Category: Best Practices for Merchants
March 15th, 2017 by Elma Jane
Payment Options
Technology continues to evolve, offering multiple billing and payment methods increases satisfaction by improving customer experience.
Customers will continue to move toward digital life, like embracing different forms of online billing and ways to accept payments.
Creating convenient ways to accept payments and having more options can reduce the time it takes your business to get paid.
Accept debit and credit card payments online; to offer this feature you need to get a merchant account.
Options for accepting payments:
Electronic Check Service (ECS) – convert paper checks to electronic transactions, with NTC’s ECS. Converting paper checks to electronic transactions eliminates many of the risks and costs, adding money to your bottom line.
Mobile Payments – the opportunity to increase revenue through mobile payments is huge. Many consumers find that mobile bill pay makes shopping easier, more convenient and saves time. Converge Mobile Solution lets you accept card payments using smartphone or tablet. The app works with most Apple and Android mobile devices.
Online Payment Gateway – offering customers an online payment form enables them to pay you easily and allows you to accept payments by credit card, debit card or echeck.
Electronic Invoicing (NTC ePay) – send your customers an invoice by email and get paid in minutes. Electronic Invoicing gives your customer the ability to pay their bills and receive a receipt in seconds by email.
Learn more about accepting electronic payments with NTC or sign up with us.
No setup or cancellation fees, there’s no risk! call now 888-996-2273
Posted in Best Practices for Merchants Tagged with: credit card, customer, debit, echeck, ECS, Electronic invoicing, electronic transactions, merchant account, mobile, online, payment, payment gateway
March 13th, 2017 by Elma Jane
SECURITY PROTECTION
Make smart decisions when it comes to protecting your business with five layers of protection.
Posted in Best Practices for Merchants, Payment Card Industry PCI Security Tagged with: Security
March 10th, 2017 by Elma Jane
Qualified vs Non-Qualified credit card rates
The most common forms of rate structures for credit card rates are:
2-Tiered: Qualified and Non-Qualified
3-Tiered: Qualified, Mid-qualified, or Non-qualified
Each and every transaction you accept is classified into one of the above and is the basis for the credit card rate you see on your statement.
As a general rule, qualified transactions are going to be “standard” cards; without any consumer or corporate rewards associated with them. Accepted in the “standard” method expressed in your merchant processing agreement, this is where Card-Not-Present (CNP) setup comes into play.
Mid and Non-Qualified transactions include:
Rewards cards, keyed-in payments (for swipe accounts), AVS (Address Verification Service) does not match or is not performed, not all required fields are entered, or the payment was entered in a late batch. Ex. the payment was sent to the processor 48 hours or more past the time of the authorization.
Posted in Best Practices for Merchants, Travel Agency Agents
March 9th, 2017 by Elma Jane
Merchant Cash Advance
A Merchant Cash Advance is a funding product providing working capital to businesses. When it comes to securing a merchant cash advance, businesses are far more likely to be approved and secure the amount of funding you actually need because cash advance is not a loan.
Merchants sell a specific amount of their business’ future credit and debit card receivables at a discount in exchange for the capital they can use for business. Payments are often more flexible as they are based on sales.
For your loans and funding needs call now at 888-996-2273 Extension 1159
Posted in Best Practices for Merchants Tagged with: cash advance, credit, debit card, loan, merchant, payments
March 8th, 2017 by Elma Jane
TOKENIZATION AND ENCRYPTION SECURITY
Encryption is reversible. Encrypted data can be returned back to its original, unencrypted form. The encryption strength is based on the algorithm it uses. A more complex algorithm will create stronger encryption to secure the data. Encryption is most often “end-to-end.”
PCI Security Standards Council and other governing compliance entities still view encrypted data as sensitive data.
Tokenization system replaces sensitive data and the token cannot be reversed into true data, it has no value. The real, sensitive information is stored in a secured offsite platform. An entirely different location. That means sensitive customer data does not enter or reside within your environment.
Unlike encryption, tokenization isn’t subject to issues with PCI compliance or other data security organizations, because tokens do not contain any real data.
If a hacker managed to steal your tokens they cannot be used for a fraudulent transaction.
Using tokens doesn’t change a merchant’s payment processing experience. Only they’re much safer for a merchant than actual credit cards.
For Electronic Payments call us now 888-996-2273
Posted in Best Practices for Merchants, Payment Card Industry PCI Security Tagged with: data, encryption, PCI, Security, tokenization, transaction
March 7th, 2017 by Elma Jane
Financial intermediary between a customer and merchant include:
Card Associations – Visa, MasterCard, and American Express.
Card Issuing Banks – are the financial institutions affiliated with the card association brands and provides credit or debit cards directly to customers.
Card Processors – also known as Acquirer or Acquiring Banks. They pass batch information and authorization requests so that merchant can complete transactions in their businesses. These institutions are the link between payment account providers and card associations.
Payment Account Providers – are companies like NTC that manage credit card processing, usually through the help of a Card processor also known as Acquiring Banks.
Payment Gateways: These are special portals that route transactions to a card processor or acquirer.
Posted in Best Practices for Merchants Tagged with: banks, card associations, credit, customer, debit cards, financial, gateways, merchant, payment, processors, provider's, transactions
March 6th, 2017 by Elma Jane
Electronic Payments Processing
Credit and debit card industry grows in electronic payment processors and the services they offer; unfortunately, customer support seems to be considered to be less important.
National Transaction believes that customer support is of greater value. Any merchant would love to get new a new equipment or credit card terminal for free, but what about support for this service? Get the most from your Electronic Payments Processing!
NTC offers the following:
Live US Based Customer Support within three rings
Guaranteed Lowest Rates
Next Day Funding
NTC ePay Electronic Invoicing (allows the merchant to simply email payment request).
Online Reporting and Processing Tools Included
Security (PCI Compliance, Tokenization, and Encryption).
Call us now 888-996-2273 www.nationaltransaction.com
Posted in Best Practices for Merchants Tagged with: credit, customer support, debit card, Electronic invoicing, electronic payment, encryption, merchant, payment, payment processing, PCI, processors, Security, terminal, tokenization
March 3rd, 2017 by Elma Jane
RECENTLY FUNDED DEALS
Our Loan Specialist work with business owners to find the easiest and least expensive way to access capital.
Call now 888-996-2273 Ext 1159
Posted in Best Practices for Merchants Tagged with: loan
March 1st, 2017 by Elma Jane
ELECTRONIC PAYMENTS
When it comes to electronic payments, certain types of businesses are considered high risk.
Most merchants do not realize that electronic payment processors carry a financial risk on merchant accounts, and normally fund merchants prior to receiving payment from the client’s bank.
Essentially, a merchant account is an unsecured loan.
Different factors used to determine when a business is a high risk are:
- Types of products
- Services they sell how
- How they sell them
Online transactions are considered high risk because there are increased risks of fraud.
A key factor used to determine the risk of a business is chargebacks.
Chargebacks include customer refunds and fraudulent transactions.
Payment providers assess this risk to determine the percentage of chargebacks your business is likely to experience.
Businesses that are considered high risk where they take advanced payments:
- Travel agencies
- Ticketing services
Electronic payments provider is necessary if you want to accept debit and credit card transactions.
For high-risk electronic payments please feel free to call us at 888-996-2273.
Posted in Best Practices for Merchants, Travel Agency Agents Tagged with: bank, chargebacks, credit card, debit, electronic payments, fraud, loan, merchant accounts, merchants, online, payment processors, transactions, travel agencies
February 22nd, 2017 by Elma Jane
BEST PRACTICES
Posted in Best Practices for Merchants Tagged with: card, cardholder, voice authorization
