payment industry news
Follow the blog for all of your payment industry news. We talk about FinTech, Credit Card Processing, High-Risk Merchants, and much more. Allen Kopleman has been providing merchant accounts for small business for over 20 years. Nationwide Payment Systems provides merchant account services to local businesses in South Florida.
What Payment Methods Raise the Most Money at a Fundraising Event?
No single payment method raises the most money at a fundraising event. What raises the most is a setup with no dead ends: every guest can give the moment they decide to, with whatever they have in their hand, in a few...
What Financial Records Do I Need to Keep, and for How Long?
Most small businesses need to keep the records that support their tax returns for at least three years after filing, keep employment tax records for at least four, and keep some records much longer: up to six or seven years...
Nightclub POS Systems: What They Are and How They Work
A nightclub POS system is the point of sale built for how a club actually runs: open tabs secured by a card, several bartenders working the same tabs from different stations, drink pricing that changes by the hour, VIP and...
How to Open a Business Bank Account With No Revenue History
You can open a business bank account with no revenue history, because a basic business checking account is not a loan and the bank is not judging your sales. What the bank needs is proof of who you are, proof that the...
How to Handle Sales Tax Collection in Multiple States Without a Tax Team
You can handle sales tax in several states without a tax department if you build one simple system and run it every month: know where you owe, register before you collect, let your checkout calculate the rate, park the tax...
When Does It Make Sense to Incorporate Instead of Staying a Sole Proprietor?
It usually makes sense to incorporate, or to form an LLC, once your business has something real to lose: customers who could sue, a lease or loans you sign for, employees, a partner, or profits large enough that your...
What Does a Merchant Actually Receive When a Customer Pays in Bitcoin?
In most business setups, the merchant receives U.S. dollars. The customer sends Bitcoin, a crypto payment processor converts it, and dollars are deposited in the business bank account, so the shop never holds a single coin....
What P2PE Validation Actually Certifies, and What It Leaves Uncovered
P2PE validation certifies one thing: that a specific card-encryption solution, built from listed devices, key-management processes and a protected decryption environment, was assessed against the PCI point-to-point...
What Makes Someone Eligible for a Merchant Account?
You are eligible for a merchant account when an acquiring bank, working through a processor, is comfortable with three things: who you are, what you sell and how the money will move. Most legal businesses in the United...
What Is E-Commerce Payment Processing for a Home-Based Small Business?
E-commerce payment processing is the system that lets a business take card and bank payments online and move that money into its bank account, and for a home-based small business it works exactly the same as it does for a...
Card-Testing Attacks on Donation Forms: Why Nonprofits Get Targeted and Where the Exposure Sits
Card-testing attacks hit nonprofit donation forms more than most checkouts because a donation form is built to be open, fast and friendly, and those same qualities make it an ideal place for a bot to check whether stolen...
In What Order Should a New Business Set Up Its Financial Infrastructure?
Set up a new business's money in the order each step depends on the last: first the legal entity and its registrations, then the tax ID, then a business bank account in the exact legal name, then your bookkeeping, and only...