February 23rd, 2016 by Elma Jane
Cardless ATM’s Could Help Push Mobile Wallet Adoption
The mobile wallet will be the payment method in five to 10 years.
Cardless ATM transactions is a great way to introduce smartphones as payments devices. It could help with the adoption of mobile payments and wallets. Mobile Smart Phones will become the piece of plastic and cards will be a thing of the past…
A multinational banking corporation intends to use (NFC) near-field communication for its service. It will let customers leverage NFC technology on their smartphones to authenticate at the bank’s ATM without a debit card.
An NFC cardless ATM transactions could be compatible with Apple Pay which uses NFC technology.
Benefits:
Speedier ATM cash withdrawal takes about 15 seconds without the debit card compared with 60 to 90 seconds with a debit card, whether it’s a chip or magnetic-stripe transaction.
Safer ATM transaction. No physical connection between the phone and ATM, skimming device to intercept the transaction is gone.
The barcode represents the time of day and what terminal the transaction is taking place at. Everything is tokenized.
Cardless ATM transactions are interesting and an appropriate evolution.
Posted in Best Practices for Merchants, Near Field Communication, Smartphone Tagged with: banking, cards, debit card, Mobile Payments, mobile wallet, Near Field Communication, nfc, payments, transactions
December 17th, 2015 by Elma Jane
Mobile Payments – It is bound to see more actions with tech giants Apple, Google and Samsung in mobile payment trends. We will also see new technologies like smartwatches, bracelets and rings that will give us the ability to provide payment options.
NFC – Near Field Communication, another familiar face among the payment trends. NFC, however, goes way beyond making payments using smartphones. These speed up POS payment processing quickly and easily without requiring a PIN or signature. While there are other POS payment methods, such as QR codes, NFC will come out on top. Merchants should ensure they have an overview of the current Point-of-Sale options and should, if needed, upgrade to the latest technology.
Security: Tokenization and biometric authentication will have a strong influence on the payment industry.
Tokenization – when applied to data security, is an extremely interesting method of securing credit card data. As the credit card numbers are substituted by tokens that has no value, then no harm can be done if tokens are stolen, which makes tokenization a secure process.
There are several new inventions when it comes to payment processing authentication such as password, PIN, and fingerprint methods. But they are weak so two-factor authentication is increasingly used to improve security.
Biometrics Authentication – like finger print scan, facial recognition, voice recognition, and pulse recognition are set to become increasingly significant. This will increase both security and convenience.
International E-Commerce – It’s important that merchants offer shoppers their preferred local payment method. Merchants who are looking for e-commerce success will need to create an international strategy. Merchants should also consider checking with their payment service providers. Providers know their way around to alternative payment methods.
Cash on the Retreat – Cashless Society? Some countries in Europe are certainly cutting down on the usage of cash. In Sweden, it is now almost impossible to use cash to pay for bus tickets. Acceptable payment methods include customer cards, credit cards, and payments via smartphone apps. Traditional cash-based bakeries no longer exist and instead, now display signs requesting that customers use cashless payment methods for even the smallest amounts. The situation in Denmark is similar; the government is currently debating whether or not to release smaller retailers from the obligation of having to accept cash as a payment method. Cash is on the retreat, and alternative payment methods are advancing. However, cash is still on the list.
Real-Time Payments (Instant Payments) – The European Central Bank (ECB) will bring instant payments strongly in the near future. Instant or real-time payments are a trend which will be with us for a long time to come.
Regulatory Changes – The first Payment Services Directive (PSD) from 2007 is still currently implemented domestically. After a tough two-year negotiation period, the EU has now, finally, agreed on a second payment services directive (PSD2). The European Banking Authority (EBA) is set to develop more detailed guidelines and regulatory standards for various industries. Payment industries should begin preparing themselves now for implementation, doing this will allow them to be ready for the appropriate steps necessary in 2016/2017.
Posted in Best Practices for Merchants, e-commerce & m-commerce, Near Field Communication, Point of Sale, Travel Agency Agents Tagged with: Apple, biometric, credit card, data security, e-commerce, google, merchants, Mobile Payments, Near Field Communication, nfc, payment industry, payment methods, payment options, payment processing, payment service providers, payment services, payment trends, payments, PIN, point of sale, POS, qr codes, real-time payments, Samsung, tokenization
December 16th, 2015 by Elma Jane
Google’s contactless payment solution, Android Pay, will now be available through the mobile checkouts of several Android apps in the U.S.
With this addition, it avoids having to pull out your card everytime you make a purchase, meaning card data never makes it to the merchants. A good news for anyone who is concerned about privacy.
Android Pay is compatible with all Near Field Communication (NFC) or Host Card Emulation (HCE) enabled devices using any OS released since KitKat.
With Coca-Cola signing up as the first merchant in the Google program, a new loyalty program was recently released for the mobile wallet, by tapping your phone on an NFC-enabled Coke vending machine, you’ll get a Coke and get points added into your Android Pay Account for future purchases.
http://www.pymnts.com/news/payment-methods/2015/android-pay-now-in-app-payment-option/
Posted in Best Practices for Merchants, Credit Card Security, Mobile Payments, Smartphone Tagged with: Android Pay, card, card data, contactless payment, HCE, host card emulation, loyalty program, merchants, mobile wallet, Near Field Communication, nfc, payment
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
November 13th, 2015 by Elma Jane
It’s important for merchants to understand the basic of how a credit card terminal works. It is the channel through which the process flows and the merchants can choose the right one for their processing needs, whether they use a point-of-sale (POS) countertop model, a cardreader that attaches to a smartphone or mobile device, a sleek handheld version for wireless processing or a virtual terminal for e-commerce transactions.
A credit card terminal’s function is to retrieve the account data stored on the payment card’s EMV microchip or a magnetic stripe and pass it along to the payment processing company (also known as merchant account provider).
For card-not-present (CNP) – mail order, telephone order and online transactions – the merchant enters the information manually using a keypad on the terminal, or the e-commerce shopper enters it on the website’s payment page. The back half of the process remains the same.
The actual data transmission goes from the terminal through a phoneline or Internet connection to a Payment Processing Company, which routes it to the bank that issued the credit card for authorization.
In card-present transactions where the card and cardholder are physically present, the card is connected to the reader housed in the POS terminal. The data is captured and transmitted electronically to the merchant account provider, who handles the authorization process with the issuing bank and credit card networks.
A POS retail terminal with a phone or Internet connection works best in a traditional retail setting that deals exclusively in card present transactions. For a business with a mobile sales, a mobile credit card processing option like Virtual Merchant Converge Mobile relies on a downloadable app to transform a smartphone or tablet into a credit card terminal equipped with a USB cardreader.
Wireless Terminals are compact, allowing you to accept credit cards in the field without relying on a phone connection. If you process debit cards, you’ll need a PIN pad in addition to your terminal so cardholders can enter their personal identification number to complete the sale.
Selecting the right terminal for your credit card processing needs depends largely on the type of business you run and the sorts of transactions you process. Terminals are highly specialized and provide different services. At National Transaction we offer a broad range of terminals with NFC (near field communication) Capability to accept Apple Pay, Android Pay and other NFC/Contactless payment transactions at your business. An informed business decision benefits your bottom line. Start accepting credit cards today with National Transaction.
Posted in Best Practices for Merchants, Credit card Processing, e-commerce & m-commerce, EMV EuroPay MasterCard Visa, Mobile Point of Sale, Point of Sale Tagged with: Android Pay, Apple Pay, card-not-present, card-present transactions, cardholder, cardreader, cnp, contactless payment, Converge Mobile, credit card, credit card networks, credit card terminal, debit cards, e-commerce, EMV, magnetic stripe, mail order, merchant account provider, merchants, microchip, mobile credit card processing, mobile device, Near Field Communication, nfc, online transactions, payment processing company, PIN pad, point of sale, POS, POS terminal, smartphone, telephone order, virtual merchant, virtual terminal, wireless processing
October 13th, 2015 by Elma Jane
What can near field communication do for individual and how can it make lives easier. Many uses of NFC technology offer benefits in a number of everyday tasks ranging from paying for groceries to receiving adequate health care treatments.
Check this out if the benefits are worth it:
Contactless Payments – well-known use of NFC technology is for contactless payment. Customers can use their smartphone over a card reader to make a purchase without swiping or counting out cash. This saves time and also reduces the chances of losing a credit card that comes with carrying multiple cards around.
Health Care – With NFC technology, hospitals can better track patient information and doctors’ notes in real-time. This helps prevent the wrong medications from going to the wrong patient and creates a streamlined system focused on the best in patient care.
Information Sharing – NFC tags most common way NFC is currently used on Android and Windows phones. Using your Phone or Tablet, you can tap a strategically-placed NFC tag, which prompts your phone to take action on something, like automatically prompts your phone to enable Wi-Fi, disable sounds and decrease brightness. Exchange information between two Android phones.
Pairing with Devices – Smart household appliances are adopting NFC. LG’s smart washing machines let you pair your phone with the machine so that you can remotely monitor the washing cycle.
Social Networking Social networking is booming, and NFC tags are looking to get in on the action. NFC allows users to interact with each other and update their location and other info without any unnecessary log-ins or tapping through menu screens.
Transportation – Swiping a smartphone not only allows the passenger access to the subway but also keeps track of the number of trips he has left. Passengers can come and go much faster and easily pay for extra trips.
Posted in Best Practices for Merchants, Near Field Communication, Smartphone Tagged with: Android, card reader, contactless payment, credit card, health care, Near Field Communication, nfc technology, smartphone
October 6th, 2015 by Elma Jane
If you accept credit cards and don’t know what EMV is here is what you need to know.
EMV stands for Europay, MasterCard and Visa. A credit card that had a chip embedded in it is an EMV. EMV Cards have been standard in Europe for more than 10 years because they’re more secure than magnetic stripe cards. Magnetic stripe cards doesn’t change, it has static data, which makes them easy to clone. The chip embedded card makes it more difficult and costly to counterfeit because the data that is transmitted changes each time the card is read. This means less fraud.
Liability Shift rules set by Visa and MasterCard as of October 1st. The liability for fraud carried out in physical stores with counterfeit cards belongs to the merchant if it has not yet upgraded its POS system to accept EMV-enabled chip cards.
- Calculate your risk – Consider the cost of replacing your point-of-sale (POS) terminal vs. potential risk. Whether you replace it now or at a later time, eventually all businesses will have to replace their POS terminals.
- Educate your staff – Educated employees translate to better-educated customers. Merchants can help customers better understand this change and what it means for them.
- Upgrade your POS system – Consider using an EMV compliant credit-card reader on a wireless device for an ultra-secure mobile solution. This is also a chance to upgrade other options, such as near field communication NFC technology, which lets consumers use their mobile devices to make payments at the point of sale.
National Transaction Terminals with EMV and NFC (near field communication) Capability To accept Apple Pay, Android Pay and other NFC Transactions at your business. You will need to adopt point-of-sale devices with NFC/contactless readers.
National Transaction offer a range of options to suite your specific needs.
If you’re using Virtual Merchant Mobile now called Converge please contact our office at 888-996-2273 to know your options.
Posted in Best Practices for Merchants, Credit Card Reader Terminal, Credit Card Security, EMV EuroPay MasterCard Visa Tagged with: Android Pay, Apple Pay, chip cards, contactless readers, Converge, credit cards, EMV, EuroPay, magnetic stripe, MasterCard, merchants, Near Field Communication, nfc, payments, POS, terminal, Virtual Merchant Mobile, visa
September 29th, 2015 by Elma Jane
There are three contenders competing for dominance in mobile payments.
NFC – or near-field communication, is a contactless data transfer system similar to RFID. When two NFC-enabled devices come into range, you can transfer data from one to the other (such as bringing a phone in range of a credit card terminal).
NFC is found in a lot of phones, especially the flagship devices from Samsung, LG, and Sony. Apple finally jumped into the NFC game in 2014, and Google relaunched its mobile payments service as Android Pay in 2015. Samsung also launched its own app, aptly named Samsung Pay, in 2015.
NFC is a safe method for payments. Sensitive data is stored in a secure element, either built into the SIM card of a phone or placed in a separate chip. In most cases, retailers never actually see your card or bank account data.
QR Codes – or quick-response codes, have the sort of ubiquity that NFC lacks. They work a bit like your standard bar codes, except that instead of relying on one-dimensional analog scanning, they are digital. That means that with a QR code reader app, your smartphone’s camera can be temporarily converted into a scanner. QR codes can embed way more information than your standard bar codes, which gives them the power to do things like open mobile sites, direct you to YouTube Videos, and even enable you to complete mobile payments.
iBeacon – is an Apple-developed technology that uses Bluetooth Low-Energy (BLE, or sometimes also called Bluetooth Smart). Unlike the other two types of technology, it’s really still in the developmental stages. While it can be used for mobile payments, at the moment the biggest application for iBeacon is actually as proximity alert or geo-fence that can go where GPS doesn’t.
It works like this: iBeacon units are set up throughout a building (such as a department store). When someone with an iBeacon-enabled device comes into range of those beacons, they transmit information. Some of the ways this technology could be used would be to transmit mobile coupons or other special offers, to guide customers throughout the store by department, or even to help them find specific items on a shopping list.
NFC devices need to be within 8 inches (though 2 inches is really most effective). iBeacons, on the other hand, have a range of 50 meters, or about 165 feet.
For payments, iBeacons would work nearly the same as NFC: the phone would wirelessly transmit payment information to the terminal or beacon via Bluetooth.
It’s also worth noting that while iBeacons are Apple technology, they are not exclusive to iOS devices. The phone just needs to have Bluetooth Smart and the appropriate app.
Samsung announced its own version of the iBeacon, called Proximity, at its 2014 developer conference in November. it works the same way as iBeacons, but rather than going through an app, Proximity works directly with the phone’s hardware.
Posted in Best Practices for Merchants, Mobile Payments, Mobile Point of Sale, Smartphone Tagged with: Android Pay, Apple, bank, card, credit card terminal, google, iBeacon, LG, Mobile Payments, Near Field Communication, nfc, payments, qr codes, Samsung, Samsung Pay, Sony
September 25th, 2015 by Elma Jane
National Transaction Terminals with NFC (near field communication) Capability to accept Apple Pay, Android Pay and other NFC payment transactions at your business. You will need to adopt point-of-sale devices with NFC/Contactless readers.
National Transaction offer a range of options to suite your specific needs.
Give us a call now! 1-888-996-2273 or go to www.nationaltransaction.com
Posted in Best Practices for Merchants, Credit card Processing, Credit Card Reader Terminal, Credit Card Security, Mobile Point of Sale, Near Field Communication, Point of Sale, Smartphone Tagged with: Android Pay, Apple Pay, contactless readers, Near Field Communication, nfc, payment, point of sale
September 24th, 2015 by Elma Jane
If you accept credit cards and don’t know what EMV is here is what you need to know.
EMV stands for Europay, MasterCard and Visa. A credit card that had a chip embedded in it is an EMV. EMV Cards have been standard in Europe for more than 10 years because they’re more secure than magnetic stripe cards. Magnetic stripe cards doesn’t change, it has static data, which makes them easy to clone. The chip embedded card makes it more difficult and costly to counterfeit because the data that is transmitted changes each time the card is read. This means less fraud.
Questions to ask to help you decide about terminal upgrade.
- Calculate your risk – Consider the cost of replacing your point-of-sale (POS) terminal vs. potential risk. Whether you replace it now or at a later time, eventually all businesses will have to replace their POS terminals.
- Educate your staff – Educated employees translate to better-educated customers. Merchants can help customers better understand this change and what it means for them.
- Upgrade your POS system – Consider using an EMV compliant credit-card reader on a wireless device for an ultra-secure mobile solution. This is also a chance to upgrade other options, such as near field communication NFC technology, which lets consumers use their mobile devices to make payments at the point of sale.
Posted in Best Practices for Merchants, Credit Card Reader Terminal, Credit Card Security, EMV EuroPay MasterCard Visa, Mobile Point of Sale, Near Field Communication, Point of Sale Tagged with: chip, credit card reader, credit cards, data, EMV, emv cards, EuroPay, magnetic stripe cards, MasterCard, merchants, Mobile Devices, Near Field Communication, nfc, payments, point of sale, POS terminal, visa
