credit card in a POS reader Receive a printed time-stamped receipt Put their John Hancock on the signature line  On April 13, most major credit card brands will remove the signature requirement at the point of sale. Mastercard and Visa are phasing out this step across North America, while American Express is eliminating the signature requirement worldwide.

Topics: EMV, Payment Trends

Whenever customers are unhappy with products or services, they can request a refund directly from you — the merchant.  This is usually an unpleasant experience, and retailers often go out of their way to avoid issuing refunds. The alternative, however, is much worse.  These dissatisfied customers also have the option of disputing purchases and initiating chargebacks through their banks. The banks then credit those users’ accounts before chasing you down for the outstanding balance. 

Topics: EMV, E-Commerce and Online Payments, PCI Compliance and Fraud Prevention, Small Business Tips, Enterprise Business Tips, Getting Started with Payments

Set to go into effect in May, the General Data Protection Regulation (GDPR) is a new set of guidelines designed to safeguard how personal consumer information is captured, shared and stored by organizations throughout Europe. More specifically, the GDPR exists to:  “(H)armonize data privacy laws across Europe, to protect and empower all EU citizens data  privacy and to reshape the way organizations across the region approach data privacy.” 

Topics: EMV, PCI Compliance and Fraud Prevention