Merchant best practices
When the Federal Reserve's new debit interchange fee regulations went into effect Oct. 1, many small retailers were left wondering how to effectively manage debit card acceptance costs. To address merchant concerns about the impact of the Durbin Amendment to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, Merchant Warehouse launched the Durbin Education Center, a web resource devoted to all facets of the legislation.
"Small businesses could be affected most by this regulation simply because they do not have the resources large retailers have dedicated to ensuring this amendment works in their favor," said Henry Helgeson, co-Chief Executive Officer of Merchant Warehouse. "Small businesses need someone knowledgeable to guide them through this process, and as a payment processor, Merchant Warehouse sees an opportunity to guide and consult these merchants."
In addition to explaining key points under the new regulations, Merchant Warehouse's resource guide describes best practices to assure revisions to interchange work in the merchants' favor, including the following steps:
- Barry Sloane, President and CEO, The Small Business Authority
National Cyber Security Awareness Month
In observance of National Cyber Security Awareness Month, 3Delta Systems Inc. released Top 10 Business Best Practices for Fighting Credit Card Theft and Fraud, downloadable from www.3dsi.com/about/press_releases.htm. Best practices range from building a multilayered offense to forming an internal security team to establish and enforce policies. For additional information, visit the National Cyber Security Alliance at www.staysafeonline.org.
Consumer angle on mobile payments
Mercator Advisory Group released the second of eight reports in its Customer Monitor Survey Series. The report, Consumers and Mobile Payments: Familiarity Paving the Way, explores consumer perspectives on mobile payments. It delves into consumers' confidence in mobile payment applications, current mobile payment usage, receptivity to payment concepts, concerns about security and interest in new mobile applications such as e-coupons. For more information about the report, visit www.mercatoradvisorygroup.com.
Remote payments or NFC?
A white paper commissioned by Vesta Corp.,Remote Payments Drive Near-Term M-Commerce Revenue Opportunity for Mobile Operators, discusses how remote payments could outperform near field communication (NFC) in driving the projected $22.5 billion mobile commerce market by 2014; money transfer services are expected to drive $6 billion in end-user revenues by 2014. For more information, visit www.trustvesta.com/whitepapers.aspx.
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