Worlds Only 3rd Party Omnichannel Payment Gateway Meeting Big Ticket Needs

Businesses with some element of B2B and retail sales of high dollar value goods, have unique omnichannel needs. CenPOS is the only omnichannel payment gateway that meets them. The critical needs are level III processing, interchange management, tokenization, EMV, 3Dsecure, tokenization, online payments, processor neutral, PCI Compliant credit card authorization form, signature capture, pin debit, and payments segregated from applications for PCI Compliance. 

Level III processing

Level III processing is nearly impossible to find for retail, however merchant savings are huge, and when battling low margins, it’s critical.

Example of a wew low interchange rate a merchant transaction qualified for.

Example of a low interchange rate a merchant transaction qualified for vs 2.65% without CenPOS.

Interchange Management

Interchange qualification is extremely complex, and the only way to manage it is via an automated system, which must be in the cloud to be current. It’s impossible to train or rely on employees to make the right decisions to mitigate risk and fees. For example, when a merchant key enters a transaction with other solutions, the transaction is ‘non-qualified’ because mag stripe data isn’t sent. CenPOS dynamically identifies the transaction requirements, and prompts for actions to ensure the merchant qualifies for the lowest card not present rate, which is usually lower than the non-qualified retail swipe rate.

Tokenization

Variable recurring, fixed recurring, installment, and scheduled mixed payments are all available. Customers can manage their own tokens via the internet, which are instantly available to those with permission to the Virtual Terminal.

EMV and 3Dsecure certified

A lot of equipment is available that’s EMV chip card ready, but very few others can actually accept EMV today. As EMV picks up steam, online fraud is expected to increase and 3Dsecure will help merchant mitigate that risk. Can you name how many independent gateways are certified for both?

emv smart card

EMV chip smart card.

Online Payments

Per Visa Core Rules October 2014, merchants cannot request CVV2 on any paper form. To mitigate risk, merchants need CVV2 (for the first transaction if stored). Online payments via a hosted pay page or electronic bill presentment and payment (EBPP) are the most secure way to validate a card so that card data is never accessible by employees.

Processor Neutral

Companies want flexibility to choose their own financial processors, including merchant account processor. CenPOS is certified to processors globally.

PCI Compliant credit card authorization form

Credit card authorization forms have been a critical part of B2B process to ensure they won’t get burned with a chargeback at a later date. The problem is they’re a PCI nightmare and CVV2 can’t be on them. CenPOS automatically generates a PCI Compliant recurring billing authorization form that merchants can ask their customers to sign.

Multilane Signature Capture

Signature capture is mandatory for back office efficiencies for customer service, defending disputes to prevent chargebacks, and reducing audit costs.multi-lane signature capture terminal l5200

Pin Debit

  • Reduces dispute time from 120 days to 14 days
  • Reduces fees, even for regulated debit, by avoiding dues and assessments
  • Mitigates risk of merchant losing fraud disputes

Payments Segregated From Applications

CenPOS solutions can be used standalone or integrated. Many connectors, modules and integrations are available as well as easy to implement API’s.

CenPOS is uniquely the worlds only gateway to offer every solution above, critical for merchants to mitigate risk, reduce PCI compliance burden, and increase EBITDA. HVAC, building supply, electrical, industrial supply, truck, automotive, parts dealers, and appliance dealers are examples of high dollar ticket merchants that want the above solutions and more.

 

 

EMV terminal buyers guide

Tips before selecting an EMV terminal for credit card processing. Which is better, desktop or multilane?  Which model is right for my business? Should I buy an extended warranty?

Merchants should be aware that all terminals in this article are EMV ready, but that doesn’t mean you can buy and start accepting EMV immediately. That’s because every terminal model has to be certified to each processor, and that process is woefully incomplete. Sticking with the top brands, Verifone, Ingenico, and Equinox (formerly Hypercom), and models will be the fastest path to accepting EMV.  All processors expect certifications to be complete by the October 2015 liability shift.

Should I buy a desktop or multilane signature capture EMV terminal ?

The answer is not black and white.

Choose multi-lane EMV terminal if:

  • Business to consumer and business to business
  • Mixed card present and card not present
  • Higher risk of fraud and disputes
  • Multiple locations, centralized or remote accounting and reconciliation
  • Using a cloud based point of sale or payment processing solution

Choose desktop EMV terminal if:

  • Merchant sells to consumers
  • Low dollar volume (under $20,000 per month), low fraud risk

If you’re not sure, contact a consultant for advice. The more complex your payment needs, the more likely multilane is a better choice.

Which model should I buy?

Because every terminal has to be certified to every processor for any connection, please contact your relationship manager before making a terminal decision. For example, the CenPOS certification for Verifone MX915 to First Data is for CenPOS only; First Data merchants can’t buy the Verifone MX915 and use with a different virtual terminal, unless it’s also been certified.  Due to time and expense, vendors will likely minimize terminal certifications by model and processor. 

  • Multi-lane- They’re more like a mini computer, and with a higher investment, but there are also more efficiencies and other benefits to be gained. For each brand there are multiple choices, the lowest cost option is suitable for any business, and has the smallest footprint. The Ingenico ISC250 and 350 are especially flat and may require a permanent terminal stand. So far, my customers have had no problems with the Verifone MX915 and its EMV certified today. The Equinox L5200 has also been extremely reliable. The L5200 is the lowest cost unit my customers have extensive experience with.
  • Desktop – Verifone VX520, Ingenico ICT series or First Data

Verifone VX520 terminal with EMV NFC Contactless $99 Sale

VX520 emv NFC verifone terminal

Ingenico ING, iCT220, v3, 160Mb, Dial/Ethernet, Terminal/Printer/PIN Pad/SCR/Contactless and iCT250

ict250 ingenico emv terminal

 First Data FD130 or FD35, a pin pad peripheral; compatible only with First Data. I’ve never been a fan of buying a terminal that is processor specific. There’s a multitude of reasons a business might need to change processors at some point.

Which EMV terminals are compatible with CenPOS payment platform?

  • Verifone MX915 is certified with First Data today;  more processors are in progress.
  • Ingenico ISC 250 will be certified by October
  • Equinox L5200 will be certified by October
  • Check with your relationship manager for compatibility with your specific merchant processor

Should I buy an extended warranty?

For multi-lane, yes.  Without it, repairs are usually 8 weeks plus, and start at $150 average just to assess the problem. That brings the starting price to about $650 with all peripherals, programming, and 5 year warranty. For desktop, it depends on how mission critical it is. If you don’t have an overnight replacement guarantee or backup plan, you’ll have no way to accept payments while out for repair. This might be OK if you have multiple terminals, but not if it’s the only way to accept payments.

Where can I buy terminals?

Your merchant account salesperson can handle everything. If you buy from a 3rd party, make sure it’s a reputable source. Terminals have been injected with malware so buyer beware. Additionally, terminals may need to be injected with confidential pin debit or P2PE keys at a secure approved facility.

Wholesale prices are available through Christine Speedy, 3D Merchant Services,  for all customers using our other services. A new merchant account is NOT required to buy a multi-lane terminal if buying our gateway services;

Click here to learn about the $100 American Express EMV Upgrade Rebate.

Multi-lane signature capture terminals require a payment gateway to function. Contact us for omnichannel payment gateway to use standalone or with light integration to any POS. ERP or accounting software. Our solutions segregate payments from your applications to reduce PCI Compliance scope.

 

Verifone MX915 multilane signature capture terminal EMV POS solution

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

Cheapest Multi-Lane Signature Capture Terminal Review L5200

multi-lane signature capture terminal l5200The Equinox L5200 is a reliable multi-lane terminal, and at a lower price than comparable Verifone and Ingenico signature capture terminals.

Over the years, our clients have used all the top three brands with varying reliability.  When buying a car, you can easily define good, better, best. That’s not so with multi-lane terminals.

Multi-Lane Differentiating Questions:

  • Will the unit fit in the space I have?
  • Do I have to get a stand for it?
  • Is the screen durable enough for my volume?
  • What is the cost of the extended warranty?
  • How long has it been in the market? (New product lines may have reliability problems.) Or, what’s been the reliability experience with similar customers?

The L5200 has a sister product, the L5300, which is basically the same product, but with a bigger screen. The L5200 is ideal for automotive, truck, distributors, business to business, and any retail locations desiring a reliable signature capture terminal, a small footprint, and not requiring an permanent stand.

Multi-lane Software: What will drive the units?

The L5200 can be used standalone with any virtual terminal that supports multi-lane, and with POS applications. For example, they can be used with CenPOS, a universal payment gateway with virtual terminal. Contact 3D Merchant Services for CenPOS connectors for open source ERP retail software such as OpenBravo.

CenPOS L5200 supported features include:

  • Contactless (NFC), including ApplePay, Google Wallet
  • P2PE (Point to Point encryption)
  • Pin debit
  • EMV ready (EMV certification imminent)

 

CenPOS certifies with Apple Pay and Google Wallet

cenpos payments logoCenPOS certifies with Apple Pay and Google Wallet, supporting the mobile payment technology on select multi-lane devices. Miami, FL (PRWEB) February 23, 2015.

CenPOS, a payment technology provider, today announced that it has certified Apple Pay and Google Wallet to its payment-processing platform. This new certification marks another milestone for CenPOS in its quest to provide their customer base around the globe with a rich payment acceptance offering. The Apple Pay and Google Wallet payment options are supported by CenPOS on the Verifone and Equinox multi-lane devices. Apple Pay and Google Wallet are transforming the mobile payment space for consumers and businesses alike by making it easy and secure for all parties.

The adoption of mobile payments continues to grow in record numbers. There are only 1.3 billion active credit and debit accounts globally, but considering that there are more than 5 billion active mobile phone accounts, there is potential for widespread application of mobile payments, according to Omlis, a global mobile payments solutions provider. Mobile transactions have almost doubled since last year, now accounting for 17% of transactions made. Juniper Research predicts that this trend will continue to rise and will reach 450 million mobile payment consumers by 2017. The global adoption of mobile payments is on an upward curve, but traction is dependent on consumers’ access to technologies, varying lifestyle choices, and economic factors.
“We are delighted to bring these new services to our clients and enable them to offer their consumers with new and innovative payment options” commented German Gonzalez CenPOS’s Co-Founder and Chief Technology Officer. “Today we are one of the very few payment processors in the US that is both EMV and 3D Secure certified. We continue to drive our products, services and solutions to meet merchant, consumer and partner needs. Our entire team is passionate about delivering value and value add services to our clients; more importantly, always being on the leading edge of technology”, added Gonzalez.
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.

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