When Not If A Data Compromise Will Occur 

A data breach can occur from inside a business just as much as it can externally.  The one common element between both is “Opportunity.” It doesn’t matter whether a business is a multi-national corporation or a small single-location.

Attacks from criminals can range in sophistication. While the sophistication of some attacks may be low, experts note that criminals continue to evolve their techniques and now they are becoming more sophisticated than ever.

While large corporations may have millions of customer records, they also maintain the resources to protect their sensitive information from the average criminal. It may take weeks, months, or even years for a criminal to penetrate the defenses of one large corporation. This is why attacks on small business are becoming so attractive to criminals.

It all goes back to the “Opportunity.” The average small business lacks the resources to properly protect their business from the variety of attacks at the disposal of criminals. Or worse, they may believe their business is of no interest to criminals. The fact is, they are less secure than larger businesses. These are all issues for the average small business owner, and more importantly, their customers.

So what can a small business do to protect themselves from the growing threat of a data compromise? 

• Background checks on employees.
• Have someone monitor the network activity.
• Protect business with proper network security protocols.
• Protect your payment’s environment by using a layered approach that includes EMV, encryption and tokenization to help prevent sensitive payment card data from being stolen.

These are all fairly simple and inexpensive ways for businesses to help protect themselves and their customers from being a victim of a costly data compromise.

Posted in Best Practices for Merchants, Credit Card Security, Travel Agency Agents Tagged with: card, customer, data, data breach, EMV, encryption, payment, Security, tokenization

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

Understanding Credit Card Processing Risk For Travel

More and more travel agents and tour operators are working in a card-not-present transaction that opens the door to travel agency credit card fraud. Travel Agencies are among the highest-risk merchants, as far as credit card processors are concerned. The reason is more likely the dispute and chargeback transactions.

So what should you do, whether you have just started your travel agency or have been in business for years to reduce risk?   

First, understand the potential liability associated with selling airfares online before you even apply for a merchant account. Understanding risk exposure will help travel agency take adequate steps to minimize losses associated with chargebacks.

A good example is an airline sales agent. A travel agency or a tour operator merchant account may be liable for the entire amount of an airline ticket, if it is successfully disputed by a customer or if it was purchased with a stolen credit card.

To reduce risk, you will need to set up card acceptance policies and procedures to address the following issues:

1. Authorization requests approved by an issuer. In most cases, airlines are liable for card-not-present transaction fraud, even when they were approved by the card issuer, because authorization approval is not a proof that the legitimate cardholder is making the purchase, nor is it a guarantee of payment.
2. As a travel agency, your organization may not necessarily be a Visa or MasterCard merchant, subject to the Credit Card Associations’ rules and regulations. In most fraud-related transactions, the airline transfers liability to the travel agency it has partnered with as part of the contractual agreement. In such cases, your organization will bear the full financial responsibility.

Selecting a payment processor is a big step, choose one with experience in working with travel agencies and other high-risk merchants. Your processor must be able to assist you with your fraud prevention procedures.

Check out National Transaction Corp. we are the travel experts when it comes to electronic payments for travel agencies! Give us a call now at 888-996-2273 or visit us at www.nationaltransaction.com

Posted in Best Practices for Merchants, Travel Agency Agents Tagged with: card, card-not-present, cardholder, chargeback, credit card, customer, fraud, high-risk merchants, merchant account, merchants, payment, processors, risk, transaction, travel, travel agencies, travel agency, travel agents

SUCCESS STORIES

Lisa an independent Travel agent started her business in October 2006. She has been using her bank as their credit card processor and use to do a manual type-in process. When she learned about NTC while trying to shop online because she thinks it’s time for her to upgrade her system, Lisa found that NTC is not only a payment expert when it comes to travel, but a technology expert as well that met her business’s needs.

Lisa is using NTC e-Pay an electronic invoicing that has streamlined their credit card processing. The process not only has it saved money with competitive rates but most importantly it saves time. The level of assistance provided went above and beyond what she expected.

NTC e-Pay is for all types of merchants in a Card-Not-Present Transaction.

Consumer Acess – consumer will have access to their transaction details on their device. For travel merchants, the consumer can have access to their itinerary while on the go!       

Customizable Pricing – when custom pricing becomes an issue, shopping carts, POS systems and booking engines tend to get really complicated.     

Fast – saves time and unnecessary cost. Moves money efficiently and effectively. Simply email payment request that can be paid in 2 simple steps.

1. The customer receives an email with a link to the payment page. Customer reviews invoice details and agrees to terms. The customer enters payment information.
2. Process, transaction is completed company is paid. You get paid in minutes, not months.

Protects you from Chargeback – the customer is required to agree to your Refund Policy, Privacy Policy, Timing and Delivery Policy. 

Secured – credit card information is processed securely. The customer is entering their credit card information without faxing or emailing credit card numbers.

The no shopping cart e-Commerce solution! – avoids the complexities of a shopping cart or integration into an accounting or POS. 

Thinking of upgrading your system give us a call at 888-996-2273 and know more of our NTC e-Pay platform. 

Posted in Best Practices for Merchants, Travel Agency Agents Tagged with: bank, chargeback, consumer, credit card, Electronic invoicing, merchants, online, payment, POS, processor, shopping carts, transaction, travel, travel agent

NTC SAVES

True Stories of our Customers in Action

Travel Agency ~ An Independent Travel Firm had been using their bank as credit card processor. When they learned that Virtuoso and NTC were going to team up they jumped on the opportunity. Not only NTC has lowered their fees but NTC has streamlined their credit card processing. The manual type-in process before has been all automated batch process now which saves time. This is a great new partnership for Virtuoso and its members.

Wholesale Hardware Industry ~ Have been turned down his business loan by a traditional bank last year due to his bankruptcy few years ago. He has no option but to borrow using a Cash Advance, making daily payment with a very high-interest rate. NTC was able to get an approval for a Real Business Loan, with monthly payment with an annual rate.

Term loan amount: $85K  –  Line of credit: $75K

Another Travel Agency ~  NTC has great customer service, the support team will patiently guide you through the PCI compliance. The payments specialist will check whether they could reduce your rates (which they did successfully!). They will even follow up regularly with status updates. NTC is exemplary!

NTC has a lot to offer, from our e-Pay Service and other New Programs for ISO’s, and Options for your merchants. NTC, The Payments and Technology Expert! Visit us at www.nationaltransaction.com or call us at 888-996-2273.

Posted in Best Practices for Merchants, Credit card Processing, Payment Card Industry PCI Security, Travel Agency Agents Tagged with: bank, Business Loan, card, cash advance, credit card, customers, loan, merchants, payment, PCI Compliance, processor, travel, travel agency

MULTIPLE PAYMENT OPTIONS

Merchants are constantly trying to find ways to improve their customer experience, like customer service and loyalty programs, but the one that is often overlooked is offering a variety of payment options.

Offering a variety of payment options can lead to your customer experience success. With more and more customers using alternative forms of payment and staying away from the traditional way which is cash and credit card.

Types of Payment Options:

E-Commerce – Online shopping is growing, your business should be adopting this trend. Merchants who do not currently offer an online store should consider taking their sales online. This will gain more exposure and will also enhance the overall customer experience.

Mobile Wallets – Consumers are becoming more comfortable doing transactions on their smartphone, by accommodating mobile wallets, your business can attract more customers and more sales for your business. Upgrading your point-of-sale (POS) to be a Near field communication (NFC)-enabled will allow you to accept any mobile wallet payment.

Offering a variety of payment options will help your business stay up to date. More payment options mean more customers. If you would like to expand your current payment processing options for your business, visit www.nationaltransaction.com or talk to our Payments Expert today  at 888-996-2273 Extension 1.

Posted in Best Practices for Merchants, e-commerce & m-commerce, Mobile Payments, Mobile Point of Sale, Near Field Communication, Point of Sale, Travel Agency Agents Tagged with: consumers, credit card, customer, e-commerce, Loyalty Programs, merchants, mobile, mobile wallets, Near Field Communication, nfc, online, payment, payment processing, Payments Expert, point of sale, POS, smartphone, transactions

THE PAYMENTS EXPERT FOR TRAVEL AGENCIES!

Helping customers protect and safeguard their payment data is one of National Transaction’s top priorities.

Our Payments Expert for travel agencies welcomes your questions, and always glad to give you assistance. We are good at what we do and we value your time.

We offer very valuable services and information to help you with your travel business needs, which saves you time, money & provide insights into your payment logistics.

National Transaction’s Electronic Payments Expert doesn’t sell anything, instead helps you choose wisely and discuss your options.

If you haven’t consulted a Payments Expert for your travel business take the time to seek one out and ask for their professional input.

visit www.nationaltransaction.com today, or call 888-996-2273 Extension 1. The Payments expert for travel agencies!

Posted in Best Practices for Merchants, Travel Agency Agents Tagged with: customers, data, payment, travel, travel agencies, travel business

POS TERMINAL YOUR MARKETING TOOL

Merchants can bring in new customers and encourage repeat business by using their point-of-sale terminal as a marketing tool. A point-of-sale terminal allows you to process payment and accept debit and credit cards, and generate more business by using the right tools.

Customize Receipts – a customized receipt becomes an advertisement. The customer knows where that receipt is from should they want to contact you.

Gift Cards Program – Gift card recipient are likely to spend over the face value of the card. Customers will appreciate simplified gift shopping.

Loyalty Program – Loyalty program makes customers think of your business first and encourages them to come back often to earn a reward.

Referral Rewards – Print an offer to reward referrals, so they can send people to you.

A merchant account is not just an expense by finding the right tool you can generate more income for your business!

visit www.nationaltransaction.com today, or call 888-996-2273 Extension 1

Posted in Best Practices for Merchants, Credit Card Reader Terminal, Point of Sale Tagged with: credit cards, customers, debit, gift Card, loyalty program, merchant account, merchants, payment, point of sale, terminal

BUSINESS LOANS

Posted in Best Practices for Merchants, Financial Services, Merchant Cash Advance, Small Business Improvement Tagged with: funding, loans, Merchant Processing, merchants, payment

COMPLETE DATA PROTECTION

Helping customers protect and safeguard their payment data is one of NTC’s top priorities. Experts agree that a layered approach is the most effective way to combat evolving security threats and unauthorized access to payment data.

Implementation of best practices and the latest protection technology is needed to ensure of cardholder data protection from increasingly complex and evolving security threats.

EMV is a good start to enhance data security with card authentication, cardholder verification, and transaction authorization. But a multi-layered security approach that includes encryption and tokenization provides complete data protection to both merchants and their customers.

EMV alone is not enough because EMV authenticates the validity of the card and the cardholder, but it does not secure the data. With encryption and tokenization without EMV, as a merchant, you are liable for fraudulent transactions. Encryption and tokenization are a process or system to protect sensitive cardholder data but do not authenticate the data.

EMV is a key component to a multi-layered security approach. It secures the payment transaction with enhanced functionality, by combining EMV, encryption and tokenization merchants can have a complete data protection that they need.

Posted in Best Practices for Merchants, Credit Card Security, EMV EuroPay MasterCard Visa Tagged with: card, cardholder, customers, data, data protection, data security, EMV, encryption, merchants, payment, payment transaction, Security, tokenization, transaction