Tag Archives: credit card

Cash Used to Be King — Now?

Cash used to be king — now? As reported by the Federal Reserve Bank of San Francisco (FRBSF), in 2012, cash represented 40 percent of U.S. consumer spending. By 2016, this figure had fallen to 31 percent. Furthermore: “Most consumer … Continue reading

Posted in Part 3: Targeting Customers and Gathering Information, Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing | Tagged , , , , | Leave a comment

For Small Businesses: Payment Processing Must Be Easier

For large retailers, handling multiple credit/debit card brands is pretty systematic due to their own sophisticated computer systems and the support from the major card issuers. The tasks are not as simple for small retailers. As reported by PYMENTS.com: “Running a … Continue reading

Posted in Part 3: Targeting Customers and Gathering Information, Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing | Tagged , , , , , , | Leave a comment

How Will YOU Pay for Holiday Gifts?

Interestingly, according to a recent survey of 1,000 people, 39 percent of holiday shoppers will pay for their gifts in cash, 32 percent will pay with a debit card, and only 22 percent will pay by credit card. Three percent … Continue reading

Posted in Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing, Video Clips (non-career) | Tagged , , , , , , , , , , , | Leave a comment

Fighting Credit Card Fraud

Credit card fraud costs retailers, consumers, banks, and credit card firms billions and billions of dollars worldwide — and that only includes the fraud we know about, not the fraud that goes unreported. This post focuses on online credit card … Continue reading

Posted in Online Retailing, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing, Privacy and Identity Theft Issues | Tagged , , , , , , , , | 5 Comments

What Are the Steps in a Credit Card Transaction?

The answer to this question is not known by many retail employers and almost almost all shoppers. They often just see a card number being entered and computer software do its magic. The infographic below by ProPay, a firm that … Continue reading

Posted in Part 5: Managing a Retail Business, Technology in Retailing | Tagged , , , , , , , | 3 Comments

When Will U.S. Credit Card Companies Turn to Smart Chips?

As we recently posted, data security — and the lack thereof — is a huge problem that needs to be fixed for both retailers’ and shoppers’ protection. First, let’s look at some more statistics. Then , let’s consider the best … Continue reading

Posted in Global Retailing, Part 3: Targeting Customers and Gathering Information, Part 5: Managing a Retail Business, Part 7: Communicating with the Customer, Privacy and Identity Theft Issues, Technology in Retailing, Video Clips (non-career) | Tagged , , , , , , , , , , , , , | 3 Comments

A Supreme Court Victory for American Express — But Not for Retailers

In a major June 2013 business ruling, the U.S. Supreme Court sided with American Express and against the firms’ retail clients. This is especially significant for smaller retailers. As reported by Lawrence Hurley and Andrew Longstreth for Reuters: “The U.S. Supreme … Continue reading

Posted in Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing | Tagged , , , , , , , , , | Leave a comment