CrossCheck Blog

It’s good news/bad news for the small business owner this year. Many small businesses expect to see revenues grow in 2013, but many are also finding it harder to run a business than five years ago according to a survey by Constant Contact. Top concerns among these business decision-makers are the stalled economy and keeping pace with technology. Overcoming these challenges is important to all of us as small businesses provide 55 percent of all jobs and account for 54 percent of all US sales.

The sign is up, the inventory is in, your staff is trained. You’ve done it - you’ve opened the doors to your new retail store and are ready to welcome customers. As a new business, in addition to forecasting sales and stocking shelves, you’re probably thinking about what payments to accept. For some business owners, it may seem that the best way to avoid the risk of a bad check is to not accept checks at all. But to do so means fewer sales and fewer customers, not exactly the best way to start off a new business. Maybe you’re considering a verification or guarantee service but aren’t quite ready to make a decision. Even without a check service in place, there are basic steps a store can take to reduce the risk of accepting a potentially bad check.

Back-to-school shopping is the second biggest retail event of the year, with holiday shopping being number one. The competition for back-to-school-dollars comes from department stores, office supply stores, warehouse stores, fashion boutiques and specialty stores and each is vying for their piece of the $26.7 billion pie. Add in back-to-college spending and the total may exceed $70 billion this year!

Results from the 2013 Houzz & Home survey confirm what the busy parking lots at the home improvement stores indicate: homeowners are back in business when it comes to renovation, redecorating and remodeling. And, though home sales are also on the upswing, most renovation is being done by owners to please themselves, not for resale opportunities. Does this mean opportunity for your home improvement or building supply business? Of course, it does.

Staying current in the payments industry is a challenge. Blink and there's a new digital wallet or app on the market. New inventions, associations, regulations and software innovations are emerging at lightning speed. Move too fast, you might invest in the wrong technology, move too slowly, you could be stuck with yesterday’s equipment and obsolescence. What’s a payment provider (or business who works with one) to do? Here are a few suggestions that can keep you in the know rather than in the dark.

Housing starts and housing sales are up.That’s great news for building supply, roofing, landscaping and flooring businesses. This is also good news for home furnishing retailers. As the housing market rebounds, furniture retailers and chain stores with home goods departments are looking forward to a sunny forecast for their businesses, too.

Many of us consider our pets to be important members of the family. We transport the family dogs to play dates, the park, the vet’s office and to the beach. We bring them along to keep us company while running errands. They join us on vacations and to our favorite camping spots. Their comfort translates to our own. Finding a vehicle that provides safety for the family, including the pet passengers, is a major “must have” on the automobile shopping list for those in the market for a new car.

Get ready for some alarming numbers. There were over 12.6 million victims of identity fraud in the US in 2012. That reflects an increase of more than 1 million over the previous year. The haul for the fraudsters? How about more than $21 billion. Identity theft has become a huge and horrible problem for the victims and businesses impacted by this crime and the trend is growing as indicated in a recent report by Javelin Strategy and Research.

Payment innovation may be right around the corner, but it could be a little tricky getting there according to a new study on digital wallets. Digital wallets refer to new payment technology that allows consumers to pay with their mobile device, usually a smart phone. As check processing providers we hear a lot about digital wallets and cell phone apps that let you pay without plastic, cash or paper. Is this the future of payments?