Card-not-present (CNP) transaction occurs when there isn’t enough information to confirm the card AND card holder are present for the sale. Banks have created a separate category of risk and pricing for CNP transactions because the lack of verifying information leaves business and cardholders more exposed to fraud and theft. As markets continue to migrate more towards self-service transactions, these unattended sales are putting businesses and consumers in high exposure, high risk environments. Years ago,the cutting edge of mobile payments was to provide merchants with free phone attachment that allowed them to take credit card payments. But over time these once loved extras — dongle attachments, dippers, swipers, dunkers and card readers — have become cumbersome and unnecessary. When powered by Payment Foundry, merchants can now use any smartphone to process payments without the need for any additional equipment.
Card-not-present (CNP) transaction occurs when there isn’t enough information to confirm the card AND card holder are present for the sale. Banks have created a separate category of risk and pricing for CNP transactions because the lack of verifying information leaves business and cardholders more exposed to fraud and theft. As markets continue to migrate more towards self-service transactions, these unattended sales are putting businesses and consumers in high exposure, high risk environments.
Solopreneurs are both the founder and sole employee of their company. In North America the number of Solopreneurs is growing so rapidly it's changing how everyone defines the small business segment.
Years ago Merchants were over the moon about having a free phone attachment that allowed them to take credit card payments. But over time these once loved extras — all the dongle attachments, dippers, swipers, dunkers and card readers — have become a pain for Merchants and often cost Merchants the sale.