CenPOS, a fast-growing digital payment processing technology provider, has received certified status with T Tech, First Data Merchant Services and Vantiv. These industry certifications allow CenPOS to provide a robust array of payment solutions the company offers its clients.

Miami, FL (PRWEB) January 02, 2012

CenPOS, a fast-growing digital payment processing technology provider, has recently received certified status with T Tech and First Data Merchant Services; CenPOS recently received certification from Vantiv. These latest industry certifications place CenPOS in the technological forefront of the ever-changing payment process ecosystem and provide a robust array of payment solutions the company offers its clients.

T Tech Certification
T TECH offers a full suite of electronic check processing, check guarantee and ACH services allowing clients to streamline their processes and maximize their resources. As a result of the T TECH certification, CenPOS that will now be able to support both Check 21 and ACH transactions.

First Data Merchant Services Certification
First Data Merchant Services (FDMS) Certification to allows CenPOS the ability to support additional transactional sets. CenPOS is now able, through this certification to FDMS’ Nashville platform, to complete partial authorizations on prepaid cards, full authorization reversals on both debit and credit, and complete debit returns.

In April 2010, the Card Association mandated that acquirers must process partial authorizations and real- time reversals. Partial authorizations allow consumers with prepaid cards to zero out the balance on their cards. Real-time reversals require that merchants close out any pending authorization within a specific amount of time depending how the transaction was conducted.

About CenPOS
http://www.cenpos.com/
“Creating efficiencies through payment innovation”

Founded in 2009, Miami-based CenPOS is a payment technology provider. CenPOS is committed to providing its customers and partners with innovative solutions for today’s rapidly evolving consumer payment choices.

CenPOS is an intelligent payment-processing network that streamlines the payment experience for businesses and consumers by using state-of-the-art technology to replace inefficient, outdated payment systems. The network reflects the core values that drive the experienced and innovative CenPOS team: Simplicity, Scalability, Security and a holistic approach to payment processing strategies.

CenPOS provides solutions to a range of organizations including but not limited to retail, card not present merchants, automotive dealers, professional services and academic institutions; special programs are also available for non-profits. Call us: (305) 630-7960, or toll free: (877) 630-7960.

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EDITORS NOTE:

  Call 954-942-0483 to reach Christine Speedy, CenPOS Global Sales

More CenPOS resources:

Youtube.com/3dmerchant
3Dmerchant.com/blog/category/cenpos/
CenPOS.com

1. How will your virtual terminal help my business manage credit card processing fees?
2. How long is transaction data stored for?
3. Can I perform a zero dollar authorization to see if card is good and then bill my client later?
4. If I want to also accept payments with a card reader, including on a cell phone, will I get retail interchange rates?
5. What happens if a card on file is expiring?
6. Do you accept credit and debit cards and checks?
7. If I change vendors, can I extract stored payment data?
8. Can I block prepaid debit cards?
9. Can I store both credit/debit and check data, for variable amount recurring billing?
10. How will you protect my company from internal fraud?

Our own answers using the CenPOS Virtual Terminal:

1. CenPOS helps your business manage credit card processing fees with proprietary patent pending least cost routing and interchange optimization technology. The CenPOS VT isn’t just a web page with fields to fill in. It’s the hub for all payment entry points whether mobile, retail, ecommerce, or web. It’s an intelligent switch that makes decisions on the fly for you, removing people, software, and hardware limitations and errors from affecting your payment processing costs. Other virtual terminals have fixed fields to fill in. CenPOS data fields appear and disappear based on many factors, including how the payment information is being received, and  fraud control settings you manage.
2. All data is store for 7 years.
3. Yes, CenPOS supports zero dollar authorization; check with your processor to make sure they support it.
4. Yes, CenPOS proprietary switching technology automatically presents the correct data required to qualify for the best card not present or retail interchange rates. Additionally, this switching mitigates dispute risk by collecting and storing signatures, if required. If you offer pin debit, CenPOS will automatically prompt the consumer for their pin number, converting 76% vs national average under 25% in 2010. ALERT: if your business is mostly card not present, and you add a phone with credit card reader, for most virtual terminal solutions, you’ll have the signature as a benefit for sale, but unless you get a separate retail merchant account, you’ll still pay MOTO rates (card not present), which can cost 1% more.
5. CenPOS will automatically notify customers with an email address on file beginning 60 days prior to expiration. Merchants can also see a list of expirations, dynamically sort/search them, and even export them if desired.
6. Yes, CenPOS supports almost any payment method. CenPOS is future proof and will support all new payment types. Updates are virtually every month with no disruption to merchants or added costs.
7. No, you cannot extract stored payment card information. CenPOS is a PCI Compliant solution that uses both encryption and tokenization for maximum protection. If you can extract it, can the data really be that safe?
8. Yes. Membership, installment, and recurring billing merchants usually need this feature.
9. Yes. You can even print out a form with the merchant token ID and the last 4 digits that the customer can sign- replaces faxed forms with exposed card data.
10. There are numerous ways CenPOS protects merchants from internal fraud, a rising crime problem that often goes unnoticed for years, especially when a trusted, high-level employee is involved. In addition to micromanaging user permissions, and what types of transactions are even allowed, merchants can create real-time automated alerts. Additionally, the report writer provides endless opportunities for multiple executive staff member notifications of any payment aspectyou wish to track. For example, a daily email with all refunds, with credits without offsetting debits, with daily sales, with all refunds over a certain dollar amount, or with all refunds by specific employee.  By controlling access permissions, and how data is delivered, you can eliminate number fudging by a crafty employee.

    

From the Retail Payments Risk Forum December 5, 2011, The future of mobile payments is explored. Although mobile payments have been much slower to develop in the United States than many industry observers had predicted, there have been a number of encouraging recent developments. Starbucks, for example, has processed more than 20 million mobile payments since launching its app, and the Chicago Transit Authority’s new fare collection system will be able to accept mobile payments starting in 2013. Still, despite these small successes, the United States has not seen the mobile phone really take off as a vehicle for point-of-sale payments.

The Retail Payments Risk Forum recently interviewed David Evans, a payments industry consultant and the founder of Market Platform Dynamics, in a podcast exploring some of the challenges facing widespread mobile payments adoption. Evans maintained that a couple of obstacles have kept mobile payments from taking off in the United States. “Barrier number one is that there is not a very persuasive mobile payments alternative for consumers to use at the point of sale, and the second is that there’s really not the technology at the point of sale capable of processing a mobile payments-type transaction.”

In addition to these barriers, he said, is the simple fact that most consumers are satisfied with the way things are. Evans explained, “I can pull out a credit or a debit card at the point of sale, I can swipe it, and it works beautifully. Takes about a second. No fuss, no muss—the clerk knows what to do. The technology is all there. So we have this wonderful system that works really well right now that’s extremely efficient.” To change the status quo, a compelling value proposition must emerge for all parties. “Someone’s going to have to come up with a really great alternative that adds value to the merchant and adds value to the consumers to make both of them want to do something different than [what] they are currently doing,” said Evans.

Regarding the prospects for mobile payments outside the United States, Evans said, “I think that where we are going to see mobile payments take off around the world is primarily in countries that do not already have a very well-developed payment card industry with acceptance at the point of sale and that have very well-developed mobile phone systems.”

The role of different types of market players has been a major source of debate among those forecasting mobile payments. Many disagree how the mobile carriers, such as Verizon and AT&T, will fit into the new landscape. Evans predicted that “the likely role of the carriers in payments is basically being a pipe.” He stressed that mobile carriers do not have the expertise to operate mobile payments and are more likely to become pipes for others who will develop mobile payments alternatives.

When asked about his predictions about the type of technology that will ultimately support mobile payments, Evans said that it was still too early to know. However, he did say that “it’s really the solution that is going to drive the adoption of a particular acceptance technology at the point of sale, rather than the acceptance technology driving the solution.” There are clearly still a lot of unknowns with regards to mobile payments, and Evans wisely concluded that “we should talk about this in 10 years when we may actually know the answer!”

By Jennifer C. Windh, a payments risk analyst in the Retail Payments Risk Forum at the Atlanta Fed

CenPOS minimizes disruption for businesses in transition. When you sell your business, the acquirer will open a new bank account, new merchant account, and new check processing account among other tasks. This creates major disruption for business continuity. But there is a way to avoid this if you are a CenPOS user.

CenPOS is a universal payment processing platform, enabling you to accept payments from multiple sources and connect to various processors. Part of business valuation is the ability to maintain continuity after the sale. CenPOS provides an infrastructure for payment acceptance that includes sales records, employee performance, channel performance, reconcilation, interchange optimization and risk mitigation. Automating processes is key for continuity and CenPOS delivers.

Here’s how easy it is:

• If the seller agrees, the acquirer will enter into a new CenPOS agreement that provides the acquirer access to the existing CenPOS account and all it’s history, providing invaluable business insights for sales, HR, and marketing, as well as no disruption in daily sales procedures.  Up to 7 years CenPOS merchant data is available on demand.
• If the seller agrees to the above, changing processors is as simple as updating account numbers in the CenPOS merchant administrator.  All operations continue as usual.
• Note, if in a retail environment, when the acquirer changes credit card processors, all pin debit equipment must be injected with the new processor encryption key.

Become a CenPOS customer today, and you may improve your business valuation at a later date.

@EDInomics horrifying. I commend Johnson for having a global standard.

CenPOS – CenPOS Mobile app in itunes – http://t.co/SnJ9RDrn #iTunes

CenPOS, an innovative payment processing platform and gateway, now supports Ingenico Telium based terminals. The new Telium line replaces the popular Ingenico i3070 and i65xx, including the i6580, which are are approaching their end of life cycle.  The Telium based terminals support various forms of multimedia and have a vibrant display that can be used for flashing advertisements and other forms of messaging at the point of sale.

Looking forward to future payment acceptance methods, including NFC, the Telium series supports:

• Smart card reader
• Magnetic card reader
• Contactless reader

CenPOS Supported Telium terminals:

iSC250/350 http://www.ingenico-us.com/isc350-isc350_28.html?lg=US&productId=150

Ingenico isc350

iPP320/350 http://www.ingenico-us.com/ipp300-series-pin-pad-ipp300-series_28.html?lg=US&productId=156

The i6560 and i6580 are all-in-one terminals. The pin pad is built into the device. The pin pad is a separate device for this new solution. There are pro’s and con’s to the two piece, but in a busy retail environment, the benefits outweigh a single piece by far.

• Every retailer can probably recall a time where their terminal pin encryption was blown due to power surge or other reasons. Because the injection can only be completed at an approved secure facility, this meant sending out their entire unit for a period of time for repair.  That’s an expensive asset to have out of commission. Now merchants can simply send the pin pad out for repair.
• When a merchant changes payment processors, they need a different pin injection. The two piece solution enables merchants to send out the pin pads for injection without shutting down operations, providing more long term flexibility.

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3D Merchant Services provides terminals at wholesale prices to all CenPOS clients.

About CenPOS : “Creating efficiencies through payment innovation”Founded in 2009, Miami-based CenPOS is a payment technology provider committed to providing its customers and partners with innovative solutions for today’s rapidly evolving consumer payment choices. CenPOS is an intelligent payment-processing network that streamlines the payment experience for businesses and consumers by using state-of-the-art technology to replace inefficient, outdated payment systems.

CenPOS sales: Christine Speedy direct (954)942-0483, HQ (305) 630-7960, or toll free: (877) 630-7960.

This graphic table illustrates some of the key differences of CenPOS vs Authorize.net. Using a Catholic High School for items needed, CenPOS crushes the gateway competition and it’s easy to see why schools are flocking to CenPOS.

There’s no question that Authorize.net is a solid product from a reputable company. I’ve actually recommended and used them for over a decade. However, for years they failed to innovate and CenPOS provides better value in every key area, including automated recurring billing. Authorize.net only just entered the multi-payment source market, primarily through acquisition and tying different products together, whereas CenPOS was designed from the ground up to support all payment methods. This is key to why CenPOS is much more flexible to be customized and deliver real-time data that merchants  need to increase efficiencies in operations.