Category Archives: CenPOS

How to activate level III processing with CenPOS payment gateway

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To activate level III processing from an existing merchant account that previously did not support level III processing, this article outlines the steps.

Both the merchant account processor and CenPOS need to make an update, then merchant switches from level II to level III when ready. The process is usually completed with 1-2 business days, but can take longer.

  1. Level III Merchant Account: Either a new TID* is created, or an existing TID is updated with the appropriate flags turned on. In most cases, a new TID is created so that if there’s an error, the processor can roll back to the old TID. Contact your merchant account salesperson to begin. Depending on the provider, CenPOS boarding team may need to provide guidance on the TID setup.
  2. The processor VAR setup sheet is returned to CenPOS to add to account (boarding), along with desired go live date.
  3. CenPOS switches merchant account to new TID.
  4. Merchant activates level III processing on CenPOS. See video below.

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* TID is an abbreviation for terminal identification. Basically, the TID setup is a set of instructions; i.e. what’s allowed and how it will be communicated

CenPOS Certifies With Wirecard Technologies GmbH

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CenPOS certifies with multi-currency capabilities in card not present and e-commerce environments with Wirecard GmbHlogo cenpos

Miami, FL (PRWEB) February 10, 2015

CenPOS proudly announces it is now certified with Wirecard Technologies GmbH in Germany. This initial certification includes card not present and ecommerce processing. Wirecard is a cross-border acquirer in Europe, Canada, and Asia, providing multi-currency processing capabilities to CenPOS’s customers along with a myriad of alternative payments products. With every certification, CenPOS gets closer to achieving its long-term goal of providing access to its clients to major money center banks and financial networks around the globe.
“Connecting to another world-class financial provider like Wirecard Technologies GmbH is an important objective and another major milestone for CenPOS’s Management Team,” said German Gonzalez Co-founder and Chief Technology Officer. “We continue to work on our strategic initiatives that we firmly believe will yield significant financial results for our clients, our partners and ultimately our shareholders,” added Gonzalez.

About CenPOS

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. For additional information please call 877.630.7960.

### For global sales,  integrations and more information, contact Christine Speedy, 954-942-0483, 8-6 ET.

Signature Capture Terminal for POS & ERP: Fraud Prevention

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ingenico ISC250 & isc350 reset

Ingenico isc250 signature capture terminal.

When a customer is prompted for signature, the transaction is basically over. An authorization has been returned and the signature is for merchant records. As has been reported on 60 Minutes and other media, often cashiers don’t even look at the signature. That’s a mistake.

The signature is critical to merchant defense of disputed transactions.

From MasterCard Transaction Processing Rules, December 2014, “When a signature is obtained as the CVM for a POS Transaction completed with a Card (but not when a Contactless Payment Device is presented), the Merchant must compare the signature on the Transaction receipt with the signature on the Card to determine whether they appear to be the same. If the Merchant believes that the signature on the Card does not match the signature on the Transaction receipt, the Merchant must contact the Acquirer for instructions. The signature would not match if the name appearing on the Card’s signature panel is different from the name appearing on the Transaction receipt (for example, if the Card were signed “Jan H. Hanley” and the Transaction receipt showed “Bob Hanley” or “F. Hanley”). The signature would be acceptable if the Cardholder’s first and/or middle names is abbreviated on the Transaction receipt (such as J. H. Hanley) or if a title such as Mr., Mrs., or Dr. is missing or is included.”

For high dollar transactions, most merchants will run extra security, such as validating the last 4 digits of a card. Often cloned cards will not match the front digits with the magnetic stripe data. Here’s a recommended process to reduce credit card chargebacks for reason “It wasn’t me.”:

  • Cashier asks to see card.
  • Cashier types in last 4 and hold onto card.
  • Customer prompted for signature.
  • Cashier compares signature to actual name and style.  Force Reset and get another signature if not a match. Call processor if unable to match.

Need a solution for signature capture? We offer both integrated and non-integrated solutions, including for Ingenico, Verifone, and Equinox terminals.

CenPOS Signs Exclusive Agreement With Bank of The Bahamas

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Miami, FL (PRWEB) January 28, 2015

CenPOS announced today that it has signed a mutually exclusive processing agreement and acquiring services with Bank of The Bahamas. The agreement covers the entire Commonwealth of The Bahamas and whereby Bank of The Bahamas will promote and rollout CenPOS’ suite of services to the business community throughout the country. These services include Mobile processing, Electronic Bill Presentment and Payment, integrated payment solutions, shopping carts, Point-to-Point encryption, tokenization, recurring billing, and Mobile Wallet. The CenPOS technology solution gives Bank of The Bahamas a significant competitive advantage in the Commonwealth as it covers a myriad of businesses ranging from the smallest to the largest billers in the country. Mobile Payments, ecommerce and Electronic Bill Presentment and Payment being the key drivers of this effort; thus, enabling the bank to easily provide payment acceptance services to merchants in the outer islands while mitigating risk and reducing merchant account acquisition costs.
“The Commonwealth of The Bahamas has one of the largest business communities in the Caribbean region in part due to the fact that The Bahamas is one of the most popular tourist destinations in the Caribbean. Therefore, it made strategic sense for CenPOS to cultivate a business relationship with a local acquirer that shared in our vision and was willing to embrace a technological change to create a difference in the market place,” commented Jorge Fernandez Chairman and Co-Founder of CenPOS. “We wanted to partner with a local Bahamian Bank that understood the local business needs and was willing to create their own blue ocean strategy through the adoption of CenPOS’s technology offering, ultimately making the competition irrelevant in the market place,” added Fernandez.
“Bank of The Bahamas is proud to partner with CenPOS to continue to be the leader in delivering cutting edge technological banking solutions to our customer,” stated Renee Davis, Acting Chief Operating Officer of Bank of The Bahamas.
About CenPOS
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. For additional information please call 877.630.7960.
About Bank of The Bahamas
BOB is a modern, full service bank with 13 branches in seven islands (Nassau, Grand Bahama, Andros, Cat Island Exuma, San Salvador and Inagua) and a long history of firsts in the local Banking Industry. The Bank caters to retail clients from all walks of life providing personal loans and mortgages as well as savings and chequing accounts, term deposits, money transfers, online banking and prepaid cards. Simultaneously, BOB’s Corporate and Commercial Department facilitates the financing and cash flow needs of the premier business establishments throughout the country. Since 2000 BOB’s Private Banking and Trust arm has also provided wealth services (estate planning, trust and corporate services) to local and international clients.

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For sales and software integrations, contact Christine Speedy, authorized CenPOS global reseller. 954-942-0483

How long is a credit card authorization valid for?

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The short answer is, all preauthorizations, expire within 24 hours for swiped transactions and 3 business days for non-swiped card-not-present transactions. Preauthorizations are an ‘open to buy’ hold on a customer credit card. While merchants can still settle transactions after an expired authorization, it impacts fees and chargeback risk from disputes. This answer addresses manufacturers,  distributors, and business to business companies that process orders with future deliveries, some that can take days, weeks, or even months.*

“Authorizations and preauthorizations are commonly misunderstood”, according to Christine Speedy, 3D Merchant sales. “Merchants frequently say, ‘I’ve never had a problem settling a transaction that was more than 5 days in the past’. That’s true, but the downside is cost and risk management. In order to qualify for the lowest merchant fees for any transaction type, merchants must have a valid authorization. Additionally, if there’s a dispute, without a valid authorization, the risk of loss is significantly higher.”

Since it’s inefficient and nearly impossible for merchants to manage identifying when authorizations have expired for open buys, or when related rules change, a rules-based cloud payment system is critical. With automation to manage proper authorization and settlement, merchants will reduce merchant fees with any merchant account, and reduce risk.

CenPOS is a merchant centric payment platform that solves this and other complex credit card processing problems. Sales Christine Speedy 954-942-0483.