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
In today’s fast-paced digital world, customers expect businesses to offer a variety of payment options. Electronic payment processing has become essential for businesses of all sizes, from small startups to large corporations. This article will provide you with all the information you need to know about electronic payment processing and why National Transaction Corporation is the best choice for your business.
What is Electronic Payment Processing?
Electronic payment processing refers to the electronic transfer of funds from a customer’s account to a business’s account. This can be done through various methods, including credit cards, debit cards, e-checks, and mobile payments. Electronic payment processing is faster, more secure, and more convenient than traditional paper-based methods.
Benefits of Electronic Payment Processing
Faster Processing Times: Electronic payments are processed much faster than paper checks, which can take several days to clear.
Improved Security: Electronic payment processing is more secure than traditional methods, as it uses encryption and other security measures to protect sensitive data.
Increased Convenience: Customers can make payments from anywhere at any time, using their computer, smartphone, or tablet.
Reduced Costs: Electronic payment processing can save businesses money on processing fees and other costs associated with traditional methods.
Improved Cash Flow: Businesses can receive payments more quickly, which can improve their cash flow.
Why Choose National Transaction Corporation?
National Transaction Corporation is a leading provider of electronic payment processing solutions. We offer a wide range of services to businesses of all sizes, including:
Credit and Debit Card Processing: We accept all major credit and debit cards, including Visa, Mastercard, American Express, and Discover.
E-Check Processing: We offer e-check processing services, which allow customers to make payments directly from their bank account.
Mobile Payment Processing: We offer mobile payment processing solutions, which allow customers to make payments using their smartphone or tablet.
Online Payment Processing: We offer online payment processing solutions, which allow businesses to accept payments through their website.
At National Transaction Corporation, we are committed to providing our clients with the best possible service. We offer:
Competitive Rates: We offer competitive rates on all of our services.
Reliable Service: We provide reliable service that you can count on.
Excellent Customer Support: We offer excellent customer support, available 24/7.
Secure and Compliant Solutions: We are PCI DSS compliant, ensuring the security of your customers’ data.
Make the Switch to Electronic Payment Processing Today
If you’re not already accepting electronic payments, now is the time to make the switch. National Transaction Corporation can help you get started with our easy-to-use and affordable solutions. Contact us today to learn more about how we can help your business grow.
In our second installment, we talked about NTC’s newest solution, NTC ePay. This third and final reason in this series we will go over how NTC keeps your cashflow going.
Due to the history of travel businesses, many travel agencies are given a travel merchant account with monthly credit card processing volume caps. This means merchants are only permitted to handle a specific number of credit card transactions or volume amount per month. Once that limit amount is reached, the merchant can no longer take credit cards for purchases that month. This keeps a business, especially an e-commerce merchant that relies on credit card payments, from operating effectively.
Imagine the impact on as a travel agent when you no longer have to worry about having your cash flow stopped. We work very hard to eliminate holds and reserves on all our travel merchant accountsaccounts.
Now imagine getting approved for large volume.
You will agree that those two factors will have a huge positive impact on your business growth.
Most merchant providers usually hold funds from travel agents, because historical data shows that consumers are much more likely to dispute and chargeback travel agency transactions because of a change in their travel plans.
You may be wondering, why do we not hold your funds?
Well simply said, because we understand your business. NTC has been doing business with travel professionals like you for over 20 years and we understand that holding funds creates a huge hassle for your operation. We understand that cash flow is essential to your continued success.
With NTC travel agents can feel confident that they will maintain cash flow to help their business operate smoothly and efficiently without interruptions.
Why do travel merchants flag large transactions?
Many times travel merchants run tens of thousands of dollars worth of transactions and their processor tells them they’re going to simply hold the funds and pay the merchant at a later date.
We understand how critical it is to have funds available because many agents have shared how with other merchant providers, their cash flow has come to a complete halt at times.
Remember that when you choose a travel payment processor, you must be sure to choose one with experience in working with travel agencies like NTC.
At NTC, we assist you in developing and implementing your fraud prevention procedures, so that you can be proactive in identifying and correcting potential weak spots in your processing cycle.
Over these past three blog articles, we have shared the three main reasons why travel agents like you prefer National Transaction Corporation. Now we want to hear from you as to which of these three reasons is most important for your travel agency business. We’d love to read your comments below.
Credit card transaction types are categorized based on the level of risk and processing cost associated with them. Here’s a breakdown of the common types:
1. Qualified
Definition: These are considered the “safest” and least expensive transactions for processors to handle.They typically involve traditional credit or debit cards processed in person with a physical card swipe or chip insertion.
Characteristics:
Card is present during the transaction
Cardholder’s signature is captured (if required)
AVS (Address Verification Service) matches the billing address on file
CVV (Card Verification Value) is provided and matches
Transaction meets all security protocols and risk assessment criteria set by the card issuer and processor.
Examples:Swiping a standard Visa or Mastercard credit card at a retail store.
2. Mid-Qualified
Definition: These transactions fall in between qualified and non-qualified in terms of risk and processing cost. They often involve card-not-present transactions or cards with higher reward structures.
Characteristics:
Manually keyed-in transactions (online, over the phone, or mail order)
Rewards cards with higher cashback or points benefits
Business or corporate cards
Transactions where AVS or CVV information is not provided or doesn’t match
Examples: Entering your credit card details online to purchase something, using a rewards card with travel benefits.
3. Non-Qualified
Definition: These transactions are considered the riskiest and most expensive to process.They often involve international cards, manually keyed transactions without proper security measures, or cards with very high reward programs.
Characteristics:
International credit cards
Manually keyed transactions without AVS or CVV verification
High-risk businesses like online gambling or adult entertainment
Keyed transactions for business or corporate cards
Examples: Using a foreign-issued credit card, manually processing a transaction without verifying the cardholder’s address.
Why does this matter?
Processing Fees: Merchants are charged different fees for each transaction type.Qualified transactions have the lowest fees, while non-qualified transactions have the highest.
Tiered Pricing: Many payment processors use tiered pricing models, categorizing transactions into these types and charging accordingly. This can sometimes be confusing or lead to unexpected costs for merchants.
Interchange Fees: The card networks (Visa, Mastercard, etc.) also charge interchange fees for each transaction, which vary based on factors similar to those used for transaction type categorization.
Understanding these transaction types is crucial for merchants to:
Negotiate better processing rates: By understanding the factors that influence transaction categorization, merchants can negotiate better fees with their processors.
Optimize payment processing: Merchants can take steps to minimize the number of mid-qualified and non-qualified transactions, such as encouraging in-person payments or using address verification systems.
Control costs: By being aware of the different transaction types and their associated costs, merchants can better manage their payment processing expenses.
Remember: The specific criteria for each transaction type can vary depending on the payment processor, card network, and individual merchant account. It’s always best to clarify with your payment processor to understand their specific categorization rules and fee structures.
To establish a merchant account for your business call now 888-996-2273 or click here NationalTransaction.Com
With National Transaction Corporation, your merchant account is a direct connection to a world of commerce. Accepting debit and credit card transactions today is a must and National Transaction can help your business grow. Increasing your sales and cash flow while lowering your rates and fees is our main focus.
With One account you can combine your cash, retail credit card, e-commerce and over the phone transactions for a consolidated, all-in-one approach to performing and tracking your business transactions. Accept Credit Cards and Grow Your Business with a Merchant Account from National Transaction Corporation and increase your bottom line, speed up your cash flow position and expand the reach of your business. We’re here to help you all along the way. Read more of this article »
With smartphone users on the rise Nielson says that in 2012 47% of smartphone owners use mobile shopping apps in the Shopping / Commerce category. Although these do not account for actual mobile payment transactions they show that smartphone users are frequently turning to their mobile devices to find deals and purchase information.
But what exactly is m-commerce? M-commerce is a hybrid technology that takes web technologies that scale screens to mobile devices like Apple iPads and Android tablets. The commerce end of it comes from shoppers and merchants actually executing payment transactions over mobile devices of some form. Read more of this article »
Travel Agents prefer NTC ePay because they get paid faster with their very own “Buy Now” button or simply by requesting payments by email!
In our last installment, we shared how the security of NTC Payment Processing works for you. In this second part of our three-part series, we discuss the ways that the technology behind NTCePay helps your travel agency.
NTCePay offers travel agents the most innovative technology because it is fast, mobile friendly and easy to use.
Whether you use Quickbooks, Peachtree or any other accounting application, you can enter the invoice number into the ePay application for reconciliation, and you can customize your pricing to any amount you choose. Your agency can create invoice and payment links that can be posted to your website or any social media website for payment.
Things flow better when everything seems to work together, making your day a lot easier? Technology is something that can get your daily workflow to go smoothly, and NTC ePay works for you. If you need a customized solution to go with your workflow, NTC can make most anything a reality for your business workflow.
National Transaction Corporation is one of the few travel payment processing companies that can directly integrate with both TRAMS and SABRE. You can perform your bookings like you always have but have the payment flow the way you need it to. We also integrate with many booking engines and shopping carts allowing you many options that are not available by host agencies.
NTC ePay is simple, secure and sets up in just minutes. It’s a web application, so you can use it on any device you already own: your desktop, laptop, tablet or phone. It lets you add inventory items or use the quick send feature for simplified invoicing.
Our ePay product was designed from the ground up with your security in mind. Even though we encrypt data back and forth to the payment gateway, we also use the gateway to handle the cardholder’s input. NTC’s cutting-edge technology doesn’t store credit card data, nor does it transmit that data. What that means to you is that the liability is 100% on the bank and not your business, as is typically the case. The application is written and hosted on our own servers, so you can set up and be in the e-commerce business within minutes.
By the way, there are also many customizations available to you with NTC ePay which can be set up very easily by your users. Inquire with your specific process and we will meet your specific needs in the travel payment scope.
Now, when you run a social media campaign you can leverage our NTCePay technology to help you increase sales. Use our ePay links to post vacation travel packages or special sales and have customers pay in two clicks.
Next week we will share the third reason in this series why National Transaction Corporation is the preferred choice for travel agents like you.
Remember, when you need a safe and technologically advanced gateway to manage all your travel agency payments, look no further than NTC.
Feel free to call us now at 888-996-2273, if you are ready to start using NTC ePay today.
The Pew states more than half of adults in the United States now own a smartphone. The cost of not having a smartphone these days outweighs the cost of having a smart phone device. Social networking drove the rise and new smartphone and tablet apps are set to explode.
The Pew’s smartphone ownership report states that 56% of American adults now carry a smartphone according to this weeks report. Ranking the highest so far in smartphone saturation previous numbers were at 46% last year and 35% two years ago. A major milestone indeed. More than one third have a cell phone that isn’t a smartphone and 9% that don’t own a smart phone nor a cell phone. Read more of this article »
Exposure of personal information is a new challenge in todays environment, the initial exposure being a nightmare to unravel. A Javelin Strategy and Research study shows that a single data security breach can cost Billions of dollars in consumer fraud losses. Data security breaches rose 48% from 2011 in 2012 to 1,611 data breaches. Identity theft is on the rise too.
Walmart CEO Mike Duke Expecting $10 Billion in e-commerce payments 2013.
Commenting at a shareholder meeting WalMart CEO Mike Duke expected WalMarts online e-commerce site to bring in $10 Billion in transactions this year.
India Sees Spike in e-commerce and Mobile Payment Investments.
India is seeing deeper saturation of broadband rollouts connecting personal computers and laptops online at a faster pace. Big names such as Intel are keen on India’s development for market opportunities. Amazon and ebay just staked claims to India’s e-commerce playing field with deals to deliver their e-commerce services. Read more of this article »
John Stewart January 17, 2022 https://www.digitaltransactions.net/trends-like-open-banking-and-bnpl-will-sustain-e-commerces-hot-streak-a-report-says/
Open banking, single-click checkout wallets, and the hot buy now, pay later trend will all help drive e-commerce volume worldwide in the coming five years, predicts Juniper Research in a report released Monday. This momentum is likely to push online sales long after the short-term impetus from the pandemic subsides, Juniper says.
E-commerce volume totaled $4.9 trillion globally in 2021, a figure the United Kingdom-based research firm forecasts will reach $7.5 trillion in 2026, when China will control a 37% share. Wider availability of multiple e-commerce channels, including mobile devices, will propel the overall growth worldwide, Juniper says. But along with the boom in e-commerce will come a corresponding growth in fraud via identity theft, account takeovers, and fraudulent chargebacks, the report warns. China, for example, will account for more than 40% of fraud losses worldwide in 2025, at more than $12 billion, Juniper forecasts.
Open banking is a trend by which fintechs can verify balances in consumers’ accounts and transfer funds to pay for online purchases. As standards bodies work to promulgate standards for this business, e-commerce payment providers “should … partner with specialists in … specific emerging payment areas to keep pace with changing merchant expectations around acceptance types,” the research firm says in its release, referring to digital wallets and crypto as well as open banking.
Open banking has taken on a higher profile in the global payments market with efforts by both of the global card networks to acquire firms that specialize in this area. Visa Inc. has acquired Tink AB, while Mastercard Inc. bought Aiia and Finicity Corp.
Physical goods will continue to dominate e-commerce spending, the report says, accounting for 82% of payment value by 2026. To tap into the trend, Juniper advises, payments providers should support buy now, pay later plans, which allow consumers to split purchases into four equal installments paid over a six-week period at no interest. BNPL is becoming more controversial, however, as the Consumer Financial Protection Bureau has launched an investigation of the option and as reports emerge that consumers with multiple accounts are more likely to miss a payment.
While still a big trend, e-commerce sales in the U.S. market cooled significantly last year as the pandemic effect lost some of its force. Third-quarter sales in 2021 reached $214.6 billion, up 6.6% year-over-year, according to the Census Bureau, which tracks retail sales. That follows an 8.9% rise in the second quarter and three straight quarters with increases of 32% or more. Fourth-quarter 2021 results are not yet available.
With smartphone users on the rise 
The Pew states more than half of adults in the United States now own a smartphone. The cost of not having a smartphone these days outweighs the cost of having a smart phone device. Social networking drove the rise and new smartphone and tablet apps are set to explode.