Industry Updates

Amazon Register Shutting Down!

Merchants – In need of a simple, reliable way to process? Give us a call, we’re here to help!   Merchants using Amazon Register have just under 3 months to find a new Merchant Services company, as Amazon is discontinuing their processing platform. Amazon notified their current merchants via email on October 30th, 2015 that they would no longer be able to process post February 1st, 2016. Amazon no longer wants their merchants using their e-commerce solution, but rather selling their products [...]

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The Security Benefits of EMV Compliant Cards

 In 1994, Europay, MasterCard and Visa (EMV) began development of a new type of credit card to deliver higher security for both the merchant and the consumer. The companies recognized the benefits of utilizing chip technology on payment cards instead of the standard magnetic strip. Chip cards resist counterfeiting almost completely. However, they also recognized the need for international standards to facilitate global acceptance of the new security measures. Thus, the EMV standards have been developed for integrated circuit cards (IC [...]

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Why Eliminate Paper Checks in 2014??

It is essential for companies that want to stay competitive to capitalize on new trends.  Despite this need for streamlining payment options, many businesses continue the more costly practices that their customers have grown accustomed to.  Studies show that paper checks are more expensive and less efficient than the new digital payment processing options.  Here are 5 Great Reasons to make the switch! Electronic Invoicing and Presentment saved the government 70% each time an item was processed, this reduced overall payment [...]

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Mobile Processing Making an Impact

With mobile processing becoming more available to merchants, many businesses who may not have considered accepting credit cards before are now making the switch.  With mobile processing equipment being simple to use, small in size, and requiring minimal installation, it is an efficient solution for many merchants. Here are a few industries that have really migrated towards, and are already benefiting from, mobile processing solutions: Local Farmers Markets We have all driven past or even stopped at a farmers market, whether in [...]

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Vantiv Becomes First U.S. Acquirer to Complete MasterCard Requirements to Process EMV Transactions

Vantiv, Inc., a family company of NPC, announced on Monday that it is the first U.S. acquirer to complete MasterCard’s testing requirements to be able to process EMV transactions for MasterCard, Maestro, and Cirrus brands at both ATM and point-of-sale locations. (Not sure what EMV is? Click here.) Starting in late April, cardholders at People’s United Bank in the Greater New York Area will be able to conduct EMV transactions at selected ATMs.  This will be the first Vantiv client to [...]

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More States Considering Ban on Credit Card Surcharges

Last month we told you about the new merchant surcharge rules and the 10 states that currently have a ban on surcharging.  Since then 13 other states have started to consider joining this list, and the legislatures in these states are working on bills to prevent these added fees. In case you missed our first article, Visa and MasterCard have recently agreed to let merchants add a surcharge to credit card transactions due to a settlement agreement.  This settlement does [...]

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Merchant Surcharges

As of January 27, 2013, a policy was put into place that will allow merchants to assess surcharges on all credit card transactions.  These transactions can be swiped, key-entered, or processed online, but there are a few requirements merchants need to review first. -Merchants must notify Visa and MasterCard, and their processor, 30 days prior to beginning surcharging. Visa offers a form for this: https://usa.visa.com/merchantsurchargenotification/inquiry.do MasterCard can be notified by sending an email with merchant information–these requirements can be found here:  http://www.mastercard.us/merchants/support/surcharge-rules.html -Merchants must [...]

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EMV Technology – What Is it and How Does it Impact You as a Merchant?

As a merchant you probably know that fraud is out there and can happen at any time.  Europay/MasterCard/Visa, or EMV, is now working to crack down on fraud.  EMV is a smart card system that changes how cards are read and information is verified. Instead of using the magnetic stripe to authenticate and verify card information during a sale, EMV uses a computer chip that is embedded into the card.  While mag-stripe technology relies on static data that just repeats [...]

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MasterCard Acquirer Fee

As of July 1, 2012 MasterCard  has implemented a new fee called the MasterCard Acquirer Fee.  This new acquirer fee is designed to ensure that MasterCard transactions will be processed directly through their network, instead of through a third party network.  In turn, this will assist MasterCard in continuing to protect cardholders and merchants from fraud. There is no need to worry, however, as this fee is very minimal.  It will be based on each merchant’s previous month’s statement volume, and [...]

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