Tag Archives: Accept Payments Online

ACH eCheck and Online Payments Solution

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Do you need eCheck services due to mail service disruption from recent disasters like Hurricane Irma and Harvey? Or do you just want to boost cash flow and get paid faster? Online payment solutions are quick, easy, and relatively cheap to implement. Using a third party solution vs bank can be cheaper and provides flexibility to change financial services partners without creating customer friction.

Why use a hosted pay page to accept eChecks?

A payment gateway hosted pay page enables customers to passively pay bills online 24/7 via a secure web page. Payment types may include credit cards, Paypal, ACH (echeck), wire and other methods. Because it’s hosted by a 3rd party PCI level 1 certified service provider, PCI Compliance burden is reduced for merchants that want to accept more than eChecks.

online payments echeckA hosted pay page empowers customers to make secure payments online.

Hosted Pay Page Implementation options:

  1. Direct customers to 3rd party payment gateway custom URL- no change to business web site needed. Just email or text the link.
  2. Link from business web site to 3rd party payment gateway custom URL by updating. Html and pay now graphical button available.
  3. Embed the secure payment object on business web site via iframe html. Customers never leave merchant web site, and even though payment is accepted on the 3rd party web site, an SSL certificate is strongly recommended.

There are other ways to collect ACH and eCheck payments remotely, including our alternative service that enables businesses to push out payment requests via via email or text. This method is proven to increase loyalty as well as reduce time to collect payment and is available for an additional fee. It’s available both integrated or standalone.

eCheck Hosted Pay Page Vendor Selection:

The two key methods to process eChecks are FTP direct to the business bank and 3rd party check processor (Web Payments). With FTP, money is in the bank account when the batch is delivered. With traditional eCheck services money is delivered typically in 2-3 business days. In either case, a payment gateway or technology solution secures the data transmission and facilitates compliance with eCheck processing rules.

Vendor selection checklist- which do you need and which would be nice?

  • ACH with guarantee
  • ACH, no guarantee needed
  • Tokenization for quick repeat payments (no need to enter banking info each time, just select the account)
  • Accounting integration
  • Hosted pay page
  • Other payment types supported
  • Text payment request capability
  • Email payment request capability
  • Hosted pay page (only, no text or email)

Managing Costs with Online Payments:

If you’re just accepting eChecks, you’ll be surprised at just how cheap the service is. If also accepting credit cards, the hosted payment solution selected directly impacts the cost of credit card processing. For example, our solution with Smart Rate Selector automatically optimizes the transaction to qualify for the lowest rate. Compliance with rules are complex and few payment gateways have a solution to comply with every situation. With the right implementation, the cost of card not present transactions are often exactly the same as card present, and can be lower than if employees key enter transactions into a virtual terminal.

Free Hosted Pay Page Info:

  • Quick and easy to set up
  • Optional customer registration to store payment data for repeat purchases
  • Echeck / ACH directly to your bank overnight in most cases
  • Optional ACH with guarantee additional fee
  • If applicable, works with your existing merchant services account
  • Month to month service

Christine Speedy, CenPOS authorized reseller, 954-942-0483 is based out of South Florida and NY. CenPOS is a merchant-centric, end-to-end payments engine that drives enterprise-class solutions for businesses, saving them time and money, while improving their customer engagement. CenPOS secure, cloud-based solution optimizes acceptance for all payment types across multiple channels without disrupting the merchant’s banking relationships.

Credit Card Authorization Form and PCI Compliance Update

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A Credit Card Authorization Form enables a business to charge a credit card one-time or for recurring purchases. Is your form PCI Compliant with 2016 standards? Edited from my original contribution to Credit Today, learn the pitfalls and solutions to traditional paper authorization forms.

Do your business practices meet current PCI Compliance standards?

  1. Is it OK to store the form in a locked drawer?
  2. Is it OK to store the form in the cloud if it’s encrypted?
  3. Is it OK to receive them via email?
  4. Is it possible to qualify for the lowest processing rates using them?
  5. Is it OK to key enter each transaction for cards on file?credit card authorization form pci compliant

Credit Card Authorization Forms and PCI Compliance Rules

  • Per PCI 3.2, Neither Primary Account Number (PAN) nor Card Verification Code (CVV) can be stored on paper after authorization.
  • Per PCI 3.4, must render PAN unreadable anywhere stored (including on portable digital media, backup media, and in logs) using one of four cited approaches.
  • No. Per PCI 2 Never send unprotected PANs by end-user messaging technologies (for example, e-mail, instant messaging, SMS, chat, etc.).
  • No. Most cards, except regulated debit, can qualify for multiple rates depending on how the transaction is submitted. For example, MasterCard World card rates:
Rate Name Rate Qualified Rate Reason
Standard 2.95% + $.10 Not all criteria met for another rate.
Merit I 2.05% + $.10 Key-entered or ecommerce and valid authorization + other criteria met.
Full UCAF 1.87% = $.10 Ecommerce; Cardholder authentication and other criteria met.

To qualify for UCAF, the customer must initiate payment.

Ecommerce includes online paypage and other electronic payment channels the customer initiates.

  • No. If a customer authorizes to store a card, then after the initial transaction, all subsequent transactions must be sent with the correct transaction type: recurring or repeat sale.

Alternative methods to process Card Not Present orders:

Hosted pay page. The merchant directs customers to web page to pay any invoice online. Acceptable implementation methods have changed in the last year or two for PCI Compliance. For maximum reduced PCI burden, send customers directly to the 3rd party payment gateway web URL. The gateway may or may not be the same as your processor. NOTE: If hosting on your own web site with an embedded payment (iframe) object, PCI requirements have changed; any old forms should be updated.

Electronic Bill Presentment & Payment. (EBPP or EIPP) This is basically a proactive version of the above. As a standalone solution, the merchant user logs in to a gateway web portal, and sends a payment request via text or email which the customer clicks and pays. Integrated to billing software, it sends the actual invoice, and may require customer to login to make the payment.

All the major payment gateways include a Virtual terminal, hosted pay page, and shopping cart checkout capability, tokenization to store card data for future orders. Some, including CenPOS also offer EBPP.

If you accept cards over the phone, gateways with a virtual encrypted keyboard can reduce PCI scope since card data never touches computers or networks.

Christine Speedy, CenPOS reseller, maximizes profits, efficiency, and security with payment processing solutions including EIPP, collections automation, and online payments. She can be reached at 954-942-0483 or cspeedy AT 3dmerchant.com.

 

 

Accept Payments Online

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Winter Storm Jonas is a reminder of the importance for business to business companies to accept payments online. What if you have a desktop terminal, but staff is working from home? How can accounts receivable be reached for call in or fax payments? Cash flow and efficiency will improve with 24/7 online payments.accept payments onlineTo accept payments online via a self-serve 24/7 online payment form, a payment gateway is required to secure the transaction. The most popular non-integrated methods:

  1. Hosted pay page – merchant provides customers an email or web site link to make payments on the payment gateway hosted web page. Click here for hosted pay page example.
  2. Embedded payment object– the buyer stays on the merchant web site, with the gateway html code embedded as an iframe.

Online Payments FAQ

What is the rate? There are two service types: Payment gateway or bundled gateway with merchant account. For flexibility to change merchant accounts, which most businesses will do every few years, keep your gateway separate to minimize business disruption. When the merchant account changes, there’s no programming needed. Just update the gateway settings with the new merchant account information. Never, ever choose a payment gateway by comparing the cost per transaction. Instead, measure the net transaction cost, including gateway fees, for card types accepted. (Click here for online payments example of authorize.net vs CenPOS for business to business.) B2B companies need a gateway solution that supports level III processing and will help qualify transactions for the lowest rate.

How long does it take to get started? Usually 2-5 days after the decision has been made, from gateway sign up to accepting payments. The actual implementation time is minimal.

How do I know when someone makes a payment? An email is automatically sent with details. TIP: Create an email alias to a distribution list. For example, epay@mydomain.com.

Can my invoices be automatically marked as paid in my accounting software? With an integration, yes. Depending on your software, and the gateway, there may be a module available for quick and easy implementation.

Where can I view transaction reports? By logging in to the virtual terminal via a secure web browser, or in some cases, via mobile app.

Can customers save their credit card information? With most gateways, yes.

Is it PCI Compliant? All the major US payment gateways are PCI Compliant. Accepting payments online can improve PCI Compliance for merchants, as risky practices like credit card authorization forms are abolished.

Can customers pay with an echeck (ACH)? It depends on the gateway.