A payment gateway is the technology that you need in order to enable online payments from customers. This serves as a link between financial institutions and the merchant. It also ensures data encryption and compliance with PCI DSS (Payment Card Industry Data Security Standard). That said, there are quite a lot of payment gateways to […]
Electronic Transfer Team
eCommerce Payment Trends: Early Predictions for 2025
Worldwide eCommerce sales are projected to reach $8.1 trillion by the end of 2026! Let that sink in for a moment. Part of this huge increase is due to the convenience of digital payments – customers don’t have to go to the store anymore to purchase whatever they want. They can do it by clicking […]
The Role of AI in Payment Processing
Traditional payment processing involves dealing with transactions between businesses and customers. This includes authentication, authorization, and payment settlements. Slowly, but surely, the traditional way of doing things is giving way to a new set of technologies. AI in payment processing has shown that it can greatly improve efficiency, enhance security, and take user experience to […]
How to Reduce Credit Card Processing Fees for Your Business?
Credit card processing fees are a serious expense for many businesses, especially those in retail, e-commerce, or the service industries. These fees, which can range from 1.5% to 3.5% per transaction, can quickly eat into your profit margins. This is why a good understanding and managing of these costs is crucial to maintaining a healthy […]
Your Guide to Handling Payment Disputes and Chargebacks
Navigating disputes and chargebacks is crucial for businesses, especially those in high risk industries. This article explains the transaction lifecycle, chargeback process, unique challenges faced by high risk businesses and how specialized processors like Electronic Transfer. Inc can help protect your business and revenue. Keep on reading. Transaction Lifecycle Understanding how transactions work is the […]
Cryptocurrency Payment Processing: Pros & Cons
As more people start using cryptocurrency instead of regular money, businesses need to understand it better. This is especially important for high risk businesses as they often face challenges with traditional payment methods, such as high fees and increased risk of fraud. By adding crypto they can benefit from faster transactions, lower fees, and enhanced […]
What Are NFC Mobile Payments, and How to Accept Them?
In the last few years, you’ve probably noticed people waving their phones, smartwatches, or smart rings instead of swiping or inserting traditional plastic cards. They’re part of the NFC club, a touch-and-go contactless payment technology that is gaining popularity worldwide and changing the way people pay. This article answers what NFC is, how it works, […]
PCI Security for Payment Processing: Requirements
Implementing PCI Security measures is not only a requirement for businesses that handle credit card transactions but also vital when building trust with customers and partners. By adhering to the rules, businesses can significantly reduce the risk of data breaches, comply with industry regulations, and demonstrate their commitment to safeguarding their customers’ financial information. What […]
Payments Industry Trends in 2024
In the fast-changing world of financial technology, the payments sector continues to be innovative in 2024. In this article, we will discuss the latest trends, simplify complex terms, and explore what is driving the payments industry forward. Keep reading. Current Payment Industry Trends Let’s look into the key trends shaping the payment landscape: 1. Streamlining […]
Online Payment Fraud: Tips for Prevention
The reliance on digital technology is growing, presenting vast opportunities for businesses. However, they are also increasingly exposed to payment fraud. As more transactions happen online, companies of all sizes are becoming more vulnerable to cybercrime which includes fraud, the theft of sensitive information, scams, identity theft, etc. In fact, payment fraud isn’t just a […]