Archives / 2010 / March
  • Credit Scoring, not just for banks

    Financial institutions use technology and credit scoring strategies to manage lending activity. Now businesses lending to their customers by extending trade credit are learning the value of adopting credit monitoring solutions as an integral part of account receivable best practices.

    The credit health of customers is top of mind for many CFOs today. Slow pays, delinquencies and credit losses have a major impact on companies of all sizes but are particularly harmful to small businesses that, in the past, have not had affordable credit scoring and monitoring solutions available.

    As businesses emerge from the recession and sales pick up, the best practice is to determine those buyers with a higher probability of payment before extending credit. Like banks, businesses need processes in … more

  • Which is better for Mobile merchants? Touch Tone vs. iPhone

    We are often asked to suggest processing solutions for mobile merchants. Recently more and more of those conversations are focused on payment applications for the iPhone. Much of the buzz can be attributed to VeriFone’s recently launched PAYware Mobile iPhone application; the first payment app with a card reader available for the iPhone clearly distinguishes it from all others.

    In our experience, we have found accepting card payments on a smart phone to work best in a sales environment where a single user will operate the device, one customer at a time. And the PAYware Mobile solution has received positive client feedback from our early adopters. The thing about early adopters is that they want the latest technology regardless. But for others, they want to analyze their options. … more

  • Payment security compliance deadlines and revisions announced

    Merchants should be aware of the pending payment industry deadline of July 1, 2010 related to the Payment Application Data Security Standards (PA-DSS).

    Effective July 1, 2010, acquirers must ensure that merchants only use PA-DSS compliant applications.

    What does this mean to merchants?  If you are using old payment devices or software, you may need to upgrade.  Merchants using point of sale register systems should inquire with their point of sale vendor about their compliance status if they have not already done so. Merchants should also review the information posted on the PCI Security Standards Council website at or on the Visa website at

    PA- … more

  • New Merchant Services to lower costs and earn rewards

    Merchant Rates, where ALL merchants large and small can get an Interchange rate price structure to lower their costs, has been redesigned with a new look for 2010. has also added new content. In addition to providing an instant, detailed merchant interchange rate quote calculator and guide, has created a Frequently Asked Questions resource, covering topics including:

    Merchant Interchange Q&A

    Merchant Rates Quote Q&A

    Payment Technology Q&A

    General Merchant Account Q&A

    Card Payment Rules Q&A


    Vantage Points Rewards, a client loyalty rewards and corporate giving program where a portion of the value of each award is donated to the Food Bank, has also been redesigned.

    If you are not earning rewards processing … more

  • From Imaged to Paperless Checks

    Paper checks don’t remain as paper very long. In today’s digital age, they are quickly imaged so they can be electronically cleared and settled.

    Converting paper to digital images became law in 2003 with the passage of the Check Clearing for the 21st Century Act (Check21) and the initial implementation meant large companies and banks didn’t have to ship paper all around the country.

    Today, more and more of the paper check imaging is being done by merchants and businesses that accept them. Community banks led the way in deploying remote-deposit check scanners as a way to offset the competitive advantage mega banks had with their branch network. By scanning and electronically depositing check images, community banks were able to attract business customers and businesses … more

by Ty Hardison

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