March 17th, 2023 by Admin
Best Practices for Merchants to Get The Lowest Rates Possible.
Overview
When you settle your transactions each day, National Transaction’s network routes them to the respective Card Associations (Visa, MasterCard, Discover) and debit networks through Interchange. Every transaction is assigned an Interchange category based on card type (credit, debit, rewards, purchasing) industry type (retail, e-commerce, etc) and qualification elements (swiped card, key entered, etc).
What is Interchange?
Interchange is the system where transactions are submitted for payment from the Acquirer or Merchant Processor to the Card Issuer or Debit Network. The Card Associations and Debit Networks establish the rules and manage the Interchange of all transactions. Read more of this article »
Posted in Best Practices for Merchants Tagged with: Discover, key entered, MasterCard, POS device, swiped card, Visa MasterCard American Express
February 8th, 2023 by Admin
The credit card processing industry is about to experience an infrastructure shift. The terminology reads like alphabet soup so we’ll start with a list of the (not so) new technologies. Essentially magnetic swipe readers are going to be phased out and new Chip & PIN cards or chip-based payment cards will slowly replace them over the next few years. The key date on the radar is October 2015. Read more of this article »
Posted in Uncategorized Tagged with: EuroPay, MasterCard, Near Field Communication, Visa MasterCard American Express
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 1st, 2017 by Elma Jane
3D Secure Authentication
One of the biggest frustration for e-Commerce businesses has been the risk of chargebacks. If a shopper were to tell their issuers that they did not authorize an Internet purchase with their credit card, the merchant can lose the chargeback and the product.
By using 3D Secure capabilities, merchants get detailed evidence of authorized purchases “authentication data”.
The authentication data, together with an authorization approval gives you a transaction that is guaranteed against the most common types of chargebacks: Cardholder not authorized and cardholder not recognized chargebacks.
3D Secure is a security tool that enables cardholders to authenticate their identity to their card issuer through the use of Visa’s Verified by Visa and MasterCard’s SecureCode services.
3D Secure adds another layer of security to cardholders by preventing fraudulent purchases in an e-Commerce environment and reducing the number of unauthorized transactions.
NTC’s Virtual Merchant users processing transactions in an integrated e-Commerce environment are able to take advantage of this functionality.
3D Secure processing is supported with MasterCard and Visa transactions only. Other card types will process as normal and will not trigger 3D secure processing.
For e-Commerce Electronic Payments set up with 3D Secure
call now 888-996-2273! or click here NationalTransaction.Com
Posted in Best Practices for Merchants, Credit Card Security, e-commerce & m-commerce, Electronic Payments, Visa MasterCard American Express Tagged with: chargebacks, credit card, data, e-commerce, electronic payments, MasterCard, merchant, Security, transaction, visa
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
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
September 21st, 2016 by Elma Jane
PCI compliance applies to any company, organization or merchant of any size or transaction volume that either accepts, stores or transmits cardholder data.
Any merchant accepting payments directly from the customer via credit or debit card must be Compliant. The merchant themselves are therefore responsible for becoming Compliant, as the deadline for the merchant becomes overdue.
Understanding and knowing the details of Payment Card Industry Compliance can help you better prepare your business. Because failing and waiting to become compliant or ignoring them, could end up being an expensive mistake.
The VISA regulations have to adhere to the PCI standard forms as part of the operating regulations. The regulations signed when you open an account at the bank. The rules under which merchants are allowed to operate merchant accounts.
The Payment Card Industry Data Security Standard (PCI DSS) is a proprietary information security standard for organizations that handle branded credit cards from the major card schemes including Visa, MasterCard, American Express, Discover, and JCB.
Posted in Best Practices for Merchants, Credit Card Security, Payment Card Industry PCI Security, Visa MasterCard American Express Tagged with: American Express, cardholder, compliance, credit, customer, data, debit card, Discover, jcb, MasterCard, merchant, Payment Card Industry, payments, PCI, transaction, visa
January 14th, 2016 by Elma Jane
We would like to let our customers know of additional benefits that are coming, in addition of the protection that chip card technology provides.
On January 24, Verifone will release a software update for your card terminal that will include two important new features:
- PIN Debit: With this feature, when your customer pays with a Visa, MasterCard or Discover chip debit card, your terminal will allow you to process it as a debit transaction. The update will change the prompts you’re used to seeing based on how the card is configured.
- Tip Adjust: If your business accepts tips, you will now have the option to add the tip at the time of sale or adjust it later, just like with non-chip card transactions. To use the tip adjust feature, simply skip the tip prompt during the sale.
Once the download is available, your card terminal will automatically receive the new application during its monthly update. For best results, leave your terminal on overnight to ensure it receives the update.
We appreciate your business and we are committed to providing you with solutions to ensure your ongoing transition to chip card acceptance is smooth.
For more information on terminal upgrade, please visit www.chipcardsuccess.com.
Start accepting credit card payments at your business with the following features on your new POS terminal: NFC + EMV PIN & Signature capable. Give us a call now at 888-996-2273 or visit our website www.nationaltransaction.com Payments Expert for Travel Merchants and more!
Posted in Best Practices for Merchants, EMV EuroPay MasterCard Visa, Near Field Communication, Point of Sale, Travel Agency Agents, Visa MasterCard American Express Tagged with: card, customers, EMV, MasterCard, merchants, nfc, payments, POS, transaction, travel, visa
December 1st, 2015 by Elma Jane
Merchant account Aggregators has one merchant account that they let people use. You get quick setup, and get shut down quickly. A post approval risk management technique!
What’s the problem with Aggregators? If anything unusual happens their only recourse is to freeze your account entirely or hold your money. Most Aggregators are hard to get hold of because they don’t have human customer support.
Visa and MasterCard monitor Aggregators very closely. Once an individual or business sells more than $100,000, they force the Aggregator to issue individual, traditional Merchant Accounts for the business.
Aggregator is not intended as a long term, scalable solution to accepting payments.
While Aggregators have a One to Many structure, Traditional Merchant Accounts like National Transaction have a One to One structure. Traditional Merchant Accounts are not balancing the risk of your account against others, they want details on your specific situation before they give you a Merchant Account.
Traditional Merchant Account look at three things:
Your personal history “credit”, your business history if you have one and your business model. If you are working with the Right Merchant Account provider, they will know your business and understand the risk before you accept cards. They have other options to mitigate the risk than simply freezing funds or closing your account.
Why you may want to consider National Transaction over Aggregators, of the thousands of Merchant Account providers out there, only about 1% of them consider themselves High Risk Providers like National Transaction, which despite the abrasive term, are the ones who do effective underwriting.
Give us a call now at 888-996-2273 https://www.nationaltransaction.com/
Posted in Best Practices for Merchants Tagged with: aggregators, High Risk Providers, MasterCard, merchant account, payments, visa
November 17th, 2015 by Elma Jane
Get your Business Ready for Apple Pay and Let your Customers know you Accept Apple Pay!
Business owners can order Apple Pay Decals for their Stores. Each Packs includes Two Glass Decals and Two Register Decals in different sizes, and a tool for affixing the ads to the appropriate surfaces. Those who need more than five will need to call Apple to place an order.
Apple made the Apple Pay Logo available for download and provided a PDF explaining its guidelines. Apple specifies that the Apple Pay Logo should be placed ahead of similar marks for other payment services like MasterCard and Visa. The guidelines document of the payment mark are available from the Apple Site.
It’s easy!
Click here to download Apple Pay mark to use within email, on your terminal screen, and on your website.
Order Apple Pay decals for your store to put on your storefront window and register.
National Transaction Terminals with EMV/NFC (near field communication) Capability to accept Apple Pay, Android Pay and other NFC payment transactions at your business. Give us a call now at 888-996-2273.
Posted in Best Practices for Merchants Tagged with: Android Pay, Apple Pay, EMV, MasterCard, Near Field Communication, nfc, payment services, payment transactions, terminals, visa