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Welcome to TopTen Tips on Credit Card Technology!This presentation is based on my guest chapter in Marc Beauchamp’s book, “How to Survive and Thrive II in the Merchant Services Industry.” (2nd Ed.)More information on the book and other helpful links will be shared at the end of the show. Dale Laszig In this book, “You’ll find a history of the industry; how the bankcard system works; explanations about rates and fees, and overviews of existing and future products.” -Marc J. Beauchamp
1.Buy New Why Buy New? Warranty Compliance Reliability Performance Enhanced communications and memory capability New Terminals offer merchants more choice:
For more information, visit: www.pcisecuritystandards.org
“Compliance is not optional anymore.”
3.Buy Value ATMs Checks Bill Payment Gift & Loyalty ID Verification Prepaid Cards Contactless Solutions Claims & Eligibility Programs “Not only are value-adds cost-effective and easy to use, they increase profits.”
Phone bill too high? Try countertop wireless, or Ethernet TCP/IP.
Receiving most of your payments away from the office? Consider a portable wireless payment device.
Are you mainly processing transactions over the phone or online? Look at the newest solutions for eCommerce using secure internet technology.
Do you operate more than one business? Multi-merchant applications will save time, money and counter space.
“Start by solving a simple problem. Maybe their system isn’t appropriate for their business.”
5.Multi-task A few examples: Gateway solutions enable merchants to view transactions in real-time from a variety of platforms. Payment modules embedded in accounting software help merchants simultaneously invoice and process credit card payments. Smart phones and netbooks paired with card readers give merchants a portable enterprise platform for their businesses. The best solutions give merchants “a single access point to a variety of applications. ”
6.Customize Used to be, everyone’s credit card processing looked the same. No more! Today there’s an array of affordable ways to optimize software and brand your processing system. Ask your processor for details. Adding your logo to a payment form or gift card will “advertise and build brand awareness.”
7.Invest in Services Eligibility and Claims Processing Prepaid Cards Gift Cards Loyalty Program Integrated Solutions Virtual Terminals Mobile Solutions eCommerce Solutions What other services does your credit card processor offer in addition to credit card processing?
Who would benefit? Merchants with more than one location Merchants with more than one business Merchants whose mobile workers accept payment at point of delivery Merchants who need remote access to their accounts Merchants who want fraud protection Everyone! 8.Real-timeAccount Access The Many Benefits of Payment Gateways:
“Overnight replacements, automatic shipments of supplies, and other additional support services will give you peace of mind.”
Don’t overload the apple cart: Start with a simple and basic system, and add to it as you grow and become more comfortable. Do your research, interview companies, and ask other business owners for referrals. 10.Begin withBasics “build a payment system that is strong enough for today and scalable enough for tomorrow. ”
For more information or to explore a career in merchant services, contact: Whether you ‘re a merchant, new agent or experienced payments industry veteran, Marc J. Beauchamp’s “How to Survive and Thrive II in the Merchant Services Industry” (2nd Ed., 2009) is your guide to the evolving world of card payment acceptance. To order your copy, visit: www.surviveandthrive.biz Performance Training SystemsHouston, Texas(832) 642-1049 Telephone(509) 352-7523 FaxMarc BeauchampTraining Directormarcb@surviveandthrive.biz