Category: Best Practices for Merchants
June 21st, 2017 by Elma Jane
How and when you get paid for your products and services is one of the most important thing to consider as a business owner. Therefore, understanding the difference between getting your payments processed over the internet vs. a brick and mortar store is important.
You can choose to have an in-store terminal or POS system where you can do card present transaction, or you could have an online payments account to accept card-not-present transaction from your website, via emailed invoices, over the phone or by mail.
Nowadays, many businesses choose to have both card present and card-not-present payment acceptance, so they don’t miss out any potential business. Having both is an effective way to ensure costumers can pay however they want.
Card present or in-store payments will have lower processing fees than those payments accepted online or over the phone (card-not-present). The reason for this is that the risk for fraud increases in online and other card not present transactions.
There is less risk associated with a business swiping a credit card than keying it in. Why? When a card is swiped, a person is present; where the merchant can check ID and signature. When a person is not present, it’s open for consumer fraud.
Choose your Payment Service Provider carefully. There are payment providers that are experts in each type of industry as well as providers that can process payments in all of them.
It is important to take fees into consideration, but don’t let the benefits outweigh the risks. Choose a provider that offers free reporting tool and delivers outstanding service where you can speak to someone when you call.
For Electronic Payment Set Up Call Now 888-996-2273
or go to NationalTransaction.Com
Posted in Best Practices for Merchants
June 6th, 2017 by Elma Jane
Need Electronic Payment Set Up?
NTC will manage your paperwork and onboarding and we can negotiate other flexible terms of your contract.
The quality of NTC’s services, plus the level of continuing customer support, will be the key difference.
Being transparent and straightforward that’s NTC!
Call NTC now 888-966-2273! or click here NationalTransaction.Com to get started!
Posted in Best Practices for Merchants Tagged with: electronic payment
May 31st, 2017 by Elma Jane
If you’re a retail business you’re going to need a credit card terminal to accept credit cards, and if you have multiple locations; you might need more than one terminal.
Obtaining terminals for your business with multiple locations can be expensive. Because of this, some merchants used leasing arrangements which they think that monthly leasing fee might seem like a bargain compared to the cost of buying a terminal.
One provision of the lease is: Non-Cancelable Lease
Leases commonly have a 48-month (four-year) term, and a clause that makes the lease completely non-cancelable.
They also have a purchase option at the end of the lease. You must exercise your option to end the lease.
In a non-cancelable provision, they’ll keep deducting monthly leasing fees from your account regardless of anything, or an immediate payment of all remaining months of your contract if you break your lease.
In addition to monthly leasing fee, you’ll also pay sales tax and a monthly equipment insurance fee; while you can purchase it for as low as $150-$200.
Beware of free terminal offers, other providers will offer a free terminal, but they also charge higher monthly fees if you elect the free terminal. So the terminal isn’t really FREE.
For Electronic Payment Set Up Call now 888-996-2273 or go to NationalTransaction.Com
Posted in Best Practices for Merchants, Electronic Payments Tagged with: credit card, electronic payment, merchants, payment, terminal
May 15th, 2017 by Elma Jane
Process Your Travel Agency Payments For Less. Get 100% Funding The Next Day!
Call now 888-996-2273 or sign up here NationalTransaction.com
Posted in Best Practices for Merchants, Travel Agency Agents Tagged with: merchant, payments, travel, travel agency
May 11th, 2017 by Elma Jane
Three Domain Secure (3-D Secure)
Visa is announcing a global plan to support 3-D Secure 2.0 to help protect e-commerce transactions.
3-D Secure (3DS) – stands for Three-Domain Secure. A messaging protocol to enable consumers to authenticate themselves with their card issuer when making card-not-present (CNP) e-commerce purchases. 3DS is an additional security layer that will help prevent unauthorized CNP transactions and protects the merchant from CNP exposure to fraud.
The three domains consist of:
The merchant/acquirer domain
Issuer domain
the interoperability domain (payment systems)
The purpose of the 3DS protocol within the payments community is to facilitate the exchange of data between the merchant, cardholder and card issuer. The objective is to benefit each of these parties by providing the ability to authenticate cardholders during a CNP e-commerce purchase, reducing fraud.
Visa currently offers its 3-D Secure service through the Verified by Visa program, which supports the existing 3-D Secure 1.0 specifications for consumer authentication.
Visa anticipates that early adoption of 3-D Secure 2.0 will begin in the second half of 2017.
Merchants that authenticate transactions using 3-D Secure are generally protected from issuer card-not-present fraud-related chargeback claims,1 and this rule will extend to merchant-attempted 3-D Secure 2.0 transactions after 12 April 2019, the global program activation date.
For Electronic Payment Set Up go to NationalTransaction.Com or call now 888-996-2273!
Posted in Best Practices for Merchants Tagged with: card, card-not-present, cnp, data, e-commerce, electronic payment, merchant, payment, Security, transactions
May 10th, 2017 by Elma Jane
Mobile Wallet Technology have flooded the market in the last few years with offerings such as Apple Pay, Android pay, Samsung Pay and more. And so far, they seem to be succeeding.
To understand how contactless payments work, here is an example.
A smart phone like Android or iPhone allows you to take advantage of mobile wallets like Android Pay, Apple Pay or Samsung Pay. You input your credit card information onto your phone, which stores it for later use.
If you’re shopping at a store that has mobile payment readers at the register, rather than reach for your wallet and get your credit card; you take out your phone to make a payment.
The point-of-sale (POS) terminal will automatically reads the payment information stored by holding your mobile phone a few inches away from the POS, and then processes the transaction. When the mobile device is in range, a wireless communication protocol links the terminal and the phone, which exchange information and conduct a secure transaction in a fraction of a second.
Near-field communication or NFC technology, works by bringing together two electronic devices. In terms of payments technology, a mobile device such as a smartphone and a reader. The reader would be the initiator and the smartphone would be the target, which contains the stored credit card information.
The market potential for NFC payment technology is huge, as more merchants adopt the EMV. EMV compliant terminals accept NFC payments through mobile wallets.
For Electronic Payment set up call now 888-996-2273!
Posted in Best Practices for Merchants, Credit Card Reader Terminal, Mobile Payments, Near Field Communication, Smartphone Tagged with: contactless payments, credit card, electronic payment, merchants, mobile wallets, Near Field Communication, nfc, point of sale, POS, smart phone, terminal
May 8th, 2017 by Elma Jane
Tips for preventing funding delays!
If you’re running an unusual transaction and know of it beforehand, let your merchant provider know; sending an invoice in advance can cut processing time.
Make sure to give your most up to date information. Keeping provider in the loop on the fluctuations in your processing volumes will help tremendously, especially as your business grows.
Funding delays are an inconvenience, but being prepared can keep the delay to a minimum. If you keep these tips in mind, you’ll be processing without ever having to worry about delays again.
Flagged, Security and Review Process
Why some merchant accounts hold funds and others do not?
There are a number of reasons:
Underwriting merchant account is ongoing. Imagine a small business convenience store was set up and accidentally enters $1,000.000 should we transfer that or hold it?
One reason is something has gone with that particular business account.
Another reason could be that particular institution’s practices are more efficient than others.
Financial institutions use different payment processing systems, and they are not uniform in their practices. For this reason, some transactions are significantly faster than others.
Though there are other reasons funds get held, the main reason for this occurrence is when a payment is out of the ordinary patterns.
Unusual transactions are any transaction that vary from your typical processing patterns.
If It’s for security, an account will be flag as a way to reduce fraud as well as ensuring no one is using your account.
How do I know if I’m flagged?
Security checks are carried out by processing banks or processor. You’ll be contacted by a loss prevention officer. They’ll provide all details of the hold, including the review process as well as the next steps.
What’s the review process?
The review is simply to verify your transaction before delivering your funds. A typical review is confirming the transaction with yourself as well as your customer’s credit card company. You’ll speak briefly with a loss prevention officer to discuss the transaction. If further review is required, the loss prevention officer may ask you for a copy of the transaction’s invoice.
How can I speed up the process?
For an easy review, make sure to provide detailed documents. When an invoice is asked for, make sure it clearly shows the following:
- Product Description of Items Sold
- Your Customer’s Name
- Address
- Phone Number
For Electronic Payment set up call now 888-996-2273 or go to NationalTransaction.Com
Posted in Best Practices for Merchants Tagged with: credit card, electronic payment, funds, merchant provider, processor, Security, transaction
May 3rd, 2017 by Elma Jane
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Receive 25 points when you join Klosebuy and another 25 points for favoring NTC as business ($5.00 value).
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Refer your friends and you both get 100 points when they join ($10.00 value).
Don’t have a smart phone? Join Klosebuy at www.klosebuy.com. We look forward to seeing you soon.
Posted in Best Practices for Merchants
May 2nd, 2017 by Elma Jane
Automated Account Updater
Avoid declined recurring payments with automated Account Updater.
Target Market: Merchants that accept regular recurring monthly donations like church, or recurring monthly tuition payments for schools or any regular customer you need to invoice.
Account updater advantage – Increased Sales and Retention, Reduce Customer Costs and Reduced Operating and Processing Costs.
Convenient and Transparent Account Updates
Account updater – is a service to automatically update the cards on file. These tools are used to ensure the success of recurring payments. This makes the account update process convenient with little effort by the cardholder to maintain a seamless and transparent update of card account information.
For Electronic Payments Set up and account Updater call now 888-996-2273
Or click here NationalTransaction.Com
Posted in Best Practices for Merchants Tagged with: card, electronic payments, merchants, payments
April 28th, 2017 by Elma Jane
Advantage Benefits and Perks Program
Start saving and get 30 day FREE trial with NTC’s Advantage Benefits and perks Program Exclusive to our Merchants!
Focuses on delivering discounts that will help our merchants reduce operating business expenses.
For more information call now 888-996-2273!
Posted in Best Practices for Merchants
