VirtualTrak Technologies

IM at Work, Part 2: Tools for Locking Down

2007-07-06T07:51:00.001-06:00

Letting employees have unbridled access to free, consumer-level instant messaging applications running on their workplace computers is a security disaster waiting to happen. Instant messaging applications are easy targets for hackers taking advantage of vulnerabilities. It is critical for businesses to pay attention to their employees' use of in

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Online Credit Card Processing Shopping Rush

2007-07-02T15:25:00.000-06:00

It is the time of year when businesses start getting busy. Right before Thanksgiving, the holiday shopping rush begins. This includes both traditional retailers and online commerce as well. Do not let Christmas sneak up on you without ensuring that your business can handle the shopping increase.

What can you do to make sure you can handle increased credit card processing during the busy Christmas season? Do not forget to have your technology running as smoothly as possible. Make sure you can handle a big increase in traffic on your web site. If the customer orders do not make it through because you have not accounted for increased traffic, you will have a headache on your hands.

Make sure you have everything in stock. Because ecommerce sites can see an increase of up to 30% in their orders during the holiday shopping rush, your stock can drop dramatically. Remember that many shoppers wait until the last minute to do their shopping – even online! So be sure to cater to them as well as the early shoppers.

Make sure your web site is in tiptop shape. Can customers find stuff easily and quickly? It is important that they can, as many will be in a hurry when shopping. Make sure your order page works properly as you will see increased credit card processing. Also, make sure the search engine is working properly so customers can find things without difficulty. If you offer items such as DVD players, be sure to list DVD links on that page. Cross referencing items can lead to increased credit card processing. As for the page itself, using a festive design to celebrate the holidays can help bring in customers. The visual design of the page is not to be underestimated.

Finally, remember to thank your regular customers with a holiday card. It sounds a bit like a gimmick, but something as simple as this can bring them back in for more orders.

Online businesses face credit card security deadline - Network World

2007-06-14T07:03:00.001-06:00

In an effort to combat fraud, identity theft and other security issues, American Express, Discover, MasterCard, Visa and others created the Payment Card Industry (PCI) data security standard.

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MasterCard SDP - Site Data Protection

2007-06-13T13:45:00.000-06:00

This includes the consumer who is purchasing with Mastercard, the business owner who is conducting the transaction, and the third party processors who are making the transaction a success. Mastercard SDP ensures that the transactions are conducted in the highest safety possible, and ensure that all credit card information is encrypted and kept confidential. Mastercard SDP will help protect the vital information pertaining to the credit card holder and lower the chances of phishing or credit card fraudulent activity.

The Mastercard Company itself takes Mastercard security very seriously. In fact, they feel that if you, as a merchant or business, accept Mastercard payments, then you are in fact partly responsible for maintaining SDP security. It is the business owner’s responsibility to maintain a high degree of security as well. SDP security is essential to making your business a success. If you don’t provide your customers encrypted SDP security you will lose sales. Customers want to make sure that the companies they purchase from will safeguard their information and keep their credit card information guarded. Mastercard security not only benefits your customer, but it also benefits your business by proving that you are a company that will protect your customer’s information. By keeping all files and data that pertain to Mastercard security up to date, you will be taking preventive methods to protect your customers.

The Mastercard SDP program is essential to maintaining your level of respectability, trust, and consumer protection. By participating in the Mastercard SDP program, you can ensure that your online business will provide the level of protection that customers require.

PCI Security Standards Council: Building Trust

2007-06-05T15:10:00.001-06:00

With the formation of the PCI Security Standards Council, multichannel merchants, online retailers, consultants, payment processors, and virtually every organization that touches online payments should find it much easier to comply with the PCI Data Security Standard.

read more digg story

Internet Merchant Accounts

2007-05-30T12:32:00.000-06:00

When applying for Internet merchant accounts, you will hear the term “qualified rate.” The qualified rate it he lowest rate you will incur when having a credit card charge processed. Many merchants may be concerned about the fees associated with Internet merchant accounts. The fees and charges you might incur include:

An application fee
An authorization fee (this is a fee charged each time a credit card is sent to the institution, whether it is accepted or declined)
A monthly minimum fee (to make sure you make a certain number of processes each month. If you don’t make it, you will be charged to satisfy that fee)
A statement fee
A batch fee (incurred each time you settle a terminal, which sends the day’s transactions to the institution for payment)
A discount rate (a percentage of each transaction)
And a per transaction fee (a flat fee charged each time a credit card is successfully processed)

Fees will vary from institution to institution, however all are based on Interchange. Interchange is the base rates used for all Internet merchant accounts and it determined by Visa® and Mastercard. Interchange bases their rates on tiers and include thing such as how easy it is for an institution to process the charge. For example, it is easier to process a credit card that is swiped through a terminal than it is to process one in which the credit card number is keyed into the terminal.

Internet merchant accounts are great ways to ensure you get your money with each online credit card transaction.

Accept Checks Online

2007-05-18T07:11:00.000-06:00

Accepting eChecks allows merchants to tap into a larger customer base which is good business. When you eliminate paper checks and have your customer's checks processed electronically you are guaranteed that their transaction is viable and the funds will be transferred to your merchants account effortlessly. All you have to do is accept the checks and the software program does the rest. Processing a custome,s checks is as easy as accepting and processing their credit card information.

Any business owner knows that building and maintaining a customer friendly storefront is important. The arrival of eChecks is providing merchants with the key that is unlocking their earning potential. Many merchants have missed out on transactions simply because they did not offer payment by check as an option. Accepting checks opens the door to a flood of customers who are not comfortable using credit cards.

There is no doubt that the Internet has changed the way that people shop. With a larger amount of products and services being processed online, you need to be able to meet the demands of your customers and that includes accepting checks. Accepting checks will make your storefront user friendly for home shoppers and being able to process checks in real time will enable you to meet your customers demands fast.

Being able to respond to the influx of check transactions you will be receiving with minimal processing errors is always a concern for merchants. Having a payment gateway that is fast and reliable is the only way you can ensure that processing errors are minimized. Having a reliable and fast payment gateway is the only way you can use the Internet to its full advantage and be an eCommerce contender.

Read more about accepting checks online.

Batch Upload Payment Processing

2007-05-11T10:10:00.000-06:00

Some merchants do not process a very high volume, while others can process thousands of transactions each day, depending on the size of their business. For merchants who do a high volume amount of credit card transactions, a batch upload method of processing is usually the most efficient way to complete it. A batch upload basically means that all transactions are “held” in the merchant’s gateway processing system until they are all complete and ready to be batched. The merchant will then process the batch all at once, so that all transactions are gone through and settle into their bank account at the same time.

Read more about batch upload payment processing.

What is Hacker Safe versus PCI compliance?

2007-05-01T12:16:00.000-06:00

Scan Alert PCI Compliance is a basic service being offered to VirtualTrak Technology merchants Free for the first year. This service only includes the quarterly Scan, assistance with the annual questionnaire and a PCI compliance certificate. Scan Alert Hacker Safe service offers extended PCI services, such as daily Scans instead of quarterly, assistance with the annual questionnaire and a Hacker Safe logo to place on the merchant’s website. The Hacker Safe logo has been proven to increase consumer confidence, thus boosting merchant sales. Hacker Safe PCI can be purchased by VirtualTrak Technology merchants at a discounted rate depending on the merchant’s transaction volume. Scan Alert should be contacted directly for details.

Find out how to become pci compliant and get your PCI Security Certification Service.

Payment Card Industry (PCI) Data Security Standard

2007-05-01T09:35:00.000-06:00

Payment Card Industry (PCI) Data Security Standard

Due to the increase in identity theft and fraud the Credit Card associations (VISA, MasterCard, American Express and Discover) have established the Payment Card Industry Data Security Standard (PCI DSS) for merchants. PCI compliance lists the requirements to ensure that credit card payment transaction details information and cardholder data is protected against theft and identity abuse leading to financial theft. All merchants who accept, process, or store credit card data are required to become PCI compliant by July 31, 2007, and verify this compliance.

The consequence of not verifying compliance includes:

fines
expensive recovery costs
and/or the loss of a merchant’s ability to accept credit card transactions.

Compliance with these requirements will increase consumer confidence while reducing identity theft and fraud.

VirtualTrak Technologies has partnered with Hacker Safe’s Scan Alert who will provide this compliance service to VirtualTrak Technologies merchants “Free” for the first year and only $19.00 each following year.

In order to begin the process of becoming PCI compliant contact Scan Alert at 866-872-3011 and mention that you are a VirtualTrak Technologies merchant and provide code 1115. You may also contact Bankcard Central 800-331-8882 directly for additional questions.

Find additional information on PCI Compliance on VISA's website.

Tips for Business - Prevent Fraud

2007-04-30T11:18:00.000-06:00

Red flags for fraudulent purchases include: bulk transactions, first time shoppers, big ticket items are being purchased, rush delivery, shipping is requested to a different address than the customer or the shipping address is listed as an overseas address, large purchases are being made with numerous credit cards and shipped to a single address, separate purchases are being made but they are coming from a single Internet Protocol address.
The customer should be required to give you the three-digit number on the back of the card. This will ensure that the purchaser has the card in his or her possession.

Find out more information for Tips for Consumers - Preventing Fraud.

Tips for Consumers - Prevent Fraud

2007-04-30T11:08:00.001-06:00

Keep in mind that a criminal does not have to be in possession of your card to make fraudulent purchases. A criminal can obtain your credit card information and make card-not-present transactions by just knowing your credit card number. You should always shred or burn your credit card statements. To protect yourself even further, you should always keep your bills and credit cards in a safe place away from the eyes of anyone who enters your home.
Be patient when you are making card not present transactions. Most businesses are now requiring that you give additional information when you make purchases to ensure that you are indeed the cardholder.

Find more useful tips for Business to Prevent Card Not Present Fraud.

Digg Story

Virtual Terminal Transactions

2007-04-26T14:36:00.003-06:00

VerePay Technologies offers a secure browser based payment processing gateway for business merchants online. The virtual terminal acts as your POS (Point of Sale) terminal which replaces the credit card swipe machine.

Read More
digg story

American Express CID - Card Indentification

2007-04-20T09:03:00.000-06:00

The modern day of shopping is getting an overhaul. Today, consumers are discovering that they can purchase products and services over the Internet, saving time, money, and fuel costs. However, with these great advancements come higher security risks. Because of the potential for credit card fraudulent activity, American Express has instituted their American Express CID security plan. The American Express CID security consists of a four-digit number. CID stands for card identification number, and this number verifies that cardholder’s in fact have the card in their hands and are not just using a credit card number. Using security programs such as the American Express CID security number helps to prevent credit card fraud, misuse, and abuse. Using other security measures as well as the American Express CID security number can help ensure that your customers will enjoy the greatest security possible when completing their credit card transactions online.

American Express is committed to the security of their cardholder’s. This is why they have enacted the American Express compliance stature. American Express expects all merchants who accept their credit cards to agree to the American Express compliance rules and regulations. In fact, if your business uses a different IT structure, and your site doesn’t comply, you will need to contact American Express and find out what you can do to meet American Express compliance rules satisfactorily. It is the responsibility of the merchant service provider to make sure that they are following American Express compliance rules to limit the chance of hacking or other fraudulent activity.

Credit Card Processing Transaction Fees

2007-04-11T10:41:00.000-06:00

These fees are charged per single transaction, and are used to pay the credit card companies for their services. In most cases, these transaction rates are less expensive for the retail stores than they are for the internet stores. This is because internet business poses a higher risk, so the credit card processing transaction fees are typically higher in order to cover that risk. A transaction fee usually consists of a discount rate, which is a percentage of each transaction (usually ranging from 2.10% to 2.40%), as well as a per transaction fee. This fee is usually anywhere from $.25 to $.40 per transaction. All of these fees will be shown on the merchant’s monthly statement so they will be able to see and track their charges each month. While it may seem like this is a high price to pay, it is absolutely worth it for merchants to be able to easily accept credit cards as payment.

Get a free credit card processing rate analysis.

Credit Card Processing Statement Fees

2007-04-11T10:37:00.000-06:00

Visa® and MasterCard are both credit card companies that are governed by the rules and regulations of the banks unlike AMEX and Discover card, which are both privately owned credit card companies. Merchants must obtain a merchant account in order to accept these cards as payment. With this account there are several fees, including credit card processing statement fees, and credit card processing transaction fees. The statement fee is usually charged every month. This fee is exactly what it sounds like, a fee that is charged to cover the cost of maintaining and sending all merchants a statement each month of their transactions and charges. In most cases, the merchant service provider charges around $10 to $15 each month for credit card processing statement fees.

Credit Card Processing for Merchants

2007-04-09T14:32:00.000-06:00

For example, with American Express, the card itself has a 4 digit number above the credit card number to manually add before credit cards are processed. Using Visa, MasterCard or Discover? There is a 3 digit number that will need to be manually entered as well, ensuring that the credit card is real.

Some information to keep in mind about online credit card processors like PayPal and other companies is they have higher processing fees than most Credit Card Processors because they have a set amount per charge per processing fee, unlike Credit Card Processors that can some times negotiate the processing fees.

Most important to the merchant, make sure you research whom you are going through. There are a lot of flashing advertisements out there quoting a specific amount for processing. Make sure it is true. Most of those are for companies that have a very large processing amount. Or process a lot of cards. Protect your self and at the same time that will ensure security to the consumers that want to purchase the goods and services your company provides.

Request more information to start accepting credit cards today!

A high percentage of people don't carry cash anymore.

2007-04-09T14:27:00.000-06:00

With businesses today, ninety percent of people pay with credit cards. And a majority of those use a Visa or MasterCard logo ATM bank card. The need for carrying cash is fading quickly, and the measures that credit card companies are taking now to make sure every transaction is safe, gives people a sense of security.

With Fraud Protection, credit cards companies reverse fraudulent charges with no repercussion to the customers’ credit card. With all the information required, usually the monies used in the fraudulent purchase are refunded with in 24 hours.

The ease of using a credit card at most locations is making it so even fast food restaurants are making it possible to use credit cards instead of only cash. Gift cards are now available in credit cards instead of going to a specific store, making those holiday credit cards a huge success.

Credit Card Processing

2007-03-26T11:01:00.000-06:00

For the merchant, having a credit card processor that will work with them whether they are mail order, online, wholesale or retail is very important. Being able to accept all major credit cards also depends on which credit card processor the merchant goes through. Not all processors provide services that can provide all major credit cards. Some do strictly Visa and MasterCard, and there are quite a few small businesses that use American Express for the small business benefits that card offers.

One of the most important requirements that a merchant wants with their credit card processor is a peace of mind when it comes to safety in their processing. By insuring a safe credit card processor to reduce the risk of fraudulent charges and also the risk of having their customer’s credit card numbers and information stolen due to the lack of security with a credit card processor, some things to look for are: Does the credit card processor use companies like Scan Alert or other types of PCI Compliant security scanning tools? Those companies use other Hacker Safe programs to ensure their software is not being compromised as well. That is one if the first steps to ensure safety in credit card processing.

Accepting Credit Cards

2007-03-23T08:04:00.000-06:00

In this day and age most major stores you go into accepts credit cards. Many consumers today have ceased carrying cash. For most businesses it is almost imperitive that you accept credit cards in order to compete. In the past there was a stigma about how expensive it was for merchants to accept credit cards. However, if you are set up with the correct type of merchant account the cost associated with it is not really expensive. If you are able to save each sale that you have lost from not accepting credit cards, or from accepting a check against your better judgement your overall revenue would increase.

Some merchants have accepted credit cards in the past and felt that they paid way too many hidden costs. The best way to avoid this is to research the company that you are going to get a merchant account with. Make sure that you know how credit card processing works and why there are different fees. Do not be afraid to ask questions.

Examples of good questions to ask:

How long will it take to get approved?
How many days will it take to get paid for credit card transactions?
How long is the contract, if any? If so how much is the cancellation fee?
How do I get a machine (terminal) or website?
Is there an annual fee?
What happens to my merchant account if I close my business?

Accepting credit cards does not have to be painful. If you have some questions about merchant accounts please Click Here

Talento T-IPP Credit Card Terminals

2007-03-21T09:17:00.000-06:00

Accept credit cards today with a Talento T-IPP Credit Card Terminals.

Being able to accept credit cards with today’s age of almost everyone carrying some sort of credit card is very important. However, there are still those that prefer using their Debit card. And then there are those that use EBT. With this system you accept all the above. With a simple to plug in external key pad, the customers can add in their pin.

Keywords: ebt, talento, t-ipp, credit card terminals, debit cards, credit card transactions, card transactions

Wireless Credit Card Terminals by EXADIGM

2007-03-20T09:51:00.000-06:00

This unit will benefit anyone’s company the moment that it is purchased. The merchant has a retail store and wants to go do trade shows. Now the need for a mobile credit card processing machine is mandatory. This machine connects right to a cell phone, and now the merchant can accept credit cards any where they can think of wanting to sell their merchandise. It can be used with Verizon and Cingular cellar services.

The EXADIGM Wireless Credit Card Processing Terminal can also connect to dial- up modems, USB, Ethernet and Wi-Fi connections.

Keywords: credit card processing equipment, wireless terminals, exadigm

Retail Merchant Accounts

2007-03-16T12:24:00.000-06:00

Being educated in what your company does is one of the most important factors of a thriving company. Decisions are always made when owning a business. What to sell, what not to sell; when to expand from retail to e-commerce, and where and whom to go through for credit card processing. Some merchants prefer to go through their own personal banks, but there are merchants whose credit score may not reach the expectations of what their personal banks prefer or require and could be charged a much higher percentage rate as well as other hidden charges not disclosed during the initial setup. A credit card processor knows that merchants do not always have that perfect credit score. A credit card processor works with the merchant, and their individual issues, giving the merchant the attention each one requires, and not a set package or specific mold. Find out more on how we can help your company succeed.

Free Rate Analysis

Keywords: free rate analysis, accept credit cards today, retail merchant accounts, credit card processor

Address Verification System (AVS)

2007-03-16T12:11:00.000-06:00

What can a merchant, who accepts online, phone, or mail transactions, do to as a means of security protection to prevent themselves from falling victims to accepting stolen credit cards or fake credit card numbers? Merchants can help secure payment gateways by using the Address Verification System (AVS).

The Address Verification System was originally used in the case of in person purchases where merchants could verify cards because they had embedded holograms or on-card photo ids. However, this does not help with online, phone, or mail transactions. But, AVS can provide secure payment gateways by having the merchant verify credit card data, such as billing address and zip code, against the Visa®/Mastercard billing information of the cardholder. This layer of security protection allows merchants to further investigate a transaction if the billing information provided by the Address Verification System does not match that the customer provides.

It benefits the merchant to use the Address Verification System because they are fully liable for all transactions they take that are performed without the person being in front of them. So if they accept a fraudulent transaction, they experience what is known as a chargeback. A chargeback refunds the customer from the merchant’s bank account. In addition, the merchant must pay a fine to the bank and credit card associations penalize them.

By using the Address Verification System, a merchant can protect both the customer and himself from counterfeit charges. To learn more about the AVS, please visit Address Verification System.

Keywords: address verification system, address verification, chargeback, merchants, payment gateways

Online Credit Card Payment Processing

2007-03-16T12:05:00.000-06:00

For those who run any type of business over the Internet, credit card processing is key to the success of their business. Online credit card processing will enable your business to accept immediate payment through the Internet by means of a credit card. For example, if you have ever used a credit card to pay for a purchase or a service, and waited while the transaction went through, you have experienced credit card processing. In fact, what happened was that your credit card went through a processor where it was either approved or denied. There are a number of different options for credit card processing, and a company should choose the method that is best suited for their business.

Keywords: online payment processing, credit card payments, credit card transactions, credit card transactions

Mandatory PCI Compliance

2007-03-16T11:48:00.000-06:00

Your customers will feel safer from identity theft and credit card fraud when you sign up for a HackerSafe account. With VerePay payment gateway, from VirtualTrak Technologies, it's a 70% discount.

What you can expect from ScanAlert's Hacker Safe:

Increased Conversion Rate
Increased Consumer Confidence
Increased Google Ranking
Increased Security

For more information on mandatory pci compliance.

You can also call 866-872-3011. Make sure you reference VerePay for the discounts.

Keywords: increase conversion rates, verepay, website security, online store security, discount website security

Virtual Terminal Transactions

2007-03-14T23:25:00.001-06:00

Online Payment Fraud Prevention

2007-03-12T09:22:00.000-06:00

One of the most important areas that a company must protect themselves from is online payment fraud. In today’s modern era, many consumers are choosing to shop online. This has opened the doorway for businesses to accept and process credit cards in real time applications. Although this has created a doorway for business success, it has also enabled credit cards online fraud to become increasingly prevalent. In hopes of preventing fraud online, many companies are choosing to use higher security settings, encrypting credit cards, and are using strategies designed for preventing fraud online.

For more information on online payment fraud prevention.

Keywords: Consumer Fraud, fraud prevention, online payment fraud, payment fraud prevention

Protect Yourself From Card Not Present Fraud

2007-03-05T09:53:00.000-06:00

With the boom in mail order, technology and the convenience of the Internet, many consumers are making card-not-present transactions. Card not present transactions benefit both the consumer and the business owner. By offering the convenience of card not present transactions, customers are able to patron stores hundreds of miles away from their home base. Consumers can now purchase goods and services which would otherwise not be available to them. Stores benefit by having an expanded world-wide customer base and without card-not-present transactions some small businesses would not stay afloat.

The downside to card not present transactions is there are criminals who can fraudulently obtain credit card details to purchase goods and services. The ease of making card-not-present transactions means that consumers and businesses have to monitor transactions to ensure that a thief is not making an illegal purchase.

Tips Consumers Can Take To Prevent Card Not Present Fraud

Tips Businesses Can Take To Prevent Card Not Present Fraud

Keywords: Business Fraud, Card Not Present, Consumer Fraud

Common Reasons for Chargebacks:

2007-02-27T09:36:00.000-06:00

1. Requested Transaction Information Not Received.
2. Duplicate Processing
3. Fraudulent Mail/Telephone Order Transaction
4. Cardholder does not recognize – Potential Fraud
5. Fraudulent Processing of Transaction – No Signature Obtained
6. Customer disputes
7. Processing errors
8. Authorization issues
9. Nonfulfillment of copy requests (only if fraud or illegible)

For More Information on Chargebacks and Protecting yourself, visit VerePay.com.

Keywords: chargeback fraud, preventing chargeback

Frequently Asked Questions About Chargebacks.

2007-02-27T09:33:00.000-06:00

Q: Why did I receive a letter asking for a copy of a sales draft?

A: A request for a copy of a sales draft is initiated by the cardholder or by the cardholder's bank. Common reasons for these requests are that the cardholder does not recognize the transaction or may need a copy for personal business or tax records. It is imperative that you respond immediately to these requests. If your response is late, we will lose our ability to contest the chargeback.

Q: What is the name of the cardholder who requested the sales draft?

A: The cardholder issuing bank is not required to supply us with the cardholder's name. We realize that the name may make your search for a copy of the draft easier. However, the standard sales draft request information contains only the card number, dollar amount, and transaction date. Because of this, we encourage you to file your sales drafts in transaction date order.

Q: May I have a "no return or refund" policy when accepting credit cards?

A: Yes, if the return policy is clearly printed on the signed sales draft or a store receipt in close proximity to the cardholder's signature. The return policy must appear in letters at least 1/4 of an inch high on a document that is signed by the cardholder at the time of sale. This only applies if the cardholder leaves the store with the merchandise. It will not protect you on shipped or delivered goods or with quality disputes.

Keywords: chargeback fraud, preventing chargeback

Tips to Avoid Potential Chargebacks

2007-02-27T09:21:00.000-06:00

Do not complete a transaction if the authorization request was declined. Do not repeat the authorization request after receiving a decline.

If you receive a “Call” message in response to an authorization request, call your authorization center. Be prepared to answer questions. The operator may ask to speak with the cardholder. If approved, write the authorization code on the sales receipt. If declined, ask the cardholder for another card.

Make an imprint for all card-present transactions. If you have a point-of-sale terminal with a magnetic-stripe reader, swipe the card through the reader for every face-to-face transaction. If the terminal isn’t working or a card’s magnetic stripe cannot be read, key-enter the account information and make an imprint of the embossed information onto the sales receipt using a manual imprinter. Even if the transaction is authorized and the cardholder signs the receipt, if the receipt does not have an imprint of the embossed account number and expiration date, the transaction may be charged back to you for “no imprint” if the cardholder later denies participating in the transaction.

Obtain cardholder signature. The cardholder’s signature on card-present transactions is required. Failure to obtain the cardholder’s signature could result in a chargeback for “no signature” if the cardholder denies authorizing or participating in the transaction.

Ensure that incorrect sale receipts are voided and that transactions are processed only once.

If your establishment has policies regarding merchandise returns, refunds, or service cancellation, disclose these policies to the cardholder at the time of the transaction. Your policy should be pre-printed on your sales receipts; if not, write or stamp your refund/return policy information on the sales receipt near the customer signature line before the customer signs (be sure the policy shows clearly on all copies of the sales receipt). Failure to disclose such policies at the time of the transaction will be to your disadvantage should the customer return the merchandise.

If a customer requests cancellation of a recurring transaction which is billed periodically (monthly, quarterly, annually), always respond to the request and cancel the transaction immediately or as specified by the customer. As a customer service, advise the customer in writing that the service, subscription, or membership has been cancelled and state the effective date of the cancellation. Failure to respond to customer cancellation requests almost always leads to chargebacks.

Keep customers informed on the status of their transactions.

If the merchandise or service to be provided to the cardholder will be delayed, advise the cardholder in writing of the delay and the new expected delivery or service date. Do not substitute another item unless the customer agrees to accept it. By giving the customer notice and the option to cancel, you may help avoid a customer dispute regarding the merchandise and a possible chargeback.

Ship merchandise before depositing transaction. Don’t deposit transactions with your merchant bank until you have shipped the related merchandise. If customers see a transaction on their monthly card statement before they receive the merchandise, it could lead to a preventable chargeback.

For More Information on Chargeback Fraud.

Merchants Must Comply With Cardholder Data Security Requirements

2007-02-22T08:47:00.000-06:00

With the Internet playing a major role in purchases, computer hackers pose a risk. Hackers are thieves. They cause problems and they can leave merchants holding the bag to face devastating consequences -- not to mention the injury that is done to the consumer whose information is stolen.

Become PCI Compliant Today!
Free PCI Compliance from VerePay and ScanAlert.

Everyone has heard about reputable vendors who have lost their customer’s valuable credit card information. To put it simply, businesses and individuals who make credit card transactions with a merchant expect that their information will be kept private and secure from hackers and individuals on the “inside” who try to steal information for fraudulent purchases.

Visa®, MasterCard and other payment cards such as Diners Club, Discover Card and American Express recognized the need to protect their client’s information. Visa® and MasterCard were the first to create cardholder data security requirements which all merchants must come in compliance with. Diners Club, American Express and Discover Card soon followed their lead and endorsed these standards.

The cardholder data security requirements address issues that will keep credit card records and cardholder data private and secure. To keep this information safe, merchants must build and maintain a secure network, having access-control measures and implement an information security policy. Any merchant who captures, processes or stores credit card data must comply with the cardholder data security requirements.

Some of the cardholder data security requirements which must be met include:

Credit card data and cardholder data that are stored in a computer system should be protected. With the rise of card not present transactions, if a hacker knows the cardholder’s name, address and expiration date than the thief can go on a shopping spree.
A secure network should be used that has a firewall. The network and firewall should be used, maintained and updated regularly by merchants to protect credit card data.

Security should be tested regularly and anti-virus software should be maintained and updated regularly.
Transmissions across public networks should be encrypted. Encryption reduces the threat of a hacker obtaining personal information.

There should be different levels of employee access to credit cardholder data. Each employee who has access to cardholder records should have their own identification and password. Access should be limited and only given to those who “need-to-know.”
A policy should be maintained that address the security of information.

To read the full cardholder data security requirements you can visit https://sdp.mastercardintl.com/ and http://usa.visa.com/

All merchants are required to be in compliance with cardholder data security requirements. If a business is found to not comply with the standards, or if they fail to rectify a security problem, they can be fined and/or prohibited from accepting certain credit cards.

Years ago, merchant accounts were generally through banks. With the rise and popularity of the Internet, many individuals (especially small businesses) are choosing to go with third-party companies. It is important to keep in mind that fraud is the responsibility of the merchant. You should carefully scrutinize your needs and choose an effective and reputable merchant account.

Keywords: free pci compliance, scanalert, verepay, website security

What is a Virtual Terminal?

2007-02-16T10:37:00.000-06:00

In today’s society, companies are choosing to conduct business transactions online. This has increased a number of concerns regarding security issues. With the increase of merchant payments online, companies need software that will insure that credit card processes are conducted with the highest degree of security. This is where virtual terminal transactions come in to play. Virtual Terminal transactions allow users to complete computer transactions processing credit cards over the Internet as opposed to using separate stand-alone applications. There are many benefits to using Virtual Terminal transactions. The first benefit is convenience. For companies that conduct merchant payments online, using virtual terminal transactions will enable you to check and process credit card transactions anywhere that you have computer and Internet access.

There are many benefits for using virtual terminal transactions to handle merchant payments online. For instance, convenience is the first benefit. You can save time by checking and verifying credit card payments from any computer with Internet access and a web browser from any location, 24 hours a day. Small businesses will appreciate the cost effectiveness of using virtual terminals. You can immediately check and approve any merchant payments online, and you will discover that virtual terminals are quick, easy, and an efficient solution to handling your financial business needs.

Virtual terminals are also an effective tool for handling and dealing with credit card fraud and charge backs. Charge backs occur when someone purchases something on their credit card, then later disputes the credit card transaction. Various credit card companies have their own set limits as to how many charge backs a company may incur, however recognizing the potential for charge backs can help prevent any permanent results from having too many. With virtual terminals, you can recognize some signs of potential charge backs and take steps to ensure that you will prevent these transactions from completing.

For more information visit Virtual Terminals.

OsCommerce - Free Open Source eCommerce Solution

2007-02-15T17:03:00.000-06:00

There are many people that work on this software, since it is a free open source software, and this allows for many people to share the knowledge they have and to exchange ideas to help make it better. Some people work with osCommerce as a software hobby, while others work on it to help make a software that meets the requirements of their own online marketing needs. All of these people come together to make osCommerce an online shopping cart that offers a variety of choices to those who use it. If you are looking for a free open source that offers the ecommerce solutions you need for your online store, then osCommerce is a great free way to help run your online store.

For More Information on osCommerce Free Open Source eCommerce Solutions.

UltraCart - Premier Hosted Shopping Cart Solution

2007-02-15T16:59:00.000-06:00

UltraCart also makes it easy for online merchants to find the best credit card processing company since they support many credit card gateways. This enables merchants to find the processing company that offers the best deal and the features they need. The UltraCart premier shopping cart system is also easy to integrate into your existing website, since there is no software that you have to install yourself. You can choose the way your checkout looks, but all without the headache of installing software on your own server. UltraCart makes e-commerce easy for online merchants.

For More Information on UltraCart Hosted Shopping Cart Solutions.

KwikCart - A Revolutionary eCommerce Business Tool

2007-02-15T16:45:00.000-06:00

No matter if you are involved in sales among businesses, or if you sell to clients, you can find a KwikCart package that can be made to fit the needs of your company. KwikCart ecommerce business tools are easily customized to fit the needs of your online store. If you are unsure about how this system will work for you, you can actually set up a time to walk through the features the site has to offers. E-commerce is big business, and big business needs a great solution to provide the tools that lead to success, and KwikCart has the tools you need.

For More Information on KwikCart Shopping Cart Solutions.

StoreFront - Shopping Cart Software

2007-02-15T16:43:00.000-06:00

StoreFront works as a plug-in for Microsoft FrontPage and Macromedia Dreamweaver, and allows business to easily customize their websites. There are many benefits that StoreFront offers as well, such as an affiliate program that is already built in, and commissions are easily set up. You can also use the discount and coupon features that are available with StoreFront shopping cart software. StoreFront even comes with the tools to help you manage your website, and also keeps your website secure. If you are already working with FrontPage or Dreamweaver, then StoreFront is a great shopping cart software to choose for your online store.

For More Information on StoreFront Shopping Cart Software.

Sell Online with Yahoo! Stores Merchant Solutions

2007-02-15T14:55:00.000-06:00

YAHOO! Stores offers a variety of tools to help you build your site, and there are many ways that you can customize your web site to your needs. You can even have a professional design your site and help you build your online store. YAHOO! also helps you to build pages that are easily found by a search engine. YAHOO! Shopping Carts are also available for you to use on your online store. You can decide whether you want to have your checkout on one page, or several pages, and the page layout is customizable as well. YAHOO! Shopping Carts also allow your customers to save the contents of the cart for as long as two weeks.

For More Information on Yahoo! Stores and Shopping Carts.

ZenCart Shopping Carts - The Art of E-Commerce

2007-02-15T14:45:00.000-06:00

ZenCart offers enhanced security to merchants as well. You can use it to make your website more secure, and when it is installed you can choose a username and password to help keep it secure. There are even a variety of customer relationship tools that are available to help you improve your e-commerce, including gift certificate programs and referral programs. You can even set up this system to send confirmations by email.

What does a virtual terminal do?

2007-02-14T16:14:00.000-06:00

VIRTUAL TERMINAL maintains the history of these payments, batch reports, declined cards, statements, and the “profile” administration list for easy access and management.

One time payments may also be made with all 3 of these options.

Authorization codes are sent to the merchant. Deposits are made to the merchant’s bank account in the normal 24 to 48 hour time frame.

Costs to process payments through recurring billing services?

2007-02-14T16:10:00.000-06:00

The regular merchant processing rates apply.
The discount range 2.25 to 2.75 + 30 ¢ per transaction.

EXAMPLE:

$385 monthly payment x 200 participants = $77,000 recurring payment monthly.
$385 x 0.0225 +30 ¢ [discount rate+transaction fee] = $8.97 x 200 = $1794 monthly discount fee.

The processing fees may be taken as a business expense at the end of the tax year.

What happens when a card is declined authorization?

2007-02-14T16:07:00.000-06:00

The merchant may wait a period of time, such as 24 hours, and select the declined card for re-submission for authorization. Should card receive a decline again, the merchant can request another form of electronic payment a different bankcard or debit card or proceed with their normal collection / late payment procedure.

Keywords: Authorizations Declined, Credit Card Authorization, Declined Credit Cards

Recurring Billing Services Equipment and Cost

2007-02-14T16:03:00.000-06:00

There are two choices for equipment.

Installation of the processing software in an existing computer . The computer becomes the terminal and uses the modem to connect for the card authorization. COST is $39.95/mo. x 36 mos. leased, or $499.00 retail purchase.
Installation of a Virtual Terminal on a computer with an ISP [Internet Service Provider]. The ISP needs to be one other than aol.com. The transactions are done on a secured internet payment link. COST is $399.00 set up fee and a $15.00 monthly network access fee.

Keywords: recurring billing, virtual terminal

One Time Payments on Recurring Billing Systems

2007-02-14T15:54:00.000-06:00

Yes! The computer accepts the swiped card and processes the transaction the same as a stand-alone terminal on a counter top. It requires a “card reader” – the gizmo that accepts the card swipe. COST range is $29.95/mo. to $49.95/mo. X 48 mos. leased. Retail purchase range is $399.00 to $800.00.

Keywords: card swipe, transaction processes, stand alone terminals, card reader, retail credit card transactions, recurring billing services, recurring payment services