Category Archives: industry news

credit card processing and merchant payment industry news including VISA & MasterCard association news, interchange rates, risk management and retailer security requirements

CardinalCommerce Wins Ohio Venture Association 2016 Venture of the Year Award

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CardinalCommerce, a global leader in enabling authenticated payment transactions in the card-not-present payments industry, announced the company won the Ohio Venture Association 2016 Venture of the Year Award presented in Cleveland on June 9.

Cleveland, OH (PRWEB)June 15, 2017

CardinalCommerce, a global leader in enabling authenticated payment transactions in the card-not-present payments industry, announced the company won the Ohio Venture Association 2016 Venture of the Year Award presented in Cleveland on June 9.

The Ohio Venture Association is a network of northeast Ohio business professionals dedicated to providing an atmosphere encouraging the exchange of ideas on entrepreneurship. The winning venture, selected by the Board of Trustees of the Ohio Venture Association, highlights successful entrepreneurial activity in Ohio.

Nominees included any company that has closed at least one round of professional capital during the previous calendar year or successfully exited via buyout or IPO. Cardinal was acquired by Visa earlier this year to help Visa’s clients and merchant partners accelerate digital commerce. The company continues to operate and serve all of its clients as a wholly-owned subsidiary of Visa, and its authentication platform will continue to support a broad range of payment brands and partners across the industry.

“We are both proud and humbled that the Ohio Venture Association chose Cardinal for this award,” said Tim Sherwin, co-founder and CEO. “Our team is proud to be recognized for our dedication to fostering business growth in the community in which we operate.”

About CardinalCommerce
CardinalCommerce is a global leader in enabling authenticated payment transactions in the card-not-present payments industry. Through One Connection to the proprietary Cardinal SafeCloud, the company enables friction-free, technology-neutral authentication and alternative payment services (including digital wallets and mobile commerce services). Cardinal services, partners with and complements most providers in the marketplace to deliver their One Connection solution to secure transactions. In accommodating this growing number of payment brands and methods, Cardinal’s platforms serve as universal switches, supporting virtually all merchant platforms, wallets, legacy processing systems and authentication methodologies.

CardinalCommerce is a wholly-owned subsidiary of Visa, and is headquartered in Cleveland, Ohio. Cardinal services a worldwide Customer base from facilities in the United States, Europe and Africa. For more information, visit http://www.cardinalcommerce.com.

American Express SafeKey Video and B2B tips

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American Express SafeKey® leverages the global industry standard, 3-D Secure®*, to detect and reduce online fraud by adding an extra layer of security when Card Members shop online. Merchant and customer experience answers in this article.

American Express SafeKey

 

How does Amex SafeKey impact the customer shopping experience? The cardholder may have some or no difference in the checkout experience, based on many factors, including prior online shopping history. The cardholder may be asked authentication question(s) to confirm it’s really the cardholder.

How does Amex SafeKey impact merchants?

  • Fraud liability for “It wasn’t me, I didn’t authorize it” goes away as liability shifts back to the issuer.
  • For business to business, where cardholder billing and shipping address frequently vary, cardholder authentication plays an important role not available with four digit CID security code validation only.
  • At this writing, American Express merchants do not receive a specific interchange discount as may be available with other card brands.

How can merchants adopt the Amex SafeKey service?

  1. Enroll your company on the American Express web site. https://network.americanexpress.com/globalnetwork/safekey/us/en/merchants-acquirers
  2. Receive e-mail from SafeKey Certification Team with your SafeKey ID and next steps.
  3. SafeKey Certification Team gets approval from Acquirer.
  4. Acquirer and SafeKey Certification Team complete required setup.
  5. Activate 3-D Secure on the application. (Ecommerce shopping cart, payment gateway, or ERP.) Both payment gateway and application must support the service.

* 3-D Secure is a registered trademark of Visa International Service Association in the United States and other countries.

Have a question about how to add to your business? Contact CenPOS global sales and integrations reseller, Christine Speedy, 954-942-0483 for more information.

CDK Global to Acquire Auto/Mate Dealership Systems

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Advances CDK’s Commitment to Dealers. Brings Advanced Technology Solutions to More Dealers for a Better Consumer Experience.

HOFFMAN ESTATES, IL, May 24, 2017 – CDK Global (Nasdaq:CDK) and Auto/Mate Dealership Systems today announced that they have entered into a definitive agreement whereby CDK will acquire Auto/Mate, a privately held company that provides a suite of DMS (Dealer Management Systems) products and solutions to over 1000 new car dealership sites.

CDK plans to integrate the Auto/Mate DMS into its product lineup to better address the full spectrum of dealership needs, providing dealers with the choice and flexibility to combine the Auto/Mate DMS product offerings with fully integrated access to the CDK solution suite.

“This planned acquisition reinforces CDK’s commitment to dealers, regardless of size, by offering a broad range of products designed to improve dealership returns and the consumer experience,” said Brian MacDonald, president and CEO of CDK Global. “Auto/Mate’s products are a natural fit with CDK solutions and provide an intuitive, flexible and fit-for-purpose DMS solution that will offer strong value to dealerships.”

“My team and I are looking forward to working closely with our new and existing customers to deliver solutions that will provide them with numerous operational benefits, including speed, efficiency, and flexibility in managing their businesses and serving their customers,” said MacDonald.

“I am confident the traditions of unparalleled customer service and ever-evolving technology that Auto/Mate customers have grown to expect will continue under CDK, and we are excited for the new opportunities that the combined companies will provide to help our customers succeed,” said Mike Esposito, president and CEO of Auto/Mate.

The transaction has been approved by each company’s board of directors and is subject to customary closing requirements and regulatory approvals. The transaction is expected to close later this summer. Terms of the transaction were not disclosed. Presidio Technology Partners is acting as exclusive advisor and McNamee, Lochner, Titus & Williams, PC and Jenner & Block LLP are serving as legal counsel to Auto/Mate in the transaction.

About CDK Global

With more than $2 billion in revenues, CDK Global (Nasdaq: CDK) is a leading global provider of integrated information technology and digital marketing solutions to the automotive retail and adjacent industries. Focused on evolving the automotive retail experience, CDK Global provides solutions to dealers in more than 100 countries around the world, serving more than 27,000 retail locations and most automotive manufacturers. CDK’s solutions automate and integrate all parts of the dealership and buying process from targeted digital advertising and marketing campaigns to the sale, financing, insuring, parts supply, repair and maintenance of vehicles. Visit www.cdkglobal.com.

About Auto/Mate

Auto/Mate Dealership Systems is a leading provider of dealership management system (DMS) software to retail automotive dealerships, typically saving dealers thousands of dollars per month from their current provider. Our Automotive Management Productivity Suite (AMPS) is a user-friendly, feature-rich DMS in use by more than 1,200 auto dealers nationwide. Auto/Mate has received DrivingSales Dealer Satisfaction Awards in 2012, 2013, 2014, 2015 and 2016. Auto/Mate has approximately 180 employees and is based in Albany, NY.

Auto/Mate’s employees have more than 1,000 years of combined experience working in franchised auto dealerships, the foundation of its “Designed By Car People For Car PeopleTM” slogan. Auto/Mate is committed to winning its customers’ business each and every month with no long-term contracts and free software upgrades. For more information follow us on Twitter @AutoMateDMS and subscribe to our blog at www.automate.com/blog.

CenPOS Announces its Relationship Renewal with Verifone and the MX Line

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CenPOS renews their relationship with Verifone and MX link by purchasing 5,000 Verifone MX 915 devices.

Miami, Florida (PRWEB) May 10, 2017

Integrated payment services and gateway provider, CenPOS, purchased 5,000 Verifone MX 915 devices and is deploying point-to-point encryption and advanced data security to auto dealers of all sizes, higher-education, law firms, insurance, manufacturing and distribution.

CenPOS SECURE is a suite of solutions designed to remove sensitive cardholder data from software applications like the merchant’s primary ERP, POS, PMS, DMS, etc. The suite consists of point-to-point encryption, tokenization and encrypted virtual PIN Pads that protect software systems by securing data in-flight and at rest.

When using CenPOS SECURE, merchants can reduce the time requirement and scope of their PCI DSS assessments. The Verifone MX line of products encrypts data at the point of interaction and facilitates a robust shopping experience for the consumer that includes secure PIN entry and signature capture.

“Merchants have enjoyed the CenPOS omni-channel shopping experience and the security that comes from it for the last 8 years. Verifone’s platform was the right choice for CenPOS. Their team of professionals have worked well with CenPOS to incorporate the next level of data security into the solution,” said Christopher Justice, CEO of CenPOS. “We’re pleased with the collaboration and diligence of the technology teams to launch these advancements.”

The Verifone MX line of products provides solid capabilities at the point-of-sale. Its design and attractive styling deliver a comfortable checkout experience while the state-of-the art technology provides added security.

“As a global payments and commerce solutions provider, Verifone’s goal is to create a world-class platform capable of supporting the ingenuity that’s constantly shaping the future of commerce. In a shared effort with CenPOS, we work to bring the highest level of security to transactions,” said Joe Mach, President, Verifone North America.

CenPOS Secure protects card present, eCommerce, mobile, mail order/phone order, and portable device transactions at the point of interaction with multiple layers of security. Integrated into the merchant’s software applications, no sensitive data is ever processed nor stored by those applications eliminating them from the scope of PCI DSS.

To better understand how CenPOS SECURE can help your business, call 877-630-7960 Or visit our website.

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.
| CenPOS | @CenPOS

About Verifone:
Verifone is transforming everyday transactions into opportunities for connected commerce. We’re connecting payment devices to the cloud—merging the online and in-store shopping experience and creating the next generation of digital engagement between merchants and consumers. We are built on a 35-year history of uncompromised security with approximately 30 million devices and terminals deployed worldwide. Our people are trusted experts that work with our clients and partners, helping to solve their most complex payments challenges. We have clients and partners in more than 150 countries, including the world’s best-known retail brands, financial institutions and payment providers.
Verifone.com | @verifone

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Blog author Christine Speedy, CenPOS global sales and integrated solutions, can be reached at 954-942-0483.

Credit Card Testing Explosion Hurts Merchants Profits

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If you accept payments online, have you hardened security to protect from card testing? Card testing is a big criminal business. They’re sophisticated and use hardware and software that can send thousands of stolen credit card data in less than an hour to your payment portal or ecommerce shopping cart before you even know you’ve been hit.

Brute-force authorization attacks can be very expensive for merchants. For every attempted authorization, merchants pay a payment gateway fee, plus a fee to the merchant services processor (acquirer).

Example:

  • $.30 per transaction gateway
  • $.10 per transaction processor
  • 20,000 cards tested @$.40= $8,000

There’s no getting back the $8,000. The gateway and processor passed the data you gave them. In the event orders are approved, there’s the additional cost of lost product shipped and the associated chargeback fee. Then there’s the cost of damaged brand reputation from cardholders who voice on social media, where it lives on forever, how their card was used unauthorized.

How can merchants protect online payments from card testers?  Google reCAPTCHA is a free service that protects your website from spam and abuse. reCAPTCHA can prevent bots from submitting a transaction that you’ll pay for. For most shopping carts, it’s the payment gateway that must support reCAPTCHA. If the integration does not include reCAPTCHA or similar service, merchants might want to review if their gateway is compliant with current rules acceptance in general.

Protecting against both bots and fraudulent transactions is tricky.

Fifteen percent of all cardholders have had at least one transaction unnecessarily declined in the previous 12 months, according to a 2015 study by Javelin.

Unnecessary declines are also called False Positives. Cardholder authentication is a layer of security to protect against fraudulent purchasing, increasing approvals and reducing False Positives. 3-D Secure is a global XML protocol for Cardholder Authentication; The card brands each has their own name- Verified by Visa, Amex Safekey, MasterCard SecureCode. Benefits of 3-D Secure include automation, shifting liability to card issuers without manual review of orders, increased approvals, and sometimes reduced Visa and MasterCard interchange fees.

Which payment gateways support recaptcha and Cardholder authentication?

reCAPTCHA is easy to implement, just check with your payment gateway provider or web developer. 3-D Secure is quick, easy and requires a few steps:

  • Confirm your payment gateway is 3-D Secure certified for your credit card processor (merchant services provider or acquirer). Ask which are certified: Verified by Visa, Amex Safekey, MasterCard SecureCode. Some have certifications, some don’t.
  • If there’s an application such as a shopping cart or e-invoicing, confirm the payment gateway integration will support 3-D Secure.
  • Contact your acquirer and ask them to register your merchant account for 3-D Secure. Some can, some can’t. It’s usually done in a day.
  • Turn on 3-D Secure in the payment gateway.

FAQ

Is there a cost for reCAPTCHA? No, it’s free from Google. If your payment gateway supports reCAPTCHA, it may just need to be activated on your account, no programming needed. Contact your payment gateway support or check their FAQ to find out.

Is there a cost to register for 3-D Secure? That’s up to the individual company doing the registration. Costs start at $0.

Is there an ongoing cost to use 3-D Secure? Yes, and it’s up to the individual company offering the service. Costs typically range from $.075 to $.30 per attempted authorization.

If hit by a card tester, can I negotiate to reduce fees? It’s unlikely because services were delivered as per your agreements.

Christine Speedy, authorized CenPOS reseller, provides universal payment processing solutions, including reCAPTCHA and 3-D Secure cardholder authentication, to maximize merchant profits and mitigate risk across multiple sales channels. Contact Christine at 954-942-0483.