August 29th, 2017 by Elma Jane
Running an e-commerce website, travel agency, retail store or any other business that requires payment processing can be overwhelming.
You’ve got to monitor your transactions, ensure security to your customers, and generate reports. That’s a lot of work. However, with NTC payment solutions, you can streamline the whole payment process and stay on top of your operations.
With the right service, it allows you to get paid faster, offer loyalty programs, and process payments on the go. Depending on your business, you want to pick the right solution that best suit your needs.
Let’s explore some of the options you can consider.
With the right software, you can gain control of your business from inventory and order management to refunds and returns. No matter how you have set up your point of sale system, having the right software can make a great difference.
You want a software that lets you add other functionality, such as loyalty cards, sales exchanges, layaways, discounts, etc. This allows you to experience seamless customer management, inventory management, and retail accounting.
With the advancement in technology, you can access your point of sale system right on your iOS or Android device. This technology can replace your bar code scanners and cash registers to improve your in-store payment processing. There are also card readers that you can connect to your phone to start processing payments.
National Transaction can provide hardware, software, and support for any point of sale and other merchant solutions that your business needs.
To speak with our Payment Consultant Call Now 888-996-2273
Posted in Best Practices for Merchants Tagged with: card readers, e-commerce, Loyalty Programs, merchant, payment processing, point of sale system, Security, technology, transactions, travel
August 18th, 2017 by Elma Jane
Before you can start accepting credit card or electronic payments, there are a number of factors to consider.
You will need to decide on a Point of Sale system. Some Merchant Services Providers require you to use only their equipment.
Some of these systems have expensive equipment costs. Others will provide you with free card readers. Companies offering free equipment may do so in exchange for higher processing fees.
Before you choose a Merchant Services Provider, you should look into how they work those fees.
Understanding Processing Fees
Credit card processing fees have several moving parts, so we aren’t going to dive too deeply into how these fees are determined. We will, however, take a broad overview.
Merchant Services Providers will charge either a flat rate, a percentage, or a combination of the two. This fee is called an interchange rate.
Interchange rates vary between card providers, which is why some sellers don’t accept certain credit cards and why many small companies have minimum requirements for credit card payments.
Some Merchant Services Providers don’t charge a flat transaction fee, however, they usually charge a higher percentage for payments.
Each model has its benefits and disadvantages.
Before choosing a Merchant Services Provider, familiarize yourself with their processing fees. Consider how they will fit with your business model. Are most of your transactions smaller or larger? How much will a free card reader save you?
Weigh every option out before you lock yourself into an agreement.
For Payment Consultation call now and speak to our Payment Consultants 888-996-2273!
Posted in Best Practices for Merchants Tagged with: card readers, credit card, electronic payments, interchange, merchant, point of sale, transaction
May 18th, 2016 by Elma Jane
Terminals are ready, but the software isn’t – many merchants have EMV capable equipment, but has not been activated yet because it still needs to be certified.
The certification process includes security and compatibility tests.
For a small merchant, all you need to worry about is your equipment or software is EMV certified.
For software, developers, terminal manufacturers needs to get certification before they can deploy their products to merchants.
So many merchants who want to accept EMV, are now just waiting for their POS system to get necessary upgrades, which they can’t do until they’re certified.
Slower Checkout Time – common complaint by consumers. Dipping takes several seconds longer than swiping the card. There’s also a chance of forgetting your card because you have to leave your card inserted while waiting for the transaction to get approved.
The fastest Path to EMV – Depending on the nature of your business, the risk of landing yourself for credit card fraud is slim. The easiest way is to contact your merchant account provider and they will tell you what equipment and software you need and how much it will cost.
For our retail customers, we have the iCT250, the smart and compact desktop device designed for maximum efficiency. iCT250 offers a smart and effective payment experience on minimum counter space. Accept all electronic payment methods including EMV chip & PIN, magstripe and NFC/contactless.
For card-not-present, we have our payment gateway platform that accepts payments your way Online, In-Store and On the Go.
- E-commerce – manage your e-com business along with all of your other payment transactions in one, secure place.
- In-Store – accept payments in person with ease using your computer and a broad range of an optional device, like card readers and PIN pads.
- Back Office Mail & Phone – Process you mail and phone payments online. Converge is ideal for recurring and installment payments too.
- Mobile – Take payments on the go with an intuitive mobile app that’s compatible with most smartphones and tablets.
For more details give us a call at 888-996-2273 or check out our website for our products and services.
Posted in Best Practices for Merchants, Credit Card Reader Terminal, e-commerce & m-commerce, EMV EuroPay MasterCard Visa, Internet Payment Gateway, Mail Order Telephone Order, Merchant Account Services News Articles, Mobile Payments, Near Field Communication, Point of Sale, Smartphone, Travel Agency Agents Tagged with: card, card readers, Chip & PIN, consumers, contactless, credit card, customers, e-commerce, electronic payment, EMV, fraud, in-store, magstripe, merchant account, merchants, mobile, nfc, online, payment, payment gateway, PIN pads, POS, provider, Security, terminals, transaction