In the digital age, businesses are increasingly moving away from traditional payment methods such as checks and cash, and adopting electronic payment methods for B2B transactions. Electronic payments offer numerous advantages over traditional payment methods, making them an ideal choice for businesses looking to streamline their payment processes and improve cash flow. What are the benefits of electronic payments for B2B transactions? Faster payment processing Electronic payments are processed much faster than traditional payment methods. With electronic payments, the payment is transferred directly from the payer's bank account to the payee's account, eliminating the need for physical checks or cash. This significantly reduces payment processing time, allowing businesses to receive payments faster and improve cash flow. Increased convenience Electronic payments offer increased convenience for both the payer and the payee. With electronic payments, businesses can make and recei...
As PCI rules and regulations get tougher and tougher desktop applications that accept credit card payments are finding it difficult to comply. Lately we have worked with several clients to bring their desktop application up to PCI DSS standards. There are a couple of options to consider when faced with this problem. Option 1 Rewrite the software in accordance with the PCI DSS rules and regulations. This usually entails going through the cost of an audit, and then making the necessary changes to the software. By the way this will have to be repeated every year. Usually the changes are not minor, but are time consuming, invasive changes, that require manpower and know how to complete. Option 2 Divorce the credit card payments section of the application and have it use a vendor service. For example gym membership software that has three sections, Payments, Members, and Reports. The Payments tab allows payments to be made for members. This Payments section would actually load a...