Category: Payments

Five Payment Processing Terms You Need To Know

Posted on by fortis2025

Whether you’re a new business owner or a seasoned professional, the payment space is full of confusing terminology. Here are five payment processing terms that you should know:

1. Batch
This is when you, the merchant, send multiple authorization requests to the processor to be settled.

2. Card Present Transactions
This type of transaction occurs when the card is physically present and is generally swiped, inserted, or tapped at a terminal at your business location.

3. Card Not-present Transactions
This type of transaction occurs when the card is not physically present and often requires obtaining additional information to verify the purchase and the cardholder’s identity. These transactions are generally completed over the phone or with online purchases.

4. Gateway
Gateways are what connect your business to the payment processor to help facilitate the transaction process. Not all processors have their own gateways and may partner with another company to provide a secure payment experience.

5. Point of Sale
Oftentimes abbreviated to POS, this is generally where a transaction is completed. Depending on your business, this can be a standard terminal fixed to a certain place (like a front desk or register) or a mobile or on-the-go solution.

Payment processing doesn’t have to be intimidating. Let FortisPay help your business today! Contact us here.

Five Easy Ways To Go Green With Payments

Posted on by fortis2025

As a business owner, you may think it’s difficult to go green. There are many easy steps you can take that not only help the environment but also improve the safety and savings of your business.

1. Don’t write down credit card numbers 
This not only wastes paper, but it also puts your customer and your business at increased risk. All sensitive information should be entered directly into your payment system for security purposes.

2. Print responsibly
If you need to print something, ask yourself “is this something that needs to be printed?” Especially consider this for lengthier documents or receipts that can be sent electronically. Electronic documents are not only easier for your customer, but also for your business as the information is more readily available.

3. Integrate
Integrating with a payment processor will not only improve your business’s efficiency but also provide one location for all transaction data to be stored. This drastically reduces the time spent reconciling by hand while also adding additional payment functionalities.

4. Provide online payment options
If your payment integration gives you the ability to send invoices or accept payments online, use it! Customers love a variety of payment options, and these features are a simple way to cut down on excess paper.

5. Send digital receipts/invoices
It has become more commonplace for people to request electronic receipts and/or pay their bills online. If your business uses online invoice functionalities, use them to help automate the payment process and reduce waste.

Have a question? Contact an expert, here.

Why Does PCI Scope Matter to Business Owners?

Posted on by fortis2025

As a business owner, why should you care about PCI scope? It may not seem important, but it can easily impact your business if you aren’t taking the necessary measures.

What Is PCI?

Payment Card Industry (PCI) Compliance, is “a set of security standards designed to ensure that ALL companies that accept, process, store or transmit credit card information maintain a secure environment” (source). 

PCI Compliance is monitored by the PCI Security Standards Council (PCI SSC). They help to ensure that payment and fintech companies adhere to specific guidelines, practices, and standards to ensure payment data is stored and managed securely.

What Does PCI Scope Mean Exactly?

PCI Scope is what parts of your business environment the PCI SSC determines must meet their guidelines. Since their guidelines deal with the proper storing and management of cardholder data, they consider anything that stores, processes or transmits data as “in scope”.

What Does It Mean to Be Out of PCI Scope?

When you partner with a payment or fintech company that keeps PCI “out of scope”, it means that they take the necessary steps to ensure payment data security for your business on your behalf. 

These companies are required to submit thorough paperwork to the PCI SSC every year demonstrating their compliance. They also partake in annual PCI training and require all employees to be knowledgeable in cardholder data safety practices.

Why Should I Partner With Someone Who Keeps PCI Out of Scope?

Partnering with a payment or fintech company that keeps you out of scope for PCI has numerous benefits, such as:

  • Reducing compliance and operation costs
  • Increase cardholder data security
  • Reducing breach risk and liability
  • Expert knowledge and reliability

Ready to partner with us? Click here.