Data breach prevention: update every device due to Intel vulnerability

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News of the Intel chip flaw creating vulnerability in virtually everything with a computer chip in it was announced last week. Microsoft, Google and tech companies now have a fix so it’s time to update all your devices. These emergency updates are to address the bugs called Meltdown and Spectre.

“These hardware bugs allow programs to steal data which is currently processed on the computer. While programs are typically not permitted to read data from other programs, a malicious program can exploit Meltdown and Spectre to get hold of secrets stored in the memory of other running programs. This might include your passwords stored in a password manager or browser, your personal photos, emails, instant messages and even business-critical documents.”

“Meltdown and Spectre work on personal computers, mobile devices, and in the cloud. Depending on the cloud provider’s infrastructure, it might be possible to steal data from other customers.”

For PCI compliance, merchants must update software within 30 days, however, I wouldn’t wait. Prioritize updates now.

For more information on the bugs, see https://krebsonsecurity.com/2018/01/scary-chip-flaws-raise-spectre-of-meltdown/

Christine Speedy, CenPOS authorized 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.

CenPOS Hosted Pay Page vs EBPP

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I’m advising my CenPOS clients with card not present transactions to use either the hosted pay page or Electronic Bill Presentment and Payment (EBPP), also known as electronic invoice presentment and payment (EIPP) due to increasingly complex rules. Plus cardholders are weary about giving out card data over the phone, and paper or digital credit card authorization forms should be abolished. Reducing friction to collect payments, while putting cardholders in control of their data, is proven to increase sales, profits and cashflow so updating procedures is a win win for you and your customers.

What is a hosted pay page?

A hosted pay enables customers to passively pay bills online via a secure web page hosted on a CenPOS server. The form can be embedded on your web site secured with an SSL certificate or you can direct customers to your custom CenPOS URL. The most common payment types CenPOS users enable are credit cards, Paypal, and ACH (echeck).

  • The burden for completing data fields to make a payment is on your customer.
  • Customers can optionally create an account and store and manage all payment methods.
  • Depending on your customer agreement, either you or the customer can use a stored token on file to initiate future transactions.
  • Customers can view prior payment history, but not actual invoices.

What is EBPP?

With EBPP, the payment request is delivered to the customer via email or text. The message includes a custom link to pay a specific bill or invoice and some of the fields are pre-filled. Customers prefer EBPP vs hosted pay page. The most common payment types CenPOS users enable are credit cards, Paypal, ACH (echeck) and wire transfer. The last is very important for international businesses to streamline bank reconciliation and match deposits to invoices.

  • Data fields, including invoice number and amount, are pre-filled to save your customer time.
  • Customers can optionally create an account to store card data, pay multiple invoices, review payment and invoice history in the CenPOS hosted portal.
  • Depending on your agreement with your customer, either you or the customer can use a stored token on file to initiate future transactions.
  • With a CenPOS ERP or accounting software integration, your records are automatically updated with payments, and reminders are automatically delivered.
  • Optional 2-way texting service has many benefits, including communicating with customers via their preferred methods- whether phone, text or email.

What are the benefits of customer initiated payments with hosted pay page or EBPP?

  • Increased efficiency to comply with new stored credential rules.
  • Reduced merchant fees for some cards (3-D Secure cardholder authentication must be enabled.)
  • Increased approvals with cardholder authentication.
  • Mitigate chargeback risk – with cardholder authentication fraud liability shifts to issuer.

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

Christine Speedy, CenPOS authorized 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.

Delay in Compliance Action for Visa Stored Credential Framework

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From the Visa Merchant Business News Digest, October 17, 2017.

In the 1 September 2016 edition of the Visa Business News, Visa introduced new rules related to credential-on-file transactions, including merchant disclosure requirements and transaction identifier requirements went into effect for merchants and acquirers on 14 October 2017.

However, based on stakeholder feedback, and after assessing market readiness and taking into account the holiday season system freeze, Visa will extend the time to make the necessary system changes until 30 April 2018.

While the rule is still effective as of 14 October 2017, Visa will not take any compliance action or assess non-compliance assessments to non-compliant entities prior to 30 April 2018. Entities that comply with the rule by 30 April 2018 will not be required to submit a waiver request to Visa.

https://usa.visa.com/support/merchant/library/visa-merchant-business-news-digest.html

End Visa bulletin.

The stored credential framework applies to all merchants that store credit cards. Note, while some stakeholders were not ready as per the above statements, CenPOS was. CenPOS replaces other payment gateways, for example authorize.net, as well as solutions such as BillTrust, while enabling customers to keep their acquirers and other partners.

See more info here https://usa.visa.com/dam/VCOM/global/support-legal/documents/stored-credential-transaction-framework-vbs-10-may-17.pdf

Christine Speedy, CenPOS authorized 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.

Quickbooks Payment link on Statements

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Is it possible to have the payment link on statements as it is on invoices emailed to customer?

Yes, businesses using a desktop or self-hosted version of Quickbooks Enterprise and other versions can use the custom text field in the template set up to create a link. Customers click from the statement to a self-service portal to pay all invoices. This is not available with Intuit Merchant Services, but is supported with our third party module. The link from the invoice is to pay the specific invoice, no login required.

Are you tired of following up on late or past due receivables? Does it take weeks and months to get paid? Do your customers ‘lose invoices’? Do you want to qualify for low level III interchange rates for purchasing cards? Boost cash flow, efficiency and profits virtually overnight with the best alternative to Intuit merchant services for Quickbooks. Compatible with QuickBooks 2015 and 2016 Pro, Plus, Enterprise versions. (Not Quickbooks online.)

Adding a Pay Now Button Link To Quickbooks Statements

  1. Non-Intuit merchant account required to accept credit cards. Christine Speedy will help you with a wholesale account if you don’t already have one.
  2. Sign up for a CenPOS account with Christine Speedy.
  3. Install the supplied module.

Benefits

  • Send invoices the way your customers want- text or email
  • Automated reminder collections built-in
  • Quickbooks updated automatically when customers pay
  • ACH, wire, and Paypal, also supported
  • 3-D Secure supported to shift card not present fraud liability to issuer
  • For retail, full cashiering supported for 100% financial transparency.
  • EMV chip and pin, chip and signature supported
  • Smart rate selector reduces merchant fees

It’s quick and easy to get started with our Quickbooks credit card processing module so employees can get right to work without disruption.

Note: This article was accurate at the time written. Solutions are continually updated. Contact us for the latest facts.

Christine Speedy, CenPOS authorized 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.

Credit Card Authorization Form Q&A Webinar November 8 2017

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credit card authorization formWhat’s the best credit card authorization form?

Learn best practices for 2017 and 2018 card not present credit card processing based on the latest Payment Card Industry Data Security Standards (PCI compliance), Visa, MasterCard and other rules. This webinar is ideal for credit managers and any entity that is currently using paper credit card authorization forms, or encrypted digital forms.

Christine Speedy will review related compliance rules, including PCI and October 14 Visa Stored Credential rules, consequences for non-compliance, and solutions to replace traditional paper credit card authorization forms. Live Q&A.

Register now for the credit card authorization form webinar Nov 8, 2017 11:00 AM in Eastern Time. TIP: For PCI Compliance, you need a current web browser and you’ll need one for this webinar too. Read this article and take the free browser test.

Christine Speedy, CenPOS authorized 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.