Category Archives: Payment Gateway

3dcart and CenPOS Payment Gateway Partner To Grow B2B Vertical

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Miami, FL April 23, 2018. The business-to-business (B2B) e-commerce sales channel presents new opportunities and challenges, particularly with increasingly complex credit card processing requirements. 3dcart, a leading e-commerce platform, has partnered with CenPOS, an integrated technology commerce platform. The CenPOS ‘Super Payment Gateway’ maximizes profits while mitigating the higher dollar value transaction risk in the B2B vertical.

Payment gateways directly impact the cost of credit card acceptance, including interchange fees, the bulk of merchant fees. The CenPOS 3dcart integration offers all the required elements to qualify B2B transactions for the lowest rates possible, including:

  •  Level 3 data for purchasing, corporate and business cards
  • Resolve authorization and settlement amount mismatch
  • Visa unscheduled, recurring, and installment stored credential mandate compliance
  • 3-D Secure – Verified by Visa, MasterCard SecureCode, American Express Safekey and Discover ProtectBuy

“Our first mutual customer reduced fees over 30% just by changing their payment gateway,” commented Christine Speedy, CenPOS sales expert for 3dcart users. “Both our customers can expand into new markets while maximizing profits, security and compliance.”

“With the CenPOS integration, we expand the payment solutions offered by 3dcart to provide existing and prospective customers globally an additional alternative to how they process credit cards today, with any acquirer they choose,” stated Gonzalo Gil, 3dcart CEO.

The 3dcart CenPOS integration currently supports credit card, EFT/echeck with and without guarantee, Paypal and alternative payment methods. CenPOS POS and mobile and are available standalone now and will be integrated in the future to provide 3-D Cart customers a validated point to point encryption (P2PE) option. A validated P2PE solution significantly reduces merchant scope for PCI Compliance. CenPOS also includes to all 3dcart customers their electronic bill presentment and payment (EBPP) solution, supporting wire payments, text messaging, and other key B2B items of interest.

cenpos logoAbout CenPOS

CenPOS (https://www.CenPOS.com is a merchant-centric, end-to-end payments engine that drives enterprise-classsolutions for businesses, saving them time and money, while enabling merchants to create deeper lasting relationships with their customers. CenPOS’ secure, cloud-based solution optimizes acceptance for all payment types across multiple channels without disrupting the merchant’s banking relationships.  PCI Level 1 Service provider, QIR Certified, P2PE Validated, HIPAA compliant. https://www.cenpos.com/ CenPOS 877-630-7960, Christine Speedy direct 954-942-0483.

logo 3dcartAbout 3dcart

3dcart (https://www.3dcart.com) is the most SEO-friendly eCommerce platform for retailers and internet marketers to grow their online stores’ traffic and sales. 3dcart includes 24×7 Technical Support, 100+ Mobile-Ready Themes, order management software, built-in blog, email marketing tools and more. Since 1997, the company has been a leader in the eCommerce market, building online stores for businesses of all sizes. Today, 3dcart is Visa PCI Certified and a Google Partner. Sales 800-828-6650

ICverify replacement

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The best ICVerify replacement for business to business, including manufacturers and distributors, is CenPOS. If yours just stopped working, you need to replace it now to comply with mandatory Payment Card Industry Data Security Standards (PCI compliance). This article outlines the steps to get started with a new web-based solution.

Don’t be afraid of changing credit card technology. It’s going to be easy. Both you and your customers will benefit.

 

  • Merchant fees will be lower. ICVerify is incapable of sending the data needed to qualify for the best rates.
  • If fraud is a concern, you’ll have greater protection with newer cardholder authentication tools.
  • Process transactions from all platforms, including laptops, PCs, smartphones and tablets with an internet connection.
  • Communicate the way your customers want – text or email. Text messages are sent from a regular landline, never individual mobile devices.

To get started:

  1. Contact for consultation on the best way capture the cardholder data from your customers. Because we deal with this over and over again, in less than 5 minutes we can assess the situation and make the best recommendation.
  2. Keep your merchant account or change? If you’re using ICVerify, you’ve probably had your merchant account for a long time. The credit card processing world has gotten more competitive over the years so expect lower merchant discount rates. If you’d like a review to see if alternative might be better and or cheaper, provide three consecutive merchant statements. Three are needed for underwriting, so it saves time later if you decide to change.

Once the initial decision above has been made, you’ll be provided the appropriate month to month payment gateway agreement. Depending on the recommended solution, you’ll be ready to go within 1 to 5 business days. Whatever you need, we can probably do it in the time required.

Do not wait. Acquirers are actively identifying the systems merchants are using to submit transactions, and when they find out you’re still using ICVerify, it will be shut down immediately and you will not be able to process transactions. It’s not PCI Compliant and they will not risk their compliance for you.

Ready to get started with CenPOS? Call Christine Speedy right now at 954-942-0483, 9-5 ET for a consultation. Sometimes available other hours and Saturdays so if you’re west coast, no worries, call any time!

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.

icverify replacement 2018

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icverify first data payment systems end of lifeNeed to replace ICVerify Software? It’s still in use in 2018, even though it was end of life back in 2015.  This means any company using is not PCI Compliant and likely has a non-PCI compliance fee of $19.95 per month on their monthly merchant statements. Alternatives are abundant for card not present and retail credit card processing, but none are comparable to CenPOS for meeting business to business (B2B) companies. authorize.net and others may be suitable options for other business types; Call 954-942-0483 9-5 ET for a consultation.

What does ICVERIFY Software end of life mean?

First Data sales, product development and support have ended. Continued use of the product will invalidate a merchants PCI Compliance.

What happens if my ICVERIFY Software stops working?

You will get zero support. If you cannot open due malfunction, you’ll have no access to records. If you’re acquirer shuts down your ability to send transaction data, and this is happening frequently because it’s not PCI Compliant, they will not turn it back on. If your acquirer finds out you’re using ICVerify in 2018, you will get shut down. It’s imperative to migrate to new solution as soon as possible.

What are alternative solutions to ICVERIFY?

A cloud payment gateway is required. There’s no software to install. You can use a payment gateway via integrated or non-integrated options, which include mobile app and virtual terminal via secure web site. ICVERIFY was a buy once and use forever product. Payment gateways have per transaction fees. Many businesses make the mistake of using the one with the cheapest fee or the one that their developer or consultant is familiar with because they’ve used it for a decade or more. Are you using the same cell phone you did 10 years ago? The cheapest fee could result in the highest actual credit card processing interchange rate qualifications or inefficiency. For example, most gateways do nothing to help merchants reauthorize after an authorization expires. That matters because even though the issuer usually approves the transaction for up to 30 days, it won’t qualify for the best rate, which could be half the cost of the non-qualified rate.

What is best alternative payment gateway to ICVERIFY for a B2B company?

I’m not going to waste your time listing all the cloud payment gateways on the planet like First Data Payeezy, authorize.net, Payflow Pro, Paytrace, Cybersource, Orbital, 3Delta Systems, or 3DSI and their differences. Each has bits and pieces but none has the whole package of solutions B2B companies need. CenPOS is the only solution I know of today that will get merchants compliant with all these critical items:

  1. Comply with 2017 and 2018 Visa stored credential framework and mandate deadlines. It’s complicated. CenPOS automates compliance with things like sending the merchant initiated or customer initiated use of stored credential flag.
  2. Eliminate paper credit card authorization forms with multiple digital ways to accept payments and store cards, including text and email. Sure, some gateways offer a hosted pay page, but can they generate a PCI Compliant authorization form automatically for those that still like paper?
  3. Automate authorization management, including requirement for preauthorization and settlement match and renew expired authorizations for card not present transactions.
  4. Automate compliance to qualify transactions properly for level 3 interchange rates for corporate, purchasing and business cards. Supporting level 3 is not enough, it’s complicated.
  5. Mitigate fraud risk with a layered approach, including supporting 3-D Secure, which shifts fraud liability to issuer.
  6. Encrypted Virtual Keypad (EVK) to reduce PCI Compliance scope and burden. (No card data touches your system for phone orders; avoid key logger dangers.)
  7. Audit trail as required for PCI. Every user, every touch. Available minimum 7 years.

What else makes CenPOS the best alternative payment gateway to ICVERIFY for a B2B company?

  • Graphically pleasing, easy to use. It’s like marrying the coolness of Apple design with an Amazon buying experience. People love it. Customers are happier (proven by our clients conducting their own studies).
  • Wire transaction support with electronic bill presentment and payment services. Stop the madness associated with matching deposits to invoices and getting paid the wrong amount.
  • Reports. Dynamic search and view online or download; robust custom reports, alerts and distribution. So much faster to research anything!
  • No capital investment. We make companies more profitable virtually overnight.
  • Deposits equal receivables, not net of fees. Other services are mixed. For example, authorize.net echeck service takes it’s fees out of your deposit so then you have to do some accounting magic to reconcile.

What if ours is not a B2B company? Call for a consultation. We offer multiple payment gateway options.

Ready to get started with CenPOS? Contact Christine Speedy right now at 954-942-0483.

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.

A B2B supplier’s guide to optimizing commercial card payments review

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Mastercard and The Strawhecker Group released A B2B supplier’s guide
to optimizing commercial card payments. Selecting the right merchant acquirer and payment gateway, and optimizing interchange, can help reduce suppliers’ collection efforts and costs associated with commercial card payments. By Marie Elizabeth Aloisi and Peter Michaud. Christine Speedy, blog author, reviews the guide. In my opinion some elements, present an incomplete picture for merchants, especially the business suppliers accepting commercial payments that is the target of the paper.

The executive summary cites research that suppliers can reduce the cost of collecting funds from customers by 31% if they accept credit cards. I googled to find that commercial credit card research data, and though this is not the referenced Mastercard and Kaiser Associates, Commercial Card Acceptance Cost-Benefit Study, of November 2016, it has similar data:

  • This study estimated card acceptance at the point-of-sale to be 37% less costly than using other payment collections methods – yielding savings of $12 on a $500 transaction
  • Card acceptance provides a similar sized net benefit regardless of the funds transfer tool it replaces – e.g. check vs. ACH vs. wire
  • The bulk of value from commercial card acceptance lies in its use as a pre-payment tool – providing revenue assurance against bad debts

 

I have a problem with the next line in the report, “That’s because getting paid by check—or even ACH or wire—involves many manual steps, onerous costs, and potential errors that are a burden to a supplier’s accounting, finance, and treasury functions.”  Checks are still the most onerous even with a scanner, but with electronic bill presentment and payment, any other payment method can be automated for increased efficiency. Our cloud payment processing solutions, including integrated with ERP, automate all types of payment processing, including check/ACH, wire, credit card, and can update journals etc.

The paper goes on to explain why working with your acquirer is critical. While it mentions suppliers can benefit from advanced gateways, most acquirers offer a limited number of payment gateways to merchants. In fact, they may offer suppliers only one solution – they’re own- and it may not be the best for the supplier, it’s just the only one they offer. Independent payment gateways, like CenPOS that I offer, can provide significant advantages to maximize profits, efficiency and flexibility. For example, fulfilling the need to simplify wire transactions and match to invoices.

The three best practices cited to work with acquirers are to automate payments, optimize interchange and negotiate pricing. 

The devil is in the details not cited. For example, “suppliers can only take advantage of lower interchange rates if the payment gateway is set up to pass Data Rate 3 information along with the transaction.” This is true. But the bigger problem is compliance with all the other rules required to qualify the transaction for Data Rate 3. For example, suppliers often do a preauthorization, which expires before settlement (but can still settle) or is not the same as the final settlement amount. These common transaction types will nullify qualifying for the best interchange rates, including MasterCard Data Rate 3. There are many more rules that make it tough to qualify and if the payment gateway does not automatically manage for suppliers, passing Data Rate 3 info doesn’t matter. The reality is most payment gateways do not have a solution to help suppliers comply.

Again, if the acquirer doesn’t have the best solution, should suppliers rely on their advice? A supplier client of mine went to their acquirer (top 5 in USA) and told them what I was offering. They would keep their acquirer but switch to my payment gateway; they’d use our electronic bill presentment and payment solution to eliminate paper credit card authorization forms and employees getting cardholder data over the phone. Customers would self-manage their payment methods, including storing & tokenizing if they chose to. Their acquirer did not want them to use any solution other than their own.  They offered them a substantially worse solution- the silliest I’ve ever heard. The acquirer would give them a new merchant account with virtual terminal exclusively for one large client that they knew was using a commercial card. What about all the other clients? What about eliminating employee access to cardholder data and storing data on paper? Advising to use substandard solutions happens all the time.

In summary, Mastercard and The Strawhecker Group put out some great research data for suppliers. I’m a huge fan of the people at The Strawhecker Group and their work. Suppliers should look to cloud payment processing solution providers like myself at CenPOS for advice. Suppliers need the best payment gateway because without it, the rest doesn’t matter. Combining a robust payment gateway, business solutions, and the flexibility to change acquirers without business disruption can provide significant advantages.

All comments and statements herein are strictly my personal opinion and do not represent that of any company.

Christine Speedy, CenPOS sales 954-942-0483. CenPOS is a cloud business solutions provider with end-to-end payments engine that drives enterprise-class solutions for businesses, saving them time and money, while improving their customer engagement.

B2B Credit Card Processing Hot Tips

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Compliance with credit card processing rules maximizes profits while mitigating risk. This is especially true for business to business companies. But it’s getting harder and harder with the onslaught of new rules, and virtually impossible if not using a sophisticated cloud solution to help manage compliance.

If your B2B company stores credit cards, there’s a pretty good chance you’re not compliant. For example, Visa’s 2017 Stored Credential Transaction framework outlines merchant responsibilities to obtain customer consent as well as storing credit cards, using stored credentials (token), and managing stored tokens. Failure to comply with Authorization rules, for example preauthorization and final settlement do not match, has far-reaching consequences including higher interchange rates (the bulk of credit card processing fees), penalty fees and new chargeback risks. With so many new rules across multiple card brands that vary based on business and transaction type how can a business quickly ascertain if they’re compliant?

Most processing details occur seamlessly behind the scenes so merchants have not had a simple way of knowing whether they’re compliant. Until now.

Quick tips to validate compliance:

  • Is a transaction receipt delivered to customer when a stored credit card credential (token) is created? Compliant answer is yes.
  • Is cardholder authentication with a zero dollar authorization or a purchase transaction performed at the time token is created? (A small charge is not an acceptable practice.) Compliant answer is yes.
  • Does the receipt include “RECURRING” or “REPEAT SALE” for token transactions? Compliant answer is yes.
  • Review merchant statements, usually the last 1-2 pages with the heading “pending interchange” or “fees” section. Do you see EIRF, STANDARD (STD), or DATA RATE I? Compliant answer is no.
  • Can you produce documentation of customer consent to store their card (including with 3rd party service) and how it will be used?

If you’re not in compliance, your payment gateway is the most likely culprit, followed by ERP or other software integration limitation. For a Microsoft Dynamics AX, Dynamics 365, and other ERP integrated solutions, call 954-942-0483 9-5 ET.

Reference: Card brand links.

Christine Speedy, CenPOS Sales 954-942-0483. CenPOS is a cloud business solutions provider with end-to-end payments engine that drives enterprise-class solutions for businesses, saving them time and money, while improving their customer engagement.