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At CardFellow, we work with processors that serve high risk businesses and have pulled together some rough numbers to give you an idea of whether you’re overpaying. for an established business in a “less risky” high-risk category. for an established business in a “less risky” high-risk category. When is a rate “too high?”
In this blog post, well help you understand the factors and features you need to consider to find the right payment gateway to suit your unique business needs. Consider support for high-risk industries if applicable. Also, some businesses in industries like cryptocurrency, gaming, gambling, and travel are considered high risk.
As mentioned in the section above, if you take a dispute to the arbitration stage, you risk paying in the neighborhood of $400 in various fees to the card brand. We spoke with Chargebacks911 , a risk mitigation firm that helps online merchants optimize profitability through chargeback management. This fee can range from $15 — 40.
In this blog, you’ll find a clear comparison of both solutions and a step-by-step approach to help you choose the right one for your business model. Security, compliance, and transparency Without strong security, you risk user trust. They sound similar, but they serve different purposes. Make sure your wallet follows KYC and AML rules.
In this blog, well unpack what scalability really looks like in a payment solution and how to choose one that wont hold you backwhether you’re just beginning to start accepting payments or scaling to new markets. Prevents system migration headaches If your provider cant support your long-term goals, you risk painful migrations later.
. “Today we’re launching Plaid Protect: a real-time fraud intelligence system that helps detect and prevent fraud from the moment a user first interacts with your app or service,” Plaid Head of Fraud Alain Meier wrote on the company blog.
Enhanced securitytokenization and two-factor authentication reduces the risk of data breaches As we mentioned earlier, Click to Pay uses a data security approach called tokenization to protect sensitive financial data from malevolent actors. Security risks due to sensitive card details stored on merchant servers.
In this blog, we’ll explore how to approach credit card processing like an opportunity instead of just another expense. These vary based on card type, transaction volume, and risk level. When leveraged strategically, these services can become a key driver of business growth.
Set up automated alerts or subscribe to your gateway’s changelog or dev blog to stay informed about upcoming changes. These features assure secure transactions, reduce the risk of chargebacks and protect customer’s payment information. You may miss out on performance or usability improvements (e.g.,
A monthly cadence of content, for instance – one blog post, one LinkedIn update, one timely media comment – can be more effective than a sporadic splash. A single webinar can become a blog, a social post, a customer email, and a media pitch. Repurposing content is also a smart move.
Be careful if you come across processors that are not PCI compliant, as it increases your risk of security issues. appeared first on CardFellow Credit Card Processing Blog. They should be, but newer or smaller processors may not have validated their compliance. The post What is a Level 1 PCI Compliant Processor?
In this blog, we’ll explore the benefits of mobile payment solutions and what types of mobile payment systems are currently available on the market. Contactless payments using Near Field Communication (NFC) employ tactics such as secure encryption and fingerprint authentication to initiate transactions, which minimizes the risk of fraud.
The Benefits of Going Cashless There are several significant benefits to moving to a cashless payment model, including faster service, easier financial reconciliation, reduced risk of theft, and appeal to customers who don’t carry cash. Services like MinFraud and Kount can help you reduce the risk of fraudulent transactions.
Despi͏te͏ this, the re͏liance o͏n auto͏m͏ated decision-making introduces th͏e risk of unintentionally per͏petua͏ting e͏xisting s͏o͏cial […] The post Bias Detection in Automated Loan Processing: Ensuring Fair Lending Practices appeared first on Finezza Blog.
You may want to consider not restricting virtual cards unless it causes extra risk or creates a challenge to ensuring its an authorized transaction. Many processing companies offer filters that flag transactions for manual review vs. outright declining, which is another possible option for balancing your risk.
The Non-Qualified category has a higher rate to offset the risk of the transaction. This primarily affects non-secure online transactions and high-risk businesses. Due to the higher risk associated with those transactions, they are not eligible for lower-cost interchange categories. Give it a try at www.cardfellow.com.
If you exceed that, you run the risk of having your merchant account frozen or closed without warning. Your customers will want to see their refund as soon as possible, and it will help you avoid the risk of the customer escalating it to a chargeback. Process refunds immediately when you do grant them.
Services like tap-to-pay have become essential for delivering a seamless retail experience, and PSPs that fail to provide these solutions risk falling behind in an increasingly competitive market.
Not all outages will be in your control, but it’s a good idea to minimize the risks whenever possible. The post Payment Outages – What You Can Do appeared first on CardFellow Credit Card Processing Blog. If any one of these companies or services has an issue, it will impact your ability to take cards.
Not all processors use the same risk determinations, so just because one company quotes high doesn’t mean another will. The post Misconceptions in Credit Card Processing appeared first on CardFellow Credit Card Processing Blog.
Others will be offered as part of our focused tracks examining topics in payments, customer experience, AI, lending, and banking risk and regulation. Some of the presentations we’re highlighting today will be on the mainstage at FinovateEurope. Our slate of speakers for FinovateEurope is growing by the day.
In this blog, well walk you through what ISV payment integration is, why it matters, and how to do it rightso you can turn your platform into a powerful growth engine for both you and your customers. Not to mention the high risk of human error, and wastage of time and resources. The best part?
Liquidated damages are a big risk for any business. But it’s not without risks. The post Beware of these Merchant Services Contract Clauses appeared first on CardFellow Credit Card Processing Blog. If you normally pay $300/month in processing fees and have 16 months left on your contract, you could owe $4,800! Always required.)
Such gateways present a more risk-averse way for you to accept cryptocurrency payments. The software will send upcoming payment alerts to each customer, reducing the risk of late payments, which will only help your cash flow.
This blog explores the challenges in supply chain financing and how M2Ps Credit Stack is addressing them to empower businesses. Challenges in Supply Chain Financing Manual processes slow down operations and heighten the risk of errors. Despite its potential, traditional SCF processes are complex and cumbersome.
A monthly cadence of content, for instance – one blog post, one LinkedIn update, one timely media comment – can be more effective than a sporadic splash. A single webinar can become a blog, a social post, a customer email and a media pitch. Repurposing content is also a smart move.
PCI compliance is critical, as it reduces your risk of data breaches (and can help limit your liability in the event of a breach) and helps minimize avoidable fees from your credit card processor. Regular Risk Reviews In the past, you only needed to perform risk reviews as part of an annual review. Achieving (and maintaining!)
In this blog I share some insights on how we at AdviceRobo do this so you can learn from it and build your own infrastructure of trust with AI. Rethinking risk in the age of AI Traditional credit systems have failed billions of people globally—those without formal income, credit history, or access to mainstream banking.
by 2033 and in this blog, we are detailing what is setting the stage for it. Data Analytics: Making Informed Decisions Data is now the lifeblood of modern loan management, empowering lenders with insights to assess creditworthiness, predict risk, and personalize loan terms. AI, ML, and blockchain enhance risk assessment and security.
Lastly, NFC itself is already low risk, as the transmission between devices can only occur over very short distances (usually inches or less). The post The Rise of Contactless Payments and Tap on Phone appeared first on CardFellow Credit Card Processing Blog. That minimizes the chances of data interception.
Some processors are less risk-averse and may not have the same concerns that lead to account freezes PayPal implements. appeared first on CardFellow Credit Card Processing Blog. Lastly, some users complain that PayPal customer support is difficult to reach or non-existent. The post Has Your Business Outgrown PayPal?
. “Financial institutions falling short of DORA’s standards face serious regulatory risks, including administrative fines, business restrictions, or even losing operating licenses,” CyberUpgrade General Counsel Nojus Bendoraitis wrote on the company’s blog.
They shy away from get-rich-quick schemes and high-risk investments, instead leaning toward assets like pensions and property that promise long-term growth. They expect an easy fintech experiences but still value expert-led financial education through blogs, reports and advisory-driven apps. Trust is paramount!
. “This achievement marks the culmination of a rigorous pre-registration undertaking (PRU) process, during which Kraken consistently enhanced its governance, security, and compliance protocols to meet the highest industry standards,” the Kraken blog stated this week.
PCI standards are designed to increase security and minimize risk of things like data breaches. The post Help with PCI Self-Assessment Questionnaire appeared first on CardFellow Credit Card Processing Blog. In most cases, you arent required to use a QSA, but they can provide expert guidance if you find it necessary. Try it today!
High-Risk Industries On their own, businesses in high-risk industries wont automatically lose a merchant account. However, high-risk businesses that dont disclose that theyre in a high-risk industry, or try to mask it as a lower risk business, face account closure without warning.
Some businesses and consumers may not be comfortable with the heightened risk (or perceived heightened risk) of real-time settlement. The post FedNow and Credit Card Processing appeared first on CardFellow Credit Card Processing Blog.
Banking and Credit Risk: Ramps card is a charge card (balance due monthly) typically with a credit limit based on the businesss finances. This means Ramp doesnt carry the credit risk on its own balance sheet for the most part, but it still needs to closely manage risk of fraud or non-payment. The current U.S.
We will share our event reviews, including key moments and top takeaways, on the Finovate blog in the days to come. Risk management Risk and business intelligence solutions provider SRA Watchtower raises $4 million in funding in a round led by FINTOP Capital, JAM FINTOP, and EJF Capital. Crypto / DeFi London-based Netmind.AI
Earlier this year, I mentioned agentic AI in a 2026 predictions blog. I’m frankly therefore making up my mind if Im part of the early stage of a "game changing" zeitgeist or merely an echo chamber for shiny suits. Since then, the noise has only grown louder. The analysts tend to love it. But video didnt quite kill the radio star.
The financial compliance landscape is complex and requires a perfect balance between regulatory requirements, reporting, risk management protocols, and efficient transaction tracking systems to combat financial crimes.
There are also free training courses and a QuickBooks blog. Since your data is stored on secure servers managed by Intuit, it is continuously backed up, reducing the risk of data loss due to hardware failures. Phone Support Phone support is available Monday through Friday between 6am to 6pm.
This highlights the inherent risks lenders face. Therefore, financial institutions (FIs) need robust credit risk management to minimise risk and boost returns and productivity. An early warning system can […] The post Proactive Credit Risk Management: Developing an Early Warning System appeared first on Finezza Blog.
Welcome to our comprehensive guide on ‘Conducting an ISO 27001 Risk Assessment’. This blog is designed to equip you with effective strategies for a successful risk assessment, incorporating the principles of ISO 31000 risk management. Let’s enhance your risk assessment!
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