May 25th, 2016 by Elma Jane
No one likes waiting in a checkout line, the faster your checkout line moves, the faster you are able to turn more sales. Quick checkout lines lead to increased sales and higher customer satisfaction .
Cut your line and increase your sales by:
Upgrading your POS – if you haven’t upgraded your POS, do it now. Choosing a modern POS that is simple and easy to use like the iCT250, offers a smart, effective and highest security payment experience designed for merchants and easier for employees to understand.
Multiple Checkout – multiple checkout counters may be necessary depending on the size of your store. In a high volume situation such as the holiday season, more opportunities for checkout may be beneficial.
Accept A Variety of Payments – having alternative forms of payment by accepting credit, debit, EMV/NFC and mobile wallets, will open the door for a variety of customers, but also allow the customer to pay the way they want in a most convenient way.
Train Employees – most importantly, train your employees on how to use your new POS system. Employees need to be the expert on POS so that they are able to assist customers who may need help conducting their transaction.
Posted in Best Practices for Merchants Tagged with: credit, customer, debit, EMV, merchants, mobile, mobile wallets, nfc, payment, POS, sales, Security, transaction
May 9th, 2016 by Elma Jane
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
April 20th, 2016 by Elma Jane
ECS: An Electronic Mode Of Funds Transfer From One Bank Account To Another
- Paper check conversion
- Debit Processing
- Automated Returns Management
- Reporting: Merchant Connect, ACS Standard and Custom Files, Enquire and Corporate Management Reports
- Monthly Statement
- Risk Services: Verification, Conversion
- Image
ACH E-CHECK: Uses Bank Routing and Account Number In a CNP Environment.
- Card-Not-Present e-Processing of ACH Debit
- Known Relationship B/Consumer and Business
- NOT for Ecommerce “Sale of Goods and Services”
- Debit Processing
- Automated Returns Management
- Reporting: Merchant Connect, ACS Standard and Custom Files, Enquire and Corporate Management Reports
- Monthly Statement
- Risk Services: Verification, Conversion
- No Image
Posted in Best Practices for Merchants, e-commerce & m-commerce Tagged with: account, ACS, bank, card-not-present, cnp, consumer, debit, ecommerce, ECS, merchant, risk, services
April 12th, 2016 by Elma Jane
Bank Identification Number or (BIN) is the link between the customer and their credit, debit, prepaid or gift card.This help merchants identify the card, its owner, and the issuing bank. The first six digits are used to identify the issuing bank. These six digits are the Bank Identification Number (BIN).
What is a BIN LookUp and how can it help merchant?
The BIN and additional data about the card and the bank can be stored in a database since every card is associated with a bank. BIN lookup allows any merchant or institution doing card based transaction to check more about the transaction other than ensuring that the correct pin has been provided.
BIN LookUp gives the merchant added security and a number of benefits.
- Protection against fraud and reversals of payments. Bank institution allow merchants a limited number of reversals and fraud before stopping their card privileges, and each card chargeback costs you money.
- Permits a closer monitoring of the sales process. Who, what and where? Using these details you can service your customers better.
- You can also gain from using the BIN system if you issue your customers’ gift card or pre-loaded cards.
How Can BIN LookUp or Cardholder Bank LookUp Help Merchants?
Utilize the Cardholder Bank Lookup when you need to inquire about which bank issued a particular card. Simply enter the first six digits on the card and you will receive the information on the issuing bank, including contact information. Merchant Connect BIN lookup data is accurate, it is an added protection to your business, assets, and your financial transactions.
For your payments technology needs, give us a call at 888-996-2273
Posted in Best Practices for Merchants, Travel Agency Agents Tagged with: bank, cardholder, chargeback, credit, customer, database, debit, financial, fraud, gift Card, merchants, payments, prepaid, Security, transaction
February 24th, 2016 by Elma Jane
Merchants can bring in new customers and encourage repeat business by using their point-of-sale terminal as a marketing tool. A point-of-sale terminal allows you to process payment and accept debit and credit cards, and generate more business by using the right tools.
Customize Receipts – a customized receipt becomes an advertisement. The customer knows where that receipt is from should they want to contact you.
Gift Cards Program – Gift card recipient are likely to spend over the face value of the card. Customers will appreciate simplified gift shopping.
Loyalty Program – Loyalty program makes customers think of your business first and encourages them to come back often to earn a reward.
Referral Rewards – Print an offer to reward referrals, so they can send people to you.
A merchant account is not just an expense by finding the right tool you can generate more income for your business!
visit www.nationaltransaction.com today, or call 888-996-2273 Extension 1
Posted in Best Practices for Merchants, Credit Card Reader Terminal, Point of Sale Tagged with: credit cards, customers, debit, gift Card, loyalty program, merchant account, merchants, payment, point of sale, terminal
January 26th, 2016 by Elma Jane
The convenience, simplicity and security of Apple Pay are now available to customers who use U.S. Bank FlexPerks American Express Cards.
U.S. Bank which is the fifth-largest bank in the nation will add TouchID biometric capabilities to its mobile app in March.
The company made the disclosure as part of a notable iOS app update released last Friday. Release appears to include, among other enhancements, improvements such as easier navigation, quicker accessibility to account information, and the ability to search transactions from previous months.
U.S. Bank Minneapolis did not give many details about how TouchID will be used within its iOS app, other than to say for fingerprint authentication for enabled devices.
Many major banks already have TouchID implemented in their mobile apps, including Citibank, Wells Fargo and Bank of America. Citibank, for example, implemented TouchID last July. Apple introduced TouchID in mid-2013.
Last week, U.S. Bank enabled for Apple Pay use the last of its debit and credit cards that had not been Apple Pay-capable. Apple Pay relies on TouchID for security and authentication.
Apple Pay is now available with the:
- U.S. Bank FlexPerks Reserve American Express Card.
- U.S. Bank FlexPerks Travel Rewards American Express Card.
- U.S. Bank FlexPerks Select+ American Express Card.
Posted in Best Practices for Merchants Tagged with: account, bank, biometric, cards, credit cards, customers, debit, mobile, mobile app, Security, transactions
December 18th, 2015 by Elma Jane
A leading provider of mobile point of sale and mobile payment technology, published today the EMV Migration Tracker.
Many merchants have deployed EMV capable terminals while cardholders have received cards with EMV chips, but not much data has been published about the real world use of EMV chip card technology in the U.S. Most published statistics rely on surveys or forecasts rather than real transactional data.
The EMV Migration Tracker shows new data and insights since the October 1 liability shift, including:
- Over 50% of all cards in use now have EMV chips on them. From October to November, the percent grew 5% as banks and card issuers accelerated their rollout of new chip cards.
- Over 83% of American Express cards have EMV chips, while Discover lags at 40%
- Over 63% of the cards used in Hawaii have EMV chips, but Mississippi sees just 11% penetration of chip cards.
While EMV chip card technology has been implemented in Europe years ago, the rollout of EMV in the U.S is just beginning. The rollout came earlier this year with the October 1 liability shift in card present transaction, meaning that merchants who have not upgraded their POS system can become liable for counterfeit card fraud losses that occur at their stores. This is an early step in an ongoing process that the Payments Security Task Force predicts will lead to 98 percent of U.S. credit and debit cards containing EMV chips by the end of 2017.
http://www.finextra.com/news/announcement.aspx?pressreleaseid=62506
Posted in Best Practices for Merchants Tagged with: American Express, banks, card issuers, card present, card technology, cardholders, chip cards, credit, data, debit, Discover, EMV, EMV chips, merchants, mobile payment, mobile point of sale, payment technology, point of sale, POS, provider
December 15th, 2015 by Elma Jane
Visa Inc. has launched the Visa Token Service in Asia Pacific, in association with United Overseas Bank (UOB). Store tokens on mobile devices, cloud-based mobile applications, and e-commerce merchants carry less risk of security hack. This security technology will replace sensitive account information to make payments without exposing bank details.
Tokenized cards are linked to customer’s wallet application or mobile and validated by VisaNet. Biometric authentication and device identification features are available through this service. Visa debit or credit cardholders with NFC-enabled Android smarthphones cardholders will be able to make contacless payments.
Posted in Best Practices for Merchants, e-commerce & m-commerce Tagged with: bank, biometric, cardholders, cards, contacless payments, credit, debit, e-commerce, e-commerce merchants, merchants, nfc, payments, token, Tokenized cards, visa
December 10th, 2015 by Elma Jane
WALMART LAUNCHES QR CODE MOBILE PAYMENTS SERVICE
Customers at US retail giant Walmart will soon be able to pay for purchases by scanning a QR code at the point of sale using Walmart Pay. Walmart Pay will be integrated into the Walmart app, the retailer’s own mobile payment service introduced in selected stores this month, with a nationwide launch expected in the first half of next year.
With this launch, Walmart becomes the only retailer to offer its own payment solution that works with any iOS or Android device, at any checkout lane, and with any major credit, debit, prepaid or Walmart gift card all through the Walmart mobile app.
Walmart Pay will allow for the integration of other mobile wallets in the future.
http://www.nfcworld.com/2015/12/10/340527/walmart-launches-qr-code-mobile-payments-service-in-the-us/
Posted in Best Practices for Merchants, Mobile Payments, Mobile Point of Sale, Point of Sale Tagged with: credit, debit, gift Card, mobile payment, mobile payment service, mobile wallets, payment service, payment solution, point of sale, prepaid
December 3rd, 2015 by Elma Jane
Industry professionals agree that mobile payments technology has surpassed e-commerce as the trend in the daily spending behavior of modern retail customers.
E-commerce’s impact on consumer spending has actually decreased, but it seems that the ability to pay with mobile devices has finally swayed consumers away from their computers.
The payments outlook has changed rapidly with the increasing availability of mobile technologies to the average retail consumer within the last year. Products like Apple Pay, Android Pay and Samsung Pay have totally altered the landscape of payment options.
Small Businesses will have to adapt in order to keep up with the rapid pace of technological developments. The evolution of payments technologies not only alters how consumers spend their money, but how that money is processed during a transaction.
There are still some concerns over cyber risks and data security, which led 58 percent of surveyed professionals to agree that point-of-sale debit and credit card transactions were still the safest form of payment, while mobile payments garnered 20 percent of support. But hypothetical worries over security aren’t real enough to slow mobile payments’ momentum moving forward.
Mobile payments transaction value is expected to hit $8.71 billion by the end of 2015. That figure will triple to $27.05 billion in comparison to 2016, according to new research; as a bigger base of consumers begin to use their phones for point-of-sale transactions and a wider range of merchants begin to accept mobile payments. By 2019, essentially all mobile payment transactions will be done on smartphones.
Posted in Best Practices for Merchants, e-commerce & m-commerce, Mobile Payments, Point of Sale Tagged with: credit card, credit card transactions, debit, e-commerce, merchants, Mobile Payments, payments technologies, point of sale