Category: Best Practices for Merchants

DID YOU KNOW?

Businesses run the risk of fraud, but some are more likely to be targeted than others.

Simply being aware that you are operating at a higher risk than normal and putting up your defenses can help you protect your business from online fraud.

By learning more about the types of online fraud, you could experience what to do if you expect a fraudulent transaction. You can also mitigate your risk, even if you sell high-risk items to high-risk customers.

Posted in Best Practices for Merchants, Travel Agency Agents Tagged with: customers, fraud, high risk, online fraud, risk, transaction

Visa Europe Contactless Payments Hits Three Billion

Visa Europe has seen a significant increase in the number of contactless payments (card-present transaction) that it has processed this year, it nearly tripled to three billion.

Visa Europe attributed this increase to merchants integrating tap and pay into their checkout process.

This significant increase was largely due to London’s adoption of contactless technology. The contactless payments were also attributed to the launch of Apple Pay, urging consumers to adopt new payment methods.

Setting the stage for tomorrow’s technology, like wearable devices and mobile payment services making today’s achievement possible.

Posted in Best Practices for Merchants Tagged with: card present, consumers, contactless payments, merchants, mobile payment, ontactless technology, payment methods, services, transaction, visa

MARKETING TOOLS FOR TRAVEL AGENCY

Getting new clients are one of the most time-consuming and expensive parts of running a travel agency.

Here are some travel agency marketing tools that are cost-effective and time-saving to help you.

E-Marketing – email marketing is a key to connecting with your customer on an ongoing basis. You want to make sure you’re in touch since they could plan a trip on a moment’s notice.

Personalized Email Addresses – Gmail is one of the top lists of a free travel agency marketing tool. Gmail is easy-to-use and effectively manages your inbox with labels.

• Gmail is free as long as you have less than 10 email users and each user sends less than 500 emails per day.
• Use your personalized travel agency domain name email address instead of gmail.com.
• Promote your travel agency name using YourName@YourAgencyWebsite.com email address.

CRM Tool – a salesperson’s success usually can be traced back to an efficient sales process. The sales process is the method of sales person takes a perspective customer from lead to a sale.

• Online CRM (Customer Relationship Management) tool can help you manage that process and help you close that sale.
• CRMs are an investment and are an essential travel agency marketing tool.

Website Live Chat – free instant messenger client, a great travel agency marketing tool.

• Choose to interact with the visitor to answer their questions.
• Promote it as another channel existing clients can reach you.
• There’s also a free iPhone app, so you can interact with clients on the go. All for free!

Posted in Best Practices for Merchants, Travel Agency Agents Tagged with: crm, customer, travel, travel agency

E-commerce

Electronic commerce (eCommerce) is a type of business transaction, that involves the transfer of information on the Internet. This allows consumers to exchange goods and services with no barriers of time or distance electronically.
Business-to-Business (B2B) this refers to electronic commerce, between businesses rather than between a business and a consumer. These transactions electronically provide competitive advantages over traditional methods. It’s faster, cheaper and more convenient.
Creating a successful online store can be difficult if you don’t have knowledge of e-commerce and what it is supposed to do for your online business.

What do you need to have an online store?

• Shopping cart – an operating system that allows consumers to buy goods and or services. Track customers, and tie together all aspects of e-commerce into one.
• Or you can check out our NTC e-Pay no shopping cart Solution.
• Taking online payment by getting a merchant account and accept credit cards through an online payment gateway.

You just need to make a better decision in choosing the right shopping cart and a merchant account for your eCommerce shop.

Posted in Best Practices for Merchants, e-commerce & m-commerce Tagged with: b2b, commerce, consumers, credit cards, customers, ecommerce, gateway, merchant, merchant account, NTC e-Pay, online, online payment, payment gateway, shopping cart, transaction

Anti-Money Laundering (AML)

What is (AML) Anti-Money Laundering?

Anti-money laundering (AML) is a set of regulations designed to stop the practice of generating income through illegal actions.
AML regulations place an obligation on financial institutions such as NTC to maintain accurate customer records to ensure they know who their merchants are and the nature of their business and that these institutions are not aiding in money-laundering activities.

Anti-Money Laundering (AML) Break Down:

AML laws and regulations target activities that include

• Corruption of public funds and evasion of tax, as well as all activities that aim to conceal  these deeds
• Market manipulation
• The trade of illegal goods

Financial institutions are expected to comply with Anti-Money Laundering laws and make sure that clients are aware of these laws.

Posted in Best Practices for Merchants, Travel Agency Agents Tagged with: customer, financial institutions, funds, merchants

ACCEPT UnionPay CARDS WITH NTC

To our retailer partners, you are now able to accept UnionPay Cards with National Transaction. No additional steps are required; when a client hands you a UnionPay card just swipe it like you would with any other credit card.

What is UnionPay?

UnionPay was established in 2002 and has become the central and pivotal part of China’s bankcard industry. UnionPay cards are being accepted in 150 countries and regions outside of China. Since 2010, the number of bankcard networking merchants, POS terminals and ATM machines accepting UnionPay cards has increased by 40%, 30%, and 31% respectively. Chinese tourists are a huge strategic market with big profits and great potential for merchants in the US. These cards are currently being accepted at many large companies in North America including Niemen Marcus, Walmart, and Hertz.

Thank you for your business. At National Transaction Corporation our goal is to provide merchants with payment solutions and service beyond their expectations. If you have any questions please contact our Customer Service Department at 888-996-2273.

Posted in Best Practices for Merchants, Credit card Processing Tagged with: bankcard, cards, credit card, merchants, payment, payment solutions, POS, terminals

PREVENT DOUBLE REFUNDS

Preventing double refunds depend on the timing of the chargeback. It is a bit challenging, the key lies in attention to detail.

A chargeback may already exist for the transaction when a customer say they just spoke to their bank. Merchants must pay attention to this big clue.

There are different time limits for resolving disputes before they become actual chargebacks, depending on the issuing bank.

• If customers indicate they did contact their bank, merchants need to call the issuing bank to determine if a case number has been assigned to the transaction dispute.
• If there is a case number that has been assigned, the merchant can disregard the refund request.
  If a case number has not been assigned, merchants need to inform the bank that a refund has been initiated and a chargeback is not necessary.

Preventing Double Refunds Before Chargebacks are Filed

Provide prompt refunds to customers when they are warranted.

• Estimate when the funds will be available.
• Let customers know that a refund has been issued.
• Take care to ensure the credit isn’t process as a debit.

Posted in Best Practices for Merchants, Travel Agency Agents Tagged with: bank, chargeback, credit, customer, debit, merchants, refunds, transaction

WHAT ARE DOUBLE REFUNDS? 

Double refunds are when a customer is provided with two refunds for the same transaction. Chargebacks can be involved in a double refund.

Double Refunds Happen When:

Chargebacks are filed after a refund is issued. The consumer contacts the merchant and requests a refund, but the funds aren’t returned immediately. The consumer thinks the request for the refund was ignored and files a chargeback. Then both the chargeback and the refund are being processed.

Chargebacks are filed before a refund is issued. The consumer calls the bank and initiates a chargeback. Then, the consumer calls the merchant and expresses dissatisfaction. To try to avoid a chargeback, the merchant provides a refund. However, the merchant has no idea of the fact that a chargeback has already been filed because the consumer calls the bank first

Even thou a merchant provided a refund with a customer that doesn’t guarantee that a chargeback won’t be initiated. Same thing with chargeback that has been filed doesn’t guarantee that customer won’t contact the merchant and demand a refund as well.

Just because a merchant provided a customer with a refund that doesn’t guarantee that a chargeback won’t be initiated. Same thing with chargeback that has been filed doesn’t guarantee that customer won’t contact the merchant and demand a refund as well.

It is possible for the customer to receive a double refund for the one purchase transaction.

Posted in Best Practices for Merchants, Travel Agency Agents Tagged with: bank, chargebacks, consumer, customer, merchant, refunds, transaction

DATA BREACH

A data breach is any instance in which secure data information has been released or stolen intentionally or unintentionally. The organization that exposed or lost your information will notify you. The steps you should take depend on the type of information that was lost or stolen. In general, you may choose to do one or more of the following:

• Monitor all bank and other accounts for suspicious activity.
• Change all passwords, PINs, or user names associated with compromised accounts.
• Order a copy of your credit report.
• Place a fraud alert or credit freeze on your credit file.

Posted in Best Practices for Merchants, Credit Card Security, Travel Agency Agents Tagged with: accounts, bank, credit, data, data breach, fraud

BE CYBER SECURE

Businesses or merchants accepting payments online needs an up-to-date and active security software that includes:

• FIREWALL PROTECTION – a software program that helps to screen out malware and hackers that try to reach you through the internet.
• ANTI-VIRUS PROGRAMS – Not all anti-virus program offers protection against all kinds of malware. Viruses are one type of malware. Spyware is another type of malware that can steal credit card information or your bank account.

Update:

• Keeping your operating systems, security software programs, and browser current can help secure your data information.
• Evaluate browser’s privacy settings, limit or disable cookies. Other cookies can be used maliciously and collect data information.
• Back up your data regularly. If your computer or device got compromised, you still have access to important files.

Need to set up an account give us a call at 888-996-2273

Posted in Best Practices for Merchants, Credit Card Security Tagged with: bank account, credit card, data, merchants, online, payments, Security