Winter 2014 Event Schedule

TrustCommerce is out and about this winter! Don’t miss an opportunity to meet with us in-person. NRF – Retail’s BIG Show 2014 January 12-15, 2014 New York City   Healthcare Payments Innovations January 27-28, 2014 Tempe, AZ   GE Western Region User’s Group February 13-14, 2014 Green Valley Ranch, Henderson, NV   Parking Industry Exhibition…

Make Payment Security a Daily Priority

Merchant who store, process or transmit cardholder data, must be compliant with the PCI Data Security Standard. More often than not, PCI DSS Compliance is a starting point for protecting payments, not an achievement that can be crossed off a check list.

Headlines remind us of the ongoing risk of data compromise. A franchising company is the latest example. According to the company’s press release, an internal forensic investigation, launched after fraudulent activity was found on several payment cards that had been used at the company’s locations, identified suspicious files, including malware, on the licensees’ computer systems at 108 locations in 10 states. The franchising company is concerned that the suspicious files could indicate that an attacker(s) may have accessed data, including credit and debit card information. It is yet to be determined whether credit or debit card data was exposed.

To help you better understand how TrustCommerce’s security products could have helped prevent this “malware” attack, here are some key points.

Developer Friendly Payment Solutions

TrustCommerce and E-Commerce Developers are a perfect match. We speak the same language, can finish each other’s sentences, and are just a phone call away. Our relationship is effortless because:

TrustCommerce payment solutions are developer friendly! Our solutions are designed for easy set up and flexibility—integrating into any solution. We accomplish this using open-source technology and our 19+ APIs. Once integrated with the TrustCommerce payment system, you can implement the solution to any number of merchants.

Save Money on Payment Processing

Wouldn’t it be nice if payment processing came with a textbook for beginners? Unfortunately, many times merchants are on their own to master key terms and skillfully implement best practices that help manage costs. One of the biggest challenges can be understanding the interchanges rates set by the card networks and other fees incurred in order to accept credit card and other payments.

Healthcare Payment Trend: Patient-Initiated Payments

With patients bearing more of the responsibility for healthcare payments, healthcare organizations are looking for ways to make it easier for patients to pay, thereby improving collections and decreasing the time and resources it takes to collect payments.

Healthcare payments landscape

More than $2.7 trillion of healthcare payments are made in the U.S. annually, which represents one sixth of the U.S. gross domestic product (GDP). Direct patient-to-provider payments represent $326 billion.1  According to a McKinsey & Co. report, about 35 percent of a provider’s total revenue will come from patients.

Prevent Data Thieves from Stealing Payment Data

As 2012 approaches, and companies continue to pursue compliance with the PCI DSS, the threat of data theft still looms large for merchants. On December 12, 2011, CNN, and other news organizations, ran a story announcing that US authorities arrested four Romanian Nationals in connection with a data theft scheme that had been active since 2008. The four individuals would hack into Point of Sale (POS) systems and install Trojans and key-stroke loggers to capture payment card data. This data was then used to make fraudulent purchases, primarily in Europe. 150 Subway restaurants, as well as over 50 other retailers, were victimized and an estimated 80,000 cards were compromised.

5 Tips to Reduce Holiday Shopping Fraud

As consumers, it is easy to get caught up in the excitement of the holiday season and drop our guard when it comes to safe shopping. The increasing balances on credit cards often result in people not checking their statements until after the holiday season.  In a rush to make purchases, caution may take a back seat to convenience and the prevalence of goodwill may convince some shoppers that criminals wouldn’t take advantage of the holiday season. Unfortunately, the holiday season is when criminals are often most active.

Weighing in on Mobile Payments

I am an information junkie. I sign up for a multitude of e-newsletters. I set up Google Alerts for topics that are important to me, watch Twitter trends and follow thought leaders on social media. Each morning, I sift through the information to find the day’s gold nugget. Here’s what I learned from my inbox this morning:

  • 57% of U.S retailers are preparing or already have a mobile commerce strategy.*
  • Mobile commerce will generate $6 billion in sales this year and is expected to double in 2012.
  • “Life is luck, make it.” –Mother Teresa

Mobile commerce is here to stay. As you develop your strategy, I offer food for thought:

A Merchant’s Best Friend: E2EE & Tokenization

It’s the start of a New Year and, naturally, businesses begin prioritizing projects.  “What can we accomplish this year? What projects can we take on that will deliver the most bang for the buck.” Each division jockeys for position and vies for scarce time and resources.

The single most important business decision merchants can make this year centers on data security. All the hard work your teams put in every day is rendered useless in the event of a data breach. Progress stops and all attention shifts toward survival.

Non-Profit’s Unique Payment Processing Needs

At the NACHA Mega Meeting, September 29-30, we listened to an esteemed trio of panelists, American Red Cross, Faith Direct, and Star of Hope; discuss nonprofit payment processing. During an economic period where overall charitable contributions are down, payment simplification is paramount for non-profits.  Americans gave more than $307 billion in charitable donations despite the economic conditions in 2009. However, total giving, when adjusted for inflation, was down 3.6 percent. This was the steepest decline since the Giving USA annual reports began in 1956.