Tag Archives: CenPOS

Does My Company Need CenPOS? B2B Payment Gateway Checklist For Credit Card Processing

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If your company has a business to business component and more than five hundred thousand in credit card processing revenues, this article is for you. If you answer yes to any question, you’ll almost certainly increase EBITDA with very little effort by switching to CenPOS.  Changing your merchant services provider is not required.

  1. Do you have a desktop terminal?
  2. Do you use authorize.net, Paypros, or Paypal for your payment gateway or virtual terminal?
  3. Do you have mixed swipe and card not present transactions on the same merchant account?
  4. Do you preauthorize cards and charge when ready to ship- sometimes weeks later?
  5. Do you ever preauthorize card for one amount, but capture or settle a different amount (change order)?
  6. Is MasterCard Data Rate I or II on your merchant statement, but not Data Rate III?

The list is what I call ‘easy pickings’ for big financial impact, and I don’t even need to see your merchant statement. CenPOS fees will nearly always be more than offset by merchant fee savings. That’s not necessarily a big enough reason to make a change, but isn’t it compelling enough to call 954-942-0483 now and learn more about how our platform can help your company?

Payment Standardization Tools for Merchants

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2015 merchant survey standardizationAccording to a new 2015 ETA member survey, lack of standardization is one of the top pain points for merchants, relative to payments. CenPOS industry leading payment standardization tools are often cited by merchants and developers as a top reason for choosing the merchant centric payment engine.

Partial list of standardization tools that help merchants increase efficiencies, EBITDA, and reduce PCI Compliance burden:

Two powerful items to meet stricter PCI 3.0 Compliance rules are restricting user functions and access to data by job function. Conversely, when new features are added, user permissions can be updated in an instant simply by updating the role.

  • Role management – create unlimited roles, restricting permissions by job function from cashier to 3rd party accountant.
  • User management – Easily manage users and assign roles. Someone got a promotion? Just reassign to a new role. Employee no longer with the company? Remove access, but not the audit trail of their prior interactions and transaction records.

Scalable hierarchy: Whether one or one thousand locations, CenPOS provides standardized reporting, user management, role management, a suite of risk management tools, including customized fraud mitigation tools, and more. This enables merchants to not only better manage payments, but standardize training but also internal and external customer experiences.

Flexibility: Payment acceptance rules can be updated in an instant. This is especially important due to rapidly changing regulatory, PCI and other payment related rules. For example, when California passed a law about prohibiting collecting consumer zip codes, it went into effect immediately, and the fines were stiff for violating the rule. CenPOS merchants were compliant overnight.

 

CenPOS certifies with Visa Accelerated Connection Platform

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cenpos payments logoCenPOS enables direct connection to Visa for merchants by certifying with the Visa Accelerated Connection Platform

Miami, FL (PRWEB) April 07, 2015

CenPOS, a payment technology provider, announced today that it has certified to Visa Accelerated Connection Platform (ACP). These continued efforts enable CenPOS merchants globally to take advantage of Visa’s transaction authorization and capture services, end-to-end encryption, tokenization and integrated redemptions; thus, bypassing the existing core bankcard processors for these and future Visa services. This connection not only enables merchants to connect to more than 2 billion Visa cardholders worldwide, but also connects them directly with the rest of the card brands as well. A direct connection to the card brands creates value and reduces PCI cost for merchants by encrypting data at every point of the transaction. More importantly, merchants now can leverage Visa’s technology infrastructure and achieve better financial results while providing their customers with an enhanced payment offering.

“We at CenPOS believe that this new connection creates significant value for our merchants and gives them the control they have been seeking for years, especially their ability to freely choose financial providers without the fear of any business disruption and/or changes in their daily workflow. It makes business and financial sense for merchants to go directly to the card brands and bypass their acquirers for these services,” said Jorge Fernandez, CenPOS’s Co-Founder and Chairman. “We at CenPOS are always on the cutting edge of payment technology. As evidenced by our recent EMV certification in the US, we are committed to delivering innovative solutions for our clients globally”, added Fernandez.

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 additional information please call 877.630.7960.

Marble and Stone omnichannel payment solutions

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Marble and stone manufacturers and distributors that use traditional payment technology will suffer from higher credit card processing fees, PCI Compliance problems, and increased fraud risk. This article identifies the main problems and how to fix them.

PCI Compliance Problems

It’s a fact there will be card not present transactions. Credit card authorization forms have been a primary tool to mitigate fraud risk, but they’re a PCI compliance nightmare:

  • Merchants cannot request CVV2 on any paper form, even if it will be destroyed later. (Visa Core Rules October 2014). Without CVV2, the merchant will lose any future fraudulent card dispute.
  • Forms contain sensitive data. It’s virtually impossible to keep the signature on file and be PCI Compliant.
  • Employees have access to credit card numbers
  • The receiving fax needs to be secured, and if digital, any memory securely wiped when the machine is replaced.

PCI Compliance Solutions

  • PCI compliant credit card authorization form for variable recurring billing
  • Tokenization to store card data outside ERP and other software to reduce scope and burden
  • Customers self-payment solutions so employees have no access to card data. Options include online hosted pay page and electronic bill presentment & payment (See also How to get CVV2 and be PCI Compliant)

Mixed Retail and Card Not Present Transaction Interchange Rate Problems

When a merchant has a retail merchant account, magnetic stripe data is expected with the transaction. When it’s not included, the merchant pays higher non-qualified interchange fees.  There are no desktop terminals, and few cloud based solutions that support level III processing for retail transactions. This is significant because most cards that qualify are MasterCard and the average savings is .75%.

When a merchant has a MOTO (mail and phone order) merchant account, and then swipes a card, they get the benefit of a signed receipt, but not the benefit of lower swiped merchant fees.

Mixed Retail and Card Not Present Transaction Interchange Rate Solutions

Marble and Stone merchants MUST have a solution with interchange rate optimization that solves the above and numerous other issues related to omnichannel credit card processing.

Multiple Locations, Centralized Billing Problems

With centralized billing, when there’s a dispute, the merchant needs to present the signed receipt. It’s time consuming and inefficient to store and locate paper receipts.

Multiple Locations, Centralized Billing Solutions

Signature capture terminals are essential. Mobile is not an acceptable substitute for signature capture, because marble and stone merchants benefit from pin debit and other optimization capabilities that are only possible with multi-lane terminals. EMV, NFC and P2PE are recommended.

CenPOS is the only payment gateway and payment engine that solves every problem listed above. CenPOS has solved these problems for years, while Authorize.net, Paypal, Payflow Pro, and even newer alternative gateways have not caught up. Contact Christine Speedy 954-942-0483 for sales and ERP or other software integrations.

 

 

 

 

Verifone MX915 multilane signature capture terminal EMV POS solution

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Verifone MX915 signature capture terminal

Verifone MX915 signature capture terminal.

CenPOS now supports the Verifone MX915 signature capture terminal with a variety of point of sale solutions. While most new terminals in the market are EMV ready, CenPOS is EMV live with this Verifone multilane terminal.

To boost EMV adoption, MasterCard offers incentives beyond the EMV liability shift.  To participate, merchants must deploy hybrid EMV terminals (support of both contact and contactless interfaces), and 75% of card present transactions must be on them .(reference MasterCard white paper http://www.mastercardadvisors.com/_assets/pdf/emv_us_aquirers.pdf)

The Verifone can be used standalone with a computer, high speed internet and the CenPOS virtual terminal, or integrated with POS systems, including open source ERP retail POS solutions like OpenBravo. Merchants desiring integrated connectors should contact 3D Merchant services; the connectors are generally not available in POS add-on marketplaces.

Why CenPOS?

  • Processor neutral
  • Least cost routing and interchange optimization reduces merchant fees
  • Reduce PCI Compliance burden
  • One gateway for all sales channels
  • Tokenization supported all sales channels, even retail and mobile
  • Level III processing in retail – if you have commercial account customers, this will save a bundle in fees
  • Scalable: Enterprise user and role management
  • Cloud based reporting for centralized accounting
  • Merchant defined risk & fraud management tools