Skip to main content
Category

Blog

Nick
In Blog

Everything You Need to Know About Crypto Credit Cards

Everything You Need to Know About Crypto Credit Cards

With more people than ever before investing in cryptocurrency, crypto credit cards are also becoming more commonly used. Keep reading to discover everything you need to know about the top crypto credit cards and how readily accepted they are at this current time.

How Easy Are Crypto Credit Cards to Use?

A crypto credit card works in the same way as your traditional credit card. One of the top reasons that someone would want to invest in this type of card is that they offer generous cashback rewards on purchases. However, instead of receiving cash as you would on a standard card, you’ll be rewarded in cryptocurrency or the company’s rewards points. With so many cryptocurrencies on offer, you can then convert these to the one of your choice to continue building your investments. As with any credit card, you’ll need to ensure you pay off your card as usual on time to avoid late fees. You’ll find cards that allow you to pay both in dollars or crypto, so you’ll want to consider which would be the best solution for your current needs.

Are Crypto Credit Cards Widely Accepted Yet?

In general, crypto credit cards are already well accepted both online and in stores. As with any type of credit card, you’ll need to check that the website or store you are purchasing from will allow you to use this card. This is especially true when you are paying in crypto, as opposed to just receiving rewards in cryptocurrency. As time progresses, we expect crypto credit cards to become more and more popular, so more stores will be willing to accept this type of payment.

Top Crypto Credit Card Options

With so many crypto credit cards to choose from already, it can be tough knowing which would be the best solution. These are just a few of the most popular crypto credit cards on the market today.

BlockFi Rewards Visa Signature Credit Card

The BlockFi Rewards Visa Signature Credit Card is one of the top new releases of the past year. As well as offering great sign-up bonuses, you’ll earn up to 3.5% back in cryptocurrency within your first three months. The great thing about this card is that you can use it anywhere that visa is accepted, making it easy to shop online and in-person.

Crypto.com Visa Cards

Crypto.com offers a range of Visa crypto credit cards, and they also come with great rewards perks. For first-time crypto credit card users, you’ll probably want to look at the free Midnight Blue visa card. This offers you 1% crypto back on any purchase. You can then continue upgrading your card as you invest more, offering you higher cashback rates.

Gemini

Gemini is compatible with over 30 cryptocurrencies and offers no exchange fees to customers. There’s no annual fee with this card, and transaction fees are reasonably low, depending on which card you select. It’s accepted by any store or website that takes MasterCard, meaning it’s well-accepted around the world.

As you can see, it’s an exciting time for anyone looking to invest in cryptocurrency, as a crypto credit card can help you on this journey. We recommend you undertake further research to ensure you select the card that’s right for you and to minimize your financial risk when opening a new credit card.

———

This article does not constitute financial and/or legal advice. Always contact a professional.

Nick
In Blog

EMV: Why is it important to make the transitions to chip card readers?

What is EMV?
EMV chip technology is becoming the global standard for credit card and debit card payments. Named after (Europay, MasterCard® and Visa®), this technology utilizes embedded microprocessor chips that store and protect cardholder data. This standard has many names worldwide and may also be referred to as: “chip and PIN” or “chip and signature.”

What is EMV/Chip technology?

EMV technology is an evolution in our payment system that will help increase security, reduce card-present fraud and enable the use of future value-added applications. Chip-enabled cards are standard credit/debit cards that are embedded with a microprocessor chip. Some may require a PIN instead of a signature to complete the transaction process.

What makes EMV different than the traditional magnetic stripe card payment?

Simply put, EMV is the most recent advancement in a global initiative to combat fraud and protect sensitive payment data in the card-present environment. Payment data is more secure on a chip-enabled payment card than on a magnetic stripe (magstripe) card, as the former supports dynamic authentication, while the latter does not (the data is static). Consequently, data from a traditional magstripe card can be easily copied (skimmed) with a simple and inexpensive card reading device – enabling criminals to reproduce counterfeit cards for use in both the retail and the CNP environment. EMV technology is effective in combating counterfeit fraud with its dynamic authentication capabilities ensuring the authenticity of the card.

What does EMV migration mean for card-not-present (CNP) merchants?

As EMV technology is adopted in the card present space, it is expected that fraud will also shift to the least secure channels, including CNP/eCommerce. From an online fraud perspective, it’s important that CNP businesses be prepared for this anticipated shift, as experienced in other regions that have already migrated toward chip card technology.
As fraud migrates online and fraudsters continue to get more sophisticated, the tools you have in place now may no longer be advanced enough to protect you and your customers. The strategy is key and it’s imperative to take the extra measures to know your customers their behavior. It is recommended that you avoid the use of Address Verification (AVS) and Card Code Verification Values (CVV) checks as your sole fraud detector since the false positive exposure can be high with these tools alone.

Tools such as 3D Secure utilize SSL technology while adding an authentication step to provide a standardized and secure method of performing eCommerce transactions. By requesting further payment authentication, 3D secure recreated the security of a physical payment environment.
These tools will help reduce eCommerce fraud while having no negative impact on your customers’ experience. Having the ability to control your fraud prevention at the business level, without the required assistance of IT support or third-party vendors, helps to ensure that your non-fraudulent transactions are processed without issue.

Additional strategies to reduce the risk of eCommerce fraud:

  • Achieve and maintain PCI Compliance
    • Keep your shopping cart software updated
    • Always require Address Verification (AVS) and Card Code Verification (CVV)
    • Limit the number of declined transactions
    • Keep a list of confirmed fraudulent transactions
    • Require strong passwords for customers
    • Utilize MasterCard SecureCode or Verified by VISA (3D Secure Tools)

 

 

ccadmin
In Blog

Millennials in the Workforce

​Millennials in the Workforce
​Every generation faces different obstacles when entering the workforce, and Millennials are no exception. The Millennials are the generation that follow Generation X and the Baby Boomer era, with birth dates ranging from the early 1980s to the late 1990s. These Millennials are now coming of age, and they are entering the workforce by the millions. However, unlike with previous generations, advancements in technology have drastically changed the hiring process and job roles.

​Changes in the Hiring Process
It used to be that searching for a job was done by flipping through the classifieds in the local newspaper, or by talking directly to representatives of a company. Nowadays job searching usually takes place online using various employment search engines that allow a prospective employee to submit a resume within minutes. While this process has its advantages, there are distinct disadvantages as well.

An advantage that millennials have, in regards to the hiring process, is the ability to apply for several jobs at the same time using online job platforms. Instead of choosing one particular job, prospective employees can search hundreds of jobs that meet their criteria and submit applications accordingly. In addition to being able to view multiple job openings, the internet has made it possible for job searchers to posts resumes on employment websites so that employers can contact them if they have the qualifications they are seeking.

While there is no doubt that technology has improved certain aspects of job searching, there are some drawbacks as well. When applying for a job online, there is no face-to-face interaction with the potential employer, and therefore it can be difficult to express other qualities, such as personality traits, that may put them ahead of the competition. The ease at which candidates can submit applications, also means that millennials might be competing with dozens of other applicants.

​Job Roles in the Modern World
As more Baby Boomers retire from the workforce, they leave an employment gap for the Millennials to fill. However, with advancements in technology changing the way business is conducted, many of these Millennials must adapt to new job roles. And while Millennials have access to information on a level previously unheard of, this can create some disadvantages as well.

With the scope of the internet increasing, Millennials bring to the table the ability to gather information from a vast array of resources. This can lead to increased efficiency in the workplace, in addition to opening new lines of communication among clients. Whereas meetings with clients in other parts of the country used to involve boarding a plane and meeting the client in person, this can now be done online using Skype or other web applications.

These advancements in technology have also led to skepticism as to whether Millennials are as dedicated to their job as prior generations. Employers are concerned that with so much communication taking place in a virtual world, Millennials will have difficulty dealing with issues in person. Furthermore, there is some doubt whether Millennials value the importance of meeting face-to-face.

ccadmin
In Blog

New Business Startup Tips

New Business Startup Tips​
Starting a new business can be both exciting and terrifying. It’s a big risk, but if you start with a solid plan and you have a strong work ethic, it could pay off in a big way. It could allow you to truly see the fruits of your labor, instead of sweating for a corporation that neither cares for your contributions nor rewards you accordingly.Of course, there can be a pretty big learning curve associated with launching and managing your business venture. Where do you start and how can you ensure the greatest chance of success? Here are a few tips for new business startups.

Understand the Process
You’re not reinventing the wheel, and there are untold resources to help you understand the basics of starting a new business. If you’ve got an MBA under your belt, you probably have a lot of theoretical knowledge, along with some practical skills. This is a great start.

From there you must develop your products or services, undertake market research, and create your business plan. If you take time to plan properly during the preparatory phase, the rest of the process (funding, partnerships, setting up a supply chain, choosing a business location, getting permits, and registering your business) will fall into place more easily.

Hiring
As a startup, you could face insufficient funding, and this may limit your options when it comes to hiring. That said, you still have to try to find the right people for the job.

Hiring requires you to strike a balance between education, experience, and finding people that fit your work culture. What you’re bound to find is that you’ll hook viable candidates based not solely on the salary and benefits offered, but your plan and your enthusiasm for the venture. You might also want to offer future benefits like stock options should your company IPO at some point.

Funding
There’s no getting around the fact that most startups need capital. This can come from a variety of sources, including government grants, banks/lenders, partners, and investors. In most cases, your business plan will play a pivotal role in securing funding, although your willingness to contribute personal funds (or put your money where your mouth is) could also be important.

Work/Life Balance
You’ve gotten your business off the ground. Now what? You’ll be working a lot of long hours to keep your business afloat long enough to start earning income. However, you don’t want to burn out and leave your business in the ashes, so it’s imperative that you attempt to keep some semblance of a life outside of your business.

Passion for Your Professional Pursuits
Starting a new business is hard, even if you love what you do. If you don’t have a strong passion for the industry or your business idea, you’re not going to make it through. This is something you need to think about before you ever consider entrepreneurship.
​

ccadmin
In Blog

How Merchant Cash Advances (MCA) Can Help Grow Your Business

​If you are one of tens of thousands of businesses struggling to get a foothold on startup finances, you’re not alone – conventional financing has become more and more difficult to obtain, especially if your gross monthly receipts are less than $10,000. Thanks to the advent of merchant cash advances, traditional financing is now often used as a last resort instead of a first.Below are a few key reasons why merchant cash advance funds can grow both new and existing businesses.

They’re lightning fast:
Whereas traditional financing takes weeks of underwriting, piles of paperwork and numerous phone calls to get funded, getting a merchant cash advance takes much less effort and can often get funded within 3-4 business days.

All Key Solutions has streamlined the MCA process, allowing merchants to apply and get financing in a short period. Less time finagling with loan applications and waiting on funding is more time available to spend growing your business.

Payments are much smaller:
It’s hard to find a better alternative when payments are so small and, in fact, may shrink if your daily sales decline throughout the month. To clear any confusion, payments are based off a percentage of your daily sales (Visa and MasterCard) and not a flat monthly rate like traditional bank financing offers. These smaller payments build business credit, which may open the door to conventional financing down the road. And most advances are paid off in 6-7 months. This lessens stress, allowing businesses to earn more and pay less each day. (Imagine that!)

The bottom line:
Financing small business ventures is difficult when you lack personal resources or haven’t established business credit.

With merchant cash advances, at least small businesses and even larger businesses that are struggling have a fighting chance to make payroll, purchase inventory or expand.

​

ccadmin
In Blog

Why Your Business Needs to Accept EMV/Chip Credit Cards

​Credit card security is a serious issue. Remember the 2013 Target credit card hack? There are far too many malicious entities out there who do whatever they can, to steal coveted credit card information from consumers for their own ends. In 2013, the cost of credit card fraud in the United States rose to an intimidating $11 billion.

Preventing credit card fraud is a matter of the utmost concern for card issuers. Recently, major card issuers like American Express have begun to issue credit cards that are EMV chip enabled. This new technology provides better security against theft and fraud, and consumers are quickly beginning to favor chipped cards for this reason.

For these chip cards to work, merchants need to update their point of sale systems. If you’re not making the switch to EMV-friendly POS systems, your business could be left behind in the dust as consumer demand for chips rises.  While most large merchants are already on board, many smaller retailers are still catching up.

Here are some of the biggest reasons why you need to start accepting EMV credit cards:

1) They help you fight back against fraud.

EMV cards have small chips embedded inside them. These chips generate unique information for each transaction, making it much harder for fraudsters to steal credit card information and create counterfeit cards. To accept these cards as payment, you will need an EMV-enabled point of sale system. These have special slots in them, and software equipped to process the embedded chips.

2) Your customers want it.

Your customers are quickly adopting EMV credit cards to protect themselves against credit card fraud and identity theft. As this process continues and the cards become more widely used, merchants that can’t accept EMV cards will be left out. Customers are beginning to expect retailers to accept this safer form of credit card payment, and they might not want to buy from you if you don’t have the equipment to do so.

3) It reduces your own liability.

As of October 2015, businesses that are not able to accept EMV cards could be held liable for certain kinds of fraudulent transactions. When you’re running a small business, every dollar counts, and you may not be able to afford this kind of liability.

Close Menu