Following the Transfirst review with Transaction Express Gateway, this article shows a direct comparison of two gateways. Because CenPOS is more than a gateway, and is a complete cloud payment processing platform, the differences are significant when you dig in beyond the surface of accepting credit cards.
When you first look at the chart below, it seems that the gateways are very similar. If you think all gateways are alike, you’re wrong.
For example, if your company is primarily business to business, it’s virtually impossible to qualify transactions correctly for the lowest interchange. Why? Because there are so many rules about how and what data to capture. Some businesses try to deal with that by entering lots of information on every transaction. What a colossal waste of time!
A traditional gateway has some fields that are required and some that are not. You decide what to enter. All transactions are processed as Retail or MOTO, however your merchant account was set up.
The CenPOS gateway doesn’t leave decisions up to employees. When the card number is entered, the intelligent gateway identifies all the relevant factors for the merchant and then automatically prompts for just the information needed for that transaction. Nothing more, nothing less. Users do not get to decide what to enter. CenPOS will process as a MOTO or retail transaction based on merchant and system defined rules, not a one-time merchant account set-up.
|Payment Gateway Features As Listed on Transfirst 5/25/2012|
|Payment Gateway||TransFirst® Transaction Express||CenPOS|
|Support via Phone|
|Virtual Terminal/ Batch Upload||n/a||n/a||n/a||n/a|
|Security and Compliance|
|Shopping cart – supported||n/a||n/a||n/a||n/a||n/a||n/a|
|Virtual Point Of Sale||n/a|
|Mobile App (note 1)||n/a||?||?||n/a|
|VALUE ADDING PRODUCTS|
|Recurring Billing||note 2||note 2|
|Secure Card Data Storage|
|ACH Check Processing||future||future||future|
|Advanced Fraud Protection||?||?||?||?|
|THIRD PARTY SOLUTIONS|
|Point of Sale Solutions||n/a||n/a||n/a||n/a|
|Mobile Device integrations||n/a||n/a||n/a||n/a||n/a||n/a|
|Payment Gateway Features DIFFERENTIATORS|
|Note 1||1. Are all payment sources integrated to a single hub for Transfirst? That is, can you view all transactions and reports from the virtual terminal?2. If you have a MOTO merchant account, but add a mobile device, will those transactions qualify at retail interchange rates? If you have a Retail merchant account and also set up recurring billing, are your recurring billing transactions presented with the MOTO indicator to qualify for card not present interchange and proper receipt requirements? With CenPOS, the answer is yes.|
|CenPOS empowers merchants to swipe the first transaction, and store the payment data for future card not present needs. All of the payment information needed to qualify the transaction properly for future card not present transactions is automatically collected. The initial transaction will qualify for RETAIL and the subsequent transactions will qualify under MOTO rules. Both are represented properly to mitigate risk of chargebacks from disputes with regard to proper receipt and signature requirements.|
|“Company” or “Family” contract management for recurring billing|
|Electronic Bill Presentment & Payment|
|Capture accounting codes at time of payment|
|Secure Online Paypage|
|Change installment or recurring pay date after started||?||?|
|Variable recurring billing- encrypt and tokenize||Tokenize-yes. Method not known.|
|7 years data storage and retrieval, including signature capture|
|Automated email transaction alerts- custom criteria|
|Dashboard and corporate hierarchy reports|
|Custom Crystal Reports – actionable data intelligence|
|Customer transaction Search by name|
|Integrated ACH/check processing|
Companies change processors every 2-3 years on average because they are looking to reduce expenses. What you really need to do is switch to the industry’s only intelligent gateway, which uses a variety of proprietary methods to positively impact EBITDA. Cenpos is the only intelligent gateway to automatically optimize payments for EBITDA improvement. CenPOS removes users from making decisions that can negatively impact profits through a variety of proprietary methods.
Another significant difference is portability. With CenPOS, a merchant can change processors with minimal business disruption. The merchant CenPOS account is updated with the new processor account number. It won’t impact stored payment data (tokens), reports, 7 years transaction history and insights, online payments, internet integrations etc. Because Transaction Express is proprietary to Transfirst, when you switch processors, you lose not only the data, but you may need to update everything else – equipment in the field, mobile apps, web integrations and more.
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