Data Breach Reported to Affect Millions of Card Accounts – American Banker Article http://t.co/OvVrdL1j

VeriFone To Make Hay On Pay As EMV Chip Cards Arrive http://t.co/ODbln4gm via @IBDinvestors

The Omni 3750 is a multi-merchant capable machine, often used by businesses that had one account for retail and one for MOTO. Before jumping into the next dial up or even IP multimerchant terminal, it’s time to review the related credit card processing landscape. The primary purpose of separate retail and MOTO merchant accounts has been to help larger merchants qualify for lower interchange levels for each type of transaction. This method has historically been particularly important for wholesale suppliers in the construction industry that have a storefront, plus a base of commercial accounts, most of whom do not pay at the store. Without two merchant accounts, the cost of card not present transactions cost up to 1.05% extra on a retail account.

INTERCHANGE QUALIFICATION CHALLENGE: Proper presentment of transactions regardless of method of entry (key entered or swipe) or card type (different requirements for data to submit). Proper presentment is getting more complex as regulations are changing more rapidly in the past and the card networks & card issuing banks are creating new rules making it harder to qualify for the best rate for any given card type. For example, our internal spring bulletin explaining fee changes was 32 pages long versus a more typical 2-3 pages.

ADDITIONAL CONCERN: New Fixed Acquirer Network Fee (FANF). Visa’s Card Present Fee is fixed based on the number of locations. For Card Not Present (CNP), the fee is based on monthly sales volume, and is much higher than card present. Each merchant account is counted as a location. EMV (contactless) is mandated for all merchants by 2015; Visa is offering incentives to merchants who implement beginning in the 3rd quarter of 2012.

ANALYSIS: It is my firm belief that it will be impossible for merchants as described above to continue to qualify for the best interchange rates with standard dial up terminals because of the continual need to identify needs, update programming and train employees. A manual process just won’t work. As an interchange expert, even I can’t keep up with the rules to manually oversee merchant accounts without an automated system.  A host based solution is the only viable long term solution for merchants who want to control fees.

SOLUTIONS:

If you want to stick with a multi-merchant terminal:

• FD300 TI (PCI) Dual Com, First Data only, $499
• FD300 Wifi (PCI), First Data only, $695
• Other brands may be available, check manufacturer web sites for current models.

For a host based solution:

• CenPOS virtual terminal with automated switching. With a single merchant account, CenPOS will identify the card issuing bank, requirements needed to qualify you for the lowest interchange for that card, and automatically present properly as retail or card present with all the right data. Benefits:

1. Interchange optimized, employee mistakes eliminated
2. Single merchant account- potentially reduce statement fees, regulatory fees, PCI compliance fees, and higher CNP FANF fees
3. Always current with latest federal and state regulations

Limitations:  As of this writing, EMV is not yet approved on CenPOS, but is anticipated by July 1 when Visa’s incentives begin; hardware manufactures are still working out reliability issues with some new models.  In the interim, merchants may wish to use inexpensive secure card readers for low transaction environments, or older model signature capture units that will have to be replaced at a later date.

The Apple iWallet: Why The iPhone 5 Killer Feature is Mobile Payments http://t.co/RhtYCFc8

Law firm web design and legal marketing companies wanted to offer CenPOS payment processing platform to their client portfolio’s. Empower attorneys to accept secure online payments. Your web design firm will obtain the merchant SSL certificate, install it on the server, and add the html for our payment object. The law firm will then be able to accept payments on their web site for outstanding invoices. Additionally, attorneys can accept payments via a single portal via mobile, over the phone or with our EBPP solution, all with a single web portal to view and manage payments and reconciliation.
Benefit to your firm:

• Additional billable hours
• Unique services increase client retention

• Reduce collections
• Improve EBITDA
• Increase efficiencies- automate

The Payment object:

About the payment form: The payment form is created via our paypage admin panel. No html programming is required.

• The look and feel are not customizable at this time, however, as html5 standards are established, we’ll offer that in the future.
• The 3rd column all fields are optional. The merchant can turn on or off and can change the field labels.
• Required fields are determined by the account administrator. You may have different ones than above. This can be changed in admin and the form is automatically updated in real time. Webmaster assistance is not required.
• “office location” in the example above- the field name and drop down options can be modified. In this example, the drop down has different offices, each with their own merchant account. Our system will automatically send payment data to the appropriate merchant account.
• Whatever forms of payments are accepted by the merchant appear graphically in the lower left automatically, including ACH/echeck.
• All data is captured into a database that can be exported into accounting programs.
• The payment object has it’s own embedded SSL, however merchants should have an SSL for their domain that is accepting payments so the lock will appear on customer browsers.

Law Firm Web Designers contact us

Related Articles:
CenPOS Online Payment Solution User Experience for Law Firms

What are steps to get started with CenPOS?

@akrausse Some people are really arguing it will fail? Talk about head in the sand!

Retailers Benefit from Secure Transaction Processing at the Point of Sale

Miami, FL (PRWEB) March 13, 2012

Today, CenPOS, a fast-growing payment processing network, announced that the full suite of CenPOS payment applications has been certified for use with the complete line of Motion® Tablet PCs, attaining Gold Level Partner status in the Motion Valued Partner (MVP) Program. With CenPOS running on Motion Tablet PCs, retailers benefit from a purpose-built mobile computing solution that brings secure transaction processing to the point of sale (POS).

With CenPOS’ powerful payment processing engine and Motion Tablet PCs’ integrated features, such as magnetic stripe reader and digitizer pen input, the partners are creating a seamless POS experience that couples the ability to swipe cards and capture signatures for fast and accurate payments.

“Together CenPOS and Motion are equipping retailers with information and capabilities in real-time that enhance efficiency and productivity as well as employee and customer satisfaction,” said Grant Frederiksen, senior director, strategic corporate alliances, Motion Computing.

“CenPOS is committed to creating efficiency through innovation, and Motion Tablet PCs are the ideal mobile computing solution to utilize our intelligent payment processing technologies,” said Jorge Fernandez, CEO, CenPOS.

Motion Valued Partner Program
The MVP Program is designed to bring purpose-built tablet PCs together with innovative partner offerings to deliver industry-leading mobile computing solutions to business customers. Created to support Motion’s entire partner network – including technology resellers as well as software and hardware providers – the MVP Program provides partners with marketing, sales and training resources to drive sales effectiveness.

About CenPOS

“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.

CenPOS HQ: (305) 630-7960, or toll free: (877) 630-7960.

About Motion Computing

Motion Computing is a leading global provider of tablet PCs and supporting mobility solutions, combining world-class products with services customized for the unique needs of mobile professionals across vertical markets, such as field service, retail and healthcare. The company’s enhanced line of rugged tablet PCs as well as mobile point of service solutions and accessories are designed to increase mobile productivity while providing portability, security, power and versatility.

Web Resources
Motion Tablet PCs: http://www.motioncomputing.com/products/index.asp 
Retail: http://www.motioncomputing.com/solutions/retail.asp
LinkedIn: http://www.linkedin.com/company/12982 
Twitter: http://twitter.com/MotionComputing 
Facebook: http://facebook.com/MotionComputing

Motion Media Contact:
Stephanie Hueter
(512) 637-2745
shueter(at)motioncomputing(dot)com

“Together CenPOS and Motion are equipping retailers with information and capabilities in real-time that enhance efficiency and productivity as well as employee and customer satisfaction,” – Grant Frederiksen, Motion Computing

CenPOS is easy to implement and this overview is for  ’card not present’, or CNP, where the customer is not in the office to make a payment.  Three popular CNP uses are reviewed, including getting started with the virtual terminal, the hub of all payment activity. Additionally, setting up a web pay page and EBPP are included. This overview assumes CenPOS is connecting to your current merchant account.

NEEDS REVIEW: How will you use the many tools available? Who will be the key users?

PAPERWORK:

• Complete the application. Like a merchant account application, CenPOS requires ownership information to meet US Patriot Act requirements.
• IRS W9 form
• Copy of Voided check or bank letter
• Credit card processing is standard. Ask your processor “what front-end are you using for my merchant account?”.  The ‘front end’ is basically a network pipe to communicate.  The answer will be something like– First Data North, First Data South, Paymentech Tampa, Tsys etc.
• Check processing services: Do you need remote deposit capture, check guarantee, check 21, or ACH/echeck? Advise of existing processor & services or new needs.

SET-UP: 1-5 days

• CENPOS: Based on your ‘front-end’ we’ll provide you with a TID (terminal identification) request for your processor and a key contact for your account set up.
•  MERCHANT: Call your agent or the number on your merchant statement for the TID request. TID’s are normally free to set up and your processor will give you a response in 1-3 business days that it’s ready. It may be as simple as an email-  ”TID002 is ready”.
• MERCHANT: Inform CenPOS when TID is ready and forward response sheet if they send you one.
• MERCHANT: contact your bank to have ACH block released for CenPOS monthly  fees.
• CENPOS: Account boarding is completed. Email generated for master administrator. Self-paced training checklist delivered (Exclusively from Christine)
• MERCHANT: Obtain an SSL certificate* if you do not have one and will be using a webpayment page.

MERCHANT FINAL STEPS BEFORE FULL LAUNCH:

• MERCHANT: Process 1 transaction and validate through deposit to bank
• CENPOS: Remotely review (webex or similar) risk management tools with merchant (covers current gap not in online help, but coming soon). Recommended immediately if multiple people will be processing transactions, otherwise can be deferred to a later date.
• MERCHANT: Add additional users to the platform, assign permissions
• MERCHANT: Confirm users have completed training checklist

MERCHANT POWER CENPOS  USERS:

• Login to Dashboard on regular schedule
• Create custom Key Metric Indicator (KEI) reports, with automated email distribution
• Create automated real time alerts for various transaction types (risk management, customer satisfaction/dissatisfaction)