More B2B Buyers Surfing The Web

More B2B buyers are researching products and are opting to buy online. And it’s fairly simple to understand why: lower prices and the belief website offer “credible” product details, recent research has found. Forrester Research interviewed more than 100 businesses earlier this year for a study it conducted with Internet Retailer. Among the findings, 30 percent of B2B buyers said they make half or more of their work-related purchases online, and 56 percent said they expect to buy that much online three years from now. Moreover, 24 percent of respondents said they shop online because it offers the best prices, while another 24 percent cited the Internet as having “the most credible source of product details,” the survey found. Indeed, online research is becoming a popular choice for B2B buyers, as 74 percent said that they opt to learn about products for their business via the Web. Additionally, 45 percent of B2B buyers surveyed said they typically start their research for work-related purchases on websites because they find the broadest selection of products online. The most popular technological tool to conduct the research and make purchases was laptops, cited by 80 percent of respondents. Desktop computers and smartphones rounded out the top three device options for B2B buyers, cited by 51 percent and 45 percent of respondents respectively. A similar Forrester survey from earlier this year, “The New and Emerging World of B2B Commerce,” also found that more B2B buyers were making the switch from in-store shopping to online. B2B companies are preparing for the fact that more of their B2B customers are shopping online, Andy Hoar, a Forrester...

How to Help Your Clients Combat ACH Fraud

The Automated Clearing House (ACH) Network is an electronic funds transfer process between bank accounts. ACH is most commonly used for direct deposit of payroll and Social Security payments, although an increasing number of companies make accounts payable and tax payments via ACH. Electronic transactions are governed by the National Automated Clearing House Association (NACHA). How Does ACH Fraud Take Place? All that is needed to commit ACH fraud is the account number and the bank routing number taken directly from an unsuspecting victim’s check. The most common form of ACH fraud occurs when a cyber thief using banking custom­ers’ account data initiates payments over the phone for products or to pay off credit card debt. Another often-used ACH fraud scheme is to gain access to the banking system by posing as a retailer to establish a relationship with a credit card processor or a financial institution. Banks set up retail merchant accounts that include the hardware and software to process credit cards and convert paper checks into electronic ACH debits. Be­cause paperless transactions pose substantial financial risk, most banks are careful to thoroughly screen any company that wants to send ACH debits. However, fraudsters still occasionally get through the screening process and victimize others. Banks have liability for al­lowing these network lapses. Once cyber thieves are able to establish a credit card or check conversion account, they create bogus checks using inexpensive check writing software and run the phony checks through an automated check-to-ACH converter. The company submits the ACH debits to its bank, the bank sends the file through the Federal Reserve System, and the ACH debits...

QB EzPay becomes an AuthorizeNet Certified Solution

QB EzPay becomes a Reseller with Authorize.Net offering an integrated payment solution for QuickBooks.  This easy to use software application bridges the gap between their company’s QuickBooks™ file and the Authorize.Net™ Payment Gateway.  The product offers many powerful tools to support multiple payment needs associated with various business...

Benefits of using a credit card

Over 80 percent of U.S. households have at least one credit card. The reason is clear: Credit cards offer enormous advantages over other methods of payment. Although the danger of overspending with a credit card and running up major interest charges exists, those cardholders who use their credit card wisely can experience major benefits. That goes for even those credit cards that do not offer cash back, frequent flier miles, or other rewards programs.   One of the most obvious strengths of credit cards is their convenience. Having a major Visa, MasterCard, Discover Card or American Express credit card in your wallet means no more running to the bank for cash, counting out change, or hurriedly scribbling in a check book when you need to make a purchase. Credit cards even offer benefits over debit cards, the other piece of plastic many of us carry. While debit cards look like credit cards, they lack some of the benefits of being able to charge. Debit cards, many of which are linked to your checking account, sometimes have 24-hour charging limits, which could prevent you from buying that $900 computer you’ve had your eye on. Debit cards can even act like credit cards if you sign for a purchase instead of using your PIN number, with the bank usually covering the difference between the amount in your account and the cost of your purchase. However, when the bank acts essentially as a creditor in this manner, you can get slammed with sizable insufficient fund fees for covering your shortcomings. Alternatives to debit cards linked to checking accounts are called prepaid debit cards, which...