October 7th, 2018 by Admin
National Transaction is celebrating 21 years in the business today. Founded in 1997 National Transaction (NTC) purpose is to serve businesses of all sizes with their cash flow with the highest levels of professionalism and care.
This 21 year anniversary would not be possible without our leader, Mark Fravel and we want to take you back to his why and the reason we are still here today.
The beginnings:
Mark, a single parent of 3 beautiful daughters, wanted to provide for their kids without being on the road all the time. And so, with this passion in mind, a desire to serve and commitment to his family, National Transaction was born.
NTC began like many business and passions, with no customers and only one employee but quickly grew and Mark knew that leading with confidence and excellence will drive this business somewhere.
The Present:
Now, NTC often ranks in the top 10 of many data and technology awards. This Excellence has also earned us an A+ rating in the Better Business Bureau.
This 21 years would not be possible without our desire to help a business grow and give them the right tools for their transactions. We love being on the phone with our customers, we love getting to know them and how we can provide our best service.
The Future
Mark started this with a desire to be a family man, and so, this family feeling has stayed with our company. We treat our team like family, and we are excited about what our future holds the next 21 years.
Thank you for celebrating 21 years of customer service, passion, connection and above all, quality. We will continue to provide you with the best service we know how to give, and we will uphold our promise and mission to make digital transactions reliable and simple to the merchant and familiar to the consumer, reducing the complexity and expense to both.
Thank you for being part of the National Transaction Corporation‘s family.
Posted in nationaltransaction.com Tagged with: Anniversary, ASTA, Better Business Bureau, business, card, consumers, credit card, credit cards, credit-card, customer, customers, data, e-commerce, entrepreneur, entrepreneurship, MasterCard, merchant, merchant account, merchants, Mobile Payments, National Transaction, payments, point of sale, Security, transaction, visa
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 5th, 2017 by Elma Jane
Tokenization is a powerful security feature that allows a merchant to support all of their existing business processes that require card data without the risk of holding card data and without any security implications, because tokens are useless to criminals, they can be saved by the merchant as they do not represent any threat.
The liability and costs associated with PCI compliance is substantially reduced and the risk of storing sensitive data is eliminated.
Tokenization applies to credit card and gift card.
Merchants set up for the tokenization service receive responses that include a token.
The token generated is not linked to a specific transaction but to a specific card number and the token generated for that transaction will be identical for every use of that card number and merchant.
Furthermore, you can generate a token and save the token with associated information in the Card Manager.
For Electronic Payments with Tokenization call now 888-996-2273
or click here NationalTransaction.Com
Posted in Best Practices for Merchants, Credit Card Security, Electronic Payments, Payment Card Industry PCI Security Tagged with: card, credit card, data, electronic payments, merchant, PCI, Security, token, tokenization, transaction
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 18th, 2017 by Elma Jane
NTC Amex OptBlue Program rate are a lot more competitive, with NTC Amex OptBlue you can find a rate that’s right for your business and a faster, easier way to accept the card.
Amex OptBlue Program allows smaller businesses to accept American Express credit cards without paying excessively higher rates. Those who sign up for this program can automatically bundle American Express along with the other major card brands that they already accepting.
Before Optblue, you had one rate option for American Express Card acceptance. Now, because your Merchant Service Provider sets the rate, you could find a deal that works for you.
In some cases, Amex OptBlue is lower than Visa and MasterCard.
If you’re an existing merchant adding Amex Optblue is easy with NTC. You’ll get paid at the same time as your other card brands. One fast deposit!
All the credit cards you accept in one simple statement.
One Customer Service Contact. We can answer questions for every card you take with us.
Give us a call now 888-996-2273 or fill out the form NationalTransaction.Com and we’ll help you get going with Amex OptBlue.
Posted in Best Practices for Merchants Tagged with: amex, card, MasterCard, merchant, payment processing, service provider, visa
February 22nd, 2017 by Elma Jane
BEST PRACTICES
Posted in Best Practices for Merchants Tagged with: card, cardholder, voice authorization
January 23rd, 2017 by Elma Jane
What Makes Up The Rate That You’re Paying?
Most rates are made up of three parts:
Interchange – Goes to the bank that issued the card, and is typically made up of a flat rate plus a percentage of the sale.
Assessments – Go to card network like Visa, MasterCard, Amex, Discover etc.
Processor fees – Fees involved with providing the service, risk assessments, the type of transaction, and the size of the transaction. This portion includes the margin between the total rate and the two previous parts, along with any incidental fees, like chargeback or statement fees.
There are a lot more intricacies of what makes up a credit card rate, but this information gets you off to a good start. If you’re interested in learning more about electronic payments, check our website www.nationaltransaction.com or call now 888-996-2273 and talk to our Payment Consultant.
Posted in Best Practices for Merchants Tagged with: bank, card, card network, chargeback, credit card, merchant, payment, processor, transaction
December 22nd, 2016 by Elma Jane
What is a Merchant Account?
If you want to remain competitive virtually, every business needs access to a merchant account to accept card payments from their customers. “Merchant” is another word for a seller or business owner. Merchant accounts are not depository accounts like checking and savings accounts; they are considered a line of credit. This allows a merchant to receive funding for the credit transaction. Therefore, when a customer pays with a credit card; a bank is extending credit to that customer and also making the payment on his/her behalf. As for payment providers or processors; they pay merchants before the banks collect from customers and are therefore extending credit to the merchant, that’s why Merchant account is considered as a LOAN.
Merchant account helps facilitate the complex interactions that need to occur between your business and your customer, the credit card networks (Amex, Discover, MasterCard, Visa) and your payment provider every time you receive a card payment. It helps to ensure that you receive funding as quickly as possible, that the banks are protected from losses, and that buyers are protected from scams. Everyone is held accountable based on the rules of the credit card processing agreement with a merchant account.
There’s cost associated in taking credit cards, but it’s much easier and more secure to open a merchant account than it is to keep a book of credit accounts for all of your customers!
Posted in Best Practices for Merchants, Travel Agency Agents Tagged with: amex, card, credit, customers, Discover, loan, MasterCard, merchant account, payment provider, payments, transaction, visa
November 21st, 2016 by Elma Jane
What makes travel merchant high risk?
Travel environments are unique and transactions are usually keyed in. There’s almost always a delayed delivery period, and large ticket transactions.
One card holder may be paying for multiple tickets and they tend to be seasonal; with peak season months generating an unusual spike in their “average” monthly volume and chargebacks, pose a potential threat by travelers who are unable to complete their trip.
These factors can cause for either a reserve or account termination. Therefore travel merchant accounts are considered high risk.
Most merchants do not realize that merchant processors carry a financial risk on merchant accounts, and normally fund merchants prior to receiving payment from the client’s bank. Therefore, a merchant account is an unsecured loan.
The merchant runs a transaction and at the end of the day they settle their batch. The merchant will receive the funds for that batch in their bank account within 2 business days, even though the travel arrangements the client paid for do not take place right away.
Here at National Transaction Corp, we specialize in understanding what makes your transactions as a travel agent unique and how they affect your merchant account.
Educating the merchant and ensuring they have a good understanding of what makes travel merchant account high risk, is one of our specialties.
Call NTC to speak with a Travel Merchant Account Specialist today!
Dial 888-996-2273
Posted in Best Practices for Merchants, Travel Agency Agents Tagged with: bank, card, chargebacks, financial, loan, merchant, payment, processors, transactions, travel, travel agent, Travel Merchant
November 18th, 2016 by Elma Jane
Tokenization and Encryption are completely different technologies when it comes to securing sensitive data, such as credit cards.
Encryption tools and techniques is to mask original data, then allow it to be decrypted. It uses an algorithm to scramble credit card information that makes the data unreadable to anyone.
Encryption is most often “end-to-end.”
Example: When someone enters card data into a web browser to buy an item and decrypted when the purchaser’s authorized credit card information reaches its intended destination, which is the merchant’s e-commerce database.
Encrypted card data is unreadable while it’s “at rest” in a database or “in motion” during a purchase transaction; and inaccessible until a key decrypts it. The chances of a hacker stealing the data is minimal. But, if card data passes through multiple internal systems en route to an acquiring bank or payment gateway, the encrypt/decrypt/re-encrypt process could open a wide security hole, thus creating vulnerabilities to hackers.
Tokenization have found to be cheaper, easier to use and more secure than end-to-end encryption.
Tokenization completely removes credit card data from internal networks and replaces it with a generated, unique “token”. Tokens have no meaning and are worthless to criminals if a company’s system is breached.
Merchants use only the token to retrieve, access, or maintain their customers’ credit card information.
Example: Actual credit card number was 3234 4567 8789 78910, it might become FHIW145BVE65478 when a token is generated. The token is randomly generated and there is no algorithm to regain the original card number. hackers can’t reverse-engineer the actual credit card number, even if they were to grab the tokens off the servers.
Using tokens doesn’t change a merchant’s payment processing experience. Only they’re much safer for a merchant than actual credit cards.
Posted in Best Practices for Merchants, Credit Card Security Tagged with: card, credit cards, customers, data, encryption, gateway, merchants, payment, Security, token, tokenization, transaction
