All posts by Abtek

Abtek is a state-of-the-art Credit Card Processing and Merchant Account Solutions provider. As credit card experts, we enable businesses big and small to accept and process credit cards, as well as delivering customized processing solutions to fit your evolving business needs.

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Breaking News

Get Your EMV Questions Answered at Our Upcoming Seminar!

June 26, 2015 Abtek Leave a comment

Please join us Tuesday, June 30, 2015 at Milford Presbyterian Church to learn how the October 1^st EMV compliance deadline will affect businesses and consumers. Hosted in partnership with the Huron Valley State Bank, the seminar will cover:

What is required of business owners to meet the compliance deadline
How the changes in EMV technology will affect consumers
The benefits of the new system

Tami Cohorst, VP of Abtek and known leader in the credit card processing world will lead the discussion. Tami’s in-depth EMV knowledge enables her to help merchants grow their businesses through education and new technology. Media outlets like Entrepreneur and MLive have turned to Tami to for her ability to educate business owners on the importance of updating their payment processing systems. She is always on the lookout for new technologies in an effort to stay ahead of the game when it comes to industry ideas, thoughts and products.

Event Details

What: EMV Technology Seminar Hosted by HVSB and Abtek

When: 9:00-9:45 a.m., Tuesday, June 30 2015. Doors open at 8:30 a.m.

Where: Milford Presbyterian Church, 238 North Main, Milford

Who: Free to the community and invited guests

For questions, please call (248) 922-6987 or email smiles@hvsb.com.

Hope to see you there!

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Mobile Wallets

How Can Merchants Leverage Mobile Wallets for Marketing?

June 19, 2015 Abtek Leave a comment

With Apple Pay and similar technology becoming the norm and customers warming up to mobile wallets in droves– approximately 28 percent of smartphone users made a mobile payment last year–many merchants may need to think deeper about how mobile wallets can double as marketing strategy.

The most obvious reason why merchants offer mobile loyalty programs is to give customers incentives to return their businesses. But there are a number of other perks, including:

Customer retention is always good for boosting the bottom line, but studies have shown that a mobile loyalty program can also boost extra sales among loyalty customers. Kohl’s loyalty customers, for example, average two additional trips to the store and spend $80 more than non-loyalty customers over the course of a year. Plus, mobile loyalty programs require less operational management than a paper-based program, which will ultimately lead to reduced operational costs.

Stand Out From the Crowd

Loyalty programs are an excellent way to differentiate yourself—and having a mobile loyalty program gives you an even bigger edge in the marketplace. Consider what your competitors are doing for their loyalty programs and figure out a way to make yours even better!

VIP Treatment

Consumers want their experiences to be enjoyable and they want to feel as though they’re valued. Loyalty programs help to make both of these criteria possible. They open the door for more communication between the retailers and the customers during checkout. Loyalty programs also give loyal customers rewards for their patronage, making them feel appreciated.

So, What’s Next?

The next step in mobile loyalty programs, according to experts, will be to integrate them with leading mobile wallet providers. Up until this point, consumers have been forced to use mobile loyalty programs within each store’s individual apps. In the near future, we can expect to see these wallets begin to not only implement store loyalty programs, but ultimately become a platform for integrated, real-time marketing.

Stay updated on payment processing trends by following Abtek on Twitter and Facebook. Sign up to receive our newsletter, too.

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Tips

The People Want Plastic

June 5, 2015 Abtek Leave a comment

Gone are the days when “cash-only” was a good business plan. In this day and age, plastic is the payment option of choice. And where there’s plastic, there’s a need for a payment processing system.

Today’s business market is so diverse. Just take a look around; there are quirky startups popping up left and right, ecommerce stores opening their digital doors, and long-standing brick-and-mortar businesses keeping up with the times. With such diversity, how do you know which payment processing solution is right for your business?

Unique Solutions for Unique Businesses

It’s important for business owners to understand all of their options before choosing an electronic payment system in order to select the best one for their company. Here, we’ve outlined some of the tried-and-true electronic payment systems for a variety of types of businesses that can take you in and through the next digital wave.

If you own a small, in-person business, you may want to consider utilizing mobile payment solutions. These can come in a number of different forms including credit card attachments that connect with your smartphone, mobile terminals and tablet systems. Mobile payment solutions give the cashiers the ability to move freely about the store, interact with customers and conveniently check people out on the spot. Apple, for example, uses mobile payment solutions in its stores. At the end of the day, business owners can simply take the mobile devices home to manage the books and run reports.
Larger brick-and-mortar businesses, like grocery stores and more traditional companies, may need more robust, countertop POS terminals. There are a number of different POS terminals available, but the most important thing to know when selecting one is to make sure that it’s EMV card-compliant. Countertop terminals should be easy for customers to use and help to make the transaction process run quickly and efficiently. Newer models feature contactless NFC technology, which allows customers with mobile wallets to make payments with a simple tap of their smartphone!
Online-only businesses will need to implement digital shopping carts with secure payment gateways. There’s a long list of payment gateways available to fit different online business’s unique needs. When selecting an online payment gateway, it’s critical to choose one with strong security features. The last thing you want to deal with is a data breach!

Making the Upgrade

All of these types of businesses have unique payment processing needs, but they all have one thing in common: The need to process credit cards. If you’re not sure what type of payment system is right for your business, give Abtek a call today at (800) 544-9145. Our team of experts is here to help you navigate through the complex world of credit card processing.

Stay updated on payment processing trends by following Abtek on Twitter and Facebook. Sign up to receive our newsletter, too.

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Chargebacks

How to Minimize “Friendly Fraud” Chargebacks

June 1, 2015 Abtek Leave a comment

With the EMV Mandate, data breaches, and POS innovations, merchants have enough to worry about when it comes to how they handle the way their customers pay. Which is why one particular strain of chargebacks is especially a huge nuisance.

Know the Facts

Did you know that “friendly fraud” chargebacks are commonplace now? The name is a misnomer, though–”friendly fraud” happens when a customer purchastes goods online and then disputes those charges with his credit card provider, claiming the goods were never delivered. A recent study found that 86% of chargebacks are deliberate; and Visa estimates that in 2012, merchants lost $11.8 billion due to friendly fraud. Many merchants can head this off by having accessible customer service reps.

But what else can businesses do to curb losses due to these kinds of chargebacks?

Verify

Ask for security codes. These are the numbers that are located on the back of a credit card. Since merchants can’t store security codes, hackers can’t steal them.

Ask for Proof

Ask customers to electronically sign for their purchases. When you have the signature of a customer that proves the product was successfully delivered, it undermines any claim they may make that the product wasn’t delivered.

Chargebacks are messy. If you don’t deal with them in a short window of time, you could be forced to pay fees and penalties that could have been avoided entirely. It’s always a good idea to have a merchant services company on your side–especially one that hears you out and provides reliable customer service.

Here at Abtek, we fight friendly fraud chargebacks on your behalf, not only saving you the headache of dealing with them, but also potentially saving you a lot of money. Give us a call today at (800) 544-9145 to find out how we can help you prevent unfriendly chargebacks at your business.

Stay updated on payment processing trends by following Abtek on Twitter and Facebook. Sign up to receive our newsletter, too.

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Data Breach, Merchant Service Providers

Merchants are at Risk, Too! Here’s How to Keep your Data Safe Online

May 28, 2015 Abtek Leave a comment

We always stress the importance of having secure payment processing solutions so that you can ensure a positive shopping experience for your customers. But don’t forget: You and your business are consumers, too! It’s important for you to be aware that other businesses’ online platforms might not be as secure as yours. When your data is put into the wrong hands, you could be in for a lot of trouble (i.e. identity theft, stolen credit card information, computer hacks, etc.)

The solution? Good habits help merchants safeguard their sensitive business data online. Below, we’ve put together some of the most effective ways to ensure your online data is safe:

1. Choose a Secure Password

Once upon a time it was acceptable to create a singular password for all online accounts. Your password could even be as simple as your business name! But those days are now far behind us. Today’s hackers are smart and the less secure (complex) your password, the easier it is for them to access your data. The best way to keep your data safe is to choose a unique password for each online account. Your passwords should include a mix of upper and lower case letters, numbers and special characters, if allowed. To make it easy, you can use a password generator, like this one by Norton. Keep in mind: High profile businesses should change their passwords several times a year, according to Credit.com.

2. Keep Your Email from Getting Hacked

When your business email gets hacked, you can do some serious damage. You might not even know it was hacked until a client asks you why you sent that “super weird video.” Awkward! An email hack can happen to the best of us, but there are steps you can take to prevent it. First, take our advice and change that password! The more secure the better. While you’re on the settings page in your email, see if there’s an option to implement two-step authentication. This links your email account with your phone number, so anytime you (or a hacker!) logs into an “unrecognized” device, you’ll receive a code on your phone to enter on the device in question. Also remember to be smart when opening email, if a message looks iffy, just don’t click on it!

3. Shop Safely Online

First things first when shopping online: Do not ever enter your credit card information on a website if it doesn’t have SSL encryption installed. How can you know if it’s secure? Take a look at the URL—instead of starting with “http://”, it should start with “https://”. Also look for a little lock icon in the URL box. A website with SSL encrypts sensitive information so that only the intended recipient can understand it. In general, go with your gut feeling when shopping online. If a website just doesn’t feel right, find another one that you trust!

4. Use the Internet for Banking

Online banking is just so convenient, it’s no surprise that more than 51% of U.S. adults use it. To ensure that your online accounts are as secure as a bank vault, you’ll want to follow some of the tips above, like creating a strong password and enabling two-step verification. On top of that, you’ll want to be sure to always keep your computer software up-to-date and always log out when you’re done.

Today, using the internet to do business is simply part of doing business! Just be sure to use it smartly and you’ll be good to go!

Stay updated on payment processing trends by following Abtek on Twitter and Facebook. Sign up to receive our newsletter, too.

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EMV® Cards, Merchant Service Providers, Mobile Wallets, PCI Compliance, Tokenization

Cheat Sheet: A Quick Reference Guide to Payment Processing Buzzwords

May 22, 2015 Abtek Leave a comment

Payment security is at an all time low and as a result, the payment industry is in process of getting a much-needed overhaul. With this rapid implementation of new rules, processes and technology, there are a lot of payment processing buzzwords that have recently entered into the industry vernacular.

As a business owner, you’re busy with your day-to-day operations, so keeping up on the latest payment processing news and trends is probably not at the top of your priority list. However, as these changes could eventually impact your business, it’s never been more important for you to be in the know.

To help you stay updated, we’ve compiled the following glossary of industry buzzwords for your quick reference.

EMV / Chip-and-Pin

EMV is the future of credit card processing, although it’s not exactly so futuristic anymore. If you’re not already aware of the EMV payment revolution happening in the United States, you can read up on the basics here. In a nutshell, over the course of the next few months, banks will begin to roll out new credit cards in an effort to phase out insecure magnetic stripe technology. These cards will be embedded with microprocessor chips that will allow for more secure transactions. But the benefits of these “EMV” or “chip-and-pin” cards won’t come to fruition unless business owners take action now and update their payment terminals.

PCI Compliance

PCI compliance is a term often shrouded in myths and misconceptions, but it isn’t all that confusing once you break it down. PCI is a set of 12 requirements that all merchants, no matter the size or industry, must meet to ensure a secure environment for credit card transactions. If you’re not sure what’s required of your business in order to establish compliance, you’ll want to check in with your merchant services provider or visit the Security Standards Council website.

NFC

Near field communication (NFC) is the technology that enables wireless data transfers between two devices in close proximity, without the need for an internet connection. Think of it like modern-day Bluetooth. Today’s smartphones are embedded with NFC technology to allow for consumers to make payments directly from their phones by simply tapping or waving their devices over an NFC terminal.

Apple Pay

Apple Pay is a mobile application that is sweeping the nation. Essentially, the application allows consumers to transform their phones into mobile wallets by syncing credit card information from their iTunes accounts. Consumers can simply wave or tap their phones over an NFC terminal (currently available at numerous retailers across the globe) to make a purchase.

Tokenization

When a credit card is swiped through a terminal set up for tokenization, the card’s Primary Account Number (PAN) is automatically substituted with a randomly generated sequence, called a token. Merchants can use this token to handle refunds, returns and manage other transaction details. The benefit? Tokenization takes sensitive payment card data out of the picture for merchants, eliminating the need to store the data on their networks and the risk of a data breach.

Stay updated on payment processing trends by following Abtek on Twitter and Facebook. Sign up to receive our newsletter, too.

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Data Breach, EMV® Cards, Merchant Service Providers, Tips

5 Signs It’s Time to Upgrade Your POS System

May 15, 2015 Abtek Leave a comment

An outdated point-of-sale (POS) system may not only be holding your business back, but endangering your customers as well. Many retailers, however, are reluctant to upgrade their payment processing systems and terminals because of the resources (i.e. money, time) required to do so.

“Every two to three years a big change emerges in retailing. Every four years in-store processes change. But retailers only change their POS every seven to 10 years. POS has become a big problem retailers need to solve,” said Leo Suarez of Toshiba Global Commerce.

While it’s easy to simply stick with the familiar, failing to switch to new POS technology can have serious consequences such as slower transactions, lack of usability and lost profits. In addition, if your POS system is behind the times, it’s very likely that you are putting your customer’s data at risk.

No business owner wants to spend unnecessary time or money, so how do you know when you really need to upgrade your business’s POS system? Here are the top five signs that indicate it’s time for an update:

1. It’s Not EMV-Compliant

By now you’ve probably heard about the rapidly approaching EMV liability shift. If your business isn’t equipped EMV-compliant POS systems by October 1, you will be liable for out-of-pocket coverage of losses due to fraudulent transactions. It’s critical for your business to update its POS system before the liability shift to ensure that you’re safe from these new costly consequences.

2. It’s Not Customer-Friendly

Today’s shoppers are very tech-savvy and many don’t need any guidance on how to use POS systems. But, when your terminals aren’t functioning properly or aren’t integrated with a user-friendly software program, your customers will get easily frustrated–and unhappy customers are bad for business.

3. It’s a Standalone System

If your business has a standalone POS system, it’s probably perpetually outdated. Since this type of POS requires time-consuming manual software and hardware upgrades, it is extremely easy for business owners to let the technology slide. And once the technology gets so far behind, the cost to upgrade increases exponentially. An integrated solution, on the other hand, allows for software updates to be pushed through automatically, without requiring new hardware or much effort on the business’s end.

4. Its Quirks are Just Getting Out of Hand

Sick and tired of that coupon button not working? Fed up with your POS system’s tendency to shut of in the middle of a transaction? Save yourself the headache of dealing with these little “quirks” and invest in a new system–you’ll be amazed by how less stressed you feel, and how much time you’ll save!

5. It Doesn’t Align with Your Needs

Businesses are continually evolving, so your POS system should be flexible in order to meet your changing needs. Since your business will likely need to update your POS system due to the EMV liability shift, take this opportunity to pick out a system that will accommodate your needs several years down the road.

If your business is experiencing any of the above signs, it’s time for you to upgrade your POS system. Embrace the change! If you aren’t sure where to start, give us a call–we’re more than happy to help walk you through your POS system options and help you understand the updating process.

Stay updated on payment processing trends by following Abtek on Twitter and Facebook. Sign up to receive our newsletter, too.

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Chargebacks, Merchant Service Providers

Trying to Grow Your Small Business? Merchant Service Providers Can Help

May 7, 2015 Abtek Leave a comment

Today, the ability to process credit cards is essential for the success of any business, regardless of size. According to a Javelin study, approximately 66% of all in-store purchases are made with credit or debit cards–and that percentage is only expected to grow as more and more people move towards EMV and mobile payment solutions.

For so long, small businesses have been plagued with not being able to afford the charges associated with accepting credit cards, but today, there’s really no way around it. And while it may be tempting for small businesses to try to save a few bucks by not using a merchant service provider (MSP), it could end up costing you much more in chargebacks (and headaches!) in the long run.

Here’s a look at why your small business may benefit from utilizing the services provided by a MSP.

Does Your Business Really Need Merchant Services?

MSPs provide value added services, so businesses are not technically required to work with one. However, the benefits of working with an MSP often outweigh the costs. A few of the major advantages include:

Keeping You Connected – Merchants can’t legally have a “direct” relationship with providers like Visa or MasterCard. That’s where MSPs come in handy. They help businesses stay connected with the credit card associations and help to keep communication flowing.
Your Advocate Against Chargebacks – Most small businesses have to deal with chargebacks at some point or another, which can cause a lot of stress and lost profits. In the event of a chargeback, it’s critical for the business to react quickly. MSPs actively monitor account activity so that no wrongful chargebacks or errors slip through the cracks.
Providing the Support You Need – Let’s be honest: Credit card processing can be really confusing. MSPs provide your business with the expertise and resources you need to navigate through the complex world of changing compliance rules and new technology.

Don’t Settle for Less: How to Select a Provider

MSPs come in all shapes and sizes, so it’s important for your business to select one that’s a good fit for your business. Here are a few things to consider:

Longevity – Over the years, MSPs have gotten a bad rap for being rather “slimy,” but they’re not all bad guys. One of the best ways to be sure you’re working with a reputable company is to take a look at how long they’ve been in business. Frequent “restructuring” isn’t a good sign in this business.
Accessibility – The only time you’ll probably need to call your MSP is when you run into a problem that needs to be fixed ASAP. A great MSP will have 24/7 live customer service available to walk you through the most frustrating credit card processing challenges.
Top-of-the-Line Technology – In today’s super speed world, you’re going to want to work with an MSP that stays up-to-date on the latest payment processing technologies, especially with the EMV transition around the corner.

At the end of the day, merchant services providers can make credit card processing a whole lot easier for small businesses. They’re able to save you money by proactively managing chargebacks and fees, and keep the lines of communication open between the credit card companies and the businesses. As your small business grows and your credit card processing needs expand, an MSP can be there every step of the way to ensure a stress-free payment experience for you and your customers.

Stay updated on payment processing trends by following Abtek on Twitter and Facebook. Sign up to receive our newsletter, too.

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Merchant Service Providers, PCI Compliance

Four Common Misconceptions About PCI Compliance

April 29, 2015 Abtek Leave a comment

The cost of not maintaining PCI DDS compliance can be huge, especially when it comes to data breaches and fraud. Unfortunately, many merchants don’t fully understand everything involved with PCI compliance, so card security breaches will continue to occur.

According to a survey conducted by Proficio, 23% of respondents did not even know if their businesses met the most recent set of standards, PCI DDS 3.0, which was released at the beginning of this year.

It’s important for every merchant to understand what PCI DDS means, so that they can take the necessary steps toward ensuring payment security. While it’s not a foolproof solution, it can significantly help to deter data breaches and potential fraud.

Deciphering the Alphabet Soup (PCI DDS)

The Payment Card Industry Data Security Standard (PCI DDS, called PCI for short) is a set of 12 requirements that merchants must meet to ensure a secure environment for credit card transactions. The requirements were put in place by the Security Standards Council, comprised of the five major credit card companies: American Express, Discover, JCB, MasterCard and Visa.

PCI Myths Busted!

There are many misconceptions surrounding PCI. Here, we reveal four of the major myths and the reality behind each of them.

Myth #1 – I own a small business; only large companies and e-commerce websites need to be PCI compliant.

False! Every organization or merchant that accepts credit card transactions must be compliant. The size of the company doesn’t matter, nor does the number of credit card transactions. There are, however, different levels that businesses can fall into, as defined by the major credit card brands. Businesses must determine which level they fall into for each brand and complete the correlated compliance verification requirements.

Myth #2 – Once my business is PCI compliant, I never have to worry about it again.

Many merchants don’t realize that compliance is an ongoing process, not a one-time deal. As a business owner, you (or your merchant services provider) will need to be in continuous communication with your acquiring bank and the card brands with which you do business. This will ensure that any payment security vulnerabilities are identified and fixed in a timely fashion to maintain PCI compliance.

Myth #3 – My outsourced credit card processing company automatically takes care of all PCI issues.

Using a third-party processor can help to improve payment security and reduce risk exposure, but it is not a guarantee that your business is PCI compliant. As a business owner, you need to take responsibility to ensure that your payment processing system is up to PCI standards. Ask questions and be proactive—if they can’t answer or don’t know, it may be time reconsider your merchant services provider.

Myth #4 – Nothing bad will happen if my business isn’t PCI compliant.

If a business fails to maintain PCI compliance, payment brands, such as Visa and American Express, have the right to fine acquiring banks anywhere from $5,000 to $100,000 per month. These fees eventually trickle down to the merchant who violated the compliance. On top of that, the bank will very likely increase transaction fees or terminate the relationship with the merchant. It’s important for merchants to understand that the costs associated with PCI violations can be destructive to businesses of all sizes.

Business Owners: Take Action Now!

Not sure if your business is PCI compliant? The experts at Abtek are experienced at guiding business owners, just like you, through the complex validation process. Contact us today to find out how we help you ensure that your business’s payment processes are secure.

Stay updated on payment processing trends by following Abtek on Twitter and Facebook. Sign up to receive our newsletter, too.

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Breaking News, EMV® Cards

Entrepreneur: Everything Your Business Needs to Know About the EMV Mandate

April 28, 2015 Abtek Leave a comment

Tami Cohorst, Abtek’s Vice President, was recently featured on Entrepreneur.com, a prominent online resource for business development news.

New and major credit card processing procedures are set to change the way we do business, thanks to the 2015 EMV Compliance Mandate.

The U.S. is the world’s final market to become EMV-compliant. Our adoption and accessibility to the technology will likely transform all industries that depend upon processing payments via credit cards.

Is your company ready?

Continue reading the full article at Entrepreneur.com →

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