September 17th, 2014 by Elma Jane
Commuters using the London tube network can now tap their contactless bank cards on the ticket barriers to pay for their journeys, further displacing cash on the capital’s transit system.
Fares are cheaper than cash, with users being charged adult pay as you go fares and benefiting from daily and Monday to Sunday fare capping. Customers without bank cards will continue to benefit from cheaper fares through Transport for London’s Oyster card.
This is not the end of Oyster and it’s not the end of cash, but it is a significant dent in the market for cash.
The move follows the abolition of cash on London’s buses and covers all tube, overground, DLR, tram and National Rail services that accept Oyster.
The shift to contactless has future-proofed the capital’s transit system for up-and-coming innovations in payments. You can already use your mobile phones to make your payments and tap and go through the tube turnstiles, and in the future it will open up many other connected devices as well, whether that’s smart wristbands or smart watches.
An incredible response to the launch of contactless payments on London Buses with nearly 19 million Visa contactless journeys made since it launched in 2012. Today’s launch will be another major boost to contactless usage leading to the three-fold increase expected in the next year. To coincide with the rollout, Londoners are invited to sign up for 10,000 free bPay contactless payments bands. Its wearable device will let commuters pay for their journeys with a wave of their wrists and help avoid card clash.
Posted in Best Practices for Merchants Tagged with: bank, card clash, cards, contactless bank cards, contactless payments, customers, devices, mobile, mobile phones, network, payments, phones, smart watches, smart wristbands, Visa contactless journeys, wearable device
September 11th, 2014 by Elma Jane
Online retailers are finding the bricks-and-clicks strategy to be an effective way to serve and engage shoppers. Perhaps that is why an increasing number of ecommerce merchants are setting up shop offline. It’s important to note, however, that a bricks-and-clicks business isn’t just about having a physical store and an ecommerce site. For this model to be effective, each channel must complement and add value to the other.
Guidelines to execute a bricks-and-clicks strategy:
Allow Access to Online Account Information in Physical Store
Bridge the gap between bricks and clicks by giving your customers and physical-store staff access to online account information. Doing so can enhance shopping experiences and drive sales.
Integrate Online and Offline Inventory, Fulfillment
Offer click-and-collect services that allow shoppers to buy merchandise online and pick it up at a local retail branch or service station. Many consumers would rather forgo the shipping costs and wait time and instead pick up their items at a time and place that’s convenient for them. Also, use your brick-and-mortar inventory when an item is out of stock online.
Use Online Data for Offline Selling, and Vice Versa
Data pertaining to online sales and traffic won’t just help you optimize your ecommerce site. It can also apply to offline decisions. For instance, if you see an increase in sales for a particular product on your website, you should consider promoting it offline, as well, to your brick-and-mortar shoppers.
Also pay attention to social media data such as Facebook likes and Pinterest pins. What’s trending on social sites can help with merchandising and marketing. Consider something similar in your brick-and-mortar business. Take note of the most liked, viewed, and pinned items online and then leverage that information when making decisions regarding product displays, inventory and more.
You can also use offline information to enhance your ecommerce site. Utilize in-store analytics tools, such as people counters and sensors, to better understand how your offline customers behave and then compare that with online behavioral data to spot patterns and opportunities.
Qualitative information, such as shoppers’ common questions and concerns, can also be used to improve your online shop. For instance, if your physical store associates keep getting the same questions about a particular product, there’s a good chance that online shoppers have similar queries. So you may want to include the answer in that item’s product description page.
Use Smartphone Beacons in Physical Stores
Beacons are Bluetooth-enabled devices that let brick-and-mortar merchants send customized offers and recommendations to their shoppers via their smartphones based on where the shoppers are in the store. For example, if a shopper is in the footwear department, the retailer can use its store beacons to send the shopper a coupon for shoes. Bricks-and-clicks businesses can also use the technology to send tailored offers to shoppers based on their online behavior.
Posted in Best Practices for Merchants Tagged with: account, Beacons, bluetooth, brick and mortar, business, consumers, coupon, customers, data, devices, ecommerce, Facebook, inventory, marketing, merchandising, Merchant's, Online Account Information, Online Data, pinterest, product, sales, shoppers, site, smartphone, social sites, store, website
September 4th, 2014 by Elma Jane
The move to mobile point of sale (mobile POS) is radically changing the face of customer interactions and payments, as both customers and merchants grow increasingly comfortable with the concept of mobile payments. In the current, crowded marketplace most mobile payment solutions are not compatible with each other. Instead of unifying the payment experience they create islands separated by technology or usage that are tailored to individual providers in the market. Multiple devices are currently needed in-store to process different payment types and the challenge is how they can make payments unified in such a way that only one device is needed in store.
The use of cash by customers also adds a level of complication to the mobile POS story. The removal of IDM terminals, removal of customer queues and ability for customers to simply walk up and pay an assistant or to leave a store and have their bank card automatically debited certainly suits the expectations of customers today, however a large number of customers still use traditional cash methods to pay for goods and services. A number of stores that have gone down the route of implementing mobile POS now have a problem dealing with cash because the wandering shop assistants and personal shoppers can only accept card or web-based payment options. The future for mobile POS has potential to be bright, a dominant player will have to emerge in the market. This will break down the technology barriers and usage barriers between different players. The success to mobile POS lies in the payment process being truly unified with one device in one place and very seamless workflow. This will be very complicated thing to achieve, there have been a lot of attempts and a lot of false starts in the history of mobile POS. MPOS will be the future. Five years from now people will be amazed that they did transactions with landlines. NO child will ever see a telephone with a cord attached. Never a popcorn on top of the stove since we developed microwave ovens. Technology changes, and we are slow to adopt new stuff. Once we change we don’t know how we did without it.
Posted in Best Practices for Merchants, Mobile Payments, Mobile Point of Sale, Point of Sale, Smartphone Tagged with: bank, card, cash, customer, devices, IDM terminals, Merchant's, mobile, mobile point of sale, MPOS, payment solutions, payment types, payments, point of sale, POS, provider's, services, technology, terminals, web-based payment
August 27th, 2014 by Elma Jane
Backoff malware that has attacked point of sale systems at hundreds of businesses may accelerate adoption of EMV chip and PIN cards and two-factor authentication as merchants look for ways to soften the next attack. Chip and PIN are a big thing, because it greatly diminishes the value of the information that can be trapped by this malware, said Trustwave, a security company that estimates about 600 businesses have been victims of the new malware. The malware uses infected websites to infiltrate the computing devices that host point of sale systems or are used to make payments, such as PCs, tablets and smartphones. Merchants can install software that monitors their payments systems for intrusions, but the thing is you can’t just have anti-virus programs and think you are safe. Credit card data is particularly vulnerable because the malware can steal data directly from the magnetic stripe or keystrokes used to make card payments.
The point of sale system is low-hanging fruit because a lot of businesses don’t own their own POS system. They rent them, or a small business may hire a third party to implement their own point of sale system. The Payment Card Industry Security Standards Council issued new guidance this month to address security for outsourced digital payments. EMV-chip cards, which are designed to deter counterfeiting, would gut the value of any stolen data. With this magnetic stripe data, the crooks can clone the card and sell it on the black market. With chip and PIN, the data changes for each transaction, so each transaction is unique. Even if the malware grabs the data, there not a lot the crooks can do with it. The EMV transition in the U.S. has recently accelerated, driven in part by recent highprofile data breaches. Even with that momentum, the U.S. may still take longer than the card networks’ October 2015 deadline to fully shift to chip-card acceptance.
EMV does not by itself mitigate the threat of breaches. Two-factor authentication, or the use of a second channel or computing device to authorize a transaction, will likely share in the boost in investment stemming from data security concerns. The continued compromise of point of sale merchants through a variety of vectors, including malware such as Backoff, will motivate the implementation among merchants of stronger authentication to prevent unauthorized access to card data.
Backoff has garnered a lot of attention, including a warning from the U.S. government, but it’s not the only malware targeting payment card data. It is not the types of threats which are new, but rather the frequency with which they are occurring which has put merchants on their heels. There is also an acute need to educate small merchants on both the threats and respective mitigation techniques.. The heightened alert over data vulnerability should boost the card networks’ plans to replace account numbers with substitute tokens to protect digital payments. Tokens would not necessarily stop crooks from infiltrating point of sale systems, but like EMV technology, they would limit the value of the stolen data. There are two sides to the equation, the issuers and the merchants. To the extent we see both sides adopt tokenization, you will see fewer breaches and they will be less severe because the crooks will be getting a token instead of card data.
Posted in Best Practices for Merchants, Credit Card Security, Payment Card Industry PCI Security, Point of Sale Tagged with: access, account, account numbers, anti-virus programs, authentication, Backoff, card, card networks, chip, credit, Credit card data, credit-card, data, data breaches, devices, digital payments, EMV, magnetic stripe, Malware, Merchant's, Payment Card Industry, payments, PCs, PIN, PIN cards, point of sale, POS, POS system, programs, Security, security standards, Smartphones, software, system, tablets, tokenization, tokens, transaction, Trustwave, websites
August 21st, 2014 by Elma Jane
Package delivery giant UPS has become the latest company to admit that customer payment card details may be at risk after it discovered malware at 51 of its US stores. In a statement, UPS says that customers who used credit and debit cards at 51 of its 4470 franchised sites between 20 January and 11 August are at risk. Names, postal and email addresses and payment card information may all be compromised, but UPS says that it has no evidence of any fraud, and that the malware has now been eliminated. Earlier this month the US government took the step of putting out an alert warning retailers about a new family of malware, dubbed Backoff, targeting point-of-sale systems. The UPS Store, received a bulletin from the government among many other US retailers that made them aware of the problem. As soon as they became aware of the potential malware intrusion, they deployed extensive resources to quickly address and eliminate the issue. Customers can be assured that they have identified and fully contained the incident. US merchants have found themselves under siege from hackers in recent months, with the most notable case seeing thieves use a vendor’s credentials to infect POS devices with malware and steal the details of around 40 million Target customer cards.
Posted in Best Practices for Merchants, Credit Card Security Tagged with: card, card details, card information, credit, customer, customer cards, debit cards, devices, fraud, Malware, Merchant's, payment, point of sale, POS, retailers
July 15th, 2014 by Elma Jane
Businesses only stand to benefit by making themselves accessible via mobile devices. With a mobile website or mobile app, businesses can boost sales, retain loyal customers and expand their reach. The question is, which type of mobile presence is best for your business Or should you have both? Both mobile websites and mobile apps let customers find and access your business from devices they use the most, but a mobile website and mobile app are not the same thing. To help you decide, check out the differences between the two and how they can benefit your business.
Mobile App – is a smartphone or tablet application. Unlike a mobile website, a mobile app must be downloaded and installed, typically from an app marketplace, such as the Apple App Store or Android’s Google Play store.
Mobile Website – is designed specifically for the smaller screens and touch-screen capabilities of smartphones and tablets. It can be accessed using any mobile devices Web browser, like Safari on iOS and Chrome on Android. Users simply type in the URL or click on a link to your website, and the website automatically detects the mobile device and redirects the viewer to the mobile version of your website.
Mobile website’s benefits
The primary benefit of a mobile website is that it makes regular websites more accessible for mobile users. It can have all the same elements as the regular version of the website, such as its look and feel, pages, images and other content, but it features a mobile-friendly layout that offers improved readability and functionality when viewed on a smartphone or tablet. By having a mobile website, customers can access your website anytime, anywhere using any device, without compromising the user experience.
Mobile app’s benefits
Although a mobile app functions a lot like a mobile website, a mobile app gives businesses the advantage of having their own corner on a customer’s device, because users have to download and install the app, businesses have more control over their presence on a device than they would with a mobile website. For instance, a mobile app can be closed or inactive, but still work in the background to send geo-targeted push notifications and gather data about customer’s preferences and behaviors. Moreover, mobile apps make it easy to deploy loyalty programs and use mobile payments using a single platform. It’s also much easier to access a mobile app than a mobile website all it takes is one tap, versus having to open a Web browser then type in a URL.
Mobile website and Mobile app features
Although mobile websites and mobile apps aren’t the same thing, they generally offer the same features that can help grow your business by making it easier for customers to find and reach you.
Features include the following:
Click-to-map: Users can use their devices’ GPS to locate your business and instantly get directions, without having to manually input your address.
Mobile commerce: Take your online store mobile with e-commerce-capable mobile websites and apps, such as with Buy Now buttons and mobile carts.
One-click calling: Users can call your business simply by tapping on your phone number from your website or app.
Social sharing: This feature integrates social media apps and websites to enable users to easily share content with friends and followers.
Mobile marketing: This lets users sign up for marketing lists and loyalty programs while enabling businesses to easily launch location-based text-message marketing and email marketing campaigns.
How to build a mobile app
Just like the options available for building a mobile website, businesses can either hire an app developer to build a mobile app or take the budget-friendly DIY mobile app maker route.
How to build a mobile website
To build a mobile website, one option is to hire a mobile Web developer to create one from scratch or convert an existing website into a mobile-friendly one. A more affordable option is to build one yourself with a free DIY mobile website builder, which uses a drag-and-drop platform that doesn’t require programming or Web design skills.
Posted in Uncategorized Tagged with: Android's Google Play, Apple App, Chrome, customers, data, devices, e-commerce, email marketing, GPS, iOS, mobile, mobile app, mobile carts, Mobile Devices, mobile website, platform, programs, Safari, smartphone, tablet, URL, Web browser
June 19th, 2014 by Elma Jane
API Software Inc. has created an application ISOs can use to help merchants tabulate the best payment services deals. The Square Deal Pro app for the merchant services industry enables sales reps to compare their company’s rates to those of Square, PayPal, Stripe and other payments aggregators. Essentially, the application takes the mathematics burden off of the merchant and helps an ISO or agent compare bundled pricing with interchange-plus pricing.
Frank Haggar, a software developer, started asking merchants why they chose a certain provider and they just said the pricing was simpler. It might be more expensive, but it was easier for them to understand. That moved to develop Square Deal Pro. It’s a software that salespeople can have right on their phones and it makes a comparison and is easy to understand. Square Deal Pro, which operates on iPhones, Android devices and Windows phones, was established as a vendor-neutral tool that is also available for merchants to download if they were inclined to want to crunch numbers themselves. Service providers pay for the application and all of its sales features, but a free version for price comparisons only is available to merchants.
Merchants are experts in what they know how to do and they may not want something that includes math distracting them from that, but the sales rep can do it for them and use it along the lines of a calculator helping someone figure out mortgage rates. ISOs have various tools at their disposal and lock in key information in their brains to prepare for sales presentations, but most will likely find Square Deal Pro a valuable addition. Something that takes complicated pricing schemes and factors it all into an easy interface that puts out a clear comparison that is valuable, certainly out in the field.
API Software has to deliver something difficult or impossible to copy because that would set this permanently apart as opposed to being a lead to other similar products in the market. An ISO can change rates or make adjustments for a client if the numbers show that another provider is offering a less expensive option, but the numbers in the app don’t lie. The app will show how a bundled rate can work in your favor, such as if you are selling Girl Scouts cookies at $3 a box. Then use Square all day long, but an ISO can compare how his product works compared to others and the app can show, that at a certain time, it might be beneficial to switch over.
Square Deal Pro takes into account factors other than interchange rates, including merchant volume, average ticket price and whether transactions are keyed or swiped or both. All of those things determine where you fit in on the diagram of how your rate should be structured. There is a lot of analysis on minimal focal points. The application may also help defuse potential problems with merchants who sometimes feel their sales rep was not providing a fair assessment of pricing structure or comparisons.
As for the application’s name, Haggar doesn’t want any confusion over whether this might be a new Square product.
Posted in Best Practices for Merchants Tagged with: account, aggregators, Android, assessment, bundled pricing, developer, devices, interchange, interchange rates, interchange-plus pricing, iPhones, ISOs, market, merchant services, merchant volume, Merchant's, mortgage rates, payment, PayPal, phones, pricing, Pro app, products, provider, Rates, sales, Service providers, software, Square, Square Deal Pro app, Stripe, transactions, Windows phones
May 21st, 2014 by Elma Jane
There are no enforced standards in the card processing industry regarding rates, fees, and contractual terms. It is possible for two providers to offer seemingly the same rates and fees that result in different processing costs.
Excessive Monthly, Annual, or Quarterly Fees
There are numerous monthly, annual, or quarterly fees merchants may see on their statements each month. Many merchants pay far more than they should for these fees. The fees may have names like statement fee, service fee, membership fee, regulatory fee, PCI fee, and host of other names. The fair amount each merchant should pay for these fees varies by sales volume and merchant type. Also, the amount a merchant pays for any given fee isn’t as important as the overall processing cost. These are general guidelines; some merchants should pay far less. If you are currently paying more, it may be a good time to review your overall processing cost including your pricing plan, rates, and fees.
Excessive Payment Gateway Fees
A payment gateway route transactions from the merchant’s website to the provider. Some retail point-of-sales devices require a gateway to route the transactions. Merchants generally pay a per-month and a per-transaction fee for use of the gateway. As a rule, the direct cost to process through the gateway is a few cents per transaction.
PCI Non-compliance or Non-validation Fee
Many providers now charge a monthly non-compliance or non-validation fee if the merchant is not PCI compliant. This fee may be in addition to a monthly, quarterly, or annual PCI fee. Supposedly, providers charge the non-compliant or non-validation fee as an incentive for merchants to become compliant. Nonetheless, some providers use this fee more for revenue generation, than as an incentive. Some providers do not charge this fee at all.
Merchants should not change providers because of this fee. Instead, the merchants should become PCI compliant to eliminate the fee and reduce the probability of being breached, which could easily result in huge monetary penalties – tens of thousands of dollars. To become compliant, merchants should complete the PCI Self-Assessment Questionnaire and adhere to the PCI requirements, which may require quarterly scans. In short, if a merchant is being charged a non-compliance or non-validation fee, it is as much the merchant’s fault as anyone else.
Visa FANF Fee
In 2012, Visa started charging providers a Fixed Acquirer Network Fee (FANF). The actual fee charged by Visa is dependent on the merchant type. The fee for customer-present retail merchants is based on the number of locations. The cost for ecommerce and fast food merchants is based on the volume of business. Customer-present retail merchants that have non-swiped transactions can also pay an additional customer-not-present FANF fee.
Most aggregators – i.e., merchant account providers that group multiple merchants into a single merchant account, such as Square, PayPal – integrate the FANF cost into their rates and fees versus itemizing them out separately. Most traditional providers properly pass through the actual Visa FANF fee to their merchants. However, there are a few that treat this fee as another hidden revenue stream. I’ve seen providers charge a flat monthly fee for customer-present merchants and I’ve seen the FANF fee inflated by as much as 50 percent for ecommerce merchants. Keep in mind when reviewing that the fee is generally based on the volume of the prior month. In order words, the fee you see on your statement for April activity is likely based on the March volume, as providers need to know the monthly Visa volume before they can assess the fee.
Unusual Discover Card Fees
For Discover transactions, some providers charge a higher percentage, or higher per-item fee, or monthly access fee.
Posted in Best Practices for Merchants, Credit card Processing Tagged with: (FANF), access fee, aggregators, breached, card processing industry, compliant, contractual terms, customer-not-present, customer-present retail merchants, devices, Discover transactions, ecommerce, ecommerce merchants, fast food merchants, fees, Fixed Acquirer Network Fee, flat monthly fee, gateway, integrate, membership fee, merchant account, merchant account providers, merchant type, Merchant's, merchant’s website, monetary penalties, non-compliance, non-swiped transactions, non-validation fee, payment gateway, PayPal, PCI fee, PCI non-compliance, PCI requirements, PCI Self-Assessment Questionnaire, pci-compliant, point-of-sales, pricing plan, processing cost, processing costs, provider, provider's, quarterly fees, Rates, regulatory fee, retail, retail point-of-sales devices, revenue, route transactions, sales volume, service fee, Square, statement, statement fee, statements, transactions, visa, Visa volume, website
March 17th, 2014 by Elma Jane
With so much to do each day, it’s easy for a small business owner to get bogged down in details. That’s where your smartphone comes in. With the right apps, your mobile device can automate the tasks that used to be daily chores. Whether you need help keeping track of all your business documents, or organizing your calendar and contacts list, it’s time to let your smartphone do some of the heavy lifting.
Back up your business files. Your work machine contains everything you need for a productive day, including every file and document you are working on. But you can’t always be at the office. With your smartphone and the right apps, however, you can back up and access your business files from anywhere. Dropbox, Box, Google Drive, SkyDrive and iCloud are all solid mobile apps that automate the process of syncing your business files to the cloud so you can access them from any Web-connected device, including your smartphone or tablet. Better yet, any edits you make will be synced across all your devices, so you can stay productive and organized.
Manage new contacts. Swapping business cards is a great networking strategy, but cards are easy to lose, and manually inputting all that contact information into your address book is a chore. So let your smartphone enter all that data into your address books. CamCard (available for iOS and Android) is an all-in-one business card management solution. Just point your iPhone camera at a card and snap a photo. The app’s text-recognition software will pull out the key details and update your address book automatically. It can even search for new contacts on LinkedIn to add a photo and additional personal details for each new contact.
Silence your smartphone. A buzzing or ringing smartphone can be distracting – not to mention embarrassing – during a business meeting. Silencing your phone is simple, but chances are you’ll occasionally forget. That’s why there are handy apps that monitor your smartphone calendar for meetings and appointments, then silence your phone for the duration of that event. You can even whitelist specific numbers so you won’t miss an emergency call. When the meeting is over, your smartphone’s ringer and vibration settings will be returned to their normal state. That way, you can stay focused and free from distraction when it matters most. Android users can try Silencify. For iPhone users, AutoSilent is a good option.
Sync your calendars. Both Android and iOS have built-in calendars to help you plan your week and schedule meetings. But juggling both a mobile calendar and a desktop office calendar is a pain, so why not use your smartphone to synchronize the two? If you use Microsoft Outlook as your business calendar, for example, Google Calendar offers an easy way to link them. And iPhone users can synchronize their mobile calendar with Outlook by plugging their smartphone into their computer and accessing the Calendars tab in the iTunes options menu. Automating the process of syncing your calendars means you’ll never mix up appointments. And if you share your business calendar with your employees, it ensures that everyone is always on the same page.
Sync your social media accounts. A strong presence on Facebook and Twitter can help you engage your customers and grow your business. Mobile apps can help you keep your business profiles fresh when you’re on the go, but reposting those updates on each platform individually can be a chore especially from a tiny smartphone screen. Fortunately, there’s an easy way to automate the process of synchronizing social media posts between your business profiles. Simply visit this page to link your Facebook and Twitter accounts. After that, go ahead and use the Facebook mobile app to post updates, news or promotions to your business’s Facebook page, each post will be automatically funneled to your Twitter followers as well.
Posted in Best Practices for Merchants, Mobile Payments, Small Business Improvement, Smartphone Tagged with: all-in-one, Android, apps, automate, automate the process, automating, box, business documents, business profiles, camcard, devices, dropbox, Facebook, google drive, icloud, iOS, Iphone, linkedin, Mobile Apps, mobile device, networking, organizing, productive, skydrive, small business, smartphone, synchronize, synchronizing social media, syncing, tablet, twitter, web-connected
February 20th, 2014 by Elma Jane
Android-iPhone-Credit-Card-Reader
Several options exist for mobile credit card processing.
Credit card processing on iPhone/ipad/Android/BlackBerry or Tablets – Using NTC’s portable credit card readers, merchants can now swipe credit cards on iPad or Android tablet devices. NTC’s Virtual Merchant solution allows users to download a secure application to interfere your smartphone with our merchant account services seamlessly. The application and credit card processing data on the carriers network or a WiFi connection to the internet.
NTC’s MagTek Bullet Swipe Credit Card Reader for Android Phones and Tablets.
Using any Android 2.2. or higher device you can process credit card transactions securely to the smartphone via Bluetooth and utilize wireless devices internet connection (WiFi or Carrier) to send the credit card processing data encrypted for processing approval.
Security anywhere. With the BulleT Secure Credit Card Reader Authenticator (SCRA), security comes with the flexibility and portability of a Bluetooth wireless interface. Small enough to fit into the palm of your hand, the BulleT enables secure wireless communications with a PC or mobile phone using the popular Bluetooth interface. Not only does the BulleT encrypt card data from the moment the card is swiped, but it also enables card authentication to immediately detect counterfeit or altered cards.
Ideal for merchant services accounts and financial institutions’’ mobile credit card processing, NTC’s BulleT offers MagnaSafe credit card processing security features with the convenience of a Bluetooth interface. This powerful combination assures credit card data protection, transaction security and convenience needed to secure mobile credit card processing with strong encryption and 2-factor authentication. The BulleT is specifically designed to leverage the existing magnetic stripe credit card reader as a secure token empowering cardholders with the freedom and confidence of knowing that their credit card transactions are secure and protected anytime, anywhere. Android Credit Card Swipe Reader for Android Phones and Tablets on your wireless mobile merchant account.
NTC’s MagTek iDynamo Credit Card processing swipe reader for iPhone and Ipad.
Credit card processing on an iPhone has never been easier. Simply attach NTC’s iDynamo card reader to your iPhone or iPad device, install our Virtual Merchant software from the App Store and you’re ready to go. Take advantage of lower credit card processing rates by processing swiped transactions instead of keying the credit card in later and get paid faster. From the company that leads with Security from the Inside MagTek has done it again with the iDynamo, a secure card reader authenticator (SCRA) designed to work with the iPhone and iPad. The iDynamo offers MagnasafeTM security and delivers open standards encryptions with simple, yet proven DUKPT key management, immediate tokenization of card data and MagnePrint card authentication to maximize data protection and prevent the use of counterfeit cards. Mobile merchants can now leverage the power of their iPhone/iPod Touch products without the worries of handling or storing sensitive card data at any time. Ideal for wireless mobile merchant accounts and mobile credit card processing, the iDynamo offers MagneSafe security features combined with the power of iPhone and iPod Touch products. This powerful combination assures convenience and cost savings, while maximizing credit card data protection and credit card transaction security from the moment the card is swiped all the way to authorization. No other credit card reader beats the protection offered by a MagnaSafe product.
Other credit card devices claim to encrypt data in the reader. NTC’s iDynamo encrypts the data inside the read head, closest to the magnetic stripe and offers additional credit card security layers with immediate tokenization of card data and MagnePrint card authentication. This layered approach to security far exceeds the protection of encryption by itself, decreases the scope of PCI compliance, and reduces fraud.
NTC’s iDynamo is rugged and affordable, so it not only withstands real world use, it performs to the high standards set by MagTek as the leader in magnetic credit card swipe reading products for nearly 40 years.
Posted in Credit card Processing, Credit Card Reader Terminal, Credit Card Security, Digital Wallet Privacy, e-commerce & m-commerce, Electronic Payments, Internet Payment Gateway, Merchant Services Account, Mobile Payments, Mobile Point of Sale, Payment Card Industry PCI Security, Smartphone Tagged with: Android, android phones and tablets, authenticator, blackberry, bluetooth, card authentication, credit card processing data, devices, encrypt card data, encrypted, internet, ipad, Iphone, magnetic stripe, magtek bullet, merchant account, merchant services accounts, Merchant's, mobile credit card processing, portable credit card readers, process credit card transactions, processing approval, secure, secure application, secure token, smartphone, swipe credit card reader, swipe credit cards, tablets, transaction security, virtual merchant, wifi, wireless devices internet connection
