Uncategorized Blog Posts

By The High Risk Guys

PCI Extends Key Encryption Deadline to 2018

Close up of credit card on a white background

While Visa is busy coming up with new changes for merchants and customers, PCI has announced that the key encryption deadline has been extended from June 2016 to June 2018. These changes can help and hurt merchants, but they can lead to better security then merchants do switch over to Transport Layer Security (TLS) from Secure Sockets Layer (SSL). However, even though security will be improved for all, high risk merchants will still be under the microscope. While fraud is a major factor with high risk merchants, it isn’t the only issue that brings on the “high risk” labeling. Chargebacks […]

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Obtaining a High Risk Merchant Account can Safeguard Customer’s Data

Girl using her laptop in her house.

At the end of July 2015, the IRS announced that they were the newest victim to a massive security breach. The data breach allowed the hackers to obtain detailed tax-return information on 104,000 taxpayers. The portion of the website that was penetrated is known as the “Get Transcript” application. The purpose of this application is to allow the individual taxpayer to access tax information from previous years, which also involves navigating identity-verification queries; such as, email address, social security number and other personal, financial questions. The biggest worry here is if the IRS can be hacked and lose such a […]

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Fraud Concerns Inhibit Merchant Innovation

Banks and other financial institutions are reacting in strange ways to the upcoming changes to point-of-sale payment methods like mobile payments and EMV-chip technologies. Some of the requirements are changing. For example, where card users may not have had to sign or enter their PIN number for purchases under a certain amount, they may now have to in light of recent changes. The requirements are inconsistent and tend to vary if the card has EMV technology or if the customer is using a mobile payment method. New Technology Seems to Baffle Banks EMV-chip cards are supposed to increase security by […]

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Operation Choke Point Aims to Take Out “Faux” Debt Collectors

Let’s face it: No one likes a creditor. Consumers and merchants alike dread having to deal with a creditor. While the majority are nice, decent people just trying to make a living, there are a few bad apples in the bunch who have made an overwhelming number of Americans hate the industry. Operation Choke Point is making a comeback in the news, thanks to a rogue bunch of debt collectors chasing faux-debts in Georgia and other states. According to Chris Willis from the Ballard-Spahr firm in Atlanta, “”This is exactly the same as Choke Point but in the credit card […]

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There Are Good Credit Repair Companies That Help Consumers

The credit repair industry has grown by leaps and bounds during our recent recession. Hundreds of thousands of Americans have seen their once stellar credit scores take a fatal nose dive. Any time there is a disaster, crooks see an opportunity to take advantage of those who have been affected. This has happened in the credit repair industry and it is a factor in why credit repair merchant accounts are considered high risk. Many of the previously affected individuals are now fully employed and are ready to take on more credit like a new car loan or mortgage. Some need […]

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Walmart vs. Visa…Again

Walmart and Visa are headed to court once again to battle. Walmart is suing Visa for alleged violations of federal and state antitrust and unfair competition laws. The company is seeking $5 billion in damages, which could be increased should they actually win. This is not the first time these two have battled in court; last June, Visa sued Walmart in the Brooklyn federal court in an attempt to undercut the main arguments the retailer might make if it sued Visa. This non-stop battle is not only bad for merchants, but for consumers who may end up paying the ultimate […]

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New Momentum Added Toward NFC Efforts

A less costly, software-based way to handle mobile transactions using near-field communication (NFC) technology is expected to begin fueling NFC payments later this year following the release of specifications from both MasterCard Inc. and Visa Inc. This is fantastic news for those who are becoming security-conscious after the massive Target data breach from December 2013. MasterCard plans to issue its specifications for the method, known as host card emulation (HCE), by the end of June. Visa announced in February it is supporting its contactless technology, payWave, for mobile payments using HCE. Support from the two major international card networks comes […]

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E-Commerce Sales Indicate Growth

U.S. online and mobile e-commerce transactions were on the rise again in February. Revenue from e-commerce transactions during February were up 10 percent over the same month in 2013. Transactions during the same period rose 12 percent year-over-year. Growth in mobile e-commerce continues to be strong. The share of online commerce performed on mobile phones in February rose from 14 percent in 2013 to 19.5 percent this year, a 45 percent increase. This shows that the economy is getting back on tracks, as well as that mobile payment systems are becoming very popular. One of the main benefits of shopping […]

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Mastercard is expecting a Lift thanks to Mobile Payments

MasterCard is expecting an uplift in contactless transactions to lead to a revolution in mobile payments, with the card scheme currently running 50 NFC pilots across Europe. According to Mastercard, the contactless transactions are now available in 63 countries worldwide, and in 34 countries in Europe including seven new countries in 2013: Azerbaijan, Finland, Ireland, Macedonia, Moldova, Montenegro and the Netherlands. This is extraordinary, and hopefully will soon be implemented in the United States. MasterCard’s contactless cards or devices have been issued by more than 220 financial institutions in Europe and can be used at almost two million merchant locations […]

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Opening an Acai Berry Merchant Account Made Easy

Although it is quite a well-known fact that the business of the Acai Berry is generally considered to be a high risk one, it is surprisingly not too difficult to acquire an Acai Berry Merchant Account. Once merchants have gotten through the more difficult stages in the process and done as much research about the Acai Berry industry as possible, obtaining a merchant account in this field is actually quite simple. As a merchant the first step you should take is to find out if there are any possible complications in the setting up an Acai Berry Merchant Account. It […]

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