Archives / 2009 / August
  • 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

  • The Complete B2B Payment Solution Seminar

    Vantage will be conducting an in-depth training seminar for its Payment Analysts in San Jose, CA on August 28th. The focus of this seminar will be to provide insight into business-to-business (B2B) and business-to-government (B2G) industries and payment methods including Level 3 merchant services and trade credit outsourcing. Targeted B2B payment solutions represent a relatively untapped market and presents opportunities for merchant level sales professionals to take the next step in their payment industry career by focusing on B2B transactions as a business payment consultant.

    Level 3 Merchant Services topics will include:

    The commercial card market for business, corporate, purchasing and GSA p-cards

    What is a Level 3 Merchant Account and what are the requirements

    An in-depth look … more

  • Don't Be Afraid of Accounts Receivable

    Many small and midsize businesses (SMB) we consult with are afraid of implementing policies and procedures to better manage their accounts receivable (A/R) because they are scared of losing customers. The thought is that if they enforce the credit terms established during contract negotiations that their buyers will simply find someone else to do the job.

    Are you scared of your customers? Is this fear preventing you from achieving A/R best practices? Don’t be afraid of making sure your customers pay you on time. The strength of your A/R processes sets the tone of your ongoing working relationship. If you allow buyers to explore how far they can push their payables and get away with it then what are you teaching your customers? Are you broadcasting that you are not good at managing … more

by Ty Hardison

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