Adulting can be tough. There’s a whole world of things that you’d taken for granted for your entire life, that you’re now responsible for handling on your own. One of these things is credit cards, and making payments on them.

Now that you’re an adult, you’re able to get a credit card, which means you can make purchases throughout the month and then pay the card off at the end of the month rather than paying directly out of your bank account every time you make a purchase. However, it is important to keep track of your purchases in order to make sure that you are able to make the payment on your credit card at the end of the month, so that your card will still be accepted and you are able to be accepted for future credit cards as well.

So, how to manage keeping track of the purchases being made on your credit card so that your spending stays under control?

One way to do this is by limiting your credit card use to specific instances and situations.

For example, you can reserve your credit card use for things like groceries only, or only to pay your utilities and rent, or just for gas and car maintenance. Limiting your spending on your credit card to specific situations helps to remind you how much you have spent, and it also ensures that you spend a similar amount every single month. This is an easy way to keep track of your spending and to also make sure that you don’t use your credit card and end up having to make a payment that you can’t actually afford at the end of the month.

A second way to manage your credit card use is by applying for and being accepted to  credit cards and rewards programs that are specific to certain stores or companies. These in-house credit cards, like the Forever 21 credit card, the American Eagle card, the Target card, or the famous Angel Card, can be used only at their designated locations or at sister stores that are under the same main company. When used sparingly, these are a great way to build up your credit and spend carefully, as you can only use the credit card at one place.

Getting the hang of things like utilities, bills, credit cards, and more can be really difficult, but it is important to learn how to manage credit cards and your payments on them so that you can build your credit for the future, which will help you be accepted for things like loans, signing leases, and other credit cards. Make sure that you stay on top of your payments every single month, even at the beginning of adulthood, because your credit stays with you and contributes to the way that you can build up your future as you continue on through adulthood.

pos credit card processing

When you start to work in retail, there can be a lot of new terms and abbreviations that are unfamiliar to you. Learning how to run the cash register and navigate the sales floor can be tough on their own, but they are even tougher when you don’t know what your manager is talking about. Let’s break down some common retail terms and phrases so that starting your new job can be a little bit easier.

One of the first terms you may hear is SPAH or SPH, which means “sales per hour” or “sales per average hour”. This can apply to your sales as an individual employee, or it can apply to the store’s overall performance for the hour. Stores track this in order to determine what their busiest times of day are, so they know when they need more employees, and they also keep track of the SPAH so they can strive to perform better than previous hours, or the same time the previous year. Many stores have a set expectation or goal that they expect each employee to hit dependent upon their position on the sales floor for their shift.

Another key term that you may hear while working is POS, or “point of sale”. This is more commonly heard when working on the cash register, as the register is the point where the sale is made (hence the phrase POS). This means that transactions are done at this point, and it is where credit cards are sent through the transaction process, which involves many parties, various steps, yet takes place in only a matter of seconds.

Learning how to work the POS system is important, because if an error is made while processing a customer’s credit card, they can dispute the charge with the bank and file a complaint against your store. The customer’s bank will charge a fee for retrieving the transaction data from the store, and if an error is found, a chargeback fee will also be made in addition to the money that needs to be refunded directly to the customer. So, in other words, a mistake can cost a lot of money!

Finally the POS is important to understand because you may be asked to run a mobile POS or an on-the-go POS if the cash register line is too busy. This is done through processing customers’ credit cards by using a mobile phone or tablet that an associate carries on the sales floor during especially busy hours. It can be run through services such as Square, which provides a merchant or business with a small card reader to attach to the portable device, or through another similar service.

Things run fast in the retail world, and it can be difficult to keep up, especially when you’re new. But now that you’re caught up on the common abbreviations that you may encounter in your new job on the sales floor, hopefully the transition gets just a little bit easier and you can do your best at the POS.

One helpful tool in making small local businesses run more smoothly is a software tool called Quickbooks. So, what exactly is Quickbooks, what are its features, and what does it do?


Quicbkooks is an all-in-one tool that allows for businesses to manage their transactions being processed, their expenses, payroll, and to track their receipts. It can be connected to other services such as Google PayPal, Square, and Shopfiy, and it can also be used from a mobile device or a tablet.


A business can connect Quickbooks to their credit cards and bank accounts in order to categorize, see, and organize their expenses. It can also process and track customer’s credit card purchases in order to allow the business to track and manage its cash flow. Additionally, since Quickbooks is connected to the business’ bank accounts and credit cards, it is capable of processing monthly payments on behalf of the business automatically, so that things like website fees or utilities for the storefront are taken care of.


Quickbooks also allows businesses to create invoices to send to customers. These invoices can be customized and catered to the individual business, in order to look more professional and in line with the brand image. When these emails are sent out with invoices, Quickbooks also can add a “Pay Now” button to make processing credit card transactions easier for the customer.


Another feature of the software is assisting the business with preparing its taxes. A one-click report can be generated, which shows things like profits, expenses, and net profit, as well as other important financial information. Payments being made to contractors are automatically tracked for ease in preparation of 1099 forms, there is paperless receipt tracking that can be utilized, and your Quickbooks can also be linked to the business’ accountant so that he or she can access records at any time in order to prepare tax forms more efficiently.


Quickbooks also aids in inventory and payroll. It is able to manage and track shipment and stock information for inventory, as well as how much each item in the inventory has cost the business, in order to set prices and determine the best way to maximize profit. A business can also file payroll taxes through the software, and it can also issue automatic payments to the employees of the business. This is done by simply entering the hours worked by each employee, and selecting whether or not the payment will be issued by direct deposit or by check.


Finally, the software is convenient and mobile, allowing business owners to manage these features from their smartphones or tablets. A business owner is able to access customer information, send invoices, and utilize the paperless receipt service from their smartphone by downloading the Quickbooks app, which is synchronized to the account which is set up on the software.


Overall, this software is an excellent tool to be utilized by small businesses everywhere, and can save business owners plenty of time and hassle by bringing all of its needs into one convenient software.

Apple is making credit card transactions even easier for its iPhone users through two features that can be found on the iPhone. These two features are Apple Pay, and Wallet, and they are free for iPhone users.


Apple Pay is used by a customer inputting their credit card, debit card, or rewards card into their iPhone, and then using their iPhone to pay at participating stores or in participating apps rather than using their physical credit card. The iPhone is used for processing purchases by the machine reader. The service is used by utilizing Touch ID, meaning that the credit card owner’s fingerprint is needed in order for a purchase to be processed. This gives an increased degree of security to the user. Apple also keeps credit card information secure by using a device-specific number and transaction code rather than the credit card number, and it never shares credit card information with merchants.


Most major banks and credit cards participate in Apple Pay, and a growing number of stores and apps are beginning to, as well. Some stores that participate in Apple Pay and allow customers to process their credit card transactions from their iPhone include American Eagle Outfitters, BestBuy, Coca-Cola vending machines, JetBlue, Kohl’s, Levi’s, Nike, Panera, Petco, Sephora, and Subway. Some stores being added in the near future are Forever 21, Free Poeple, Regal Cinemas, T-Mobile, Ulta, and Urban Outfitters.


The second feature available for iPhone users is Apple Wallet, which was formerly known as Passbook. Wallet serves alongside Apple Pay by storing Apple Pay information that is already on the iPhone in addition to other things, such as passes, tickets, coupons, boarding passes, and more.


Tickets, airline, bus, or train boarding passes, and coupons can be downloaded to Wallet, making an iPhone the only thing a user needs to carry. Wallet is also capable of processing and managing rewards and loyalty cards and programs. It can be linked up to various loyalty programs, allowing the iPhone user to track and redeem their rewards with ease, never having to worry about being out at a restaurant or a theatre without their card on them again.


While iPhone users don’t currently have the ability to send payments to one another through an Apple service, Apple is in the works on changing that. They plan to add a person-to-person payment feature through Apple Pay in the fall of 2017, which will let users pay other iPhone holders with the click of a button. This feature will be useful for roommates splitting the bill on different things, such as rent, groceries, utilities, or social events. While they wait for Apple Pay, they can instead process these person-to-person transactions by installing other apps, such as Venmo or Cash, which let the users input their credit card information, label and process their transactions, and pay one another with the easy click of a button on their iPhone.

Android cell phone users are able to use their cell phones for processing and performing credit card transactions through two different services offered by Google, which makes for a convenient and quick way of making payments.


The first service that can be utilized by Android cell phone users is Android Pay, which is similar to Apple Pay. This allows users to tap and pay whenever they see the contactless symbol on a credit card reader or terminal, as well as letting the user check out in a quick and secure manner in various apps. The user can use Android Pay by first adding a credit card from a participating banks, such as Bank of America, Capital One, Chase, Citi, US Bank, and Wells Fargo.


Android Pay lets customers pay with their credit cards in a growing number of apps and stores that accept this method of processing purchases. Some examples of apps and stores which accept Android Pay are AirBnB, Best Buy, Bloomingdales, Chick-fil-A, Doordash, Dunkin Donuts, Etsy, Jamba Juice, KFC, Lyft, Macy’s, McDonalds, Panera, Postmates, Subaway, Trader Joe’s, Ticketmaster, Uber, and Walgreens.


Android Pay is able to manage processing purchases from multiple credit cards, on a user’s cell phone and it keeps a customer’s information safe and secure by generating a virtual account number rather than providing the credit card number when a purchase is being made.


Another monetary feature available on cell phones is Google Wallet. This is a money transferring service which can be used on computers, cell phones, or tablets. It is fast and free, and you can send or receive money through a Google email address or a linked phone number, so the other party does not need to have the app installed. Money can be automatically transferred to a user’s bank account, unlike many other services which require the user to manually cash out.


Google Wallet is also a great way of managing shared expenses, like between college roommates or housemates. If one person is responsible for paying the rent, they can use Google Wallet to collect their housemates’ share of the rent each month. It can also be used to split bills for things such as groceries, or dining out together. It is a great tool for college students, as there are no fees associated with the service and it is completely free to use.


Google has provided Android cell phone users with various tools and services in order to make payments to businesses or to friends and family as easy as pulling out their cell phone and clicking a button. The cell phone is able to contain information for processing transactions from the user’s credit cards, meaning that forgetting a wallet at home isn’t an issue any more. Both Google Wallet and Android Pay are free to install and to utilize, and Google Wallet is not limited to just Android users, it can be installed on other cell phones or used from a computer as well.

EMV…….Worldwide Interoperability
In the payments industry, “EMV” has so many times been used to refer to the original EMV Contact & EMV Contactless Specifications. Over the years, EMV has emerged from a single, chip-based contact specification to include EMV Contactless, EMV Common Payment Application (CPA), EMV Card Personalization, and EMV Tokenization. There are also EMV documents and materials regarding mobile payments.
Taking a look at the trend, “EMV” has been so dedicated to worldwide interoperability and acceptance of secure payment transactions. When used in this form, EMV refers to payment chip cards that contain a coded microprocessor, which is more like a small computer that makes available strong security features and other abilities which are not possible with traditional magnetic stripe cards.
There is a metallic square in front of an EMV contact card which is referred to as the card’s contact plate. A microprocessor chip is installed in a small cavity directly behind the contact plate, which is covered by a thin resin capsule. When inserted into a card acceptance device, like a terminal, the contact plate makes it possible for the chip to connect to a reader. This connection makes the chip to get power from and exchange data with the terminal.
Contactless EMV works by holding a contactless chip-enabled payment device within the reach of a contactless-capable reader. The reader triggers the chip installed in the card, thereby enabling the exchange of data through a radio frequency without the payment device ever leaving the customer’s possession. Research has shown that a contactless transaction can be approximately 53 percent faster than a traditional magnetic stripe credit card transaction and 63 percent faster than using cash.
EMV Contact and EMV Contactless Payment Product have lots of advantages. The use of some features including data authentication, PIN entry, and cryptographic technology, provides additional security against some types of fraud (e.g. counterfeit and lost/stolen).A transaction-unique digital seal or signature in the chip proves its genuineness in an offline environment and prevents criminals from using fraudulent payment cards. Can also be used to secure online payment transactions and protect cardholders, merchants, and issuers against fraud through a transaction-unique online cryptogram. It enables enhanced cardholder verification methods and saves more information than magnetic stripe cards.

EMV Cards…… Reducing risk and complexity
The biggest economy in the world has made a shift to EMV chip cards. The convenience and security offered by EMV when compared to the magnetic stripe cards is massive. Reducing risk, complexity, cost and time-to-market is nothing to fear, EMV cards got you covered.EMV chip cards is been used by consumers to pay nationwide , because the Chip payments reduce counterfeit card fraud, enable global interoperability, and prepare for NFC mobile contactless payments.
In every chip transaction, there is always an online authentication, as part of this process the chip and card issuer communicate with each other to create a type of puzzle that consists of a short piece of encrypted text called cryptograms or dynamically generated codes that are unique to the specific card and transaction.
The cryptograms are the important components of the chip transaction that validate the genuineness of the chip and the issuer in the transaction to make sure it is not counterfeit. Also the creation of dynamic cryptograms provide increased levels of security, using this process means that even if fraudsters were somehow able to steal account data from chip transactions, they would not be able to use it to create a counterfeit card and have fraudulent transactions authorized in a chip or magnetic stripe environment.
The use of chip cards has proven to be extremely successful in producing a desired or intended result at reducing in-person card fraud in countries that have deployed chip technology. The EMV chip card includes an unthreatened microprocessor chip that can keep information securely and perform cryptographic processing during a payment transaction. Chip cards carry security credentials that are converted into a coded form by the card issuer at personalization. These credentials, or keys, are stored securely in the EMV card’s chip and are impenetrable by unauthorized parties. These credentials however help to prevent card skimming and cloning, which is one of the common ways magnetic stripe cards are compromised and used for fraudulent activity.
Also in an EMV chip transaction, the card is authenticated as being genuine, the cardholder is verified, and the transaction includes dynamic data and is authorized online or offline. Each of these transaction security features helps in preventing fraudulent transactions, even if fraudsters are able to steal account data from chip transactions, this data cannot be used to create a fraudulent transaction in an EMV chip or magnetic stripe environment, since every EMV transaction carries dynamic data.

It has been 17 months since retailers were asked to upgrade their point of sales systems to accept EMV enabled credit cards. The benefits of the EMV chip card are numerous, making information harder to steal, lessening the ability for fraudulent sales and hacking. In fact, right now, only 58% of eligible business have made the switch to the new terminals.
Well some merchants purchased payment terminals two or three years ago and are not willing to invest in new terminals. Yes if you lease them they will cost a bit more over the course of a lease, but we are talking about $400 dollars for a basic terminal that can run most businesses. The Mom and Pop shops have invested in a perfectly good terminal that they will probably get another 10 years out of, and in their mind, why should I spend that kind of money when the odds of me getting a fraudulent card are very slim.
And hardware is not the only stopping block. There are many chip enabled terminals that are in place across the country that do not take the chip cards. Why? Because they do not have the programming and software installed to be able to accept the new chip cards. Taking the chip card is a 2 part process for the merchant. First, the merchant must load the newly developed software from a third party to allow the terminal to accept EMV chips. The second process is the certification process that each of the card networks need the merchant to go through. This is coordinated by the merchants acquiring bank. This que to be certified has been very long with weeks waits for merchants.
The third issue that merchants are dealing with the new EMV terminals is the time of transaction. You have probably noticed, these terminals can be a little cumbersome, and clumsy. People pulling their cards out too soon is a common problem. Time of transaction is another issue. EMV transactions are typically 3-5 times longer than a traditional mag stripe card. In a high volume business, this translates to slower sales and lost volume.
But not being compliant has its risks. The biggest risk is being responsible for fraudulent transactions. If your business processes a mag stripe card that is stolen or counterfeit, your business can and will be responsible for the amount stolen, not the banks as it has been in the past. For some merchants, this can amount to 1000’s of dollars for one transaction. Is that worth the wait?

Emv chips and processing is here to stay. It is both the norm and the future of credit card processing. If you are not part of the EMV world, do you really want to take that risk? It is time to take the steps to become compliant.

Visa, in their monthly update on EMV, announced that merchants using EMV, chip enabled terminals account for 46% of all the companies in-store payment volume.
Visa also announced that their year over year increase in chip-on-chip transactions was up 359% this last November.
These numbers all point to a much greater penetration of EMV compliance across the US, and because Visa is the largest card network in the US, these numbers could serve as a benchmark for the progression of the US EMV migration across the industry.
As these numbers rise, they point to a growing acceptance from both consumers and merchants.
• Consumers: Visa’s 400 million chip cards issued in the US represents a 105% year to date increase. This represents a 47% of Visa’s total US cards. Consumers also seem to be adjusting to the dipping and not swiping change with less confusion. Visa also conducted a separate survey of consumers that found 35% of consumers believe that chip cards are now the safest way to pay.
• Merchants: Merchant adoption continues to increase. Up 110,000 merchants over the previous quarter and up 1 million since November 2015. With 1.75 million merchants now converted to Visa EMV platform, it is still just a 38% saturation of the US storefronts. More small businesses are warming to the idea of converting to EMV because of the fraud protections benefits they can reap, so this number will steadily increase. This migration has been delayed for gas stations, an area with high fraud for three years. This will continue to impact merchant upgrades.

The US EMV migration continues to be slow going as the transformations are only raising 7% a quarter. And even though it is likely we will see steady growth in overall EMV penetration throughout 2017, there will most certainly be a reductions of credit card counterfeiting and fraud as these numbers rise.

In 2014 fraud cost US retailers approximately 32 billion dollars. That figure is up from 23 billion just one year earlier. The new payment protocols that were implemented in October of 2015 are meant to solve the fraud problems across in store, online, and mobile payments.

• EMV cards are the most secure form of card payment processes available. Embedded with a microchip for added security, the chip carries real-time risk assessment and generate dynamic cryptogram when the card is used to stop fraudulent activity.
• Tokenization schemes assign a random value for mobile and internet payment making it effectively impossible for hackers to access any sensitive data from the token.
You will see more optimization and implementation of the EMV technology with both consumers and merchants over the next 4 years. Full implementation of EMV technology across US merchants should be completed by the end of 2021.