5 STEPS TO LOWER YOUR PAYMENT PROCESSING FEES

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "5 STEPS TO LOWER YOUR PAYMENT PROCESSING FEES"

Transcription

1 5 STEPS TO LOWER YOUR PAYMENT PROCESSING FEES

2 STEP 1: Understand the Basics of a Merchant Account Your best defense against high rates is information. This guide is intended to provide merchants with a better understanding of payment processing terms, fees and best practices as they relate to accepting credit and debit card payments. A Merchant account makes it possible for a business to accept a credit card or debit card as a form of payment. All transactions made with a debit or credit card involve the transfer of funds from the customer s account to a merchant account. Merchant accounts are not the same as the checking or savings account you have with your local bank. A merchant account is more like a contract between a provider (such as Pivotal Payments) and a business owner (Merchant), with rules about how products or services are sold and paid for. To ensure your processor offers you the best rates available for your particular payment acceptance needs, share your recent statements as a comparison. Myth Buster! Many Merchants tend to think it is difficult to get approval for a merchant account, specifically for a newly established business. This is not the case with Pivotal Payments; we have an acceptance rate of 90-95% of applicants. It's also a common belief that having the ability to accept credit card payments is too expensive for the average small/medium business owners but with Pivotal Payments we work with our Merchants to alleviate this myth. 01

3 IF YOU ARE NEW TO PAYMENT PROCESSING Pivotal Payments provides reliable and affordable merchant account solutions across North America. Our goal is to maximize our clients' revenues and performance by empowering them with safer and smarter transactions. How do I get a Merchant Account? A merchant account is like a form of credit and involves a formal application process with an acquiring institution (e.g. Pivotal Payments) or bank. It involves a thorough assessment of your credit and financial standing in order to weigh the risk associated with taking on your business. If your application is approved, you enter into a contract with the bank or acquirer. Under the contract, the acquiring bank exchanges funds with your customers bank (issuing bank) on your behalf, and pays into your merchant account for the daily payment-card activity s minus any applicable fees. 02

4 STEP 2: Understand Processing Rates and Fees Discount Rate: Visa and MasterCard assess a fee on each Visa and MasterCard sale. The fee is a percentage of the sale and is the main component of the discount rate fee. Assessment Fee: A fee charged on every Visa and MasterCard transaction for the use of their brand and network. Authorization Fee: A fee assessed per authorization for the communication to the processor s host each time a terminal initiates a transaction (sale, refund, void or decline). Minimum Discount: If your sales volume does not generate the minimum amount of discount rate fees agreed to in your contract, the difference may be assessed to your account. Batch Fee: A fee assessed each time a batch is closed (settled). Qualified Fee: A rate assessed on all transactions meeting the normal operating guidelines as stipulated by the processor. Non-qualified rate: Non-qualified transaction apply to most cards with Premium Privileges, that are Corporate cards, business cards or that are Keyed, as well as various types of transactions or batch closes that were not made the same day as the transactions. Surcharge: An additional charge that a business owner could apply when clients pay by Interac or on a cash back transaction. Chargeback fee: A fee assessed per occurrence as a result of a disputed payment initiated by the cardholder 03

5 WHAT IS INTERCHANGE? Interchange is a term used in the payment card industry to describe a fee paid between banks for the acceptance of card based transactions. Usually it is a fee that a merchant's bank (the "acquiring bank") pays a customer's bank (the "issuing bank"). When a consumer uses a debit or credit card to make a purchase, the merchant does not receive the full purchase amount, because a portion of the sale is deducted to compensate other parties to the transaction. In particular, the merchant s processor (the acquirer ), the bank that issued the card (the issuer ), and the card network that processes the transaction (the network ) all receive a portion of the transaction, with the largest portion paid to the card-issuing bank as an interchange fee. 04

6 STEP 3: Understand the Settlement Process Accepting credit and debit card payments is just the beginning. As a business owner, you will need to also understand how to tally your transactions for the day and communicate this information to your payment processor so you can get the funds deposited into your account. Batching and Funding A batch is all of the credit and debit transactions you have processed since you ended the same process the previous day. You should ideally batch out at least once a day and have your transactions settled as quickly as possible. Daily batching ensures that your transactions are processed as quickly as possible and that you are not charged higher processing fees. Monthly Statement and Fees The monthly merchant account statement includes information on all batched transactions and deposits (see a sample statement), and an itemization of fees incurred. The fee types and amounts may vary, depending on the sales contract associated with your merchant account. It s best to review these statements to get a better handle on what card types and transactions resulted in higher fees. Reconciliation Reconciliation describes the process of accounting for transactions processed and money deposited in your bank account. Depending on your sales volume and business needs, you may want to consider how frequently you would like to reconcile: daily, weekly, or monthly. It is recommended that you reconcile your account at least once a month. 05

7 STEP 4: Follow These Industry Best Practices Below are some tips to help merchants protect their business against disputes, fraudulent transactions and chargebacks. Provide accurate information during initial set up to ensure correct merchant account type and if separate Merchant IDs are required. Publish your refund policy conspicuously on your cash registers and on your website to make sure your customers know that they can return merchandise and what the policies and procedures are. When issuing a credit, make sure it s issued to the same card that made the original purchase. Merchants cannot give cash back or check refunds for a credit card purchase. Ensure the receipt only prints the last 4 or 5 digits of the payment card number. Notify your provider of promotions or sales that may increase your normal monthly sales volume in order not to raise flags. 06

8 STEP 5: Ask Your Payment Processor These Critical Questions Before Signing an Account MERCHANT ACCOUNT CHECKLIST Does the processor provide... Y/N 1 Flexible Payment Options for Terminals Are you locked into long-term rental contracts? Or does the processor provide you with options to buy or lease-to-own terminals? 2 Future-Proof Terminals Are the terminals designed to upgrade to future payment technology? Or will you be forced to upgrade when new payment types are introduced such as mobile wallets? 3 Quick Access to Cash Does the processor provide flexible financing to help grow your business? Are there restrictions or interest charges placed on loans, or can you get a loan that is free from fixed payments, timeframes and interest? 4 Ease of Integration Do you need to change your existing setup? Does the processor integrate with your existing system or customized setup? Can you easily import/export your existing customer database files? 5 Online Reporting Can you follow your business performance anytime, from anywhere? Can you export business reports in your preferred file formats (XML, Excel, PDF, etc.)? 6 Security and PCI Compliance Does the processor use sophisticated fraud and security tools to protect your business and your clients? Do they meet all PCI standards, allowing your business to benefit from additional reliability? 7 Gateway with Recurring Billing, Re-billing and Customizable User Access Levels Can you manage recurring payments to avoid potential errors? Can you immediately process transactions from repeat customers, without re-entering customer information? 8 Dedicated Merchant Support Can the processor help you deal with any issue, including chargeback resolution, risk monitoring, etc.? Are they available 365 days/year? 9 Fully Redundant System Does the processor have backup servers, to avoid downtime and keep your business up and running 24/7? 08

9 USEFUL LINKS Small and medium-sized business resources: Canada One - Business Guides Business resources including a wide range of information on government services, programs and regulations: Canada Business Network Government of Canada services for entrepreneurs: Business Start-up Assistant Find out how to write a business plan and access templates, sample business plans, market research information and statistics: Canadian Business Planning Information on starting a business in Canada: Service Canada - Starting a Business Other useful information: Visa Interchange Information MasterCard Interchange Information Canadian Code of Conduct 07

10 About Pivotal Payments Pivotal Payments is a leading provider of technology-driven global payment processing solutions to the point of sale, B2B and ecommerce industries. Our proprietary solutions include card not present, integrated POS and mobile payments that deliver efficiency and profitability to businesses across all sales channels and platforms. With a focus on security and fueled by continuous investment in research, product development and innovation, we are shaping the future of payments. Our goal is to maximize our clients' revenues and performance by empowering them with safer and smarter transactions. Learn more at: Need help with your merchant account needs? Contact us toll-free at Network with us: Copyright 2015 Pivotal Payments Direct Corp. All Rights Reserved Pivotal Payments Direct Corp. is a registered ISO/MSP of Peoples Trust, Vancouver Canada.MasterCard is registered trade mark of MasterCard International Incorporated. Trade-mark of Interac Inc.

INTRODUCTION. What is a Merchant Account? Myth Buster!

INTRODUCTION. What is a Merchant Account? Myth Buster! INTRODUCTION This guide is intended to provide merchants with a better understanding of payment processing terminology, fees and best practices as they relate to accepting credit and debit card payments.

More information

Merchant Account Service

Merchant Account Service QuickBooks Online Edition Feature Guide Merchant Account Service C o n t e n t s Introduction............................. 2 What is a merchant account?.................. 2 What types of credit cards can

More information

Online Payment Processing What You Need to Know. PayPal Business Guide

Online Payment Processing What You Need to Know. PayPal Business Guide Online Payment Processing What You Need to Know PayPal Business Guide PayPal Business Guide Online Payment Processing 2006 PayPal, Inc. All rights reserved. PayPal, Payflow, and the PayPal logo are registered

More information

Merchant Card Processing Best Practices

Merchant Card Processing Best Practices Merchant Card Processing Best Practices Background: The major credit card companies (VISA, MasterCard, Discover, and American Express) have published a uniform set of data security standards that ALL merchants

More information

OnSite 7.0 Setting Up A Merchant Account

OnSite 7.0 Setting Up A Merchant Account OnSite 7.0 Setting Up A Merchant Account ShopWorks 1655 Palm Beach Lakes Blvd. Ste 640 West Palm Beach, FL 33401 Ph: 561-491-6000 Fx: 561-491-6001 Rev. 01 Last Updated: 3/12/09 Table of Contents Introduction...

More information

CyberSource Merchant Account Guide. March 2008

CyberSource Merchant Account Guide. March 2008 CyberSource Merchant Account Guide March 2008 CyberSource Contact Information Please visit our home page at http://www.cybersource.com. To contact CyberSource Support, call 1-866-203-0975 (Pacific Time),

More information

Payment Power for Merchants

Payment Power for Merchants Create the right customer payment solution for your business today. For more information, call 1-800-363-1163, visit any TD Canada Trust branch or visit us online at www.tdmerchantservices.com Payment

More information

Glossary ACH Acquirer Assessments: AVS Authorization Back End: Backbilling Basis Point Batch

Glossary ACH Acquirer Assessments: AVS Authorization Back End: Backbilling Basis Point Batch Glossary ACH: Automated Clearing House; an electronic payment network most commonly associated with payroll direct deposit, recurring payments, and is the network most commonly used to settle merchant

More information

Merchant Payment Solutions

Merchant Payment Solutions Merchant Payment Solutions Credit Card Processing Diagram CUSTOMER S CREDIT CARD ISSUING BANK CUSTOMER 4 5 $ MERCHANT S BUSINESS MERCHANT S BANK ACCOUNT MERCHANT S BANK 9 CREDIT CARD NETWORK 8 INTERNET

More information

Your gateway to card acceptance.

Your gateway to card acceptance. MERCHANT SERVICES Authorize.Net Solutions Your gateway to card acceptance. Processing transactions reliably and securely is essential to your business. That s why BBVA Compass and Authorize.Net, a leading

More information

Merchant Payment Solutions

Merchant Payment Solutions Merchant Payment Solutions What We Do Connecting your Web site to the payment processing networks is typically beyond the technical resources of most merchants. Instead, you can easily connect to the Authorize.Net

More information

Dental Office s Guide to Merchant Payment Processing

Dental Office s Guide to Merchant Payment Processing DJR DENTAL CONSULTING PRESENTS Dental Office s Guide to Merchant Payment Processing Office: 905-309-3910 Cell: 905-577-5252 drajczak@aol.com www.djrconsulting.ca DENTAL OFFICE S GUIDE TO MERCHANT PAYMENT

More information

First Data E-commerce Payments Gateway

First Data E-commerce Payments Gateway First Data E-commerce Payments Gateway High performance payment processing solution designed specifically to meet the requirements of global Card-Not-Present PSP When you partner with First Data for your

More information

Dear Valued Merchant,

Dear Valued Merchant, Dear Valued Merchant, Welcome to Central Payment thank you for becoming our client. We are committed to providing our merchants with outstanding customer service and superior products. It is our company

More information

Redwood Merchant Services. Merchant Processing Terminology

Redwood Merchant Services. Merchant Processing Terminology ACH - Automated Clearing House for member banks to process electronic payments or withdrawals. (Credits or debits to a bank account) through the Federal Reserve Bank. Acquiring Bank - Licensed Visa/MasterCard

More information

a CyberSource solution Merchant Payment Solutions

a CyberSource solution Merchant Payment Solutions a CyberSource solution Merchant Payment Solutions 1 Simplifying Payments Safe and reliable payment processing is essential to your business. Authorize.Net, a leading payment gateway since 1996, provides

More information

BUSINESS GUIDE. Online Payment Processing. What You Need to Know

BUSINESS GUIDE. Online Payment Processing. What You Need to Know Online Payment Processing What You Need to Know CONTENTS + Introduction 3 + Online Payment Processing Basics 4 + The Payment Processing Network 4 + How Payment Processing Works 5 + What You Should Know

More information

E-Commerce SOLUTIONS. Generate Online Revenue with E-Commerce Solutions. www.monexgroup.com

E-Commerce SOLUTIONS. Generate Online Revenue with E-Commerce Solutions. www.monexgroup.com E-Commerce SOLUTIONS In this report, MONEXgroup examines various types of online payment processing and E-Commerce Solutions. The tremendous transition towards online shopping stores in Canada has opened

More information

CREDIT CARD PROCESSING GLOSSARY OF TERMS

CREDIT CARD PROCESSING GLOSSARY OF TERMS CREDIT CARD PROCESSING GLOSSARY OF TERMS 3DES A highly secure encryption system that encrypts data 3 times, using 3 64-bit keys, for an overall encryption key length of 192 bits. Also called triple DES.

More information

Merchant Payment Solutions

Merchant Payment Solutions Merchant Payment Solutions 1 Simplifying Payments 2 Safe and reliable payment processing is essential to your business. Authorize.Net, a leading payment gateway since 1996, provides solutions you can trust.

More information

Credit Card Processing Overview

Credit Card Processing Overview Credit Card Processing Overview New Agent Development Training First Data Learning Organization Copyright 2009, First Data Corporation. All Rights Reserved. Developed by: 26 Rev: 01/23/09/1.0 Objectives

More information

American Express. Merchant Services. Grow your business With POS terminals from American Express

American Express. Merchant Services. Grow your business With POS terminals from American Express American Express Merchant Services Grow your business With POS terminals from American Express POS Terminals Electronic Devices for fast, efficient and reliable card transaction processing to suit all

More information

How Online Payments Really Work

How Online Payments Really Work Insights for Businesses How Online Payments Really Work If you re thinking about setting up an online store, you re in good company. Shoppers are increasingly turning to online options, as their access

More information

Understanding (and Optimizing) Credit Card Fees

Understanding (and Optimizing) Credit Card Fees Understanding (and Optimizing) Credit Card Fees Did you know Visa, MasterCard, and Discover have their own interchange programs and combined there are over 300 levels of interchange? While that may seem

More information

The Science of Credit Card Processing

The Science of Credit Card Processing The Science of Credit Card Processing Page 1 Credit Card Processing How does credit card processing work? You may receive credit card payments from customers from a variety of sources. You may swipe their

More information

New Customer Workbook

New Customer Workbook UTAH GOVPAY: THE OFFICIAL PAYMENT SOLUTION FOR UTAH GOVERNMENT New Customer Workbook Extend the power of your website by taking payments online OVERVIEW Start Taking Payments in Days with Utah GovPay Features

More information

Recurring Payments Best Practices Guide

Recurring Payments Best Practices Guide Recurring Payments Best Practices Guide Table of Contents DEFINITIONS... 3 RECURRING TRANSACTION... 3 INSTALLMENT TRANSACTIONS... 3 RECURRING PAYMENT INDICATOR... 4 CARDHOLDER BENEFITS & BEST PRACTICES...

More information

Online Payment Processing Definitions From Credit Research Foundation (http://www.crfonline.org/)

Online Payment Processing Definitions From Credit Research Foundation (http://www.crfonline.org/) Online Payment Processing Definitions From Credit Research Foundation (http://www.crfonline.org/) The following glossary represents definitions for commonly-used terms in online payment processing. Address

More information

Credit/Debit Card Processing Requirements and Best Practices. Adele Honeyman Oregon State Treasury Training Specialist

Credit/Debit Card Processing Requirements and Best Practices. Adele Honeyman Oregon State Treasury Training Specialist Credit/Debit Card Processing Requirements and Best Practices Adele Honeyman Oregon State Treasury Training Specialist 1 What? What do I need to know about excepting credit cards? Who s involved, how it

More information

Studio AutoPay / ACH Direct User Guide

Studio AutoPay / ACH Direct User Guide Studio AutoPay / ACH Direct User Guide Table of Contents Introduction... 3 PCI Compliance and Security... 3 ecommerce Explained... 3 How Credit Card Transactions Work... 3 How Bank Draft Transactions work...

More information

EDUCATION - TERMS 101

EDUCATION - TERMS 101 EDUCATION - TERMS 101 ACH (Automated Clearing House): A processing organization networked with others to exchange (clear and settle) electronic debit/credit transactions (no physical checks). ABA Routing

More information

Secure Credit Card Processing from EPX

Secure Credit Card Processing from EPX The EPX BuyerWall Advantage Secure Credit Card Processing from EPX Revolutionizing the Payments Industry with Secure, Cost-Effective Solutions Realizing the increased focused on PCI-compliance, EPX is

More information

UNDERSTANDING MERCHANT PRICING

UNDERSTANDING MERCHANT PRICING UNDERSTANDING MERCHANT PRICING 0 CONTENTS Definitions.. 1 Pricing Structures. 2 Tiered Pricing 3 Flat Rate Pricing 4 Cost Plus Pricing...5 Additional Resources 6 Visa Interchange Fees Table 7 MasterCard

More information

THE ABC s of Credit Card Processing

THE ABC s of Credit Card Processing THE ABC s of Credit Card Processing 1 Page Credit Card Processing As you well know, the fee s you pay to process credit card transactions represents a large portion of your monthly overhead. At AMG Payment

More information

Policies and Procedures. Merchant Card Services Office of Treasury Operations

Policies and Procedures. Merchant Card Services Office of Treasury Operations Policies and Procedures Merchant Card Services Office of Treasury Operations 1 Welcome! Table of Contents: Introduction Establishing Payment Card Services Payment Card Acceptance Procedures Payment Card

More information

Card payment processing for your business

Card payment processing for your business Card payment processing for your business Easy, reliable and secure solutions Easy We make things simple for you and your customers. Reliable We re always there for your business when you need us. Secure

More information

The University of Georgia Credit/Debit Card Processing Procedures

The University of Georgia Credit/Debit Card Processing Procedures The University of Georgia Credit/Debit Card Processing Procedures The University of Georgia currently accepts four major credit cards (MasterCard, Visa, Discover and American Express) for payment of services

More information

BPI SECURE PAY ecommerce MERCHANT AGREEMENT

BPI SECURE PAY ecommerce MERCHANT AGREEMENT BPI SECURE PAY ecommerce MERCHANT AGREEMENT KNOW ALL MEN BY THESE PRESENTS: This BPI Secure Pay ecommerce Merchant Agreement ( Agreement ) entered into by and between: BANK OF THE PHILIPPINE ISLANDS, a

More information

The Value of a Payment Gateway. White Paper

The Value of a Payment Gateway. White Paper The Value of a Payment Gateway White Paper The Ever-Evolving Payment Landscape There s no way around it. No matter what size your business is or what industry you work in, if you accept credit cards, keeping

More information

Optimizing the Payment Process in SAP

Optimizing the Payment Process in SAP Optimizing the Payment Process in SAP As a company, your goal is to serve your customers effectively, efficiently generating sales and collecting revenue. The nature of the sale and payment can take many

More information

Visa Canada Interchange Reimbursement Fees

Visa Canada Interchange Reimbursement Fees Visa Canada The following tables set forth the interchange reimbursement fees applied on Visa financial transactions completed in Canada. 1 Visa uses interchange reimbursement fees as transfer fees between

More information

a CyberSource solution Merchant Payment Solutions

a CyberSource solution Merchant Payment Solutions a CyberSource solution Merchant Payment Solutions 1 Simplifying Payments 2 Safe and reliable payment processing is essential to your business. Authorize.Net, a leading payment gateway since 1996, provides

More information

Merchant Account Glossary of Terms

Merchant Account Glossary of Terms Merchant Account Glossary of Terms From offshore merchant accounts to the truth behind free merchant accounts, get answers to some of the most common and frequently asked questions. If you cannot find

More information

Volume PLANETAUTHORIZE PAYMENT GATEWAY. vtiger CRM Payment Module. User Guide

Volume PLANETAUTHORIZE PAYMENT GATEWAY. vtiger CRM Payment Module. User Guide Volume 2 PLANETAUTHORIZE PAYMENT GATEWAY vtiger CRM Payment Module User Guide S A L E M A N A G E R M E R C H A N T S E R V I C E S User Guide and Installation Procedures Information in this document,

More information

Realex Payments Integration Guide - Ecommerce Remote Integration. Version: v1.1

Realex Payments Integration Guide - Ecommerce Remote Integration. Version: v1.1 Realex Payments Integration Guide - Ecommerce Remote Integration Version: v1.1 Document Information Document Name: Realex Payments Integration Guide Ecommerce Remote Integration Document Version: 1.1 Release

More information

Merchant Procedure Guide

Merchant Procedure Guide Merchant Procedure Guide Customer Service Phone 800-939-9942 Fax 707-578-7088 After Hours Help Desk 800-228-0210 Voice Authorization / Call Center 800-228-1122 Security/ Dispute Department Phone -- 800-385-6212

More information

GLOSSARY OF MOST COMMONLY USED TERMS IN THE MERCHANT SERVICES INDUSTRY

GLOSSARY OF MOST COMMONLY USED TERMS IN THE MERCHANT SERVICES INDUSTRY GLOSSARY OF MOST COMMONLY USED TERMS IN THE MERCHANT SERVICES INDUSTRY Acquiring Bank The bank or financial institution that accepts credit and/or debit card payments for products or services on behalf

More information

Merchant Account Reports

Merchant Account Reports Title Page Merchant Account Reports User Guide June 2014 CyberSource Corporation HQ P.O. Box 8999 San Francisco, CA 94128-8999 Phone: 800-530-9095 CyberSource Contact Information For general information

More information

Card payment processing for your business

Card payment processing for your business Card payment processing for your business Easy, reliable and secure solutions Easy We make things simple for you and your customers. Reliable We re always there for your business when you need us. Secure

More information

The following information was prepared to assist you in understanding potential Electronic Value Transfer terminology.

The following information was prepared to assist you in understanding potential Electronic Value Transfer terminology. ELECTRONIC VALUE TRANSFER CONTRACT (EVT) GLOSSARY OF TERMS The following information was prepared to assist you in understanding potential terminology. Term Description ACH Automated Clearing House is

More information

THE PAYMENT ECOSYSTEM

THE PAYMENT ECOSYSTEM AT A GLANCE: THE PAYMENT ECOSYSTEM 1 AT A GLANCE: THE PAYMENT ECOSYSTEM AT A GLANCE: THE PAYMENT ECOSYSTEM 1 Payment ecosystems is a term that typically evokes complexity and confusion among novices and

More information

Visa Debit processing. For ecommerce and telephone order merchants

Visa Debit processing. For ecommerce and telephone order merchants Visa Debit processing For ecommerce and telephone order merchants Table of contents About this guide 3 General procedures 3 Authorization best practices 3 Status check transactions 4 Authorization reversals

More information

Choosing the Right Payment Solution

Choosing the Right Payment Solution Choosing the Right Payment Solution Contact: sales@internetsecure.com 905-469-6522 x4 1-800-297-9482 x4 Contents Executive Summary... 1 Choosing the Right Payment Solution for Your Business... 1 Questions

More information

CRM4M Accounting Set Up and Miscellaneous Accounting Guide Rev. 10/17/2008 rb

CRM4M Accounting Set Up and Miscellaneous Accounting Guide Rev. 10/17/2008 rb CRM4M Accounting Set Up and Miscellaneous Accounting Guide Rev. 10/17/2008 rb Topic Page Chart of Accounts 3 Creating a Batch Manually 8 Closing a Batch Manually 11 Cancellation Fees 17 Check Refunds 19

More information

Trends in Merchant Payment Acceptance

Trends in Merchant Payment Acceptance Trends in Merchant Payment Acceptance December 6, 2007 Credit approval required. Merchant accounts are issued through BB&T Bankcard Corporation, a Georgia Corporation, Member FDIC. 2007 BB&T. All rights

More information

Product. LynxGate Harness the Power Behind Your ATMs to Increase Revenue, Reduce Costs and Strengthen Member Relationships

Product. LynxGate Harness the Power Behind Your ATMs to Increase Revenue, Reduce Costs and Strengthen Member Relationships Product LynxGate Harness the Power Behind Your ATMs to Increase Revenue, Reduce Costs and Strengthen Member Relationships Product Increase revenue. Reduce costs. Strengthen member relationships. LynxGate

More information

We believe First Data is well positioned to take advantage of all of these trends given the breadth of our solutions and our global operating

We believe First Data is well positioned to take advantage of all of these trends given the breadth of our solutions and our global operating Given recent payment data breaches, clients are increasingly demanding robust security and fraud solutions; and Financial institutions continue to outsource and leverage technology providers given their

More information

CREDIT CARD PROCESSING AND MERCHANT SERVICES

CREDIT CARD PROCESSING AND MERCHANT SERVICES CREDIT CARD PROCESSING AND MERCHANT SERVICES provides credit card processing and merchant services for a wide range of business types - including retail, e-commerce, professional services, restaurants,

More information

Order Processing Guide

Order Processing Guide Yahoo! Merchant Solutions Order Processing Guide Version 1.0 PROCESSING CREDIT CARD ORDERS 1 PROCESSING CREDIT CARD ORDERS Contents Note: If your store already has online credit card processing set up,

More information

Failure to follow the following procedures may subject the state to significant losses, including:

Failure to follow the following procedures may subject the state to significant losses, including: SUBJECT: Policy and Procedures PAGE: 1 of 5 INTRODUCTION During fiscal year 2014, State of Wisconsin agencies accepted approximately 6 million credit/debit card payments through the following payment channels:

More information

The Comprehensive, Yet Concise Guide to Credit Card Processing

The Comprehensive, Yet Concise Guide to Credit Card Processing The Comprehensive, Yet Concise Guide to Credit Card Processing Written by David Rodwell CreditCardProcessing.net Terms of Use This ebook was created to provide educational information regarding payment

More information

Agencies should be familiar with the Credit Card Settlement Guidelines prior to proceeding with these Reconciliation Guidelines.

Agencies should be familiar with the Credit Card Settlement Guidelines prior to proceeding with these Reconciliation Guidelines. ELECTRONIC VALUE TRANSFER CONTRACT (EVT) CREDIT CARD RECONCILIATIONS The reconciliation function is an authorized users integral back-office activity to verify that funds for all authorized Visa, MasterCard,

More information

Visa Debit ecommerce merchant acceptance. Frequently asked questions and flowchart

Visa Debit ecommerce merchant acceptance. Frequently asked questions and flowchart Visa Debit ecommerce merchant acceptance Frequently asked questions and flowchart Table Of Contents Visa Debit. The convenience of debit. The security of Visa. 3 The value of Visa Debit for ecommerce:

More information

PayLeap Guide. One Stop

PayLeap Guide. One Stop PayLeap Guide One Stop PayLeap does it all. Take payments in person? Check. Payments over the phone or by mail? Check. Payments from mobile devices? Of course. Online payments? No problem. In addition

More information

Accepting Credit Cards 101

Accepting Credit Cards 101 1 Accepting Credit Cards 101 Payment Cards: A Brief History and the Invention of. The Key Players: The Associations, Member Banks, Processors, Service Providers, Agents, Cardholders, and Merchants : Card

More information

Grow with our omni-channel payment processing technologies and merchant services.

Grow with our omni-channel payment processing technologies and merchant services. Grow with our omni-channel payment processing technologies and merchant services. Get ready for growth Payment processing solutions ecommerce mcommerce In-app payments Virtual terminal Card present EMV

More information

RBC Merchant Services. Affordable, simple and secure

RBC Merchant Services. Affordable, simple and secure RBC Merchant Services Affordable, simple and secure Contents Reasons to accept credit and debit cards 1 What does RBC Merchant Services offer? 2 Benefits 2 Solutions 3 The machine/hardware 4 Software functionality

More information

www.butterfieldgroup.com

www.butterfieldgroup.com Merchant Services Butterfield Merchant Services. If you are a retail or service business owner, it is vital to offer your customers the opportunity to pay by credit or debit card. Butterfield can help

More information

INTEGRATED POINT OF SALE PAYMENTS

INTEGRATED POINT OF SALE PAYMENTS INTEGRATED POINT OF SALE PAYMENTS A COMPREHENSIVE MANAGED POINT OF SALE PAYMENT SERVICE AN INTEGRATED SOLUTION FOR Bankcards Gift Cards Money Transfers Bill Payments Pre-paid Cash Management Enterprise

More information

How to Choose a Payment Gateway

How to Choose a Payment Gateway This white paper is one of many articles prepared by Skipjack to help merchants and developers get the most out of payment processing. To view others, please visit www.skipjack.com. How to Choose a Payment

More information

Accepting Credit Card Payments

Accepting Credit Card Payments Accepting Credit Card Payments An Introduction Objectives Understand the Credit Card Acceptance Process What Type of Merchant are You How to Choose An Acquirer How to Get It All Going for Non Cash Payment

More information

ACCEPTING PAYMENT CARDS FOR CONDUCTING UNIVERSITY BUSINESS:

ACCEPTING PAYMENT CARDS FOR CONDUCTING UNIVERSITY BUSINESS: Boston College Policy ACCEPTING PAYMENT CARDS FOR CONDUCTING UNIVERSITY BUSINESS: PURPOSE OF POLICY: The purpose of this policy is to establish procedures for accepting payment cards at Boston College

More information

WASHINGTON STATE UNIVERSITY MERCHANT ACCOUNT AGREEMENT FOR UNIVERSITY DEPARTMENTS

WASHINGTON STATE UNIVERSITY MERCHANT ACCOUNT AGREEMENT FOR UNIVERSITY DEPARTMENTS WASHINGTON STATE UNIVERSITY MERCHANT ACCOUNT AGREEMENT FOR UNIVERSITY DEPARTMENTS I. Introduction, Background and Purpose This Merchant Account Agreement (the Merchant Agreement or Agreement ) is entered

More information

a CyberSource solution Merchant Payment Solutions

a CyberSource solution Merchant Payment Solutions a CyberSource solution Merchant Payment Solutions 1 Simplifying Payments Safe and reliable payment processing is essential to your business. Authorize.Net, a leading payment gateway since 1996, provides

More information

Earn more, pay less the way it is

Earn more, pay less the way it is Earn more, pay less the way it is 2012,2013 SecuTrans Inc. is a trustworthy name. About Us SecuTrans Inc. is a leading and registered Credit/Debit Merchant Service Provider in Canada. We are one of the

More information

Review of Method of Payment Fees in Taxicabs

Review of Method of Payment Fees in Taxicabs STAFF REPORT ACTION REQUIRED Review of Method of Payment Fees in Taxicabs Date: June 14, 2011 To: From: Wards: Reference Number: Licensing and Standards Committee Jim Hart, Executive Director, Municipal

More information

WISCONSIN ACCOUNTING MANUAL Department of Administration State Controller s Office

WISCONSIN ACCOUNTING MANUAL Department of Administration State Controller s Office BACKGROUND State of Wisconsin agencies accepted more than 6 million credit/debit card payments annually through the following payment channels: Point of Sale (State agency location) Point of Sale (Retail-agent

More information

Clark Brands Payment Methods Manual. First Data Locations

Clark Brands Payment Methods Manual. First Data Locations Clark Brands Payment Methods Manual First Data Locations Table of Contents Introduction... 3 Valid Card Types... 3 Authorization Numbers, Merchant ID Numbers and Request for Copy Fax Numbers... 4 Other

More information

Ball State University Credit/Debit Card Handling Policy and Procedures

Ball State University Credit/Debit Card Handling Policy and Procedures Ball State University Credit/Debit Card Handling Policy and Procedures I. Background Ball State University accepts payments in various forms including cash, checks and electronic fund transfers. University

More information

Unified Payment Platform Payment Pos Server Fraud Detection Server Reconciliation Server Autobill Server e-point Server Mobile Payment Server

Unified Payment Platform Payment Pos Server Fraud Detection Server Reconciliation Server Autobill Server e-point Server Mobile Payment Server Unified Payment Platform Payment Pos Server Detection Server Reconciliation Server Autobill Server e-point Server Mobile Payment Server Securing Payment & Beyond Infinitium E-Payment is a Unified Payment

More information

Insurance-Specific Payment Services Requires Insurance Industry Knowledge

Insurance-Specific Payment Services Requires Insurance Industry Knowledge Insurance-Specific Payment Services Requires Insurance Industry Knowledge by Primoris Services Overview Every business has to accept payments in order to collect funds and operate. There are multiple ways

More information

An introduction to CashFlows and the provision of on-line card acceptance services we provide to Young Enterprise companies

An introduction to CashFlows and the provision of on-line card acceptance services we provide to Young Enterprise companies An introduction to CashFlows and the provision of on-line card acceptance services we provide to Young Enterprise companies Q. What is CashFlows? A. CashFlows is a Financial Services company that provides

More information

Spotlight on Product & Service: Worldpay - End-to-End Payments Secure Platform at Most Cost-Effective Rates. Accept payments. Anywhere. Anytime.

Spotlight on Product & Service: Worldpay - End-to-End Payments Secure Platform at Most Cost-Effective Rates. Accept payments. Anywhere. Anytime. Newsletter Vol. 87 - Introduction Softengine News is dedicated to keeping you up to date with the latest information regarding SAP Business One systems, Softengine solutions and Best Business Practices.

More information

Payment Card Acceptance Administrative Policy

Payment Card Acceptance Administrative Policy Administrative Procedure Approved By: Brandon Gilliland, Associate Vice President for Finance & Controller Effective Date: October 1, 2014 History: Approval Date: September 25, 2014 Revisions: Type: Administrative

More information

Presented by: Sam Campisi, Business Relationship Manager, OECM Bruce Averill, Account Executive Sales, Chase Paymentech Kevin Brock, National Sales

Presented by: Sam Campisi, Business Relationship Manager, OECM Bruce Averill, Account Executive Sales, Chase Paymentech Kevin Brock, National Sales Presented by: Sam Campisi, Business Relationship Manager, OECM Bruce Averill, Account Executive Sales, Chase Paymentech Kevin Brock, National Sales Director Sales, Chase Paymentech Today you will learn

More information

International Payment Services. Credit & Debit Card Processing

International Payment Services. Credit & Debit Card Processing International Payment Services Credit & Debit Card Processing Merchant Processing Overview Visa, MasterCard, American Express, Discover, Diners, JCB, Debit, EBT, Fleet Card (Wright Express and Voyager),

More information

Acceptance to Minimize Fraud

Acceptance to Minimize Fraud Best Practices for Credit Card Acceptance to Minimize Fraud By implementing best practices in credit card processing, you decrease the likelihood of fraudulent transactions and chargebacks. In general,

More information

Merchant Integration Guide

Merchant Integration Guide Merchant Integration Guide Card Not Present Transactions Authorize.Net Customer Support support@authorize.net Authorize.Net LLC 071708 Authorize.Net LLC ( Authorize.Net ) has made efforts to ensure the

More information

EMV FAQs. Contact us at: CS@VancoPayments.com. Visit us online: VancoPayments.com

EMV FAQs. Contact us at: CS@VancoPayments.com. Visit us online: VancoPayments.com EMV FAQs Contact us at: CS@VancoPayments.com Visit us online: VancoPayments.com What are the benefits of EMV cards to merchants and consumers? What is EMV? The acronym EMV stands for an organization formed

More information

Table of Contents The Market for Merchant Services... 1 The Basics of Payment Processing... 2 Authorization Settlement Funding... 2 Authorization...

Table of Contents The Market for Merchant Services... 1 The Basics of Payment Processing... 2 Authorization Settlement Funding... 2 Authorization... Table of Contents The Market for Merchant Services... 1 The Basics of Payment Processing... 2 Authorization Settlement Funding... 2 Authorization... 2 Settlement... 2 Funding... 2 Credit Card Processing

More information

How Do I Understand Credit Card Processing Fees?

How Do I Understand Credit Card Processing Fees? How Do I Understand Credit Card Processing Fees? Credit card processing rates and fees are often misunderstood and confusing, so we are committed to helping you understand the various costs associated

More information

Yahoo! Merchant Solutions. Order Processing Guide

Yahoo! Merchant Solutions. Order Processing Guide Yahoo! Merchant Solutions Order Processing Guide Credit Card Processing How It Works The following charts provide an overview of how online credit card processing works. Credit Card processing for Yahoo!

More information

Global Payment Solutions. Reseller and Partner Program Overview

Global Payment Solutions. Reseller and Partner Program Overview Global Payment Solutions Reseller and Partner Program Overview About Aramor Payments Based in Toronto, Canada, Aramor Payments is an innovator in e-commerce solutions 8 years experience in the payments

More information

Frequently Asked Questions

Frequently Asked Questions Frequently Asked Questions INTRODUCING MASTERPASS WHAT IS MASTERPASS? WHAT ARE THE BENEFITS OF MASTERPASS? WHAT IS THE CUSTOMER EXPERIENCE WHEN MY CONSUMER CLICKS ON BUY WITH MASTERPASS? CAN MY CUSTOMERS

More information

MERCHANT STATEMENT. We know that if a statement is difficult to read, it s difficult to use. A GUIDE TO READING YOUR

MERCHANT STATEMENT. We know that if a statement is difficult to read, it s difficult to use. A GUIDE TO READING YOUR A GUIDE TO READING YOUR MERCHANT STATEMENT We know that if a statement is difficult to read, it s difficult to use. You told us you wanted more information about how to read your statement; this guide

More information

Your Gateway to Online Success

Your Gateway to Online Success The NETBANX gateway is a leading, proprietary online payment processing platform operating on a world class technology infrastructure. Trusted by global brands and companies around the world, the NETBANX

More information

Who Are The Parties Involved In Credit Card Processing?

Who Are The Parties Involved In Credit Card Processing? Who Are The Parties Involved In Credit Card Processing? Often one of the hardest and most frustrating things that a business owner must encounter when starting and running a business is choosing the right

More information

The Canadian Migration to EMV. Prepared By:

The Canadian Migration to EMV. Prepared By: The Canadian Migration to EMV Prepared By: December 1993 Everyone But The USA Is Migrating The international schemes decided Smart Cards are the way forward Europay, MasterCard & Visa International Produced

More information

c. the incidents and costs of NSF cheques are significantly reduced; and d. the amount of actual cash being handled is reduced.

c. the incidents and costs of NSF cheques are significantly reduced; and d. the amount of actual cash being handled is reduced. General 1. Debit/Credit card processing solutions within the CFPFSS organization are authorized through the Finance division. The debit/credit card processing solution is an electronic system used to process

More information