Credit Card and Merchant Services Salespeople: Ongoing monthly residual opportunity

 Credit card and merchant services salespeople: how would you like monthly protected residuals by representing the top POS system for beer, wine and liquor stores in the United States? Contact Kevin at RITE Cloud Retailer liquor store POS at kevina@rite.us or 208-994-9404.

 

 

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.

New Merchant Services Options for QuickBooks Point of Sale

As you know, I used to sell and support QuickBooks point of sale - I even still have a demo copy of the software on one of my laptops. QuickBooks point of sale is a simple and easy to install and use point of sale software program for lower volume retail stores and museums. My main complaint about QuickBooks POS was that you had to use Intuit for merchant services (or a separate credit card terminal).

That is no longer the case as there are now third party gateways that work with QuickBooks POS for merchant services (credit and debit card processing). This only applies to the non-cloud version of QuickBooks POS and is being offered by a reputable merchant services company.

Call (208-340-5632) or email (kevinantosh@gmail.com) me for more information and I can connect you with the correct person who has more details on costs and equipment options.

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.

SHA-1 to SHA-2 Requirements and Point of Sale Systems

Update October 28th, 2016: the deadline for TSYS SHA2 compliance is now January 1st, 2017 and December 27th, 2016 for First Data. Microsoft RMS users will need to look at integrated solutions like Card Defender for Microsoft RMS or separate terminals that do not integrate with RMS to comply with this requirement.  I've had multiple stores using RMS and First Data also contact me over the last couple of days as well so I suspect that I'm going to be quite busy setting up Card Defender over the coming months!

September 15th 2016 Update on new SHA-1 issue specific to Windows 10 and Heartland: http://retailpospondering.blogspot.com/2016/09/windows-10-sha-1-and-sha-2-issues.html

Given how quickly people figure out how to compromise credit card information and similar data, I suspect that we will be seeing new credit card processing security requirements coming out several times each year.

If you have been informed that your merchant services company requires you to comply with SHA-2 then you need to contact your point of sale vendor/dealer/partner to ensure that your system is SHA-2 compliant.

You can learn more about SHA-2 by visiting https://en.wikipedia.org/wiki/SHA-2

As always, contact me for no cost retail point of sale advice.

Watch for EMV Scams

Good warning from a media company related to watching out for scams related to new EMV terminals. Don't ever feel pressured in to signing a contract for any equipment for your business or organization.  As pointed out in the article, this merchant checked for reviews and found a lot of negative feedback which is a huge warning sign not to buy anything from that person or company.

Plus, new credit and debit card terminals still need to be injected/encrypted which normally takes several business days so no one should be attempting to sell you something needed instantly (The EMV liability shift date is not until October 1st, 2015 for card present transactions in the US so we all have time to plan accordingly).

Here is a link to the full article from KTVB: http://www.ktvb.com/story/news/local/2015/06/09/shop-owners-are-being-targeted-during-credit-switch/28724615/

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.

What to do about Change of Service Fees

As you know, I am very much in favor of only using point of sale systems that allow you to pick, choose, and change which company handles your merchant services for debit and credit card processing.  As we all know how competitive merchant services companies can be, the worst thing we can do is lock ourselves in to a long term contract or commitment where our rates can be raised.

That being said, it is likely that changing who handles your merchant services may involve a fee and a service call to change the information in your point of sale software - plus you want to test the new settings to make sure that everything is functioning correctly.

Most point of sale companies charge $250 to $800 to perform a "change of service" related to changing the settings in your point of sale system so you can switch/change merchant services companies. I've found that it never hurts to ask the company that you are switching to for merchant services to cover that fee via a credit or series of monthly credits - just be sure to get in writing!

That way, you can make sure that you are always paying the lowest fees for debit and credit card processing.

Please visit my contact page for information on how to reach me.

Gravity Payments is Making National News

Update: I do have a meeting scheduled with Gravity Payments in Mid May and will pass along more information after the meeting along with any personal recommendations and/or special offers.

As regular readers and watchers of my blog site and YouTube channel know, I focus mainly on cash register and point of sale advice.  However, with the upcoming EMV Liability Shift date as well as many businesses and organizations searching for new or updated point of sale systems,  some of you have mentioned to me that you are actively searching for a better merchant services company to work with.

As the above are all good reasons to shop around for better rates for debit and credit card processing, I wanted to pass along that Gravity Payments has been making the national news lately - in a good way!

The founder and CFO of Gravity Payments (who graduated from a Christian High School that I am very familiar with) has made a commitment to take a lower salary so all the companies employees will eventually make $70,000 or more annually. That is a pretty bold move and speaks well about the company itself. I checked around for reviews and feedback on Gravity Payments from customers and employees and there is actually very little feedback out there. What I found was mostly positive and Gravity Payments does have an "A+" rating with the BBB.

The limited number of reviews and "A+" BBB rating are positive indicators - especially of you search for reviews and complaints for other similar merchant services companies.

As always, perform some due diligence and take some time to watch for the following when working with any merchant services company:

• Will the equipment be compliant to meet the EMV Liability Shift deadline coming up on October 1st, 2015 in the United States
• Early termination fees
• Any sort of long term contract commitment
• Any long term lease requirements
• Ensure that the companies processing will work seamlessly with your point of sale system
• What the real rates/fees are for all types of credit and debit cards (especially check the rates for rewards and airline miles cards)
• Any statement, PCI, chargeback, or similar one-time, monthly or annual fees
• That the average sale/transaction amount in the contract matches what your records show

If you are in the position of wanting to compare rates, you may want to take a look at the Gravity Payments website at http://gravitypayments.com/

Please visit my contact page for information on how to reach me.

PS - as I have a couple of trips planned to Seattle, I may swing by the offices at Gravity Payments and have a cup of coffee to learn more about their company.

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.

Looking for a Discount or Tax Break?

Just a quick reminder that I can't sell you anything but I do keep tabs on which companies are offering specials on the following:

• Merchant Services (credit and debit card processing)
• Paper and Label Supplies
• Cash Registers
• Point of Sale Hardware
• Point of Sale Software & Apps
• Cash Drawers
• Receipt Printers
• Kitchen, Prep and Bar Printers
• Touch Screens
• Barcode Label Scanners
• Barcode Label Printers
• Data Collection Devices
• Card Swipes
• Customer Price/Pole Display
• Tablets
• And More

If you are in the United States, simply contact me for more information.

Point of Sale Buying Tip Video - Merchant Services

Over the last 15 years I have conducted point of sale workshop presentations at retail and museum conferences, expos, and trade shows as well as at small business development/success centers.  I thought that it would be helpful to create some point of sale buying tip videos related to excerpts from the point of sale workshop presentations.

This excerpt deals with merchant services (credit and debit card processing) and things to watch out for when choosing a merchant services company, I also touch on EMV as well as how merchant services and point of sale systems should interact.

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.

Credit & Debit Card Processing News

There is still quite a few changes happening over the next 3 years related to credit card processing.  We have already seen the PCI Compliance changes and the MasterCard Gift Card partial authorization requirements put in place.

Next up are the unique terminal ID requirements and EMV (Eurocard, MasterCard, and Visa) requirements related to contactless credit cards (what the rest of the world is already using).  Both of these new requirements will mean some software and some likely hardware changes. Be sure to stay current on your point of sale software maintenance agreements so you receive software updates as they become available.

If for some reason you are still not PCI Compliant, here is some industry data you need to be aware of related to not being PCI Compliant:

"According to Sean Kramer, president and CEO of Element Payment Services, the penalties for noncompliance are severe. “The penalties can include the loss of the ability to accept credit card payments, noncompliance investigations, and fines. In fact, according to the 2012 Security- Metrics Payment Card Threat Report study, credit card breaches cost retailers $5.7 million per incident on costs, which include detection, notification, legal fees, loss of customers, and brand damage. On average this equates to $194 per compromised credit card, according to the 2011 Cost of Data Breach Study published by the Ponemon Institute,” Kramer says."

You can read the complete article (which also talks about why point of sale programs like our NCR CounterPoint solution are now offering point to point encryption) by clicking here. Note that this article is more for businesses who provide point of sale solutions.

Terminal ID Requirements

In 2014 there is a proposed change related to making sure that each point of sale or credit card terminal has a unique ID. This will help narrow down fraudulent transactions to see if they are isolated or more widespread. Again, software and hardware changes are likely in order to comply with this proposed requirement. 

EMV

I have talked a bit about the EMV standard hitting the US in late 2015.  It is something that we all need to plan (and budget) for.  This will involve both software updates and hardware changes.

You can find a more detailed explanation of EMV here and here.

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 (mountain time) or via email at kevinantosh@gmail.com.

MasterCard/Visa Lawsuit Settlement

Like many of you, I just received a very long notice explaining my rights related to the U.S. District Court settlement related to merchants who accepted MasterCard and Visa since 2004.

Since this is a 27 page document outlining our rights to obtain part of the $6 + billion (US) dollar settlement, I thought that it would easier to post resource information in case you have accepted MasterCard/Visa in the January 1st, 2004 to November 28th, 2012 time frame and have not received settlement information.

The toll free number for the case is 800-625-6440.

Email: info@paymentcardsettlement.com

Address: Payment Card Interchange Fee Settlement, PO Box # 2530, Portland OR 97208-2530

The official website is www.paymentcardsettlement.com

The proposed settlement equals one-tenth of 1% of your MasterCard/Visa transaction volume during an 8 month period starting July 29th, 2013.

Note that if you do nothing, you will get nothing. Be sure to call or check out the website to see if you qualify for part of the settlement.

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 (mountain time) or via email at kevinantosh@gmail.com.

Point of Sale and Credit Card Processing

As point of sale software companies look to increase revenue, one of the common trends over the years has been to 'force' customers to use a certain company for credit card processing services (also known as merchant services).  One of the first companies to do this was Intuit when it came to QuickBooks Point of Sale software. You can always use a separate card terminal but processing credit and debit cards within the point of sale system is much more efficient (only one receipt and quicker end of day procedures).

I've had the opportunity to review merchant services statements from businesses using QuickBooks Point of Sale and Intuit Merchant Services and found that the merchant was generally paying 1/2 to 1% higher than normal fees.  For a typical retail business, this could easily add up to $2000+ annually in additional merchant services fees.

Point being - I highly recommend that you consider two things when searching for a point of sale system:

1. Ask if the point of sale software works with multiple merchant services providers - that allows you to shop around for the lowest rates.
2. Ask about hidden fees related to the point of sale software and merchant services. For example NCR's CounterPoint point of sale software allows you to pick and choose a merchant services company but, if you do not use NCR Payment Services, then you will be charged an additional annual fee (generally less than $200 annually but something to keep in mind).

All in all, pay attention and ask questions when it comes to point of sale software and merchant services - failure to do this could have a negative effect on your bottom line.

Brief Update on EMV

First, a quick note of thanks to those who attended my retail and restaurant point of sale workshop last week. We'll take a break and look at what types of workshops to offer in 2013.

Now, on to EMV. As you have likely heard EMV (Eurocard, MasterCard & Visa) is a new set of specifications when it comes to payment processing using chip based credit cards and terminals.  Not all the details have been released but retail stores and restaurants will likely need to have compliant hardware, software and peripherals in place or will end up paying more in merchant service (credit and debit card processing) fees.

It appears that 2015 will be the deadline to start complying with EMV standards.  Since details are vague at this point, I'll keep an eye out for more details as they become available.

-Kevin