Category: Best Practices for Merchants
August 30th, 2016 by Elma Jane
NTC’S 20th Anniversary! October 7th, Friday at our sales office come join us.
As part of our celebration we have Lincoln Kokoram to do a brief Sales Training on How to Overcome Telephone Objections. 11am-3pm.
In addition, Mark Fravel, Founder/President of National Transaction; will have his FYI remarks from what he learned for over 20 years in the Payment Industry, while building a strong relationship with his partners’ and exceeded excellence in his company. 3pm-5pm
Cocktail Dinner will follow!
Come celebrate with us RSVP needed before September 30th.
Please contact or email Elaine Zamora at 888-996-2273 Extension 1111 elaine@nationaltransaction.com
Check our website: www.nationaltransaction.com/ www.ziebest.com/national/
Posted in Best Practices for Merchants, nationaltransaction.com Tagged with: payment, payment industry, transaction
August 29th, 2016 by Elma Jane
ASTA Global Convention in Reno! We Look forward seeing you at Booth # 92. Please stop by and say hello! September 25-28.
We offer ASTA Travel Agents opportunity to get paid. 100% next day while you can be your own host agency with No Reserve.
Our expertise is Travel, and we have been in this industry for over 13 years. There is No sign up fee or cancellation fee. TRAMS Sabre Solution integration or any back office GDS system.
We can perform a free statement analysis in addition, to see if we can help reduce your current fees and charges. We will also Meet or Beat other processor’s rates and fees!
If you would like to Make an appointment with us during the ASTA EVENT, please contact or email Elaine Zamora at 888-996-2273 Extension 1111 elaine@nationaltransction.com
Please feel free to visit our website: www.nationaltransaction.com www.ziebest.com/national/
Posted in Best Practices for Merchants, Travel Agency Agents Tagged with: travel, travel agents
August 25th, 2016 by Elma Jane
Chargeback bumps still not clear, yet some says consumers are taking advantage of the chargeback system, while others think this increase is due to EMV implementation. Same as other countries experienced.
Whatever the reason, these chargebacks are causing stir in the payments industry.
Merchants should know two facts because of the tide in chargebacks:
- Merchants should not be accountable for chargebacks on valid, non-fraudulent cards without chips.
- Additionally, merchants who do not have EMV terminals are at a higher risk for fraud.
- The merchant is held responsible not the bank if fraud is involved as a result of card swipe.
There are a few things that merchants can do to prevent chargebacks.
- Always swipe non-chip cards rather doing it manually.
- Ask for a signature and verify each transaction.
- Be on the lookout for fraudulent cards.
- EMV chip card should not be swipe or manually keyed in.
- Follow chip card processing procedures, insert them correctly and guide your customers through the chip transaction process.
- If the chip card payment fails, ask for an alternate form of payment. Most of all do not override or swipe the chip card.
- If you have to manually enter a card number, use the security code, check the expiration date and further more take an imprint.
Better be equipped to stop chargebacks by adopting few changes in your business before they happen. If your business is not yet EMV compliant, give us a call at 888-996-2273 or visit us at www.nationaltransction.com
Posted in Best Practices for Merchants, EMV EuroPay MasterCard Visa Tagged with: chargeback, EMV, fraud, merchants, payments, terminals
August 23rd, 2016 by Elma Jane
Bank claims that they no longer support QuickBooks Direct Connect as of May 2016. As a result of product changes. It would be nice if QuickBooks would take time and prominently post that fact.
For those interested in QuickBooks plugin NTC has a special offer for the next 30 days!
In conclusion, QuickBooks geared mainly toward small and medium-sized businesses and also offer on business premises accounting applications as well as cloud based version that accept business payments, manage and pay bills, and payroll functions.
For more information about your payment needs give us a call at 888-996-2273 or go to www.nationaltransaction.com
Posted in Best Practices for Merchants Tagged with: bank, payments
August 22nd, 2016 by Elma Jane
National Transaction 20th Anniversary
Join National Transaction at our Sales Office, in celebration of our 20th Anniversary. October 7th Friday, from 11am until 3pm.
As part of our celebration we have Lincoln Kokoram to do a brief Sales Training on How to Overcome Telephone Objections.
Lincoln Kokoram has been conducting seminars, workshops and platform speaking for the past 32 years. And having trained in over 35 countries.
In addition, Mark Fravel, founder/President of National Transaction; will have his FYI remarks from what he learned for over 20 years in the payment industry while building a strong relationship with his partners’ and exceeded excellence in his company.
Come celebrate with us and attend the training! RSVP needed before September 30th.
Call us at 888-996-2273 or go to www.nationaltransaction.com for more information.
Posted in Best Practices for Merchants Tagged with: payment, payment industry, transaction
August 19th, 2016 by Elma Jane
Merchant aggregator is an entity that can run many transactions through a single merchant account, an opposite to the traditional account since you’re the sole owner.
Preferred for a smaller business because its not intended as a long term scalable solution to accepting payments.
For businesses that want to expand their processing needs, traditional merchant account will outgrow an aggregator, since the goal is for a business to grow, but it will always come to what’s best for individual business.
While you have the pros of quick application process and instant approval there are a lot of cons to check before getting an aggregator account.
CONS of an aggregator account:
CUSTOMER SERVICE – aggregators are hard to get hold of.
FEES – fixed fees .
FREQUENT HOLDS and DELAY OF FUNDS – aggregators hold funds 24-48 hours before depositing, while longer holds occur 30 days.
LOWER LIMITS – processing limits lower, annual limit of $100k.
PROS of a Traditional Account:
CUSTOMER SERVICE – 24/7 technical support.
FUNDS – next day funding, no frequent account holds.
FEES – tailored to your business needs.
LIMITS – varies by financial strength and business
For more information in setting up an account with NTC give us a call at 888-996-2273 or go to www.nationaltransaction.com
Posted in Best Practices for Merchants, Merchant Services Account Tagged with: fees, funds, merchant account, Merchant aggregator, payments, transactions
August 11th, 2016 by Elma Jane
CURRENCY CONVERSION
Multi Currency Conversion (MCC):
In addition to 100+ supported currencies and all transactions autosettle at 6pm (eastern) daily.
Customer is unaware of the converted currency, also customer may not opt-out at the point of sale.
Conversion occurs between the point of sale and settlement.
E-commerce only and no merchant rebate.
Price listed in customer’s currency conversion also Supported by Internet Secure or direct certification.
Dynamic Currency Conversion (DCC): Customer is aware of the Conversion Currency, also customer may opt-out at the point of sale.
Conversion occurs at the point of sale and five supported currencies less than MCC.
Merchants may choose settlement method and time in addition to merchant rebate up to 100bp.
Price listed in merchant’s currency conversion.
For Retail, Restaurant, MOTO and E-commerce.
Supported by terminals, via Warp and Virtual Merchant.
Posted in Best Practices for Merchants, e-commerce & m-commerce, Mail Order Telephone Order, Point of Sale Tagged with: currency, customer, DCC, Dynamic Currency Conversion, e-commerce, Internet Secure, MCC, merchant, moto, Multi Currency Conversion, point of sale, retail, terminals, transactions, virtual merchant
August 9th, 2016 by Elma Jane
Businesses are discouraged from storing credit card data, but many feel the practice is necessary in order to facilitate recurring payments. Merchants that need to store credit card data are doing it for recurring billing.
Using a third party vault provider is the best way to store credit card data for recurring billing, it helps reduce or eliminate the need for electronically stored cardholder data while still maintaining current business processes. The risk of storing card data is removed from your possession and you are given back a token that can be used for the purpose of recurring billing, by utilizing a vault. Modern payment gateways allow card tokenization.
Any business that storing data via hard copy needs to review and follow PCI DSS requirement in order for the electronic storage of cardholder data to be PCI compliant. Appropriate encryption must be applied to the PAN (primary account number). In this situation, the numbers in the electronic file should be encrypted either at the column level, file level or disk level.
Posted in Best Practices for Merchants, Payment Card Industry PCI Security, Travel Agency Agents Tagged with: cardholder, credit card, data, merchants, payment gateways, payments, PCI, provider, tokenization
August 3rd, 2016 by Elma Jane
National Transaction offer valuable features and benefits. If you want to improve your business’s productivity, you should look for this features that you need from your merchant account provider.
Advanced Security Options – did you know that 6 out of 10 small businesses close within six months of a card data breach? Point-of-Sale devices should have appropriate security measures, particularly EMV, encryption and tokenization. With National Transaction we have Safe-T for Small and Medium Businesses and Safe-T for Large Businesses. Top-tier security is important on all your business’s data especially customer information, consider adding additional authentication procedures. Merchant account providers bundle various security features to make the process of becoming secure.
Fast Payment Processing – having up-to-date technology is the first step because some customers might become annoyed by slow service and leave. The sooner you have the money processed by your merchant account provider, the bigger and stronger your business can become. NTC is adept at administering payments quickly and efficiently. We can provide regular funding or next day funding.
Feature Flexibility – Look for a merchant provider that appropriately addresses your payment concerns. Obtaining the features you need from your merchant services provider is very important.
Mobile Payment Processing – NTC offer Virtual Merchant/Converge Mobile that gives you the ability to accept payments using your smartphone or tablet anywhere you go. The app works with most Apple and Android mobile devices. You can accept key-entered transactions or swipe cards using an encryption reader. You can now take chip card payments using Ingenico iCMP PIN Pad. Merchants who aren’t mobile payment capable do demonstrate unwillingness to progress with payment technology and might lose customers eventually.
Reliable Customer Support – NTC is available 24/7 answering the phone by humans and not automated systems. You got support with your hardware, answer questions and guide you to better understand the process. Customer support is perhaps the most important feature of any business partnership you make. You don’t want to choose the wrong provider.
Up-to-Date Tech – futuristic features, like mobile payment abilities, EMV/NFC, contactless payments are worth investing. Modern consumers are generally more familiar with up-to-date payment systems. Seeing a merchant service provider offer a swipe-only terminal should be a red flag, because the recent regulations require merchants to have EMV to provide better data security.
Posted in Best Practices for Merchants, EMV EuroPay MasterCard Visa, Financial Services, Merchant Account Services News Articles, Merchant Services Account, Mobile Payments, Mobile Point of Sale, Small Business Improvement, Travel Agency Agents Tagged with: account, Breach, card data, chip card, customer, EMV, encryption, merchant, mobile, payment, point of sale, provider, Security, tokenization, transactions
August 2nd, 2016 by Elma Jane
Credit card machine or point of sale terminals are used for processing debit and credit card transactions and are often integrated into a Point of Sale System. Let’s take a look at the POS terminal evolution.
Manual Imprinters – although the process was time consuming and did not offer the speed or instant transfer capabilities, manual imprinters have been around since the start of a wide acceptance of credit cards. Manual imprinters are still widely used and are considered a great backup processing method.
Electronic Authorizations – Merchants had the choice of calling in for an authorization or imprinting their transactions. The first electronic credit card authorizations were done over the phone, but many businesses opted voice authorization only on larger transactions because of the long waiting time for authorizing a transaction over the phone,
Point of Sale Terminals: Point of sale terminals emerged in 1979, which was a turning point in the credit card processing industry. Visa introduced a bulky electronic data capturing terminal. This was the first of credit card machine or terminal as we know them today, it has greatly reduced the time required to process a credit card. MasterCharge became MasterCard in the same year and credit cards were replaced to include a magnetic information stripe which now has become EMV/chip and PIN.
The Future: There’s a lot of room for advancement when it comes to Credit card processing technology. Increasing processing speed, reliability and security are driving forces behind processing technology advancement. Today’s credit card terminals are faster and more reliable with convenient new capabilities including contactless and Mobile NFC acceptance. The processing industry will definitely be adapting new technologies in the near future and has a lot to look forward to.
Posted in Best Practices for Merchants, Credit Card Reader Terminal, EMV EuroPay MasterCard Visa, Near Field Communication Tagged with: credit card, credit card machine, debit, electronic credit card, Electronic Data, EMV/chip, merchants, mobile, nfc, PIN, point of sale, POS, processing industry, terminals, transactions, visa
