Merchant Resources

When you think about credit card crime, big companies like Target and Equifax probably come to mind. As a small restaurateur, the potential that your business could be the next victim may be less than a blip on your radar. Sadly, eateries are extremely vulnerable to fraud and data breaches, and it is in your best interest to learn how to minimize the chances that you will be harmed.

Knowing that you want to accept credit, debit card, and even contactless payments is just the first step towards offering your customers as many convenient payment options as possible. Your bigger challenge is coming to an understanding of how payments work, the types of hardware available, and the best way to obtain it.

So, you’ve finally bitten the bullet and decided to accept credit cards in your small business. Before you become overwhelmed by the sheer scope of the choices and options available to you, it would behoove you to take a few minutes to learn some payments terminology.

Today’s quick-service restaurant customers want delicious food fast and they want their experience to be excellent at the same time. So how do restaurateurs meet the demands of these customers? As so often happens, technology is coming to the rescue in the form of something known as self-checkout.

If you’re like most entrepreneurs, you make a valiant effort to juggle numerous responsibilities. No matter how great you are at multitasking, there are some tasks that are best delegated to others. By taking this step, you can actually spend more of your financial resources on growing your business while simultaneously freeing up valuable time.

Credit card transactions, particularly those that take place over the internet, have long been vulnerable to hacking by criminals and fraudsters. Today’s EMV chip cards have made strides in deterring fraud, but data breaches are still occurring at an alarming frequency.

Often known as “millennials”, the generation born between roughly 1980 and 1998 are now coming into their own. Millennials are completing their education, finding careers, and making money. As they take their place in the front ranks of U.S. consumers, it is important to recognize the effects that mobile payments are having (and not having) on this important demographic.

Competition in the restaurant business can be cutthroat. At a time when every penny of profit counts, you might be tempted to become a cash-only operation to avoid credit card fees. Before you take this drastic step, you need to know the possible consequences.

Entrepreneurs are virtually hard-wired to worry about the solvency of their own businesses, but how often does it enter your mind that your bank might go under because it cannot meet its obligations? When that happens, it can rock the very foundations of your little company.

Try to imagine what life would be like without your smartphone. Unless you are in the ever-shrinking minority of Americans who choose not to use one, you have come to rely on your iPhone or Android for talking, texting, traveling, banking, gaming, and buying products.

For the most part, consumers understand and accept the risks that come when they provide businesses with their data. The majority recognize that this sharing of personal information enables companies to tailor the customer experience. As long as it makes life a little easier and more fun with targeted song choices, weather forecasts, and product recommendations, they will go along for the ride.

Technological innovations are attractive because they make our lives easier, help us connect with each other, and speed up tedious processes. Often, they also add a spark of fun and creativity.

Being as flexible and diverse as possible when it comes to payment processing​ is one sure way to attract and keep customers. After all, purchases are the lifeblood of your retail establishment. It might even be time to add accepting Bitcoin and other types of cryptocurrency payments into your business’s portfolio.

Identity theft and other types of credit card fraud are not just disturbing and disruptive to consumers, but they can also take a heavy financial toll on merchants and even jeopardize their solvency. If you own a business that accepts sales via a POS credit card reader, watch out for these signs of potential criminal behavior.