Merchants will improve their customer experience accepting chip cards by training all users and cashiers. The transaction process is different for EMV than standard swipe transaction, in order to support the different flow for processing chip cards.
In 60 seconds, CenPOS users can view the new screen prompts for the cashier and the consumer to process a chip and signature and a chip and pin transaction.
TIP: Having an EMV capable terminal does not mean a merchant is ready to accept chip cards. In the CenPOS environment, if a merchant installed a future proof, EMV capable terminal to get ready for EMV, the next step is to convert to EMV enabled. This always requires turning on EMV at the merchant account level, in addition to other steps. CenPOS has completed certifications for multiple terminals and acquirers to enable merchants to become EMV Compliant today. Contact your relationship manager for assistance.
If you’re not a current CenPOS customer, contact Christine Speedy for sales and integrations at 954-942-0483. Don’t just get ready, get EMV Compliant.
Merchant payment gateway choice impacts merchant fees. Managing credit card interchange rate qualification is critical to profits.
Transcript: Rising merchant fees impacting profits? Meet Joe, a CFO. The problem is rate qualifications. The system is too complex.
It’s impossible follow the rules without an automated system.
Employees can influence costs.
The same transaction can process at different rates, depending on which rules you follow.
Until now. Introducing 3D Merchant Services. Cloud payment solutions that work with YOUR financial partners. Here’s how the payment gateway works. Patented solution determines the best way to process. You pay less. Users are required to follow rules. Competitors say it can’t be done. The proof is measureable. It’s quick and easy to use. Efficient, secure, processor neutral, Level III processing, YES.
Call 3D Merchant Services 954-942-0483 for a demo and free trial.
Author: Christine Speedy. “Managing interchange rate qualification is virtually impossible without a technology solution. The right payment gateway selection is critical to merchant success and managing fees with any merchant account.”
Expanded information about this subject: Problems with other payment gateways:
Bob swipes the card on Virtual Terminal A, enters the amount and submits. ALERT: enter sales tax. (type in or enter to skip). If the extra info is entered, the transaction qualifies for Commercial Data Rate II 2.10%, if skipped, it’s 2.65%. (Most virtual terminals CANNOT support level III on swiped transactions.)
Bob swipes the card on Virtual Terminal B, enters the amount and submits. ALERT: Submit level 3 data. (This data has been prefilled with the transaction information and additional data stored in a template.) One click later and the transaction qualifies for Commercial Data Rate III or Large Ticket if a qualified large sale amount.
Moto (mail order / telephone order
Bob key enters a transaction on Virtual Terminal A and submits. After the sale is completed, an ALERT appears. You can lower your rate if you complete the next two steps. Do you think Bob ever skips the next steps because he’s busy or interrupted? You bet.
Bob swipes the card on Virtual Terminal B, enters the amount and submits. ALERT: Submit level 3 data. One click later and the transaction qualifies for Commercial Data Rate III or Large Ticket if a qualified large sale amount.
These are some simple examples. But there are many more complex rules for all sorts of different card types and transaction types. Most virtual terminals have no intelligence to help merchants with interchange rate qualification. Merchant account payment processor reports have also improved with reports for ‘non-qualified’ transactions. They’re not entirely accurate. For example, commercial data rate II is a qualified rate. However, commercial data rate III is better. Will any report tell you if there were transactions that could have processed at an even lower rate? While several of the big ones have improved, they’re still a long way from automating interchange optimization.
If you want peace of mind, instead of pouring over reports, an automated solution for interchange management is critical.
Token billing solves the problem of storing credit card data for recurring billing customers, but that doesn’t fix the merchant problem of replacing credit card authorization forms.
Video Transcript: Meet Mary. She manages accounts receivable. The problem is credit card security. Customer approval is needed for accounts on file. Image credit card authorization form. But there’s no secure way to store the authorization without also storing the credit card number and security code.
Until now. Introducing 3D Merchant Services. Cloud payment solutions that work with YOUR financial partners. Here’s how it works. Create a token. Image iphone, computer with virtual terminal screen, batch upload, point of sale, and integrated solutions. Anywhere. Or have customers create and manage their own. Electronic bill presentment and payment, ecommerce, online payments. And then, for every token created, a prefilled form is automatically created! PCI DSS compliant.
Charge cards in seconds. Rocket blasting. ACH? Ditto. Efficient, secure, processor neutral, Level III processing, YES.
Call 3D Merchant Services 954-942-0483 for a demo and free trial.
Author: Christine Speedy. “PCI compliance is virtually impossible without a technology solution. The right payment gateway selection is critical to merchant success and reduced PCI burden.”
Can virtual terminal selection impact credit card processing fees? Yes. This video #34 compares fees using First Data Linkpoint global gateway and then CenPOS. All cloud virtual terminals are not alike. Christine Speedy, CenPOS sales, shares corporate and purchasing card interchange rate qualification on 2013 merchant statements before and after switching virtual terminals. The merchant account remained the same.
Are you a First Data Linkpint merchant looking for an alternative? With our payment technology, which includes free hosted online payments page, you can keep your Bank of America or other First Data merchant account, yet still have all the other benefits of an omnichannel virtual terminal and gateway.
If you’re searching for an intelligent omnichannel payment solution, don’t waste another minute. Call now.
Variable payment recurring billing is easy and fast using CenPOS token billing solutions. Video shows how to retrieve a stored token to charge a credit card again. Tokens replace sensitive card data with random alpha numeric characters. Merchants can then charge the card again, with customer permission, by retrieving the token.
Tokens replace sensitive payment information with the last 4 digits of the card only, and the random alpha numeric token ID that replaced the full card number. CVV can never be stored, per card association rules, but merchants can perform a zero dollar authorization before creating a token.
Click on the credit and debit tab.
Select USE TOKEN. If the ‘use token’ icon is not visible, contact the merchant administrator to update user permissions, either by moving the user to a new role that has the use token permission, or by updating the existing role to add the permission to all users in the role.
If you don’t know the token ID, search for it.
Select the token by clicking on it.
Then enter the sale details. If the merchant has set up additional information fields, enter now. If the credit card type qualifies for special interchange rates that require additional information, such as a purchasing card, CenPOS will automatically prompt for it.
A receipt is automatically delivered to the customer email address put on file when the card was originally stored and the token was created. As a reminder, full credit card data is never accessible to anyone after a token is created.
The same process applies for stored checking account information via the Checks tab. By regulation, merchants cannot initiate repeat sales creating an ACH on business checks. Customers must initiate business ACH transactions. CenPOS supports that via the Electronic bill presentment and payment, or EBPP electonic invoicing solution.
About the author: Christine specializes in providing merchants with innovative technology to create efficiencies and ease the burden of PCI compliance. With a primary focus on “card not present” payment processing solutions for mid-size companies, including manufacturers and wholesale distributors, merchants improve PCI Compliance and streamline the payment experience for both their company and their customers. It’s fast, easy to use, and requires no capital investment to implement. For sales call Christine Speedy at 954-942-0483 or click here for more information.