Contents tagged with Vantage Card

  • PIN Debit Punishment Pushed Back

    Visa and MasterCard set a mandate effective July 1, 2010 to ensure that all installed PIN pads are using the most up to date triple data encryption standard (3DES) for processing PIN debit transactions.  In an effort to enforce this mandate, fines were slated to be imposed on those deemed out of compliance.  While technically, the July 2010 deadline is still in place, the threat of punishment has been pushed back.  The new policy isn’t threatening fines until Aug. 1, 2012, however Vantage will continue working with our clients to ensure compliance by July 2010.

    The most interesting part of the article as reported on StorefrontBacktalk was that several of the nation's largest chains were threatening to abruptly cut off PIN debit at the deadline, possibly switching to … more

  • More Intelligent Merchant Rates

    As a merchant, do you feel the fees you pay for accepting card payments are too high?  I’ve not talked to anyone in business who thinks they aren’t paying enough for merchant services.  If you’ve been following the Interchange debate, you realize the Interchange fee paid back to the issuing bank is the target of reform.  And while Interchange reform is a healthy debate, for most businesses, it’s beside the point.  They don’t get Interchange pricing.

    Most small and mid sized businesses don’t pay Interchange pricing, they pay discount rates and service fees set by their service provider, processor or bank.  The most common pricing structures are based on formulas, bundles, tiers and definitions invented by their payment … more

  • Establishing Payment Acceptance Policies

    Does your business have policies in place for each of payment method you accept? Payment policies are critical in protecting the financial health of a business. Small businesses without payment acceptance policies are vulnerable to fraud.

    We strongly advise that the best practice before accepting any form of payment is to know your customer.  Be mindful, watch for any red flags and take action to delay delivery until you gain a comfort level with the validity of your customer and their payment method.

    It is especially important for merchants to understand that card payments are a convenience form of payment, not a guaranteed form of payment. Since the rules and regulations are written in favor of the cardholder, merchants must be diligent in protecting their business against … more

  • Not all Prepaid Debit Cards are alike

    Recently I’ve seen a few stories like this one in the New York Times: Prepaid, but Not Prepared for Debit Card Fees. In the article, author Andrew Martin explores the numerous fees many card companies are charging their customers. The moral of this story from my perspective is that it pays to shop around. Not all prepaid debit cards are alike.

    Avoid buying a prepaid debit card. We advise consumers wanting a prepaid debit card to get a payroll debit card instead. Consumers can get a payroll debit card from their employer or sign up directly with a payroll card provider (for example online at and then simply provide the card’s routing number and account number to their employer for direct deposit.

    Payroll cards have lower costs than prepaid … more

  • Go Green With Your Pay

    The American Payroll Association is part of an initiative to eliminate the use of paper paychecks nationwide. Currently, employers can go paperless in about 20 states. We’re tackling the rest state by state, and we need help from employers! We’re posting sample letters pre-addressed to the state officials in those states that currently keep employers from enjoying a paperless payroll. If you are an employer, please download a copy of the letter, personalize it, and send it on company letterhead.

    The focus of the request is to allow employers to mandate direct deposit. Where employees do not provide their bank account information, employers should be able to provide paycards instead of paychecks.

    Please join the effort!  Sample letters can be downloaded from the “ … more

  • Restaurant Trends: Make your restaurant online order capable

    According to the September 2009 Technomic American Express Market Brief, consumers of all ages have already embraced online ordering. Their research shows online ordering from a computer has become quite popular.

    % of Consumers who have Ordered Online:

    54% of 18-20 year olds46% of 21-2450% of 25-3444% of 35-4423% of 45-5430% of 55-6429% of 65-747% of 75+

    Incentives were found to be effective in luring customers to online ordering. Nearly 58% who have ordered food online note they have done so in response to an offer they saw on a website, while 37% have been influenced by an offer received in an email.

    For those who have ordered online from a computer, seven of 10 (70%) report that their most recent order placed was a repeat order.

    Bottom Line: If you have a web site … more

  • Prepaid Visa Payroll Cards Replace Expensive Paper Checks

    PlatinumPay Thousands of employers currently offer Visa payroll cards to employees and for companies looking to go green, streamline payroll operations and lower costs, paycards are only gaining in popularity. The Visa paycard is designed as a financial tool; providing employees a way to participate in their company’s direct deposit program. U.S. employers are realizing significant savings while helping their employees avoid the escalating costs associated with check cashing fees and delays in receiving their checks via mail or pick-up.


    The benefits of direct deposit have been well documented for years. Payroll professionals all tend to agree that increasing direct deposit and reducing, or even better, eliminating the antiquated paper check creates a positive impact to employer … more

  • Tabs, Tips and Chargebacks -- Best Practices for Restaurants, Bars and Night Clubs

    A common problem in F&B industry is dealing with payment card issues related to running tabs and adjusting tips. Recent developments require F&B establishments (F&B) to evaluate their current procedures.

    New Fees Two new card company fees (effective October 2009) to consider:

    Misuse of Authorization System fee -- a merchant obtains an approval code and doesn't use it. Visa will assess a $0.045 per occurrence.  

    Zero Floor Limit Fee -- a merchant settles a transaction without a valid approval code (invents an approval code, approval code typo), Visa will assess a $0.10 per occurrence.

    With these new fees, F&B will need to research how their POS systems operate and how their merchant provider bills. Issues to be addressed include any pre-authorization strategies, … more

  • Merchants Go with Prepaid Wireless

    GPRS prepaid wireless plans are becoming popular alternatives for merchants using fixed wireless (wireless terminals that require a power outlet). With SIM chips costing less than $10 and one-time activation less than $6, GPRS prepaid plans feature no contracts, no gateway fees, no transaction fees and no overage fees. Prepaid wireless plans range from a 12 MB plan (approximately 1,440 transactions a year for less than $100/year) to a 120 MB plan (providing approximately 19,200 transactions a year for just over $200/year).

    Prepaid GPRS SIMs will work with Verifone’s Vx terminal lines. Using the exact same GPRS network, prepaid plans are more flexible and less expensive than traditional wireless coverage plans. Prepaid wireless plans are good for one-year or up to the MB plan … more

  • Card Number Truncation on Merchant Receipts

    Update: March 2011

    There are federal laws, various state laws and association rules which require merchants to truncate the cardholder copy of receipts.   It is the merchant's responsibility to comply with applicable laws and regulations regarding truncation.  Please check your POS and terminal receipts to insure you are in compliance.

    Seven (7) states have passed legislation that requires merchants to truncate both cardholder and merchant receipts.  The states are:

    New Mexico - as of 01/01/2004

    Wisconsin - as of 08/01/2005

    Colorado - as of 01/01/2006

    Tennessee - as of 01/01/2007

    California - as of 01/01/2009

    Alaska - as of 07/01/2009

    Nevada - as of 07/01/2009

    Washington State - as of 07/26/2009

    Additional states have legislation in progress which may … more