Payment Card Industry Data Security Standard (PCI DSS)

The PCI-DSS is a security standard for organizations that handle branded credit cards from the major card including Visa, MasterCard, Amex, Discover, and JCB. It is designed to ensure that ALL companies that process credit card information maintain a secure environment.

PCI applies to organization or merchant, that has a Merchant ID (MID), regardless of size or number of transactions, that accepts credit card.

Merchants will fall into one of the four merchant levels based on Visa transaction volume over a 12-month period.

Does is each location required to validate PCI Compliance for multiple business locations?

If a business locations process under the same Tax ID, then you are only required to validate once annually for all locations.

Penalties for non-compliance

The payment brands may fine an acquiring bank $5,000 to $100,000 per month for PCI compliance violations. The banks will pass this fine along until it eventually hits the merchant. The bank will also terminate your relationship or increase transaction fees.

PCI Compliance Manager

To help you achieve and report compliance, we have Trustwave PCI Compliance Manager. It’s an online portal that enables you to understand requirements that apply to your business, and guides you through your self-assessment, step by step.

If you have any questions regarding your PCI Compliance please call our office at 888-996-2273. We would be more than happy to help.

Posted in Best Practices for Merchants, Credit Card Security, Payment Card Industry PCI Security Tagged with: banks, credit cards, merchant, PCI-DSS, Security, transactions

ECS VERSUS ACH E-CHECK

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

KNOWING YOUR CREDIT CARD TERMINALS

Accepting credit card payments is a must if you’re planning to start a business. It’s good to know what is out there and how it applies to your situation. So you need to learn about credit card processing machines, depending on your business.

Here are some of the different types of credit card processing machines:

Dial-Up Terminal – the grandfather of credit card processing machines. Dial-up terminals use a phone line to connect with a credit card processing company. The advantage is that they are normally inexpensive than some higher-end options. The disadvantage is slower processor speed.

IP Terminal – connect the merchant over a high-speed internet connection. The advantage of IP terminal over dial-up terminal is speed. IP machines can process transactions as fast as 3 seconds as opposed the 10 to 25 seconds that a dedicated dial-up machine might take. IP terminals now cost about the same as dial-up units and that a single DSL link can accommodate more than one credit card terminal.

Wireless Terminals – the priciest yet most convenient type is a wireless machine that runs on a wireless network, much like your mobile phone.

Virtual Terminal – virtual terminals are computers running credit card processing software connected to a credit card reader. Virtual terminals are a great addition to an office because they don’t require a standalone credit card processing terminal.

There are many options available for your business, whether you’re e-Commerce, MOTO, In-Store or Mobile there’s a credit card processing machine and platform out there that will fit your business.

Give us a call to know more at 888-996-2273 or visit us at www.nationaltransaction.com

Posted in Best Practices for Merchants, Credit Card Reader Terminal, e-commerce & m-commerce Tagged with: card reader, credit card, credit card processing, e-commerce, merchant, mobile, moto, payments, terminal, virtual terminal

HAT’s OFF TO NATIONAL TRANSACTION

Dear Virtuoso:

I wanted to praise one of our Virtuoso partners, National Transactions.

We have found National Transactions to be a wonderful partner. We have gotten excellent rates and support for our National Transaction merchant account– but more than that, their employees have helped us improve our processes, and I can already see our productivity rising. We have begun a new, online payment portal. This is an excellent tool we highly recommend!

National Transaction’s Steve Garlenski assisted and John Barbieri custom-designed a fabulous landing page – with all of our terms and conditions, cancellation penalties and places to check to authorize — and automatic receipt sent to both us and the client.

We really appreciate all they have done to help us with this important tool. It is so much better, faster and easier for us than obtaining signed paper credit card authorizations.

Thank you, Steve & John and National Transactions!

————–
Eleanor Hardy
President

The Society of International Railway Travelers®
Proud members of Virtuoso®
#1 Sellers of Virtuoso® Adventure & Specialty Travel, 2012 
Winner, 15 Magellan Awards for Excellence
Celebrating the World’s Top 25 Trains since 1983

We thrive on referrals.  Please tell your friends.

Web: http://www.irtsociety.com 
Facebook  |  IRT Blog, Track 25 

Posted in Best Practices for Merchants, Travel Agency Agents Tagged with: credit card, merchant, merchant account, online payment, travel

Is Dynamic CVV The Answer To e-Commerce Fraud?

A bank in Mexico is the first in the world to publicly experiment with this technology. With their mobile wallet application, cardholders are able to use dynamic CVC/CVV codes, which are generated every twenty minutes.

If somebody is using credit card information stolen from a data intrusion and the merchant accepting payment online asks for the CVV, it likely would have changed by that time, they would enter the wrong CVV and the transaction would be declined.

Cards with CVV code display that randomly changes will ensure that users making orders online are who they say they are. Many e-Commerce sites already ask shoppers for the CVV code during online transactions or over the phone.

The technology is an intuitive solution, but costly to issuers. Cards with displays that enable a dynamic CVV code are 10 times more expensive than chip cards.

As mobile banking, e-commerce, and m-commerce is growing, something had to change sooner or later in the online payment industry.

Posted in Best Practices for Merchants, Credit Card Security, e-commerce & m-commerce Tagged with: bank, cardholders, cards, credit card, data, e-commerce, m-commerce, merchant, mobile, online, payment, payment industry, transaction, wallet

JMK TRAVEL INC

It is my pleasure to write this testimonial for National Transaction Company!

My travel agency has been associated with this organization since 2005 and I continue to believe they are the best solution for my home based operation’s credit card merchant transactions. The process is simple, efficient and it provides me a profitable way to accept client credit cards and manage my agency’s cash flow.

Their support team is the best!

Judy K

JMK TRAVEL INC.

Posted in Best Practices for Merchants, Travel Agency Agents Tagged with: credit card, merchant, transactions, travel, travel agency

E-COMMERCE TREND

E-commerce is a virtual platform, where we can get products and services and make payments through the internet.

E-commerce trend is constantly changing, it is necessary for a merchant to watch out for the upcoming Trends in this industry for a business to success. 

To help boost your conversion rates here are the trends to be followed:

Contextual Commerce – The next big thing in payments and e-commerce. Providing complete description with images and videos to help your customer decide to purchase a product. Customization is an important factor as well to convince about the products or services.

Fast Delivery Shipping – Customer wants to receive the products after purchasing as soon as possible. So Reliable, Timely shipping means a lot.

Mobile Shopping – getting your online store ready for mobile shoppers is not an optional feature, it’s a mandatory part of a strategy.

Multiple Channels For Shopping – optimization is a great experience for shoppers. Having online store presence in different technology gadgets is a must.   

Real Time Analytics –  analyzing consumer behavior based on data entered into a system less than one minute before the actual time of use. Finds out why a customer leaves the store and prevents customer loss.

Virtual Sales Force – Hiring virtual salesforce, utilizing pop-ups and live chat  who will help customers which are similar in a physical store.     

Step ahead out of the conventional methods and adapt prevailing trends by embracing innovation so you can offer something new to your customer.

Posted in Best Practices for Merchants, e-commerce & m-commerce Tagged with: business, consumer, customer, data, e-commerce, internet, merchant, mobile, online, payments

OPERATION CHOKE POINT ENDS

The U.S. House of Representatives voted to end the Obama administration’s Operation Choke Point.

The vote was 250-169, which represented a group of all Republicans and 10 Democrats voting to revoke the law.

Operation Choke Point, which began in 2013, leveraged the government’s regulatory power over merchant banks, acquirers and payment processors, forcing them to drop clients engaged in industries like payday lending, firearms and other high-risk sectors especially online like gambling and adult entertainment.

In a statement by U.S. House Rep. Luetkemeyer, the first step has been taken to ensure that federal banking agencies can no longer compel financial or payment institutions from offering financial services to licensed, legally-operating businesses that has been a target not because of potential wrongdoing, but purely on personal and political motivations and without due process.

Posted in Best Practices for Merchants Tagged with: acquirers, banks, financial services, merchant, payment, payment institutions, processors

BOOKING TRAVEL IS EASIER!

MasterPass To Make Booking Travel Experience Even Easier For JetBlue 

MasterCard today added JetBlue as its latest merchant to accept digital payments with MasterPass. MasterPass will be available later this year on the airline’s website and mobile app, giving customers the opportunity to speed up their booking travel experience, according to a press release.

With MasterPass, shoppers can pay for the things they want at thousands of merchants with the security they demand, anywhere online or in app, using any device. The wallet securely stores shoppers’ preferred payment and shipping information which is readily accessible when they click on the “Buy with MasterPass” button and sign into their account.

U.S. consumers can sign up for a MasterPass account by visiting the MasterPass website or through a participating bank. Launched in 2013, MasterPass by MasterCard is free, easy to set up, and available anywhere you see the Buy with MasterPass button. It is currently available in 29 countries and is accepted at 250,000 merchants globally.

Accepting MasterPass by MasterCard on JetBlue’s online and in-app properties expands the relationship between the two companies. JetBlue announced in October 2015 that MasterCard would be its network partner for its co-brand portfolio.

Posted in Travel Agency Agents Tagged with: bank, customers, digital payments, merchant, mobile, mobile app, online, payments, Security, travel

NewsLetter

Posted in Best Practices for Merchants, nationaltransaction.com Tagged with: card, chip card, Electronic gift card, EMV, gift Card, merchant, mobile, payment, payment technology, processor, travel, travel industry