Dynamics AX Credit Card Processing Alternatives 2017

Need a solution to process credit cards for Microsoft Dynamics AX 2012? Whether replacing Microsoft Dynamics ERP Payment Services due to end of life announcement, or looking for an alternative to Red Maple Advanced Credit Cards, Christine Speedy has a solution to delight your customers and make your business more profitable virtually overnight. It’s wrong to thing big name gateways are compliant with your B2B payment processing needs. If that were true, our solutions would not exist.

Dynamics AX Credit Card Processing Critical Features Checklist:

  • Customer managed wallet from the very first sale, including before payment is needed. Must eliminate need for paper or digital credit card authorization forms with card data in the clear!
  • No 3rd party applications needed to get paid from invoice; automate journal entry updates. (Eliminate BillTrust and similar.)
  • Communicate the way your customers want, both text and email.
  • Automate rate qualification. A payment gateway with Level 3 processing is not enough; merchants can only qualify for level 3 (corporate, purchasing, business card) interchange rates if all the rules are met. The two most common rules B2B businesses struggle with are “Settlement within 72 hours” for card not present sales, and “Authorization amount and settlement amount must be equal”. CenPOS automates compliance, most gateways cannot.

    interchange rate qualification

    The same transaction can process at different rates, depending on which rules you follow.

  • Compliance with Visa Stored Credential Transaction framework and mandates effective October 14, 2017. Merchants need record of customers opt-in to storing and use of the stored card terms and conditions, among other items. For example, a checkbox. There are many nuances including identifying merchant initiated vs customer initiated. CenPOS automates compliance, most gateways cannot.
  • 3-D Secure cardholder authentication- increase approvals, shift fraud liability risk, and for some card types qualify for reduced interchange rates.
  • Virtual Encrypted Keypad – segment your network, software and devices from payment processing for reduced PCI Compliance scope and burden.
  • Accept payments wherever you need in AX- free text, sales orders, payment journals and more.

Improve Efficiencies, Cash Flow, Customer Experience:

  • Invoice delivery via text and email
  • 2-clicks to pay for repeat customers
  • Customer managed wallet for payment methods.
  • Invoice portal – on demand access 24/7 to view and pay invoices
  • Automated collections reminders to pay

AX Solution for all payment types:

  • ACH and check, with and without guarantee.
  • Wire- eliminate inefficiencies matching deposits to invoices and returning unidentified wires.
  • Credit card
  • Paypal and more

Depending on your current AX set up, businesses can be live in less than 2 days.

Christine Speedy, CenPOS authorized reseller, 954-942-0483. B2B cloud payments solutions and CenPOS enterprise cloud payment solutions expert. 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.

Best Quickbooks Credit Card Processing – Card Not Present 2017

Due to new credit card processing mandates effective October 14, 2017, business to business merchants especially need to review practices for card not present transactions. Compliance will boost profits and improve customer experience; non-compliance will increase costs, penalty fees and customer dissatisfaction. Our Quickbooks plugin for all desktop and enterprise versions (except Quickbooks Online) eases the burden of compliance, while improving customer buying experience, cash flow and profits. For business to business (B2B), we have the best solution.

Card Not Present Credit Card Processing Rules & Guidelines:

  1. Never store full card data on paper or digitally.  If you can retrieve it, so can a criminal. Merchants are never, ever allowed to request the security code (Visa Core rule 5.4.2.5) on paper, or via digital methods such as email or text. Paper credit card authorization forms as well as digital signature forms that can be unencrypted to view sensitive cardholder data are prohibited. We fix this problem by delivering electronic invoices and empowering customers to self-store payment methods.
  2. When first storing a credit card, perform a Zero Dollar Authorization with the correct transaction type flag. This process is managed seamlessly in the background if supported and enabled by the payment gateway.  (TIP: Some solutions perform a $1 authorization and then void the transaction- this is non-compliant.) We automate this this process in full compliance.
  3. Perform Cardholder Authentication. The two authentication options are card security code and 3-D secure, such as Verified by Visa. The latter is a global standard that requires the cardholder self-initiate payment, a more secure solution; Merchants using 3-D secure benefit by increased sale approvals, fraud liability shift to issuers, and for some cards, lower rates.
  4. When first storing a credit card, have your customer opt-in via a manual checkbox to return and cancellation policies.
    hosted online paypage

    Hosted online pay page, partial screenshot

    If your gateway does not include this option for customer initiated checkout, including paying invoices, it’s an easy way to identify your payment gateway is not compliant with new rules yet.

  5. Use a payment gateway that supports new authorization rules, including stored card pre-authorization, incremental authorization, final authorization, authorization reversal, partial authorization reversal, and credit authorization.initial authorization

Both the payment gateway provider and processor must support 3-D secure and zero dollar authorization.

Alternative Quickbooks Credit Card Processing Module- features for card not present:

  • EBPP- Electronic Bill Presentment and Payment to send invoices and accept ACH/eCheck, credit card, wire, Paypal
  • Customers self-manage payment methods
  • Unscheduled charge card on file supported
  • 3-D Secure and additional security tweaks
  • Customer portal for 24/7 invoice retrieval and payments
  • Deliver invoices via text and email
  • Automated collections reminders
  • Opt-in checkbox with custom text
  • Optional custom fields
  • Works with all the acquirers, including First Data, Paymentech, Heartland, Global Payments, Elavon, TSYS, Moneris etc.
  • Level III 3 processing supported for reduced merchant fees when applicable for purchasing, business and corporate cards.
  • Smart Rate selector optimizes transactions for lowest qualified rate

Want the best Quickbooks credit card processing plugin for your B2B business? Contact Christine Speedy today for a virtually instant ROI, maximize profits and cash flow while improving your customer buying experience. Quick and easy to adopt, you’ll wish you had found this solution sooner.

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.

Steps to Reduce Credit Card Fraud For Distribution Industry

dealer fraud credit card processingCredit card fraud is still rampant in the US, even after US EMV liability shift convinced many merchants to purchase terminals to support chip cards. Marine, auto, and other high value parts dealers have long had a problem mitigating fraud risk with local and international parts.

  1. For card not present orders, require self-pay with cardholder authentication. Taking cards over the phone, and or requiring a credit card authorization form, will not protect against all forms of counterfeit card fraud. However, consumer authentication shifts liability back to the issuer; the issuer guarantees payment, and because it’s lower risk, dealers can qualify for lower interchange rates, the bulk of merchant fees. Online payment, ecommerce payment, and electronic bill presentment and payment are the 3 methods dealers can use to enable self-payment.
  2. For retail orders, EMV is mandatory. Not by regulation, but by necessity. If a chip card is presented, and merchant supports, they’re 100% protected from counterfeit card fraud, and sometimes lost or stolen cards; if not supported by the merchant, the merchant can be automatically charged back at the issuers discretion and there’s no dispute process for merchants.
  3. Check guarantee. Whether in person or via echeck, check guarantee services are only good if they don’t reject your checks later on. Surprisingly (or maybe not), some services seem to look for ways not to approve your claim, such as information is missing from checks. This can be avoided with technology that forces users to collect the right data, including for remote self-payers.

If all of the above are implemented, dealers are protected from virtually any type of credit card fraud. The following tips will help prevent other types of lost disputes, or serve as supporting documentation if not all the above are implemented.

  1. Get a signed sales order. This can reduce non-fraud claims related to disputes about what was expected. The sales order should clearly state what was sold, refund policy, and cancellation policy, or refer to another document that specifies the information, but is initialed acceptance on the sales order.
  2. Ship to cardholder billing address. If not possible, then get cardholder approval that states bill to and ship to address are different, and they’re approval.
  3. Require all communications to cardholder business email address if selling wholesale. Free email like gmail is not OK.
  4. Require cardholder respond from business email address approving transaction receipt. This is a strong document in the case of a dispute for “I didn’t approve it”, especially when a third party is picking up the part from the dealer.
  5. The marine, automotive and other distribution companies are hit particularly hard with non-qualified transaction penalties when shifting between retail, key entered, and online payments. It’s critical that transactions are presented properly not only to qualify for lower rates, but to protect against lost disputes that require specific evidence for each type of transaction.

Not related to security, but critical for interchange rate qualification, the bulk of credit card processing fees, all services (retail, MOTO, ecommerce) should support level III processing.

In summary, dealers need US EMV and cardholder authentication to maximize risk mitigation from credit card fraud. US EMV requires terminal certification, and gateway certification* to your merchant account provider. Cardholder authentication requires a payment gateway certified for the service.  There are very few companies that meet all these requirements so if your credit card processing salesperson gives you a blank stare when you ask, it’s time to explore other options.

*A payment gateway certified for level III retail to your acquirer is required; countertop terminals are incapable of sending level III data.

3 Profit Boosters for Lumber, Building Materials, Distribution Companies

Lumber, building materials, and distribution companies increase profits and cash flow almost instantly with these credit card processing and accounts receivable tips.

  1. Use a credit card processing solution that supports level III processing for retail. Prior to the October 2015 EMV liability shift, there were more companies that offered this, but today, to my knowledge, we offer the only solution that has both US EMV and level 3 retail certification.
    level 3 processing interchange rate

    Sample interchange rates for the same credit card transaction; Failing to qualify for level III is costly.

    Benefit: Potential 1% or more profit margin increase.  TIP: No countertop credit card terminal supports level 3 due to the data that must be sent with transactions; no bank currently offers a level 3 retail solution with US EMV. A cloud-based payment gateway is required.

  2. Ensure key entered transactions are sent for authorization with the MOTO (mail order, telephone order) transaction type indicator. If not, the transaction will default to the highest ‘non-qualified’ interchange rate possible for the card type, and in the event of a dispute, merchant must be able to produce a signed receipt.  TIP: Never key enter on a countertop terminal since it is set up for RETAIL. VX520 emv NFC verifone terminalThe best solution manages proper presentment for processing automatically so employees don’t need to understand the nuances of the best way to process any transaction to qualify for lower rates or mitigate risk.
  3. Enable online payments, with level III credit card processing. By empowering customers to pay 24/7, they’ll pay faster to clear up credit lines to buy more. Also, with cardholder authentication, payment can sometimes be guaranteed against fraud and qualify for even lower interchange rates due to lower risk; key entered transactions carry more risk and while risk can be mitigated, payment is not guaranteed. Accepting alternative methods like ACH, wire, and Paypal will also reduce friction, increase efficiency and increase cash flow.