North American Bancard Blog

Nancy Bakanowicz

Recent Posts

Real-Time Payments Are Not Just About Speed

Posted by Nancy Bakanowicz   |   
The shift to real-time payments is fast a approaching, and banks and other financial institutions must start making significant changes in preparation for the shift, otherwise whey will find themselves woefully unprepared and losing to other banks that will take advantage of being one of the first to implement the changes. Read More

Topics: payments

Small Merchants and EMV – Why It’s Important to Get Compliant Now

Posted by Nancy Bakanowicz   |   
Since the EMV liability shift took place in October 2015, nearly two million merchants nationwide have changed their point-of-sale (POS) terminals from those that accept only magstripe cards to ones that accept the embedded-chip payment cards. The decision to make the change to EMV was done in part to bring the U.S. in line with much of the rest of the world that already use EMV cards, but also because EMV cards are far more secure than magstripe cards, even though the cards issued to U.S.-based accounts do not require a PIN number as do EMV cards in other countries. Read More

Topics: EMV, Fraud

Integrated vs. Semi-Integrated: What’s the Difference?

Posted by Nancy Bakanowicz   |   
They’re two terms that are heard a lot within the payments industry – integrated and semi-integrated EMV systems. But just what do they mean to you as a merchant? Both refer to the implementation of EMV and the liability shift, that happened on October 1, 2015, and essentially mean that merchants and acquirers, rather than the card issuers, will be responsible for any financial losses as a result of accepting fraudulent, counterfeit, lost and/or stolen payment cards. The only way this burden can be mitigated is through EMV compliance. Read More

Why Are SMB’s Hesitant to Embrace New Technology?

Posted by Nancy Bakanowicz   |   
A recent survey by leading B2B research firm Clutch showed that potentially thousands of small businesses are not correctly utilizing new technologies and digital marketing, which can negatively impact their success, limit growth and make it easier for their competitors to steal potential customers away. Beyond the two main reasons that, according to the report, business owners cite for not using new technology – the associated expense with conversion and the inexperience they have with the available tools and strategies – there are others, including the incomplete or inaccurate understanding of new technologies, lack of proper training and employee education, and overly-cautious and close-minded attitudes. Any of these can severely inhibit the growth, progress and success of your business. Read More

Fighting Chargebacks? Don’t Make These Mistakes!

Posted by Nancy Bakanowicz   |   
  The word “chargeback” can send a shiver down the spine of any merchant. Dealing with chargebacks, which occur when a cardholder disputes a charge that he or she did not authorize – and may or may not be the result of fraud – are a complex, expensive and often aggressive problem. As it is designed for consumer protection and to increase consumer confidence, the often lengthy chargeback process rarely favors merchants. The end goal for issuing banks and credit card companies is to keep their cardholders happy, so they often require very little proof to validate a dispute, leaving the onus on the merchant to do all of the legwork in an attempt to make his case. This is often a costly hassle, as the burden of proof to show that the customer’s purchase was legitimate falls on your shoulders, and should the customer prevail in the dispute, you lose both the product/service sold and the revenue from the sale. In addition, the fees and penalties charged by banks and processors can make even the disputes that turn out in the merchant’s favor quite expensive. Read More