Andrea Herrera

PayPal and Authorize.net make great choices for payment processing for small businesses. Both are popular and easy to integrate with other applications. However, PayPal offers more in-person and international sales capabilities, while Authorize.net provides more stability and Level 2 and 3 processing for business-to-business (B2B) transactions. In our evaluation of online payment processors, we found…

The digital payments market refers to the ecosystem where transactions are conducted electronically, eliminating the need for physical currency or cards. It includes various forms of electronic payments, including mobile wallets, account-to-account (A2A) or peer-to-peer (P2P) transfers, contactless payments, Buy Now, Pay Later options, and cryptocurrency. This market has experienced exponential growth in recent years,…

Return fraud, also called refund fraud or refund theft, is the deceptive practice of returning merchandise or abusing a return/refund process for monetary gain. In 2023, retail return fraud cost up to $101 billion in total losses, and every $100 of returned merchandise resulted in a loss of around $13.70 for retailers. Businesses need to…

NFC payments are contactless payments that use near-field communication (NFC) technology to exchange data between readers and payment devices—like Apple Pay and Google Pay e-wallets in smartphones and wearables or tap-to-pay credit and debit cards. NFC payments (often called “tap-to-pay” or simply “tap” transactions) are widely used because they are contactless, encrypted, and highly secure….

Embedded payments are a convenient way for businesses to accept payments directly within their websites or apps—without having to deal with different providers—while simplifying the checkout process for customers. Understanding the dynamics and intricacies of embedded payments is important for small businesses that want to streamline transactions, improve customer satisfaction, increase operational efficiency, and drive…

Any business owner who takes card payments for the first time will encounter a situation where the transaction needs to be voided. This means reversing the transaction—as if there was no transaction at all. Understanding and managing void transactions is essential for businesses to maintain financial accuracy and operational efficiency. What Is a Void Transaction?…

Ever considered going inside a store, picking up items you want, and then just walking out? The revolutionary Just Walk Out (JWO) technology, developed by Amazon and used in some stores in the US, UK, and Australia, works exactly like that. With the help of cameras, shelf sensors, deep learning, and generative artificial intelligence (AI),…

Fake checks are fraudulent or counterfeit versions of legitimate checks, created with the intent to deceive individuals or businesses. These checks may look authentic but lack sufficient funds, are entirely fabricated, or are tampered with. To avoid potential financial and operational loss, a business must learn how to spot a fake check by being familiar…

The question of whether it is illegal to not accept cash is a relevant and important question for many small businesses. The short answer is—it depends on where you are located. There is no federal law that requires businesses to accept cash, but there are some states that have laws in place that prohibit businesses…

Businesses are increasingly opting for cashless transactions as they seek to streamline operations, increase efficiency, enhance security, and cater to consumer preferences. The transition from traditional cash-based transactions to digital payment methods has accelerated, particularly in the wake of the COVID-19 pandemic when contactless payments had become a preferred way to pay. The Rise of…

Biometric payment involves using unique physical or behavioral attributes, like fingerprints or facial recognition, to authenticate transactions securely. There has been increased adoption of biometric payment in recent years because it is generally considered more secure than password- or PIN-based systems. Biometric payment may be used for in-person and online transactions. According to a recent…

Plaid is a financial technology company that acts as an intermediary between financial institutions and third-party applications. Using Plaid makes it easy for users to quickly and safely connect their bank accounts with apps, helping them manage money and make transactions effortlessly without providing the apps with their bank login information. While users may sign…