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Archive for the ‘payment processing’ Category

No More Cash in the UK?

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It’s official. The people across the pond don’t really pay with cash anymore. For the first time ever, more people paid with non-cash payments in 2014, according to the Payments Council . Figures published on May 21 show that the number of cash payments made by consumers, businesses and financial organizations in the UK fell [...]

Payment Tec: Restaurant Ordering and Tipping Apps

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You may think there’s not much space for mobile in the restaurant industry, but think again. These days, everything is going mobile—including a customer’s ability to order food and drinks, pay their tab, and tip.  Depending on your style of restaurant, at least one of these features could significantly benefit customer experience. Apps provide the [...]

How Can I Prepare for NFC Technology?

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Near Field Communication (NFC) technology is a way to wirelessly transfer information from compatible devices by simply placing them a few centimeters from each other. This new form of information transfer, popular in Asia and Europe, is quickly picking up in the United States. The benefits of NFC technology are great for the consumer and [...]

Where is the Payment Processing World Heading?

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As technology ever changes, and customers ebb and flow, so does the payment processing industry. Here are three notable trends happening right now. EMV Chip Technology. Six months from now, all credit cards will be EMV-chip activated. This means that payment technology is shifting. Now, instead of swiping a card, transactions will be conducted using [...]

How Does NFC Work?

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Here at PayProTec, we think mobile payments technology has incredible potential for the merchant and consumer. But as sleek as systems like Google Wallet and Apple Pay are, they would be worthless without the underlying technology that makes them tick. Near field communication (NFC) is a technology that allows the wireless sharing of small batches [...]

How Can I stay on Top of Industry Trends?

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Whether you’re a PayProTec professional or a merchant, it’s extremely important to stay on top of payments industry trends. But let’s be honest: Sometimes, the payments industry can seem dense and impenetrable. In part, it’s exactly because of its complicated nature that we need to be sure to keep up to date. If you work [...]

Why You Should Care About Payment History

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“Hmmm, I have a few free moments in my busy day. Maybe I’ll read through last month’s payment records and crunch some numbers!” …said no one ever. Most business owners have enough on their plates already. Who has time to analyze every transaction? You’ve got bigger and better things to do, right? Maybe not. Payment [...]

How Payment Processing Has Changed in 50 Years

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50 years ago, it was 1965. Just in those five decades, a lot changed in the realm of payment processing. Nothing was really happening in 1965. But things picked up in 1966. This was the year when 14 banks gathered in New York, forming the Interbank Card Association (ICA). This association of banks now had [...]

The History of Bankcard Processing

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Using credit has become second nature in today’s society. Simply swipe and confirm to make payments of any size. When did cashless purchases become so effortless? Let’s take a look at the history of bank cards to discover how they have become so prevalent in today’s fast-paced era of technology. 1887 – The first written [...]