Travel Payment Options
March 15th, 2017 by Elma Jane

Payment Options 

Technology continues to evolve, offering multiple billing and payment methods increases satisfaction by improving customer experience.

Customers will continue to move toward digital life, like embracing different forms of online billing and ways to accept payments.

Creating convenient ways to accept payments and having more options can reduce the time it takes your business to get paid.

Accept debit and credit card payments online; to offer this feature you need to get a merchant account.

Options for accepting payments: 

Electronic Check Service (ECS) – convert paper checks to electronic transactions, with NTC’s ECS. Converting paper checks to electronic transactions eliminates many of the risks and costs, adding money to your bottom line.

Mobile Payments – the opportunity to increase revenue through mobile payments is huge. Many consumers find that mobile bill pay makes shopping easier, more convenient and saves time. Converge Mobile Solution lets you accept card payments using smartphone or tablet. The app works with most Apple and Android mobile devices.

Online Payment Gateway – offering customers an online payment form enables them to pay you easily and allows you to accept payments by credit card, debit card or echeck.

Electronic Invoicing (NTC ePay) – send your customers an invoice by email and get paid in minutes. Electronic Invoicing gives your customer the ability to pay their bills and receive a receipt in seconds by email.

Learn more about accepting electronic payments with NTC or sign up with us.

No setup or cancellation fees, there’s no risk! call now 888-996-2273

 

 

 

 

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Travel Payment Options
March 1st, 2017 by Elma Jane

ELECTRONIC PAYMENTS 

When it comes to electronic payments, certain types of businesses are considered high risk.

Most merchants do not realize that electronic payment processors carry a financial risk on merchant accounts, and normally fund merchants prior to receiving payment from the client’s bank.

Essentially, a merchant account is an unsecured loan.

Different factors used to determine when a business is a high risk are:

  • Types of products
  • Services they sell how
  • How they sell them

Online transactions are considered high risk because there are increased risks of fraud.

A key factor used to determine the risk of a business is chargebacks.

Chargebacks include customer refunds and fraudulent transactions.

Payment providers assess this risk to determine the percentage of chargebacks your business is likely to experience.

Businesses that are considered high risk where they take advanced payments:

  • Travel agencies
  • Ticketing services

Electronic payments provider is necessary if you want to accept debit and credit card transactions.

For high-risk electronic payments please feel free to call us at 888-996-2273.  

 

 

 

 

Posted in Best Practices for Merchants, Travel Agency Agents Tagged with: , , , , , , , , , , , ,

PIN vs. Signature: What’s the Difference?
January 25th, 2017 by Elma Jane

PIN vs. Signature: What’s the Difference?

PIN DebitPIN transactions are routed through what are known as (EFT) electronic funds transfer. It immediately deducts the transaction amount from the customer’s checking account, which is linked to the debit card used for payment. EFT processing takes place when the customer chooses debit when prompted and then enters her PIN. PIN debit transactions are often referred to as online transactions because they require an electronic authorization.

Signature Debit Signature-based debit transactions are authorized, cleared and settled through the same Visa or MasterCard networks used for processing credit card transactions. Signature debit processing is initiated when the customer selects credit when prompted by the POS terminal. Signature debit transactions are referred to as offline transactions because a PIN debit network does not play a role in processing.

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January 12th, 2017 by Elma Jane

Accepting non-cash payments from your customers are valuable. If you don’t, you will miss out on sales; because of the growing numbers of customers who only carry plastic or wish to pay online. Today, you have many payment solution options.

Credit Card Terminals – you might remember the beginning of the credit card era and i’ts evolution with today’s countertop terminals. From the traditional swipe of their credit, debit or even gift card to make a purchase to today’s modern terminals. Like accepting EMV chip cards (to be in compliance with a PCI mandate) and NFC payments like Apple Pay.

Beyond the basics; these systems are generally supported by reporting sites that can help you monitor sales, and assist you with maintaining customer loyalty programs.

E-Commerce Solutions – online sales are growing every year. If you are considering an expansion of your business online; you need a complete hosted payment solution for transactions in all payment environments. Including in-store, back office mail/telephone order (MO/TO), mobile and e-commerce, that make your customers’ experience as intuitive and efficient as possible.

Point of Sale Systems  – smart registers have evolved into high-tech point-of-sale (POS) systems due to technology advances. Not only taking customer payments; but it can transform your business with an advanced marketing programs, inventory management and sales and profitability tracking and reporting. Over the past years these advanced systems have become cost-effective and easy to use.

Wireless Terminals – in today’s hardware you have the option of accepting payments wirelessly, through a full-service terminal that is smaller than a countertop model, or through a mobile card reader plugin for a smartphone or tablet.

The advantage of a full-service wireless terminal is that it allows for receipt printing on the spot through the device and most modern full-service wireless terminals are EMV compliant and accept both EMV (chip card) and NFC payment types.

Call now 888-996-2273 and speak to our payment consultant to know which solution is best for you.

 

 

Posted in Best Practices for Merchants, Credit Card Reader Terminal, e-commerce & m-commerce, EMV EuroPay MasterCard Visa, Mail Order Telephone Order, Near Field Communication, Payment Card Industry PCI Security, Point of Sale Tagged with: , , , , , , , , , , , , , , , , ,

Surcharge and Convenience Fee
December 19th, 2016 by Elma Jane

Surcharges and Convenience Fees:

A surcharge is a fee that is added to a card transaction, either as a set amount or a percentage of a transaction. Typically, used to cover the cost of the merchant service charge.

There are rules, exceptions and state laws to observe to ensure you are compliant.

At present there are surcharge bans in the following states:

California, Colorado, Connecticut, Florida, Kansas, Maine, Massachusetts, New York, Oklahoma and Texas. (Appeals are pending for California and Florida) 

Surcharge Rules: 

  • Applicable only to credit card transactions, not debit or prepaid card transactions.
  • The surcharge cannot be greater than the merchant’s average discount rate for that brand’s credit card transactions.
  • Maximum surcharge allowed is 4%.
  • Cardholder must be notified of the surcharge.
  • Surcharge must be listed on the receipt as a line item and the primary payment amount must be processed together as one transaction.

A convenience fee is a fee charged for the “convenience” of being able to pay using an alternative payment channel outside the merchant’s customary payment channel.

Any merchant can charge a convenience fee IF the fee charged is for the legitimate convenience of being able to pay using a different payment channel than the merchant’s usual payment channel.

Example: Your business customary payment channel is face-to-face or card present and you provide an alternative payment channel, such as the option to pay by phone using a credit card, that could then charge a convenience fee along with the payment.

Mail Order/Telephone Order (MOTO) merchants and ecommerce merchants, whose customary payment channel is exclusively non face-to-face or card-not-present, are NOT permitted to charge convenience fees.

Convenience Fee Rules:

  • Customer must be notified of the convenience fee prior to finalizing payment and given the opportunity to cancel.
  • Payment must take place through an alternative payment channel.
  • The fee can only be added to a non face-to-face transaction. Must be flat or fixed, regardless of the value of the payment due.
  • The fee must be applied to all means of payment accepted through the alternative payment channel. Must be included in the total transaction amount.

Posted in Best Practices for Merchants, e-commerce & m-commerce, Mail Order Telephone Order Tagged with: , , , , , , , , , ,

Terminal
September 19th, 2016 by Elma Jane

Terminal or credit card machines are used for processing debit and credit card transactions. Therefore, are often integrated into a Point of Sale System.

Electronic Authorizations – merchants had the choice of calling in for an authorization or imprinting their transactions, but many businesses opted voice authorization only on larger transactions because of the long waiting time for authorizing transaction over the phone.

Manual Imprinters – are considered a great backup processing method. Although time consuming and did not offer the speed or instant transfer capabilities, this imprinters are still widely used.

Point of Sale Terminals: POS emerged in 1979, which was a turning point in the credit card processing industry. As a result,

Visa introduced a bulky electronic data capturing terminal. The first of credit card machine or terminal as we know them today. It has greatly reduced the time required to process a credit card.

In the same year, MasterCharge became MasterCard and credit cards were replaced to include a magnetic information stripe which now has become EMV/chip and PIN.

The Future: There’s a lot of room for advancement when it comes to Credit card processing technology. Increasing processing speed, reliability and security are driving forces behind processing technology advancement.

Today’s credit card terminals are faster and more reliable with convenient new capabilities including contactless and Mobile NFC acceptance. The processing industry will definitely be adapting new technologies in the near future and has a lot to look forward to.

 

 

Posted in Best Practices for Merchants, Credit Card Reader Terminal, Near Field Communication, Visa MasterCard American Express Tagged with: , , , , , , , , , , , ,

Terminal
August 2nd, 2016 by Elma Jane

Credit card machine or point of sale terminals are used for processing debit and credit card transactions and are often integrated into a Point of Sale System. Let’s take a look at the POS terminal evolution.

Manual Imprinters – although the process was time consuming and did not offer the speed or instant transfer capabilities, manual imprinters have been around since the start of a wide acceptance of credit cards. Manual imprinters are still widely used and are considered a great backup processing method.

imprinter

Electronic Authorizations – Merchants had the choice of calling in for an authorization or imprinting their transactions. The first electronic credit card authorizations were done over the phone, but many businesses opted voice authorization only on larger transactions because of the long waiting time for authorizing a transaction over the phone,

Point of Sale Terminals: Point of sale terminals emerged in 1979, which was a turning point in the credit card processing industry. Visa introduced a bulky electronic data capturing terminal. This was the first of credit card machine or terminal as we know them today, it has greatly reduced the time required to process a credit card. MasterCharge became MasterCard in the same year and credit cards were replaced to include a magnetic information stripe which now has become EMV/chip and PIN.

The Future: There’s a lot of room for advancement when it comes to Credit card processing technology. Increasing processing speed, reliability and security are driving forces behind processing technology advancement. Today’s credit card terminals are faster and more reliable with convenient new capabilities including contactless and Mobile NFC acceptance. The processing industry will definitely be adapting new technologies in the near future and has a lot to look forward to.

 

 

Posted in Best Practices for Merchants, Credit Card Reader Terminal, EMV EuroPay MasterCard Visa, Near Field Communication Tagged with: , , , , , , , , , , , , , , ,

CB
July 21st, 2016 by Elma Jane

Always ask for the card security codes:
CVV2 for Visa
CVC2 for MasterCard
CID for Discover and American Express.

Always use the Address Verification Service (AVS) and only process sales after receiving a positive AVS response.

Avoid using voice authorizations, unless absolutely necessary.

Billing descriptor must set up properly and shows your phone number. Customer can contact you directly if there is an issue,

Consider using the associations’ 3-D secure services:
Verified By Visa
SecureCode by MasterCard
A 3-D transaction confirmation proves card ownership and protects you from certain types of chargeback. An additional layer of security for online credit and debit card transactions.

Inform your customers by email when a refund has been issued or a membership service cancelled. Notify them of the date the refund was processed and provide a reference number.

Make available customer support phone number and email address on your website so that customers can contact you directly. You need to meet this requirement before opening a merchant account.

Make it easy for your customers to discontinue a recurring plan, membership or subscription. Have a no-questions-asked policy.

Notify your customers by email of each transaction and indicate that their cards will be charged.

Obtain a confirmation of delivery for each shipment.

Process refunds as quickly as possible.

Secure an authorization approval for every transaction.

Secure customers’ written or electronic signatures, for recurring payments or monthly fees. Giving you express permission to charge their cards on a regular basis.

Terms and conditions must be clearly stated on your website. Customers must acknowledge acceptance by clicking on an Agree or a similar affirmative button.

Transaction amount must never exceed the authorized amount.

You are required to reauthorize the transaction before settling it if an authorization approval is more than seven days old.

 

 

Posted in Best Practices for Merchants, Credit card Processing, Credit Card Security, Merchant Services Account Tagged with: , , , , , , , , , , ,

Card-Present vs Card-Not-Present
July 12th, 2016 by Elma Jane

Interchange is where transactions are submitted for payment from the Acquirer or Merchant Processor to the Card Issuer or Debit Network. It also represents the fees paid by the merchant acquirer to the Card Issuer.

At the time the transaction is exchanged fees are paid and vary based on processing method utilized. It is more expensive to process a hand-keyed transaction than a card-swiped transaction.

Several rates may apply to your transactions, depending on your method of processing each transaction and the interchange qualification that is assigned to each transaction by the Card associations for processing transactions.

Rate qualification criteria: The card associations consider the card product used in the transaction, how the transaction data is entered, the time of settlement versus time of authorization.

Interchange Category Based on Card Type: Credit, Debit, and Rewards purchasing.

Industry Type: Retail or E-commerce.

Qualification Elements: Swiped card or Key entered.

When you settle your transactions each day, Acquirer or Merchant Processor like NTC routes them to the Card Associations (Visa, MasterCard, Discover) and debit networks through Interchange.

Visa, MasterCard, Discover (Card Associations and Debit Networks) establish the rules and manage the Interchange of all transactions.

 

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EMV PIN Debit and Tip
June 6th, 2016 by Elma Jane

The roll out for EMV PIN Debit and Tip Adjust functionalities for the Ingenico Telium POS terminals through a gradual download process begins July 24, 2016. Customers will receive an automatic download following the July release date, or they can go to their appropriate website for instructions to manually update their terminal file.

What to Expect

  • EMV PIN Debit support for Visa, MasterCard, and Discover common Debit AIDs. Note that customers will see new prompts based on how card issuers configure EMV-enabled debit cards.
  • Tip Adjust functionality on the restaurant application.The tip at the time-of-sale prompt will be on by default and will work as it always has. However, if this prompt is bypassed, a blank tip line will print on the receipt. This allows consumers to write the tip amount on the receipt and our customers can adjust as needed.
  • Tip Adjust is supported on credit card transactions only, including magnetic stripe, EMV, key-entered and contactless.

 

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