Category Archives: online payments

online payments for credit card processing and echecks

EBill payments via text or email improve PCI Compliance video

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Ebill and einvoice systems send invoices vs Electronic Bill Presentment and Payment or EBPP gets you paid from that request via text or email. This critical difference has a major impact on security and PCI Compliance. This  video demo is for a standalone solution to accept online payments, including credit card. ACH and wire. Integrated solutions for Quickbooks, ERP, or other, are also available.

Video CenPOS EBPP Lite demo shows the simplicity of sending an einvoice with request for payment via email to an existing customer, that has previously made a purchase and stored their credit card. Customers can self-update their payment methods, store multiple methods. Ask for any feature, and yes, we probably support it.

A layered approach to card not present fraud protection is critical with increasing financial industry changes. In addition to the traditional address and CVV verification, cardholder authentication, IP blocking and other tools can be used to guarantee payment against fraud globally (some restrictions apply).

Eliminate credit card authorization forms with sensitive cardholder data. No one likes them, they’re time wasters for both parties, cards get expired etc. At best, they offer flimsy protection against fraud. Worse, they’re a PCI Compliance nightmare.  In the event of a data breach, it’s likely impossible to prove compliance if you use them. Regardless of how secure and loyal you think your employees are, stuff happens and when identity theft related to credit cards occurs, your business has a 50% chance of survival.

Contact Christine Speedy, 954-942-0483, 3D Merchant Services, 9-5 ET. Your merchant account, our cloud hosted payment gateway solutions.

3 Profit Boosters for Lumber, Building Materials, Distribution Companies

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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.
On the surface negotiated rates are often great, but the right tools are critical to qualify transactions for maximum profits.  The building supply industry, including plumbing, electrical, lumber, windows, doors, stone, marble, flooring, insulation, lighting, fencing, roofing, gutters, appliances and more will greatly benefit from 3D Merchant Services solutions and consulting expertise. Free trial to measure the value with existing merchant account.

Accept Payments Online

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Winter Storm Jonas is a reminder of the importance for business to business companies to accept payments online. What if you have a desktop terminal, but staff is working from home? How can accounts receivable be reached for call in or fax payments? Cash flow and efficiency will improve with 24/7 online payments.accept payments onlineTo accept payments online via a self-serve 24/7 online payment form, a payment gateway is required to secure the transaction. The most popular non-integrated methods:

  1. Hosted pay page – merchant provides customers an email or web site link to make payments on the payment gateway hosted web page. Click here for hosted pay page example.
  2. Embedded payment object– the buyer stays on the merchant web site, with the gateway html code embedded as an iframe.

Online Payments FAQ

What is the rate? There are two service types: Payment gateway or bundled gateway with merchant account. For flexibility to change merchant accounts, which most businesses will do every few years, keep your gateway separate to minimize business disruption. When the merchant account changes, there’s no programming needed. Just update the gateway settings with the new merchant account information. Never, ever choose a payment gateway by comparing the cost per transaction. Instead, measure the net transaction cost, including gateway fees, for card types accepted. (Click here for online payments example of authorize.net vs CenPOS for business to business.) B2B companies need a gateway solution that supports level III processing and will help qualify transactions for the lowest rate.

How long does it take to get started? Usually 2-5 days after the decision has been made, from gateway sign up to accepting payments. The actual implementation time is minimal.

How do I know when someone makes a payment? An email is automatically sent with details. TIP: Create an email alias to a distribution list. For example, epay@mydomain.com.

Can my invoices be automatically marked as paid in my accounting software? With an integration, yes. Depending on your software, and the gateway, there may be a module available for quick and easy implementation.

Where can I view transaction reports? By logging in to the virtual terminal via a secure web browser, or in some cases, via mobile app.

Can customers save their credit card information? With most gateways, yes.

Is it PCI Compliant? All the major US payment gateways are PCI Compliant. Accepting payments online can improve PCI Compliance for merchants, as risky practices like credit card authorization forms are abolished.

Can customers pay with an echeck (ACH)? It depends on the gateway.

 

Hosted Pay Page vs EBPP – EIPP

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How can a hosted pay page or electronic bill presentment and payment (EBPP), also known as electronic invoice presentment and payment (EIPP) improve your customer experience? Cardholders are increasingly weary about giving out card data over the phone, or worse, via fax, which also has PCI Compliance implications. Reducing friction to collect payments, while putting cardholders in control of their data, is proven to increase sales and cashflow.

A hosted pay page enables customers to passively pay bills online via a secure web page. Payment types may include credit cards, Paypal, ACH (echeck), and other methods. The burden for entering all fields is on the customer. Many payment gateways offer this service free.

hosted paypage online payments

A hosted pay page empowers customers to make secure payments online.

With EBPP, the payment request is delivered to the customer via email or text. Instead of asking customers to find the pay page, the customer is given a link to pay a specific bill or invoice, or multiple invoices, and some of the data may be prefilled. Empowering customers to review and pay multiple invoices on demand by logging into a secure portal is also a significant benefit. With our recommended solution, repeat customers with stored payment methods can pay an invoice in 2 clicks, no login required. Customers prefer EBPP vs hosted pay page. Payment types may include credit cards, Paypal, ACH (echeck), wire, and other methods.

eipp payment request

Body of email containing pre-filled payment info, and link to securely pay online.

Merchants can reduce risk of lost credit card disputes and resulting chargebacks with a multifaceted approach:

  • Ecommerce merchant account is required
  • Verify address & zip code
  • Verify CVV / CID security code; if using token billing, prior validation is OK. You do not need to verify after the first transaction.
  • 3-D Secure: Verified by Visa (Vbyv) and MasterCard SecureCode – cardholder authentication shifts fraud liability back to issuer.  Not all issuers support and implementation varies by payment gateway and other factors. Check the rules to see how it fits in your fraud prevention program.
  • How can a merchant enable customers to remotely pay an invoice, while maximizing security to prevent chargebacks from disputes? A critical step is managing the transaction representment to the issuer. It must be sent with the correct indicator and comply with all rules, including authorization validity
  • Require all B2B customers to confirm copy of the emailed receipt via a company email address. This is overkill for for most, but effective as part of an exception plan.
  • Optional custom procedures may be added based on risk tolerance.

In summary, either method of online payments increases security and enables customers to pay 24/7 to increase cash flow. EBPP or EIPP solutions have significant additional benefits and the cost to implement has dropped significantly, with many businesses experiencing an instant ROI.

UPDATE:  To comply with Visa disclosure and consent rules, only use solutions with a checkbox to opt-in to terms.

Christine Speedy, CenPOS global sales and integrated solutions reseller, 954-942-0483. 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.

Paypal Rates Increase October 2015

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Effective October 1, 2015, Paypal will remove the tiered merchant rates for US domestic and international Purchase Payments. The changes don’t apply to PayPal Payments Pro users and Virtual Terminal. PayPal Payments Standard and PayPal Express Checkout users will have a rate hike.

The new rate will be the standard rate of 2.9% + $0.30 USD for domestic transactions and 3.9% + fixed fee** for international transactions.  Card-processing rates on PayPal Payments Pro and Virtual Terminal are not changing.

Paypal rates October 1, 2015:

Standard 2.9% + $0.30
Mobile In-Store Payments rate 2.7% + $0.30
Nonprofit rate 2.2% + $0.30

Paypal international rates October 1, 2015:

Standard 3.9% + fixed fee
Mobile In-Store Payments rate 3.7%  + fixed fee**
Nonprofit rate  (under $100k/mth) 3.2% + fixed fee**
Nonprofit rate  (over $100k/mth) 2.9% + fixed fee**

Paypal current tiered rates:

PayPal Rates:
Domestic Purchase Payments transactions in U.S. Dollars
Prior month’s sales volume    Fee per transaction
$0 to $3,000    2.9% + $0.30
$3,000.01 to $10,000    2.5% + $0.30
$10,000.01 or greater    2.2% + $0.30

International Purchase Payments transactions
Prior month’s sales volume    Fee per transaction
$0 to $3,000    3.9% + fixed fee**
$3,000.01 to $10,000    3.5% + fixed fee**
$10,000.01 or greater    3.2% + fixed fee**

*Sections 8.2 (b) and 8.4 (c) of the PayPal User Agreement
**Section 8.4 (d) of the PayPal User Agreement. Click here to see Paypal International Fixed fees vary by country.

Paypal Pro fees:

These are the fees posted on Paypal web site now.

  • $30 monthly fee
  • 2.9% + $0.30 per transaction
  • 3.1% + $0.30 per domestic transaction; additional 1% for cross-border transactions

Paypal Pricing for Add-On Services

Recurring Payments: $30 monthly
Advanced Fraud Management Filters: $20 monthly + $0.05* per transaction
Account Monitoring: $29.95 setup + $19.95 monthly

Paypal Additional Fees

  • International Sales: The pricing table above applies to domestic payments in US dollars. There’s an additional 2.5% charge for any currency conversion and a 1% charge to receive payments from another country
  • Chargeback Fee: $20
  • Uncaptured Authorization: after a successful authorization, you’ll be charged if you do not complete the sale using PayPal Payments Pro: $0.30 per uncaptured authorization
  • Card Verification Transactions: used to verify that a cardholder’s account is in good standing without processing a purchase transaction: $0.30 per submission
  • Refund Fee: Fixed fee portion of the original transaction fee (for example, the refund fee is $0.30 for domestic payments)
  • American Express® card usage fees: 3.5% per transaction on PayPal Payments Pro, PayPal Payments Advanced and Virtual Terminal

Click here for the official Paypal rates and fees.