If you’re a small business owner, you likely know a thing or two about chargebacks, and those things are probably not all that pleasant. Not only do these customer requests to reverse transaction charges present bookkeeping challenges, but reports show that about 86 percent of chargebacks are fraudulent.
As a merchant, one of the first decisions you must make when starting your business is whether or not you will accept credit cards as a form of payment. Many experts will argue that the benefits of credit card acceptance far outweigh any disadvantages, but there are some. Credit cards are so entrenched in the American culture that it almost seems the biggest disadvantage would be not to accept them! Below are some of the pros and cons of accepting credit cards that will help you decide if credit card acceptance is right for your business. First the pros:
Near Field Communication, or NFC, is a wireless communication interface that connects phones to POS (point of sale) and mPOS (mobile point of sale) devices through close proximity, but how can this benefit your business? You may not know it, but NFC is actually enabled in the majority of current smartphones. It is not only compatible with all Android and Samsung devices, but in iPhone 6 and 6 plus as well. In today’s blog, we’ll take a look at the benefits that companies like Starbucks and Apple have already been receiving through using NFC payment transactions.
Mobile payments have become big news over the last few years, especially since Apple released the iPhone 6 with Apple Pay in 2014, as the first major mobile phone manufacturer to have an integrated mobile payment system. Since Apple Pay came on the market, Android Pay and Samsung Pay have joined the party, and there is talk that handset manufacturer LG is developing its own NFC payment system.
It’s here! PayAnywhere 4.0 for Android tablets and PayAnywhere Storefront is available now. If you have PayAnywhere Storefront, the update has been pushed to your machine already. If you use PayAnywhere on a tablet, you can get the update in Google Play.