PIN Debit Punishment Pushed Back
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
Contents tagged with Vantage Card
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More Intelligent Merchant Rates
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
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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
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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 http://vantagecard.com/paycard) 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
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Go Green With Your Pay
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
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Restaurant Trends: Make your restaurant online order capable
% 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
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Prepaid Visa Payroll Cards Replace Expensive Paper Checks
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.
CARD BENEFITS
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
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Tabs, Tips and Chargebacks -- Best Practices for Restaurants, Bars and Night Clubs
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
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Merchants Go with Prepaid Wireless
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
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Card Number Truncation on Merchant Receipts
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