Category Archives: virtual terminal

ICVERIFY Alternatives 2017

Posted on by
Reply

ic verify replacement alternativeICVerify Software is still in use in 2017, even though it was end of life back in 2015.  Alternatives are abundant, but none are comparable to CenPOS for meeting business to business (B2B) companies.

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 2017, 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 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 cost or inefficiency. For example, most gateways do nothing to help merchants reauthorize after an authorization expires. That matters because even though the issuer may approve the transaction, 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 Visa stored credential framework and mandates. 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.

Will I be able to port over my existing data? Yes. Per PCI Compliance rules, merchants need to securely remove sensitive cardholder data from all systems. Qualified Security Assessor (QSA) companies are independent security organizations that have been qualified by the PCI Security Standards Council to validate an entity’s adherence to PCI DSS. You can find one here https://www.pcisecuritystandards.org/assessors_and_solutions/qualified_security_assessors.

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.

What is Auth Code 14, declined?

Posted on by
Reply

A credit card processing response of Auth Code 14, is a decline for Processor Declined, Fraud Suspected. Why does this happens for recurring billing, including unscheduled recurring billing using a stored credential, also known as a token on file? The method used to store the first transaction, and process subsequent transactions can impact authorization approvals.

For example, a merchant has successfully processed unscheduled transactions using a token on file since 2016. However, in 2017, declined for Auth Code 14 appeared.

auth code decline 14

Why would a previously stored and working card decline now? Look at the AVS,  ZIP, and CVV response above. Compare to the example below.

token billing

For the second receipt, AVS match Y= address and 5 digit zip match, Zip match Y=Address and 5 digit zip match, CVV = match X, cannot verify CVV. Because CVV was verified a match on the initial zero dollar authorization it’s not required to be presented on subsequent transactions.

The first example is returning that information does not match, thus the reason for suspected fraud. Without looking at the very first authorization when token was created, several possibilities exist, including  cardholder issued a new chip card with same number but other changes occurred in the interim; cardholder address changed or was never validated.

Merchants are at risk of issuer initiated chargeback if authorization rules are not followed. Refer to  Visa Product and Service Rules, Table 5-21: Requirements for Prepayments and Transactions Using Stored Credentials for more information. With recent rules changes, and more coming October 2017, merchants need a cloud based solution that can automate compliance. Not all of them have that intelligence. For example, some cloud based payment gateways enable merchants to perform prohibited transaction requests that put the authorization at risk of chargeback for non-compliance.

Due to many recent and upcoming changes for card absent and recurring billing with stored credentials, merchants are advised to review processes to include empowering customers to self-manage adding cards on file, and using cardholder authentication. Visa requires Verified by Visa for cardholder authentication in a card not present environment; without it, expect increasing declines.

Disclaimer: The rules of card acceptance are very complex and change typically twice a year, sometimes with interim bulletins regarding more changes. Merchants should read the manual for complete details regarding card acceptance for your business type.

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

Building Supply Industry Profits Impacted by EMV chip card terminals

Posted on by
Reply

EMV terminal selection directly impacts interchange rate qualification, the bulk of credit card processing fees.

November 4, 2015– EMV, short for Europay, MasterCard,Visa, chip card terminals are in high demand, short supply, and most likely an unwelcome expense. Building material suppliers go to great lengths to negotiate with their payment processors for reduced rates, but this approach only impacts a fraction of costs. There is much bigger value is managing the entire payment process to affect the biggest component of fees – card interchange. The EMV terminal implemented will directly impact interchange rate qualification, and none of the most popular terminals recommended today meet critical lumber and building supply requirements.

Interchange rates are non-negotiable, but they can be influenced. There are hundreds of fees that can be tacked on based on each transaction type. Due to complexities, building material suppliers must have an intelligent solution to manage the payment process and ensure compliance with all the rules.

PURCHASING CARDS

To qualify for the lowest interchange rates, transactions must meet all the rules for the specific card and transaction method. For building material suppliers business to business (B2B), processing level III data for Corporate, Purchasing, and Business cards is critical. Their card use is growing and savings of 90 basis points or more for some cards is an attractive margin difference worth achieving.

mastercard rates level-lll

Sample interchange rates for the same credit card transaction; Failing to follow rules results in costly extra fees.

Countertop terminals like the popular First Data FD Series, Verifone VX series, or Ingenico iCT series, with downloaded programming, cannot support level III. The US EMV ecosystem requires a web-based payment gateway with EMV terminal and level III retail certification. For example, CenPOS has certified the Verifone MX915 to First Data, Chase Paymentech and Tsys, the latter which enables use with most processors. Merchants can use CenPOS via a web browser virtually instantly or an integrated application.

EMV COMPLIANCE DATES

While EMV is not a mandate, effective October 1, the party that does not support EMV (short for Europay, MasterCard, Visa) chip card acceptance is liable for counterfeit card, and sometimes lost or stolen card transactions. Because card issuers previously absorbed most of these losses without any notification to the merchant, businesses can expect losses if action is not taken. Additionally, non-EMV compliance fees have already been announced by at least one provider, NPC, starting January 1, 2016.

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.

EMV TERMINAL SELECTION IMPACTS PROFITS FOR BUSINESS TO BUSINESS

Posted on by
Reply

What’s the most important EMV implementation criteria for business to business retail? Supporting level III data, which increases profit margins by qualifying credit card transactions for the lowest interchange rates possible. With proper terminal selection, businesses can quickly offset the cost of compliance for chip card acceptance, and protect long-term profit margins.

“The most recommended terminals in the US, including all the First Data FD series, Verifone VX series, and Ingenico iCT series terminals, do not meet critical business to business needs to protect profit margins, ” said Christine Speedy, a global CenPOS Authorized Reseller.

Interchange is the primary component of credit card processing fees, typically accounting for over 95% of fees. For business to business (B2B), including building supply and HVAC, many customers use corporate, business and purchasing cards. By qualifying these cards for level III interchange rates, B2B merchants can boost margins significantly. For example, the MasterCard interchange rate can drop from 2.65% to 1.80%, for transactions under $7500, and even more for larger transactions.

What’s needed to qualify for level III rates? The US EMV ecosystem at a minimum requires a web-based payment gateway that has certified an EMV terminal with level III processing to a specific acquirer. That’s because the extra data needed for the transaction is too cumbersome for a countertop terminal, but can be easily managed with a cloud solution. For example, CenPOS has certified the Verifone MX915 to First Data, Chase Paymentech and Tsys, the latter which enables use with most processors. Merchants can use CenPOS via a web browser virtually instantly or an integrated application.

While there is no mandate for chip card acceptance, effective October 1, the party that does not support EMV (short for Europay, MasterCard, Visa) chip card acceptance is liable for counterfeit card, and sometimes lost or stolen card transactions. Additionally, non-EMV compliance fees have already been announced by at least one provider starting January 1, 2016.

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

 

Credit Card Processing and EMV For Business to Business

Posted on by
Reply

Are business to business merchants being steered to expensive EMV credit card processing solutions? Yes. Too many banks, acquirers and software companies have limited EMV terminal solutions, and none of them are the best solution for business to business (b2b) companies that have a retail component.

Critical Credit Card Processing Needs for Business to Business

  1. Level 3 processing to reduce merchant fees. level 3 interchange rates
  2. Card not present risk mitigation for key entered and online payments, including securing card data collection, and preventing fraud.
  3. Token billing to securely store card data for variable recurring billing.
  4. Flexibility to collect payments from multiple sources and multiple payment types.

Common B2B EMV terminal solutions

There are two types of terminals. The most common type has software loaded on the terminal. For example, the Verifone VX520 with Vx820 EMV & NFC pinpad.

Verifone VX520 VX805 EMV terminal

Verifone VX520 with VX805 EMV terminal

The second type requires an internet connection to a payment gateway. The gateway  manages the terminal, which is essentially a slave to the gateway.

ingenico isc250 signature capture terminal

ingenico isc250 touch signature capture terminal with EMV and NFC.

The first option above doesn’t meet any of the critical B2B needs, yet is the most common solution offered to every company, without regard to business type. The second option is capable of meeting critical B2B needs, but only if the payment gateway supports them.  The only payment gateway with EMV certified terminal and level III processing retail certification is 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’s secure, cloud-based solution optimizes acceptance for all payment types across multiple channels without disrupting the merchant’s banking relationships. 3D Merchant Services is an authorized CenPOS reseller.

Business to business merchants with a retail business element are advised to consult with a payments expert who offers level III processing for retail. The rest doesn’t matter if this need cannot be met, so it’s an easy way to differentiate those who are selling whatever they have to offer and those who are solving problems to make your business more profitable.