Credit cards have become a convenient, and easy way to pay or be paid. But along with that convenience can come a price. What price is that, and how can CardConnect help?
Recently, we had the opportunity to interview Ed Burris of CardConnect.
In today’s age, it seems that most people are turning to credit cards as a means of paying for items. Along with this demand for credit cards also comes the need to be able to process them. That is what CardConnect has built its business around. However, what makes CardConnect stand out as superior, and different from other card processing companies?
Ed said it best when he said:
“CardConnect is a tier 1 credit card processor, from the beginning of the transaction to the end of the transaction, to the funding of the transaction, they do all of that. Cardconnect is responsible for their encryption, building their system, and putting it all together while managing it all themselves without 3rd parties.”
Every company seems to want to become that “one-stop-shop”, and that is what Cardconnect worked hard to accomplish. They do everything in the digital payment world. Not only do they take care of you every step of the way, but with their secure encryption, and the fact they don’t use 3rd parties, you can feel safe and secure with your earned money.
In the last few years though, things have been changing for people around the world. When it comes to credit cards, there are more risks than ever before.
At the 3:58 mark, Ed said:
“In 2018, 53% of all the data breaches were from small, or mid-sized businesses. On average it took about 12 months to detect these breaches… It’s no longer just some kid in the basement of grandma’s that’s trying to hack something, it’s organized crime at the cyber level.”
It’s not just the people using credit cards that are at risk, but also businesses who need to accept credit cards as a means of payment.
Cards aren’t automatic cash.
Luckily for stores, and shops though, there are opportunities for these businesses to protect themselves. We can think of Pre-authorization. Although this doesn’t charge the credit card holder upfront for the entire purchase, it puts the payment as pending on their account, just to let them know that that money is there ready to be captured.
Whether you’re a business owner or a shop employee, there are other means of payment that come with some risks as well. Whether it’s counterfeit money or checks from unknown people that are not very reliable or trustworthy.
When it comes down to it, don’t trust things that are said, trust things that are resourced. Do the research, it can save you money in the long run.
To learn more, go to CardConnect.
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