Tag Archives: online payments

ACH eCheck and Online Payments Solution

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Do you need eCheck services due to mail service disruption from recent disasters like Hurricane Irma and Harvey? Or do you just want to boost cash flow and get paid faster? Online payment solutions are quick, easy, and relatively cheap to implement. Using a third party solution vs bank can be cheaper and provides flexibility to change financial services partners without creating customer friction.

Why use a hosted pay page to accept eChecks?

A payment gateway hosted pay page enables customers to passively pay bills online 24/7 via a secure web page. Payment types may include credit cards, Paypal, ACH (echeck), wire and other methods. Because it’s hosted by a 3rd party PCI level 1 certified service provider, PCI Compliance burden is reduced for merchants that want to accept more than eChecks.

online payments echeckA hosted pay page empowers customers to make secure payments online.

Hosted Pay Page Implementation options:

  1. Direct customers to 3rd party payment gateway custom URL- no change to business web site needed. Just email or text the link.
  2. Link from business web site to 3rd party payment gateway custom URL by updating. Html and pay now graphical button available.
  3. Embed the secure payment object on business web site via iframe html. Customers never leave merchant web site, and even though payment is accepted on the 3rd party web site, an SSL certificate is strongly recommended.

There are other ways to collect ACH and eCheck payments remotely, including our alternative service that enables businesses to push out payment requests via via email or text. This method is proven to increase loyalty as well as reduce time to collect payment and is available for an additional fee. It’s available both integrated or standalone.

eCheck Hosted Pay Page Vendor Selection:

The two key methods to process eChecks are FTP direct to the business bank and 3rd party check processor (Web Payments). With FTP, money is in the bank account when the batch is delivered. With traditional eCheck services money is delivered typically in 2-3 business days. In either case, a payment gateway or technology solution secures the data transmission and facilitates compliance with eCheck processing rules.

Vendor selection checklist- which do you need and which would be nice?

  • ACH with guarantee
  • ACH, no guarantee needed
  • Tokenization for quick repeat payments (no need to enter banking info each time, just select the account)
  • Accounting integration
  • Hosted pay page
  • Other payment types supported
  • Text payment request capability
  • Email payment request capability
  • Hosted pay page (only, no text or email)

Managing Costs with Online Payments:

If you’re just accepting eChecks, you’ll be surprised at just how cheap the service is. If also accepting credit cards, the hosted payment solution selected directly impacts the cost of credit card processing. For example, our solution with Smart Rate Selector automatically optimizes the transaction to qualify for the lowest rate. Compliance with rules are complex and few payment gateways have a solution to comply with every situation. With the right implementation, the cost of card not present transactions are often exactly the same as card present, and can be lower than if employees key enter transactions into a virtual terminal.

Free Hosted Pay Page Info:

  • Quick and easy to set up
  • Optional customer registration to store payment data for repeat purchases
  • Echeck / ACH directly to your bank overnight in most cases
  • Optional ACH with guarantee additional fee
  • If applicable, works with your existing merchant services account
  • Month to month service

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.

Free Hosted Pay Page for Irma Business Disaster Relief

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A hosted online web pay page ensures business cash flow and continuity after a disaster like Hurricane Irma by enabling customers to make online payments from wherever they are. With no USPS mail delivery, businesses that depend on checks in the mail need immediate solutions to get paid. A pay page helps solve the problem for both parties.

A hosted pay page enables customers to passively pay bills online via a secure web page. Payment types may include credit cards, Paypal, ACH (echeck), wire and other methods. Because it’s hosted by a 3rd party PCI level 1 certified service provider, PCI Compliance burden is reduced for merchants.

hosted paypage online payments

A hosted pay page empowers customers to make secure payments online.

Hosted Pay Page Implementation options:

  1. Direct customers to 3rd party custom URL- no change to merchant web site needed. Just email or text the link.
  2. Link from merchant web site to 3rd party custom URL by updating web site. Html and pay now graphical button available.
  3. Embed the secure payment object on merchant web site via iframe html. Customers never leave merchant web site, but payment is accepted on the 3rd party web site.

There are other ways to collect payment remotely, including our alternative service that enables businesses to push out payment requests via via email or text. This method is proven to increase loyalty as well as reduce time to collect payment and is available for an additional fee.

Managing Costs with Online Payments:

The hosted payment solution selected directly impacts the cost of credit card processing. For example, our solution with Smart Rate Selector automatically optimizes the transaction to qualify for the lowest rate. Compliance with rules are complex and few payment gateways have a solution to comply with every situation. With the right implementation, the cost of card not present transactions are often exactly the same as card present, and can be lower than if employees key enter transactions into a virtual terminal.

Mitigating Fraud Losses and Chargebacks:

Merchants can reduce risk of lost credit card disputes and resulting chargebacks with a multifaceted approach:

  • Verify address & zip code
  • Verify CVV / CID security code; if using token billing, prior validation is OK
  • 3-D Secure: Verified by Visa (Vbyv) and MasterCard SecureCode – cardholder authentication shifts fraud liability back to issuer.
  • Comply with transaction authorization rules (it’s complicated, especially if performing an authorization now and capture later.

Free Hosted Pay Page Info:

  • Quick and easy to set up
  • Start-up fee waived
  • Works with your existing merchant services account
  • Echeck / ACH directly to your bank overnight in most cases
  • Optional ACH with guarantee additional fee
  • After power is restored, optionally continue with services at predetermined rate (hosted pay page always included with other services)
  • Available to all businesses impacted by Hurricane Irma or Harvey exclusively through Christine Speedy.

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.

3 Profit Boosters for Lumber, Building Materials, Distribution Companies

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Lumber, building materials, and distribution companies increase profits and cash flow almost instantly with these credit card processing and accounts receivable tips.

  1. Use a credit card processing solution that supports level III processing for retail. Prior to the October 2015 EMV liability shift, there were more companies that offered this, but today, to my knowledge, we offer the only solution that has both US EMV and level 3 retail certification.
    level 3 processing interchange rate

    Sample interchange rates for the same credit card transaction; Failing to qualify for level III is costly.

    Benefit: Potential 1% or more profit margin increase.  TIP: No countertop credit card terminal supports level 3 due to the data that must be sent with transactions; no bank currently offers a level 3 retail solution with US EMV. A cloud-based payment gateway is required.

  2. Ensure key entered transactions are sent for authorization with the MOTO (mail order, telephone order) transaction type indicator. If not, the transaction will default to the highest ‘non-qualified’ interchange rate possible for the card type, and in the event of a dispute, merchant must be able to produce a signed receipt.  TIP: Never key enter on a countertop terminal since it is set up for RETAIL. VX520 emv NFC verifone terminalThe best solution manages proper presentment for processing automatically so employees don’t need to understand the nuances of the best way to process any transaction to qualify for lower rates or mitigate risk.
  3. Enable online payments, with level III credit card processing. By empowering customers to pay 24/7, they’ll pay faster to clear up credit lines to buy more. Also, with cardholder authentication, payment can sometimes be guaranteed against fraud and qualify for even lower interchange rates due to lower risk; key entered transactions carry more risk and while risk can be mitigated, payment is not guaranteed. Accepting alternative methods like ACH, wire, and Paypal will also reduce friction, increase efficiency and increase cash flow.
On the surface negotiated rates are often great, but the right tools are critical to qualify transactions for maximum profits.  The building supply industry, including plumbing, electrical, lumber, windows, doors, stone, marble, flooring, insulation, lighting, fencing, roofing, gutters, appliances and more will greatly benefit from 3D Merchant Services solutions and consulting expertise. Free trial to measure the value with existing merchant account.

Hosted Pay Page vs EBPP – EIPP

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How can a hosted pay page or electronic bill presentment and payment (EBPP), also known as electronic invoice presentment and payment (EIPP) improve your customer experience? Cardholders are increasingly weary about giving out card data over the phone, or worse, via fax, which also has PCI Compliance implications. Reducing friction to collect payments, while putting cardholders in control of their data, is proven to increase sales and cashflow.

A hosted pay page enables customers to passively pay bills online via a secure web page. Payment types may include credit cards, Paypal, ACH (echeck), and other methods. The burden for entering all fields is on the customer. Many payment gateways offer this service free.

hosted paypage online payments

A hosted pay page empowers customers to make secure payments online.

With EBPP, the payment request is delivered to the customer via email or text. Instead of asking customers to find the pay page, the customer is given a link to pay a specific bill or invoice, or multiple invoices, and some of the data may be prefilled. Empowering customers to review and pay multiple invoices on demand by logging into a secure portal is also a significant benefit. With our recommended solution, repeat customers with stored payment methods can pay an invoice in 2 clicks, no login required. Customers prefer EBPP vs hosted pay page. Payment types may include credit cards, Paypal, ACH (echeck), wire, and other methods.

eipp payment request

Body of email containing pre-filled payment info, and link to securely pay online.

Merchants can reduce risk of lost credit card disputes and resulting chargebacks with a multifaceted approach:

  • Ecommerce merchant account is required
  • Verify address & zip code
  • Verify CVV / CID security code; if using token billing, prior validation is OK. You do not need to verify after the first transaction.
  • 3-D Secure: Verified by Visa (Vbyv) and MasterCard SecureCode – cardholder authentication shifts fraud liability back to issuer.  Not all issuers support and implementation varies by payment gateway and other factors. Check the rules to see how it fits in your fraud prevention program.
  • How can a merchant enable customers to remotely pay an invoice, while maximizing security to prevent chargebacks from disputes? A critical step is managing the transaction representment to the issuer. It must be sent with the correct indicator and comply with all rules, including authorization validity
  • Require all B2B customers to confirm copy of the emailed receipt via a company email address. This is overkill for for most, but effective as part of an exception plan.
  • Optional custom procedures may be added based on risk tolerance.

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

UPDATE:  To comply with Visa disclosure and consent rules, only use solutions with a checkbox to opt-in to terms.

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.

Accept Payments Online Merchant Checklist

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accept payments onlineBe wary of sites that list the top 10 best solutions to accept payments online, 10 best payment gateways etc. These sites solicit payment gateway vendors to get on the list. Those who pay the fee get on the list, regardless of whether they’re the best of anything. The vendor checklist below will help businesses that process more than $500,000 annually across all sales channels.

First make a list of needs, then compare to vendor options listed. Because a payment gateway is required for online payments, all questions are specifically for the gateway, regardless of whether the vendor also offers merchant services or check processing.

Circle immediate needs and write F next to potential future needs.

Where does your business want to accept payments now and in the future?

Make a list of all sales channels. The merchant industry impacts complexity of solutions needed. For example, a distributor might payments online, at a distribution outlet, via ecommerce, and ebilling; a law firm might accept payments online, but not in person. A non-profit may need to accept payments online and at events.

  • online payments
  • retail swipe
  • mobile swipe
  • ecommerce
  • einvoice
  • kiosk

Do you need level III processing?

  • Yes
  • No

Qualified merchants with at least a portion of business to business (B2B) or business to government (B2G) customers should require level III processing across all sales channels where payments are accepted. Manufacturers, distributors, and services that are generally business to business usually qualify.

How will the solution help automate interchange management, the bulk of processing fees?

  • Yes, has ‘automated interchange management system’
  • No, does not have ‘automated interchange management system’

If a company offers it, they’ll advertise it because it’s a competitive edge. Probably fewer than 10% offer it. There are many complexities and comparing may be a challenge. For example, if the authorization and settlement amount differ, the transaction will result in additional fees, Unless the solution resolves this difference by obtaining a new authorization. This item can be difficult for merchants to compare from solution to solution, so ask open ended questions.

Do you need online payments for credit cards, ACH or both?

  • credit cards
  • ACH
  • both credit cards and ACH

I once had a software company tell me their vendor had promised for years to provide online ACH. They’re still waiting. Shortlist only providers that process what you need now. Custom online payment forms are easy; Certifications for check or credit card processing is not as simple.

How does merchant know when a payment is received?

  • Email
  • Integrate to accounting or other software (Quickbooks, ERP etc)
  • Online report
  • Other

How does merchant differentiate between online payments and payments key entered by employee or other source?

  • Each payment identifies user that made it
  • Multiple accounts or deposits
  • None
  • Other

Can customers store credit card data?

  • Yes
  • No

Can customers store ACH data?

  • Yes
  • No
  • N/A

Are expiring cards managed proactively? Are customers notified in advance to self update?

  • Yes, proactive
  • No, no advance notice and ability to self update

Can tokens, which replace sensitive card data, be used across all sales channels and or company divisions needed?

  • Yes
  • No
  • N/A

Does the transaction occur on merchant server does user click to hosted payment page?

  • Hosted pay page
  • Merchant web page with iframe
  • Both options

Does it support multi currency processing?

  • Yes
  • No
  • N/A

 

What are customer service communication methods? circle all that apply

  • Phone 24/7 or limited hours
  • email 24/7 or limited hours
  • chat 24/7 or limited hours
  • Designated relationship manager

 

Other questions

  • What reports are available?
  • How long are they available?
  • Can reports be exported?
  • How can reports be shared?
  • How will solution help reduce PCI Compliance burden across all sales channels?

Online Payment Solutions:

  • CenPOS, a processor neutral omnichannel super payment gateway, available globally including United States, Canada, United Kingdom, Europe, Australia, Latin America, South Africa, Asia Pacific, and more. Supports all merchant sales channels, multi currency processing, and level III processing all sales channels. Industry specialties: Automotive, manufacturer, distributor, private duty healthcare, non-profit, education. Free online pay page html5 available.

  • First Data Global Gateway e4, for First Data Merchants only.  Supports all merchant sales channels, level III processing in some sales channels. Industry specialties: Automotive, manufacturer, distributor, private duty healthcare, non-profit, education. Online pay page html available.

  • Authorize.net, a Cybersource/ Visa company, compatible with most processors. The gateway is available in United States, Canada, United Kingdom, Europe, Australia. Online pay page html available.
  • PayPal Pro, requires Paypal payment processing. This is included because of the simplicity and longevity for online payments, however, Paypal differs significantly from all others; payments must be manually transferred to the bank, increasing time to deposit, and fees are netted from every transaction, making reconciliation more challenging.

This list does not include solutions from companies that are registered ISO of Wells Fargo Bank, N.A., because those are First Data resellers. (The text is found on the bottom of many web sites.)