SPEED. A Competitive Advantage In Restaurant Services What it means and how technology provides it. Presented by
|
|
- Regina Oliver
- 8 years ago
- Views:
Transcription
1 SPEED A Competitive Advantage In Restaurant Services What it means and how technology provides it Presented by NOTE: GO software is now Verifone, Inc.
2 Speed rules! There are 277,208 fast-food outlets from coast to coast -- one for every 1,000 people in the country. Technomic Inc., a food-consulting firm To stay competitive in their industry, many conventional fast-food chains are finding it necessary to squeeze more sales from existing locations. Fine dining restaurants are also looking to eek out more transactions or turn tables faster without rushing their customers dining experience. Attaining true customer satisfaction is the number one driving factor in maintaining competitive advantage and that advantage can be delivered through speed. This white paper explores three technology driven trends and processes that restaurateurs should integrate into their operations to improve their point of sale interaction time with customers. Cashless transactions IP-based processing technology Adoption of Internet usage When implemented together, these functions will provide the restaurateur with increased revenue, and improved customer satisfaction. As consumers continue to embrace the use of loyalty cards, gift cards and stored value cards, restaurateurs must re-evaluate their current point-of-sale processing capabilities and make business decisions on enhancing their current procedures. By jumping on this tech bandwagon, restaurateurs can recognize significant and quantifiable ROI. Enhancing speed and improving efficiency is best delivered through viable technology, not faster employees. Technology can be a known and stable factor (unlike employees) that provides a number of ways to improve customer service most significantly through speed and security in payment transactions. Cashless Transactions Debit, ATM and even gift cards are becoming more and more popular with consumers as an alternative to carrying and paying with cash or being limited to the cash they may have (or not have) on hand. As these cards popularity with consumer continues to grow, so does the consumer s expectation of having this payment option being widely available from the restaurants they visit. 2
3 Studies show that on average QSR customers who use cashless payment methods spend more money than customers who pay with cash. This is especially important at the drive-thru, which accounts for approximately 60% of all QSR sales. A recent Visa study of 100,000 QSR transactions showed that customers using payment cards spent an average of 20 30% more than those who paid with cash. In the past, payment processors would allow QSRs to process payments without a signature, only up to a fixed amount, without actually checking the customer s account to verify the amount to be processed. These transactions represented increased risk for the processors and as such, resulted in higher transactions fees. Improved technology (discussed below) now allows for real-time transaction processing and consequently payment processors are relaxing their policies. Payment processors now permit merchants, like QSRs, with relatively small average transaction size, to accept plastic without requiring customers to sign a receipt or enter a personal identification number, or PIN. These transactions are now immediately verified against the cardholder s account. This real-time verification allows QSRs to qualify for significant reductions in the fees associated with processing transactions - in many instances up to 50 basis points or more. The QSR can now operate like any other retail business without sacrificing customers experience at the point of sale all thanks to new technologies. While the old QSR process may be more vulnerable to fraud and can result in a higher processing fee, now real-time processing can capture the benefits of higher ticket prices without paying more processing fees. IP Based Processing Technology 1988 marked the first time payment processing broke its manual processing cumbrance and entered the electronic processing age. Existing telephone lines provided an established network infrastructure across which data could be transmitted. Transactions were now being authorized and processed within seconds over telephone lines connecting through modems directly to payment processors; light years faster than compiling and mailing them as they had been. A separate, dedicated phone line was typically required for processing use and represented an additional expense. 3
4 In the United States, a 2001 National Restaurant Association survey revealed that more than half of all restaurant operators now access the Internet for business-related purposes. Easier Internet Access Businesses found that accessing the Internet was becoming more important as a way to communicate such as through , and a way to transact business such as through e-commerce. Until recently, most small businesses connected to the Internet using telephone dial-up, maybe even on the same phone line used for payment processing. Unless there was yet another dedicated line for Internet access, the company could not easily complete or receive phone calls, much less process credit cards. File sizes for payment transactions transmitted back and forth between the merchant and the payment processor are very small in size, often not larger than 256 characters. Even with the slow, by today s standards, connection speed provided by dial-up modem connections, the actual time transmission time between parties is only a matter of seconds. But it wasn t the transmission that took up valuable time; it was establishing the connection or making the communication handshake that took up valuable time. Businesses began to flock to the Internet to leverage its network structure. Internet Protocol provided a reliable and secure application for communication processes. IP technology provides speed and flexibility; works well with a distribute enterprise; and leverages existing infrastructure and business methods. This solution is relevant to restaurant businesses of every size, from single-unit operations to multinational corporations. But it wasn t until 1998 that the first payment processor adopted TCP/IP processing options for their merchants. This was an important development because merchants now had a more efficient option in which to process their transactions. Always On, Always Available Today s growing acceptance and availability of newer broadband connections, such as digital subscriber (DSL) and cable, finally offer businesses a cost effective alternative to multiple phone lines or more costly 4
5 T1 options. But more importantly, it provides them with the capabilities of having always on, always available Internet access. Quick-service restaurants represented $190 billion in sales in 2001, with payment cards accepted at approximately onethird of them, according to MasterCard International. Always-on Internet access eliminates the time it takes to make a connection, or establish handshake that happens with every traditional telephone connection. With dial-up, waking up the modem, dialing the processor, and then waking up the processor s modem and acknowledging the connection can take 20 to 30 seconds. With Internet processing, the transaction can be complete within 2 to 3 seconds. Speed Yields Quantifiable ROI By providing their customers cashless payment options, restaurateurs will benefit from faster transactions, shorter lines and faster service. These enhancements will reduce potential customer walkouts or drive-aways should there be long lines at the counter or drive-thru. Furthermore, improved services elicit customer loyalty and increased repeat business. Faster transactions allow for increased volume, and thus more transactions per day. And, as research shows, the use of payment cards increases average ticket size by 20% or more. So, with additional daily transactions, higher average ticket sale and more repeat customers, restaurateurs will see improved revenue, to say nothing of their rapid ROI on any investment in IP payment processing technology Bringing It All Together Payment Processing Software Solutions Today, payment processing is much more complex than connecting with the processor, getting authorization and making deposits into the merchant s bank. And as alternative, cashless payment options continue to flourish, there is increased complexity in the authorization and settlement for multiple card types (debit, credit, gift, VISA, MC, Amex, Loyalty cards). To add to the complexities, there are often varying operating systems and databases within the same organization that makes accessing information very difficult. Typical full-service restaurant transactions have additional intricacies that need to be provided for in processing software, such as pre-authorization, post-authorization and actual gratuity. Because of the many communications 5
6 back and forth between the restaurant and their processor for any given, single transaction, the value of always-on connection continues to appreciate. Additionally, end of the day reconciliation procedures, including tip and split tenders capabilities are important features for restaurant software and also increase speed and efficiencies. Payment processing software is the catalyst that executes and unites frontend transactions with back-end communications with payment processors. Conclusion Often the only element of business that management can truly control is its technology. And as technology continues to change and improve, it is paramount for executives to stay abreast of and embrace the current trends that have proven ROI and provide operational efficiency. Technology solutions must enhance customer service not replace face-toface interaction. In the restaurant industry, the convergence of cashless transactions, Internet-based processing technology and improved Internet access through broadband connections have yielded strong returns for those who have implemented them. But amazingly, in spite of this convergence and heightened consumer demand, today as few as 25% of QSRs have implemented cashless point of sale capabilities. Competitive advantage and increased revenue will reward those restaurants that do embrace speed. About GO Software GO Software, a subsidiary of Return On Investment Corporation (OTCBB: ROIE), is a leading provider of POS (point-of-sale) payment processing software. More than 100,000 businesses use GO Software's solutions to process payments at high speed, expand their tender types and lower their credit card costs. GO Software provides payment processing solutions to meet the needs of any merchant, regardless of transaction volume, platform or sales environment. 6
7 GO Software Restaurant Solutions GO Software has been offering secure, high-speed, direct payment processing using IP technology since GO has been successfully integrated into all types of restaurants, from individual fine-dining establishments, to local, regional and even international large chain QSRs. Our restaurant processing software is adaptable to legacy systems and easily integrates into existing infrastructure. It supports drive-thru POS as well as multiple registers and can be used in centralized or distributed environment. We offer a large number of restaurant certifications. Technology is also expected to contribute to greater effectiveness in generating revenues, whether achieving same location revenue growth, increasing guest counts as well as increasing size of average check. Technology also is expected to play a significant role in differentiating the service offering, whether by building a more powerful brand and expanding/adding new locations. Thus, the majority of respondents expect technology to play a pivotal role in generating value for their organizations. Hospitality Technology s Third Annual Restaurant Industry Study All rights reserved 2003 GO Software, Inc. All trademarks and trade names referenced in this document are the property of their respective owners 7
Travel Card. Cardholder Frequently Asked Questions. June 2014 T.FQ.S.20141.E
Travel Card Cardholder Frequently Asked Questions Travel Card (1) Where can I use my card? Your card may be used anywhere debit cards are accepted. The brand marks on your card indicate where the card
More informationGlossary 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 informationPCCharge can connect to LYNK via a dial-up modem connection, an ISDN connection, or a TCP/IP (Internet) connection.
RBS Lynk Systems, Inc. (LYNK) LYNK Notes LYNK accounts are terminal based. LYNK will provide you with a 12-digit Merchant Number. Use this as your Credit Card Company Number when setting up your account
More informationPayment 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 informationEMV and Restaurants: What you need to know. Mike English. October 2014. Executive Director, Product Development Heartland Payment Systems
October 2014 EMV and Restaurants: What you need to know Mike English Executive Director, Product Development Heartland Payment Systems 2014 Heartland Payment Systems, Inc. All trademarks, service marks
More informationCreating Lasting Value With A Point-of-Sale Cash Program
Creating Lasting Value With A Point-of-Sale Cash Program Key insights of Discover Network Cash Over usage to build merchant loyalty and create differentiation A Discover Network White Paper for Merchants
More informationCREDIT 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 informationCard 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 informationHow To Choose Moneris
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 informationTrends 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 informationDatawire Secure Transport Value Proposition
Transport Value Proposition Contents: What is Transport? Transport is a patented connectivity service Datawire Defined that transports financial transactions securely and reliably over Datawire Value Proposition
More informationCredit vs. Debit: The Network Perspective
July 25, 2010 Credit vs. Debit: The Network Perspective Richard Santoro, Vice President, Government Affairs MasterCard Worldwide 1 Overview Origins of Payment Cards Four-Party Payment System Model Anatomy
More informationEMV in Hotels Observations and Considerations
EMV in Hotels Observations and Considerations Just in: EMV in the Mail Customer Education: Credit Card companies have already started customer training for the new smart cards. 1 Questions to be Answered
More informationQ: What is PCI? Q: To whom does PCI apply? Q: Where can I find the PCI Data Security Standards (PCI DSS)? Q: What are the PCI compliance deadlines?
Q: What is PCI? A: The Payment Card Industry Data Security Standard (PCI DSS) is a set of requirements designed to ensure that ALL companies that process, store or transmit credit card information maintain
More informationAre you ready to grow revenues and curb fraud by deploying a contactless payment solution?
Are you ready to grow revenues and curb fraud by deploying a contactless payment solution? Benefits of a Customer-Facing Swipe or Tap Payment Solution An NCR White Paper 2009 Experience a new world of
More informationRBC 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 informationThe 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 informationA Brand New Checkout Experience
A Brand New Checkout Experience EMV Transformation EMV technology is transforming the U.S. payment industry, bringing a whole new experience to the checkout counter. Introduction What is EMV? It s 3 small
More informationA Brand New Checkout Experience
A Brand New Checkout Experience EMV Transformation EMV technology is transforming the U.S. payment industry, bringing a whole new experience to the checkout counter. Introduction What is EMV? It s 3 small
More informationRedwood 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 informationElectronic Transaction Market Industry Whitepaper. Systech Corporation Internet Payment Gateways
Electronic Transaction Market Industry Whitepaper Systech Corporation Internet Payment Gateways John Stafford Director, Payment Systems johns@systech.com 800-800-8970 x483 Systech IPG/7000 Series Internet
More informationInside the Mobile Wallet: What It Means for Merchants and Card Issuers
Inside the Mobile Wallet: What It Means for Merchants and Card Issuers Welcome to the age of Universal Commerce commerce that is integrated, personalized, secure, open, and smart. The lines between in-store
More informationBEST-IN-CLASS MERCHANT SERVICES
BEST-IN-CLASS MERCHANT SERVICES First Data takes you beyond with merchant processing solutions that grow revenue and strengthen your customer relationships. HOW WILL YOU GO BEYOND? In an era when the banking
More informationPRODUCTS & SERVICES FOR BANKS
PRODUCTS & SERVICES FOR BANKS Best-in-Class SOLUTIONS for Your Commercial Customers Priority Payment Systems has assembled a comprehensive suite of best-in-class payment processing products designed to
More informationPROTECTION OF OUR MERCHANTS AND REFERRAL PARTNERS IS OUR FIRST CONCERN
PCI Q: What is PCI? A: The Payment Card Industry Data Security Standard (PCI DSS) is a set of requirements designed to ensure that ALL companies that process, store or transmit credit card information
More informationElectronic Payment Processing Solutions
Customized Efficient Profitable Electronic Payment Processing Solutions Your Challenges. Our Solutions. Your Success. Your business is unique and so are its challenges. Do you need fast, safe transactions?
More informationDCCCD BUSINESS PROCEDURES MANUAL. Revision Log
P a g e 9 Revision Log Sub-Section Revision Start Revision End Date Posted Summary of Changes 1.3.1 01/10/06 01/30/06 02/14/06 Added guideline that no credit card account numbers should be solicited or
More informationGuidelines for Accepting Credit Cards as a Form of Payment for Education, Registration and Other Fees
Guidelines for Accepting Credit Cards as a Form of Payment for Education, Registration and Other Fees Background Over the past few years, the use of credit cards as a payment option for purchasing goods
More informationSolutions Payments Network
Solutions Payments Network Improve Your Bottom Line and Enhance the Consumer Experience with Accelerated Real-Time Payments and Funds Access Solutions Solutions In this always-on digital world, consumers
More informationHow To Use X Charge.Com To Get A Credit Card For Free
Thank you for your interest in X Charge. The REAL benefit of the X-Charge Software is the integration of the X-Charge product with the Club Sentry Software. Enclosed with this is a short list of Benefits
More informationIntegrated Payment Solutions
Payment Services Integrated Payment Solutions for hospitality, parking and web Tailor-made payment solutions for your business. 2 SIX Payment Services The right choice SIX Payment Services provides financial
More informationAmerican Express and Discover are proprietary entities performing the functions of both a card association and an issuing bank.
ELECTRONIC VALUE TRANSFER CONTRACT (EVT) CREDIT CARD BACKGROUND INFORMATION What is a Credit Card? A credit card is a plastic card issued to an individual or business which is accepted by participating
More informationBenefits of Frontline Processing
CONVENIENCE FEE PROGRAM FRONTLINE PROCESSING ELECTRONIC PAYMENT PROGRAM LOOKING TO SPEED UP YOUR RENTAL PAYMENTS? Frontline s new Convenience Fee Electronic Payment Program allows you to receive payments
More informationMerchant Options for Lowering Payment Costs
Merchant Options for Lowering Payment Costs 2012 First Data Corporation. All trademarks, service marks and trade names referenced in this material are the property of their respective owners. Introduction
More informationWe 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 informationVisa Tips for Restaurant Staff
Visa Tips for Restaurant Staff Helpful Information and Best Practices for Handling Visa Transactions For U.S. Only When it comes to restaurants, most customers are looking for the same basic things...
More informationFrequently Asked Questions
Contents CISP Program Overview... 2 1. To whom does CISP apply?...2 2. What does VISA define as "cardholder data"?...2 3. What if a merchant or service provider does not store Visa cardholder data?...2
More informationVisa 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* Any merchant that has suffered a hack that resulted in an account data compromise may be escalated to a higher validation level.
Q: What is PCI? A: The Payment Card Industry Data Security Standard (PCI DSS) is a set of requirements designed to ensure that ALL companies that process, store or transmit credit card information maintain
More informationGLOSSARY 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 informationTotal Merchant Services (TMS) is a Member Service Provider for HSBC Bank USA
Total Merchant Services (TMS) is a Member Service Provider for HSBC Bank USA Doing What s Best For Your Business It s easy to establish a merchant account with Total Merchant Services. If you meet our
More informationIncrease revenue. Reduce operating costs. Improve efficiencies. Accomplish all this and more with eselectplus.
Increase revenue. Reduce operating costs. Improve efficiencies. Accomplish all this and more with eselectplus. eselectplus makes payment simple for you, and for your customers. eselectplus is an easy-to-use,
More informationProcessing IP-Based, Electronic Payment Card Transactions
Processing IP-Based, Electronic Payment Card Transactions Processing IP-Based, Electronic Payment Card Transactions Overview Early electronic payment card (EPC) transaction networks required a merchant
More informationProcessing IP-Based, Electronic, Payment Card Transactions
Processing IP-Based, Electronic, Payment Card Transactions A report from NewNet Communication Technologies, LLC Copyright 2014 NewNet Communication Technologies. All rights reserved. Processing IP-Based,
More informationPolicies 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 informationHow 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 informationreseller program 800.POS.9585 www.possiblepos.com sales@possiblepos.com
reseller program www.possiblepos.com 800.POS.9585 sales@possiblepos.com POSsible specializes in complete POS Systems and Software to meet the needs of your restaurant, grocery, salon, retail store or business.
More informationProcessing Solutions. One Source for All Your Processing Needs! www.mfsps.com
Processing Solutions One Source for All Your Processing Needs! Thank you for the opportunity to earn your Credit Card processing business. Our merchants expect and receive excellent service and the most
More informationOnline 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 informationElectronic Payment Processing
Five Star Service Guaranteed The most reliable payment processing network in the industry Electronic Payment Processing Your challenges. Our solutions. Your success. One key strategy to your success is
More informationThe 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 informationICICI BANK PLATINUM CHIP CREDIT CARD
ICICI BANK PLATINUM CHIP CREDIT CARD MEMBERSHIP GUID GUIDE INDEX Please click on a section title to go to the respective page WELCOME ON BOARD...02 ENJOY A WORLD OF BENEFITS... 03» EARN REWARDS EVERYTIME
More informationAcceptance 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 informationThe Future is Contactless
Contactless Implementation and Benefits The Future is Contactless One of the most exciting new applications to be launched in the payment world is contactless payment. The technology is already available
More informationThe 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 informationAn access number, dialed by a modem, that lets a computer communicate with an Internet Service Provider (ISP) or some other service provider.
TERM DEFINITION Access Number Account Number Acquirer Acquiring Bank Acquiring Processor Address Verification Service (AVS) Association Authorization Authorization Center Authorization Fee Automated Clearing
More informationProtecting Cardholder Data Throughout Your Enterprise While Reducing the Costs of PCI Compliance
Payment Security White Paper Protecting Cardholder Data Throughout Your Enterprise While Reducing the Costs of PCI Compliance Breaches happen across all industries as thieves look for vulnerabilities.
More informationPayments Industry Glossary
Payments Industry Glossary 2012 First Data Corporation. All trademarks, service marks and trade names referenced in this material are the property of their respective owners. A ACH: Automated Clearing
More information(dollar amount beyond which authorization is mandatory) may be included in the batch.
credit card fees by Michael L. Kasavana, Ph.D., NCE, CHTP 2009 Hospitality Upgrade No NAMA reproduction Professor in or Hospitality distribution Business without permission. The School of Hospitality Business
More informationFirst Data takes you beyond with Terminals and Point-of-Sale (POS) solutions designed to support evolving customer payment preferences.
Payment Acceptance Prepaid Information & Analytics Advanced Solutions & Innovation Network Solutions Issuing & Access Solutions Terminals & POS Solutions First Data takes you beyond with Terminals and
More informationWho 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 informationEuronet s Contactless Solution
Serving millions of people worldwide with electronic payment convenience. Euronet s Contactless Solution Fast, Secure and Convenient Transactions with No Swiping, PIN or Signature Copyright 2011 Euronet
More informationCREDIT CARD MERCHANT PROCEDURES. Revised 01/21/2014 Prepared by: NIU Merchant Services
CREDIT CARD MERCHANT PROCEDURES Revised 01/21/2014 Prepared by: NIU Merchant Services CREDIT CARD MERCHANT PROCEDURES Contents Role of NIU Merchant Services 2 Security. 3 Method of Payment 3 Departmental
More informationGetting Started. Quick Reference Guide for Payment Processing
Getting Started Quick Reference Guide for Payment Processing In today s competitive landscape, you have many choices when it comes to selecting your payments provider, and we appreciate your business.
More informationCost-management strategies. Your guide to accepting card payments cost-effectively
Cost-management strategies Your guide to accepting card payments cost-effectively Table of Contents Guidance from Wells Fargo Merchant Services...3 The secret to better interchange rates...4 Why interchange
More informationprepaid Prepaid Launch the ideal prepaid card scheme for your business quickly and efficiently
prepaid Launch the ideal prepaid card scheme for your business quickly and efficiently services can help you manage everything from gift vouchers and social welfare benefits, to meal cards, corporate rewards,
More informationWhat is Interchange. How Complex is Interchange?
What is Interchange The foundation of the entire Bankcard Processing industry s cost structure. Interchange is the wholesale price, charged by Card Issuing Bank, for Authorization and Settlement of a credit
More informationSolutions. Payments Network Enhance Consumer Loyalty, Increase Revenue and Improve Your Competitive Edge With Real-Time Payments Solutions
Solutions Payments Network Enhance Consumer Loyalty, Increase Revenue and Improve Your Competitive Edge With Real-Time Payments Solutions Solutions Meet the demands of consumers who expect to make payments
More informationComprehensive Payment Card Solutions
Comprehensive Payment Card Solutions Services provided by The Power of Partnership Maximize Performance by Joining Two Industry-Leading Cooperatives As financial cooperatives, Corporate One Federal Credit
More informationPayment Card Industry (PCI) Data Security Standard Self-Assessment Questionnaire
Payment Card Industry (PCI) Data Security Standard Self-Assessment Questionnaire Instructions and Guidelines Version 1.1 February 2008 Table of Contents About this Document... 1 PCI Data Security Standard
More informationPoint-of-Sale Materials Catalog. United States Edition
Point-of-Sale Materials Catalog United States Edition Welcome to Planet Payment s Point-of-Sale Materials catalog. At Planet Payment we have invested a lot in building our brand for we see it as an essential
More informationCredit Card Processing Glossary
Address Verification: A service provided through which the merchant verifies the Cardholder s address. Primarily used by Mail/Telephone order merchants. Not a guarantee that a transaction is valid. Agreement:
More informationand Franchise Packet Payment Processing Overview
and Franchise Packet Payment Processing Overview Welcome Dear Marco s Pizza Franchisee, You have many choices of payment processing service providers. How do you choose the one you can trust with such
More informationAdjustment A debit or credit to a cardholder or merchant account to correct a transaction error
Glossary of Terms A ABA Routing Number This 9-digit number is assigned by the American Banker s Association and is used to identify individual banks. When performing an ACH transfer from one bank account
More informationClark 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 informationGeneral Industry terms
General Industry terms Address Verification: A service provided through which the merchant verifies the Cardholder s address. Primarily used by Mail/Telephone order merchants. Not a guarantee that a transaction
More informationNeos. Merchant Solutions. A Gift and Loyalty Card Company. Retail Solutions with the Customer in Mind
Neos A Gift and Loyalty Card Company Retail Solutions with the Customer in Mind Corporate Overview NEOS MERCHANT SOLUTIONS, INC. Neos NEOS MERCHANT SOLUTIONS, INC., based in Irvine, CA, is a national provider
More informationAnnual Analysis Card Payments
Annual Analysis Card Payments Cards and Transactions February 2014 With an expected GDP growth of 0.5% and an almost 1% decline in consumption, analysts define 2013 as a year of feeble economic recovery
More informationPayment Card Industry Data Security Standard (PCI DSS)
Payment Card Industry Data Security Standard (PCI DSS) What is PCI SSC? A 12 year old independent industry standards body providing oversight of the development and management of Payment Card Industry
More informationADDENDUM #2. Please note the following specification changes/additions/clarifications relative to the above Request for Bid.
ADDENDUM #2 To: All Companies Interested in Submitting a Bid From: Diane Rodenkirk, Purchasing Agent Proposal: Merchant Card Services, Dated: June 25, 2009 Subject: Addendum #2 (3 pages) Date: July 2,
More informationFOR A BARRIER-FREE PAYMENT PROCESSING SOLUTION
FOR A BARRIER-FREE PAYMENT PROCESSING SOLUTION MAKE THE SWITCH TO MONEXgroup ecommerce I Mobile I Wireless I Integrated I Countertop Solutions PAYMENTS IN-STORE PAYMENTS ON-THE-GO PAYMENTS ONLINE Accept
More informationEDUCATION - 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 informationVisa Easy Payment Service. Merchant Best Practices
Visa Easy Payment Service Merchant Best Practices Table of Contents Make Payment Processing Faster While Increasing Sales........................1 Visa Easy Payment Service..................................................
More informationINDEX. Please click on a section title to go to the respective page WELCOME ON BOARD... 04
INDEX Please click on a section title to go to the respective page WELCOME ON BOARD... 04 KEY BENEFITS... 05» SAVINGS ON FUEL PURCHASES... 08» EARN FUEL WITH PAYBACK POINTS...08» EXPERIENCE ENTERTAINMENT...
More informationCard Acceptance Best Practices to Manage Rates and Minimize Risk
Card Acceptance Best Practices to Manage Rates and Minimize Risk Kim Jackson VP, Transfund Merchant Services April 23, 2014 BOK Financial is registered with the National Association of State Boards of
More informationCredit & Debit Application
USER MANUAL ALL TERMINAL PRODUCTS Credit & Debit Application Magic Models: C5, X5, X8, M3, M8 V Series Models: V5, V8, V9, V8 Plus, V9 Plus 1 Dejavoo Systems Instruction Manual V429.12 Instruction Manual
More informationThe 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 informationJCharge White Paper. Merchant, Acquirer, Bank, Authorization Network
JCharge White Paper A company using an IBM iseries (AS/400) has several methods from which to choose in taking credit card payments. Whether the payments are for retail, mail order, phone order, or Internet
More informationSmart Self-Service Casual Family Restaurant White Paper
Smart Self-Service Casual Family Restaurant White Paper Contact: NextChoice 130 Central Avenue Dover, NH 03821 603-812-0330 sales@nextchoice.com www.nextchoice.com Copyright NextChoice, 2011. All rights
More informationThe Adoption of EMV Technology in the U.S. By Dave Ewald Global Industry Sales Consultant Datacard Group
The Adoption of EMV Technology in the U.S. By Dave Ewald Global Industry Sales Consultant Datacard Group Abstract: Visa Inc. and MasterCard recently announced plans to accelerate chip migration in the
More informationFirst Data ISO Reseller Program. Build an independently operated business with outstanding long term income potential.
First Data ISO Reseller Program Build an independently operated business with outstanding long term income potential. First Data is an industry leader in providing payment solutions, working closely with
More informationCredit Card Industry
Credit Card Industry 1 Credit Card Processing - A 10 Year History Meat Slicer or Knuckle Buster, Paper Records, Card Present Terminal Device, Paper Records, Card Present Software Only, Electronic Records,
More informationFlexible and secure. acceo tender retail. payment solution. tender-retail.acceo.com
Flexible and secure payment solution acceo tender retail payment solution tender-retail.acceo.com Take control of your payment transactions ACCEO Tender Retail is a specialized middleware that handles
More informationVISA EASY PAYMENT SERVICE MERCHANT BEST PRACTICES
VISA EASY PAYMENT SERVICE MERCHANT BEST PRACTICES VISA EASY PAYMENT SERVICE MERCHANT BEST PRACTICES Table of Contents Make Payment Processing Faster While Increasing Sales........................1 Visa
More informationTackling Campus-Wide e-commerce
SUNGARD SUMMIT 2007 sungardsummit.com 1 Tackling Campus-Wide e-commerce Presented by: Troy Boroughs University of Richmond March 22, 2007 A Community of Learning Introduction For years, the University
More informationInnovations in Payments and Decoupled Debit Reshape the Power of Merchant Loyalty Programs
Innovations in Payments and Decoupled Debit Reshape the Power of Merchant Loyalty Programs How merchants can drive customer loyalty and lower the cost of doing business through customer incentives and
More informationBe*PINWISE Cardholder FAQs
Be*PINWISE Cardholder FAQs 1. Who is behind the BuySafe initiative? The Industry Security Initiative (ISI)/BuySafe initiative comprises representatives of ten Australian financial institutions including
More informationInternational Processing for the Financial Industry
Payment Services International for the Financial Industry State-of-the-art transaction processing and an unparalleled bandwidth of operational services to support banks and payment service providers worldwide.
More informationTHE FIVE Ws OF EMV BY DAVE EWALD GLOBAL EMV CONSULTANT AND MANAGER DATACARD GROUP
THE FIVE Ws OF EMV BY DAVE EWALD GLOBAL EMV CONSULTANT AND MANAGER DATACARD GROUP WHERE IS THE U.S. PAYMENT CARD INDUSTRY NOW? WHERE IS IT GOING? Today, payment and identification cards of all types (credit
More information