BluePay Blog

Consumers are savvier. Criminals are craftier. Now, companies have to ramp up their own capabilities to meet the higher expectations and strategies impacting their business results. Technology is helping companies deliver a trustworthy transaction process as part of an exceptional experience for consumers. At the same time, they are using these tools to stop criminals. This is due in large part to the advancement of the smart payment platform. Here’s what the smart payment platform looks like.

Topics: Due.com Partner Posts, E-Commerce and Online Payments, Payment Technology, PCI Compliance and Fraud Prevention, Payment Trends

In the United States, we hear about credit card fraud all the time — usually presented as horrifying statistics. For example: Fraudulent losses from online credit card transactions now exceed $6.4 billion annually. Retailers lose an estimated $16 billion from chargeback (or “friendly”) fraud globally. Ultimately, these are just numbers. It sometimes helps to put faces to these statistics to truly understand the scope of this growing problem.

Topics: PCI Compliance and Fraud Prevention, Consumer Education

Depending on whom you ask, anywhere from 50 percent to 90 percent of new businesses fail within their first few years.  The exact reasons why vary from startup to startup.  Below are six of the biggest money mistakes entrepreneurs make when trying to get their new businesses off the ground.  Avoid these pitfalls, and you could dramatically increase your chances of long-term success.

Topics: PCI Compliance and Fraud Prevention, Small Business Tips, Getting Started with Payments

The Payment Card Industry Data Security Standard (PCI DSS) is a broad set of guidelines that govern how organizations should handle credit or debit card information.  It doesn’t matter how large your organization is — or whether it’s a for-profit business or charitable foundation. If you store, transmit, or process payment card data of any kind, you must become (and remain) PCI-compliant. 

Topics: PCI Compliance and Fraud Prevention, Small Business Tips, Getting Started with Payments

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

Payment security is an ongoing concern for those who make payments in-person, online, and through their mobile devices. But, it becomes an even greater worry for the businesses that accept payments and become liable for any security breaches or fraud. According to a report by the Identity Theft Resource Center, although the number of U.S. data breach decreased 23 percent from 2017 to 2018, the number of exposed records increased 126 percent year over year.

Topics: Due.com Partner Posts, PCI Compliance and Fraud Prevention

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

Valentine’s Day may not receive as much fanfare as other shopping holidays like Black Friday. Though according to the National Retail Federation, this annual celebration (on Feb. 14) brings in nearly $20 billion for retailers and restaurants across the country.

Topics: Mobile Payments, E-Commerce and Online Payments, PCI Compliance and Fraud Prevention, Fun Posts, Payment Trends

The global impact of fraud is enormous, with merchants and banks losing over $21 billion annually.  That’s just from debit and credit card abuse.  You also have to factor in malware, data breaches and identity theft — all of which take a huge financial toll on society:  In 2017, the U.S. reported 16.7 million victims of identity theft (resulting in $17 billion in losses).  According to the Center for Strategic and International Studies (CSIS) and McAfee, cybercrime is a $445 billion industry worldwide. 

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

Every organization that captures, processes, stores, transmits, or affects credit card data is expected to comply with the security guidelines established by the Payment Card Industry (PCI).  These data security rules apply to multinationals, small shops and nonprofits alike. Failure to become PCI-compliant can lead to hefty fines for that organization.  Equally important, these guidelines continue to evolve over time as criminals develop newer and smarter data breaching techniques.

Topics: Software and Payment Integration, EMV, E-Commerce and Online Payments, PCI Compliance and Fraud Prevention