4 Questions You Should Be Asking Merchant Services Companies

A video sharing the 4 questions that you should be asking when searching for a merchant services/credit card processing provider. Suggested answers are included as well!

Questions, suggestions or comments can be sent to kevinantosh@gmail.com / 208-340-5632. Please note that I do not provide or represent any merchant services companies. I am able to refer you when possible (US only please).

Microsoft Dynamics RMS and Retail Management Hero Differences - Merchant Services

OK - not one of my more exciting videos but there are some key differences in how Microsoft Dynamics RMS and Retail Management Hero (RMH) handle credit card processing. The video highlights the differences and also touches on how Card Defender applies to both RMS and RMH.

You can always contact me at kevinantosh@gmail.com or 208-340-5632 with questions related to RMS, RMH and/or Card Defender.

MasterCard May 1st 2017 Mandate for New Numbers - Will RMS Process the New Cards?

As retailers report receiving more letters and emails from WorldPay, Heartland and other merchant services companies related to the MasterCard 2 Series Bank Identification Number (BIN) Mandate, the biggest question is "will I be able to accept and process the new cards if I am using the Microsoft Dynamics RMS point of sale software?"

A quick reminder that this mandate goes in to effect on May 1st, 2017. Not being able to accept and process the new number sequence on these MasterCard credit cards means fines of up to $20,000 per the letters and emails that have been shared with us.

As for the question, the short answer is "yes, but...". We've done some testing and RMS appears to handle the new card numbers. However, there are quite a few variables at play related to the version of RMS being used and any add-ons being used with RMS.

There is also the reality that new payment processing requirements are being introduced on a fairly regular basis and RMS is not being updated to accommodate these requirements. A better solution is looking at Card Defender which integrates with RMS but assumes all the payment processing liability using the latest in payment processing terminals as well as being updatable to meet or exceed present as well as future payment processing requirements.

Because of the variables involved, as well as future payment processing requirements, the best answer to the question is "Yes, but please contact RITE at 888-267-7483 or sales@rite.us in order to discuss your specific situation and look at the best course of action".

Merchant Services/Credit Card Salespersons

OK - I already hear the groaning and comments related to salespeople who represent merchant services/payment processing companies.  Keep in mind that I do not represent any of these companies (I stick with just point of sale system and not payment processing services) but have learned a lot over the last 18 years working with what I call merchant services salespeople. Some advice when choosing the best merchant services salesperson (and company):

1. Look for transparency (all fees are disclosed and no unusual fees like PCI compliance charges, buyout charges, statement fees, etc).
2. No contracts (needs change - no sense having to pay $500 to get out of a contract)
3. No equipment leases (do you really want to pay $1500 for a $500 piece of equipment?)
4. The salesperson is not afraid to say "no" or "I will need to check on that and get back to you"
5. The salesperson meets any pre-sale commitments
6. The salesperson and company have already worked with other similar businesses in you area making for some easy reference checks and established familiarity with your business
7. You are working with someone with a local presence that can't hide behind email or voice mail
8. No unreadable fine print on any paperwork
9. The salesperson does not pressure you into making a hasty decision or set short deadlines
10. Rates are easy to see and match your business data (like the average transaction amount)

If you think that the above list is unrealistic - its not. These are some of the standards that I have required over the years and I've never run into an issue with any reputable merchant services salesperson/company balking at the above list.

I've found that the right merchant salesperson can make all the difference when it comes to dealing with merchant services. It also helps me out as the retail point of sale systems that I work with go 'hand in hand' with what merchant services companies offer making it critical for me to have someone that I, and my customer, can count on.

EMV Options for Microsoft Dynamics RMS Users

Update July 2016: Since many Microsoft RMS point of sale software would like to keep using RMS for another couple of years but still need to deal with the EMV Liability Shift Date, visit this post for more information on the Card Defender EMV add-on for Microsoft RMS versions 1.3 and higher (and HQ as well): http://retailpospondering.blogspot.com/2016/06/card-defender-emv-add-on-for-microsoft.html

Update July 2016, Retail Management Hero (RMS version 3.X) demo and overview: http://retailpospondering.blogspot.com/2016/07/new-version-of-rmsretail-management.html

Updated information on Retail Management Hero as a direct replacement for RMS as of December 3rd, 2015: http://retailpospondering.blogspot.com/2015/12/updated-information-on-new-retail.html

New video discussing options for Dynamics RMS and HQ users as of December 5th, 2015: https://www.youtube.com/watch?v=evVWS7dj0Bs

Update August 8th, 2015: Blog post and video covering all the options available for RMS users related to EMV: http://retailpospondering.blogspot.com/2015/06/options-for-microsoft-dynamics-rms-and.html

I want to thank the folks at Retail Realm for spending some time with me discussing the future of RMS as well as the new Retail Essentials point of sale solution. As I have personally sold many copies of RMS and HQ and continue to receive calls & emails on a weekly basis from RMS and HQ users of all sizes, I am pleased to pass along the following information related to the EMV Liability Shift and Microsoft Dynamics Retail Management Systems Store Operations and Headquarters point of sale software programs.

While Microsoft has not made a formal statement related to EMV and RMS/HQ, Retail Realm has worked with multiple companies to introduce payment gateways that are "EMV ready".  As everyone should now be compliant with the latest PCI standards (if you are not compliant then don't be surprised to receive information about potential penalties and fines for processing debit and credit card payments through a non-PCI compliant system), the focus has shifted to the EMV Liability shift that is scheduled to take place in October 2015 for businesses and organizations in the United States.

Shift4 offers one of these EMV ready payment gateways that works with RMS and HQ to ensure that your payment processing is done utilizing the latest in encryption and tokanization methods. In fact, no actual card information resides on the point of sale system as encryption takes place as the card is swiped.

Retail Realm is also working with other payment processing and processing gateway companies to allow for RMS/HQ integration.

While these companies do have various fees related to their payment processing and processing gateway services, it is nice to know that RMS and HQ users do have processing options aside from using an independent credit and debit card terminal.  Note that there are still costs associated with EMV compatible credit and debit card terminals which everyone will need to purchase anyway.

While it would be great if Microsoft announced an update and compatible EMV hardware list, at least Retail Realm has some options available now.

You can always contact me, Retail Realm, Shift4 or your RMS Dynamics Partner for more information.

Updated information on the upcoming Retail Management Hero Software (or what I am coining "RMS 3.0 for 2015 and beyond") can be found here: http://retailpospondering.blogspot.com/2015/06/new-option-for-rmshq-users-retail.html

Are you  in the US and in need of no cost retail point of sale advice?  I'm happy to help and can be reached on my cell at 208-340-5632 (I am on Mountain Time) or via email at kevinantosh@gmail.com. There is also a contact form to the right that can be used to reach me.