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Costco Breaks Up with American Express – What’s Next for Amex?

American Express’ co-branding and merchant acceptance agreements with the popular wholesale retailer Costco were not renewed in February 2015. Costco has decided to partner with Visa for their preferred Card Network, and signed Citigroup as the issuer of the co-branded cards. The change-over is scheduled for March 2016. While merchants and co-branding partners often transition, [...]

NSA Revelations Continue to Impact American Tech

The National Security Agency's vast surveillance is going to cost the US tech sector a lot more than originally thought. The Information Technology and Innovation Foundation (ITIF), a non-profit think tank with a focus on technology innovation, recently released a report in which it raises its previous estimation of how much surveillance by the US intelligence community could [...]

MCX Gaffes Paves the Way for ACH Based Transaction Competition

Warren Buffett, one of the founding members of the three comma club, has a tried and true investment strategy: be fearful when others are greedy, and be greedy when others are fearful. Merchant Customer Exchange (MCX) has hit a bit of a rough patch. MCX membership comprises some of the largest retailers in the country, [...]

Data Breach and Your Business

Cyber Liability Insurance is a coverage that many businesses have overlooked in the hopes of keeping costs down in tough market conditions. With the dramatic increase of highly publicized data breaches faced by major retailers, health insurance companies, and banks, cyber liability coverage is finally gaining the attention it deserves. In today’s market many businesses focus [...]

Liability Shift: The Security Behind the EMV Transition

Consumer Data Breach: it’s the phrase that neither a consumer, nor a merchant, wants to hear. Unfortunately, the reports of large scale data breach have increased dramatically over the past few years. Global companies like Target, Sony, and Home Depot have all experienced compromised data. In addition, companies you’d expect would be well protected, like JP [...]

Small Merchant EMV Assistance Program

U.S. small businesses have been slow to adopt EMV technology. To help ease the transition, American Express has introduced the Small Merchant EMV Assistance Program. To recap, EMV cards, or 'chip-and-PIN' cards, are set to replace antiquated magnetic stripe reader (MSR) card technology by October 2015. Instead of being swiped like current cards, EMV cards [...]

4 Things to Consider Before Switching to a Modern POS System

Things are not what they used to be. Remember the days where purchasing goods required huge buttons being pressed down to create a total, after which the cashier would accept your money and deposit it into a register? Well, that cash register still exists but as the 21st century unfolds, the demand for a more [...]

Do You Qualify for a Small Business Loan?

You have a small business and your looking to expand, refinance, acquire more capital, ect. You need a small business loan, but you’re not sure if you qualify. Well first lets decide if you’re actually a small business. According to the U.S. Small Business Administration the following characteristics are those of a small business: Organized [...]

Checklist: Forming an LLC

LLCs, or limited liability companies, are often used by small business owners to protect their assets and keep their businesses separate from their personal financial lives. If you are thinking of starting a LLC, below is a checklist of steps you'll need to complete before forming. Keep in mind that your LLC's requirements might vary [...]

Insurance Provider Anthem Hit By Massive Data Breach

Another day, another data breach. This time, the nation’s second-largest health insurance company, Anthem Inc.; as many as 80 million customers may be affected. What’s been stolen? Hackers broke into Anthem’s computer system to obtain customer’s (both current and former) personally identifiable information including names, email addresses, birthdays, medical IDs, social security numbers, street addresses, [...]