Credit card processing fees are a silent profit killer, especially in high-volume industries like trucking. But an increasing number of savvy trucking companies are taking back control by choosing to add a surcharging program. And if you’re using CDK Global’s software, you may already have everything you need to do the same. What Is Surcharging? Surcharging is the practice of…
By 2026, card fraud losses are expected to reach $26 billion worldwide. In recent years, one of the most effective avenues of attack has been a practice called carding, which can wreak havoc on your business quickly and quietly. Carding involves using stolen credit card details to exploit payment systems, usually by purchasing gift cards or attempting small online transactions.…
In today’s fast-paced and competitive market, payment analytics is one of the best ways to get a leg up on your competition. That’s because payment analytics metrics allow you to see your financial performance and customer spending patterns in real time. With this information, it’s much easier to make data-driven decisions that optimize cash flow. Of course, implementing this technology…
Does your business accept credit card payments? If so, it will benefit from tokenization. In its simpler form, this security technique has been around since the rise of online shopping in the mid-90s. In 2014, we saw the emergence of modern network tokenization, with card networks starting to issue tokens to protect sensitive data and reduce the risk of data…
Today’s commerce market is so fast-paced that chargebacks are all but unavoidable. This also means that they have a significant influence on your brand credibility, operational efficiency, and financial stability. If you want your business to thrive in such a competitive landscape, the best thing you can do is develop a solid chargeback management strategy. Not quite sure what this…
As a consumer, credit card transactions seem deceivingly simple. You swipe the card or click the pay button, and a few seconds later, you get an order confirmation. What goes on behind the curtain, however, is quite a bit more complex. Read on to learn more about the key participants in credit card transactions and each stage of this process.…
The global pandemic impacted merchants in both positive and negative ways. On the one hand, online shopping saw drastic growth throughout the pandemic, a trend that continues even today. On the other hand, the world of online payment fraud evolved rapidly as well. As a result, more merchants now use advanced anti-fraud measures such as temporary holds. Not sure how…
Visa and Mastercard are two of the most popular card networks in the world. In the U.S. alone, they make up over 80% of credit cards in circulation. Given that they also offer very similar capabilities, some people joke that the only difference between them is the logo. However, this isn’t quite true, particularly when it comes to their features.…
With the payments industry constantly in flux, many businesses keep having to update their payment processing strategies. The latest major change occurred in 2020, when the pandemic led to the rise of digital and contactless payment models. Within two years, the number of online banking users worldwide jumped to over 2 billion and continues to rise. The Request for Payment…
According to the American Transportation Research Institute, traffic congestion cost the U.S. trucking industry a record-high $108.8 billion in 2022. If you’re wondering, this is equivalent to 435,686 truck drivers (or 22% of all Class-A licensed drivers) being idle for a whole year. The average cost per every registered combination truck comes out to $7,588. Interestingly, the total hours of…