Category Archives: Merchant Service Providers

3 Ways Merchants Can Revolutionize the POS Experience for Customers

February 4, 2015 Abtek Leave a comment

Merchants today are using innovative technologies to improve the customer experience, giving the buyer more power and more control over the POS process. Customers are responding with increased enthusiasm to improved POS systems, and with renewed interest in the way they buy. This can be seen at retail leaders like Apple, in the everyday buying experience with online retailers and even when ordering a sandwich from tech savvy restaurants.

Using New Tech to Revolutionize POS

We can look at a few examples to see how merchants are leveraging technology, merchant services options and smart sales techniques. They use what they have available to make their jobs easier, improve sales and excite customers. Consider the following:

Apple iPad Checkout

Apple stores are famous for having numerous “Geniuses” available to guide customers through the purchasing process. It is easy to get help there when you need it, and no customer is left in the dark on what is available and what will work best for him or her. But Apple goes one step further by giving the control back to the customer–and highlighting one of its flagship products, the iPad.

When customers want to start choosing what to buy, customizing and adding different components, they are given an iPad to do it on. They can enjoy the tactile feedback and high quality visuals offered by the iPad, and choose exactly what they want to add to their shopping carts. It’s a great idea, and may even lead to an additional iPad sale. Credit card processing can be initiated on the iPad as well, making the process a complete experience.

Online Countdown Deals

Many ecommerce retailers have discovered a way to get shoppers more involved and active while perusing their stores. These merchants offer limited time deals that are tied to a countdown clock. The shopper has the option to review the deal, but is only given a limited time to decide whether or not to buy. Smart merchant services providers make this easy, giving merchants quick and painless credit card processing options and the technology to customize the shopping experience with things like countdown deals and customized shopping experiences.

Self-Checkout Sandwiches

Even certain restaurants are getting on the technology wave, using mobile merchant accounts and iPads to let customers do their own ordering. These restaurants display a menu, give a written explanation of how the system works and then allow customers to order exactly what they want on an iPad. Instant online payments and credit card processing through modern merchant services providers make customer payments a breeze as well. This also makes customized ordering–no mayo, add mustard, hold the pickles–painless for the buyer.

Customers Love Innovation and Control

Consumers enjoy using innovative technologies like touchscreens to enhance their buying experience. They also appreciate the control that these tools give them. Granted, there will always be a few people that dislike what’s new. Returns, complaints and chargebacks will still occur. But overall, these revolutionary approaches to POS and customer experiences offer a better way of doing things, both now and in the future.

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Merchant Service Providers

10 Things You Should Know About Credit Card Processing

November 6, 2014 Abtek Leave a comment

Payments processing is an ever-changing world. Starting a business or switching merchant services? Here are 10 things to remember when choosing credit card processing services.

1. Merchant Accounts Aren’t Optional

This is important. If you want to accept money from consumers, says the U.S. Small Business Administration, you’ll pretty much have to get a merchant account.

2. Keep All Costs In Mind

When looking for a payment processing provider, remember that not all costs may be financial. As QuickBooks points out, if you pay a super-low price but don’t get reliable help and services, it isn’t worth it.

3. Look for Deals

Some providers charge extremely low rates for small businesses, between 0% to .36%, according to the U.S. Small Business Administration.

4. Swipe Fees Affect Bottom Lines

Often merchants must pass on expensive swipe fees to their customers in the form of prices. Research this before setting prices.

5. Don’t Forget About Chargebacks

According to the Wall Street Journal, chargebacks happen when consumers disputes charges, but also when the service provider fails to input proper authorization codes. Talk to merchant solutions providers about how they deal with chargebacks.

6. Not All Processing Rates Are Equal

Credit card rates range from lowest “qualified rates” through “mid-qualified” to “non-qualified rates.” Factors such as terminal used, address identification and more determine the rate you’re charged, says QuickBooks.

7. New Technology Is Coming

In 2015, credit cards will be replaced with new chip-and-PIN technology, which requires each customer to enter their PIN.

8. Remember to Batch

Merchants send requests for payment in batches. Do so every 24 hours, or risk higher fees.

9. Customer Service Should Be Free

Avoid providers that charge a fee to talk; this should be an included service, says QuickBooks. And as you know, Abtek’s team is filled with in-house credit card nerds who are passionate about what they do–and about getting you answers. This is critical because your payments processor is one of your business’ key lifelines.

10. Keep An Eye Out For Extras

Features like virtual terminals, for example, make payment easy and cut down equipment. Check out extras before you decide.

Remember to keep these facts in mind from the beginning and you’ll have an easier time in the long run.

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History of Credit Cards, Merchant Service Providers

Apple Pay Lands on Monday and Here’s What You Need to Know

October 16, 2014 Abtek Leave a comment

Natalie Gagliordi reports for ZDNet a few of the details made public about Apple Pay–the tech company’s foray into payment processing. What you need to know:

– Apple Pay will roll out Monday, October 20

– Apple has signed 500 banks to support the platform

– Banks have not been named yet

– Apple Pay utilizes NFC for contactless payments.

– Apple Pay also features a dedicated chip called the Secure Element

– This allows it to integrate with Apple’s Passbook app, which launched with iOS7

– Users will be able to set up and control their wallets via their iTunes accounts

So how will it work? Last month for CNet, Sharon Profis summarized that Apple Pay would be contactless and featured a degree of tokenization:

At the register, you’ll tap the top edge of your phone to the credit card terminal, which is where the NFC chip is located. Your iPhone will then prompt you to scan your finger on the Touch ID button. The phone will then access the secure element to generate a random, 16-digit number that mimics your “real” card number. That information gets sent back to the NFC chip, which sends it to the POS. From there, the payment finishes processing as usual.

When it launches Monday, Apple Pay will accepted everywhere from Panera Bread to Foot Locker.

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Merchant Service Providers

Merchant Services Companies Can Protect Merchants and Consumers from Identity Theft

September 11, 2014 Abtek Leave a comment

Before consumers will take any risks on making purchases with a merchant service, they need assurances that their privacy is intact, their financial information is secure during credit card processing and that they are being protected from the invasive efforts of identity thieves through merchant service compliance initiatives.

Leading providers of merchant services offer credit card processing and POS systems management to most level 4 merchants such as debit card and credit cards from Visa, MasterCard and others.

Merchants understand, for the most part, that PCI compliance is not just a requirement, but a business responsibility for covering their consumers. Small business merchants believe that complying with PCI standards improves their business security. In fact since 2012, businesses that have stepped up their security PCI compliance have seen up to 50% growth in customer based sales, and even more recently.

Identity Theft Can Happen to Companies and Individuals

Business identity theft protection is as vital to thriving businesses as it is to consumers. When hackers compromise the security of business merchant records, they can get a hold of personal financial records of thousands of customers. With the continuing global growth of ecommerce trade, new innovative controls have been developed over the years to keep ahead of business hacker’s efforts.

Digital Solutions to Credit Card and Identity Theft Threats

Consumers are readily adopting the concept of mobile commerce technologies. Many find it easier to trust mega-corporations to secure customer online payments using business intelligence security using their smartphones and other digital devices than to trust the security of small businesses in brick and mortar shops.

One way financial institutions are protecting consumer security from identity thieves is by using geo-location within their payment and purchasing eco-systems. In fact, mega corporations like Google, Apple, PayPal and Square are investing big time in new geo-based technology. Processes for secure transactions using smartphone apps will soon become recognized as the safer and more secure transaction method, our digital wallets, over physical credit and debit cards.

Retailers have the capacity to provide security in a seamless, secure market with direct service transactions for their customers who elect to use mobile payment technologies. The built in securities in smartphones and payment apps will deter identity theft and wall out hackers, making mobile merchant accounts and their ecommerce companies highly regarded by consumers for their digital protective powers.

Efficiency in Chargeback Procedures and Compliance

An integrated online payment duty of merchant service accounts is to guarantee coverage for following through with customer chargebacks. The financial service industry is more versatile in administering certain guidelines and maintaining reserve funds for chargebacks for dissatisfied credit card holders. There have been many instances with banks denying valid claims because of their restricting regulations.

Pro-Active Protection Methods Used by Merchant Services Companies

Many merchant service companies provide their customers with software that can notify them if fraudulent activities are suspected on their accounts. Some banks will put a temporary hold on credit card activities until the customer makes a call to confirm unusual charges, before anything really serious can happen. If too many password attempts hit a merchant website page, their merchant account will be temporarily blocked until they call in to change the password.

Some merchant services websites outline the steps to take if a suspected fraudulent incident happens to a merchant account; these steps are designed to stop identity thieves in their tracks. Some financial services act as interceders between the seller and purchaser so they never have a printout or stamp of your account, and the information they receive on any transaction is limited. This can be as effective as using encoded passwords and account numbers.

Internet specialists, programmers and software designers are working around the clock to stay ahead with innovative features for safety in the online financial and marketing industry. Many trusted avenues for transferring money are being tasked to ensure that clients have a safe mode of completing business and sales without the danger of identity theft. Users who are observant, make good decisions and follow protection warnings when online can safely avoid identity theft.

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Merchant Service Providers

Expert Tips for Growing Your Business

August 27, 2014 Abtek Leave a comment

We understand that a common challenge of all businesses, especially smaller ones, is that of cash flow. No matter how profitable a business, it requires increasing levels of working capital to support ongoing growth. The successful entrepreneur understands this need for cash and capital and takes steps to ensure it is available when needed.

Increasing Cash Flow with the Right Merchant Services

Many people think the only way to fund a small business is through incurring debt or selling equity. While both of these methods are common, we work with many creative entrepreneurs who find additional ways to help manage their cash flow. For those companies involved with ecommerce especially, efficient credit card processing services is just one of those tools.

The use of our modern POS systems helps business owners generate accelerated cash flow. We provide merchant services that facilitate all types of large and small business transactions, from retail to online payments. We also offer mobile merchant accounts that fit the needs of a wide range of businesses. Importantly, our systems help our clients minimize the common problem of chargebacks.

Low cost and dependable credit card processing are only part of what we provide to business owners who want to maximize cash flow. As a part of our package of progressive merchant services, we also offer different forms of advances and business loans for those who serve their customers with our state-of-the-art POS systems.

The advantages of these financing options are numerous. Instead of trying to get a loan from a bank and committing to a rigorous payment schedule, we accommodate our clients with convenient terms that automatically reduce the balance they owe based on the volume of business they do.

Other Tips for Financing Your Business

In addition to debt, equity and the correct use of credit card processing services, the savvy business owner will focus on these key areas of managing working capital needs:

Working with vendors. The longer you work with certain vendors, the better terms you can expect. It is important to set up your company’s financial accounting system to ensure you pay your accounts on time, building a strong credit history. Setting up a D&B account is part of this process. Depending on your industry, you can also work with vendors to smooth out seasonal peaks in buying and payment terms.

Managing inventory. Today, there are many inexpensive inventory control systems to help keep inventory levels at the lowest level possible while meeting customer expectations. Many companies reduce their working capital needs by as much as 20 percent when they pay attention to inventory levels. This is especially important for companies with seasonal business or products that may go out of date. Clearing out excess inventory at cost is far better than letting it sit on shelves.

Consider invoice factoring. Many companies today are turning to the concept of selling their invoices to a factor to improve cash flow. The great thing about factoring for a small company is that the factor looks at the credit worthiness of the company buying the products or services. These are often larger companies with established credit, allowing even a new business to sell their invoices quickly. While this can be an expensive route, it may be the right way to support growth for some companies. Over the long-term, factoring is preferable to some businesses wishing to avoid debt or selling shares in the company.

Taking Care of the Basics

Companies must generate profits and have sufficient cash flow to survive and grow. Meeting customer expectations with quality service and professional credit card processing services are one of the basics for businesses today, especially those involved with ecommerce.

Delivering what customers expect will ultimately improve sales, reduce chargebacks and increase your ability to attract the type of financing you need for growth. Abtek’s POS systems are designed to help you provide that level of service and build the revenue you want and deserve. We also work with you to provide part of the financing you need as your growing base of charges shows you are taking care of business.

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Merchant Service Providers

How to Choose the Best Merchant Services Provider for Your Business

July 28, 2014 Abtek Leave a comment

Without having the ability to accept credit card payments and other payment options, even the best retailers can’t expect to stay in business for very long. These days, consumers have more payment options at their disposal than ever, and they expect to be able to use any of them when making purchases online and in brick-and-mortar stores.

At Abtek, we understand how confusing it can be to find a company that provides affordable, secure, effective credit card processing options and other essential services for merchants. From accepting online payments to being able to reverse chargebacks quickly and easily, there are lots of things to take into consideration.

Seven Things to Consider When Shopping for Merchant Services

Pricing. Yes, pricing is important. No one wants to pay more than they should for their ecommerce and merchant account needs. Still, pricing shouldn’t be your one-and-only motivator when looking for a provider. POS systems providers often lure people in by advertising rock-bottom rates. All too often, though, the rates aren’t all-inclusive, and you end up getting nickel-and-dimed in the long run. Furthermore, it’s far better to pay a little more for processing that’s truly effective, reliable and secure than it is to save a few bucks and end up with something that falls far short of delivering the quality you need and deserve.
Flexibility. If you’ve ever dealt with credit card processing companies before, you already know how important this factor is. Many providers are only set up to deal with small businesses, for instance. If your needs change, evolve and grow – which they will, with any luck – the last thing you’ll want is to have to find a new provider. In other words, the provider you choose should offer flexible, scalable solutions. You may not be interested in mobile merchant accounts now because you do the majority of your business in your store. What if that changes, though? Having to switch is a major burden, so choose a provider that offers flexible, open-ended solutions.
Transparency. This tends to be a major issue in the industry. As mentioned previously, it’s not unusual for providers to advertise seemingly low prices only to turn around and charge all kinds of extra fees later. You shouldn’t be in the dark about a provider’s prices or capabilities, and you should know exactly what to expect when it comes to things like fees, conditions and rates.
All-In-One Solutions. Don’t let anyone tell you that you’re going to have to use different providers for different needs. There are plenty of all-in-one providers out there. Finding a single provider for everything from virtual terminals to credit card storage is perfectly doable, and it’s much more convenient to have everything delivered by a single company. Even if a provider is only lacking one service you need, you should cross it off your list and move on.
Security. Nothing can ruin a company’s reputation like a security breach. Whether you’re mostly interested in POS systems or in online payment processing, the provider you choose should make security a top priority at every level. Don’t settle for a generic promise about security, either. Dig deeply, and ask for details. How exactly will your online payments and other services be kept safe and secure? What measures does the provider take to keep your information and your customers’ information out of the wrong hands? There should be no doubt in your mind that the provider takes security seriously.
Reputation. In this day and age, there’s no excuse for not fully vetting a company that provides merchant services. Your first stop should be the Better Business Bureau website. Find out what the provider’s rating with the BBB is and whether any complaints have been filed in the recent past. Perform an online search to look for reviews from everyday business owners regarding the company in question. What does the general consensus seem to be?
Specialization. Finally, pay attention to the kinds of companies that the provider has helped in the past. Ideally, choose a provider that has a proven track record for helping other companies in your industry.

As eager as you may be to find a great merchant services provider, don’t rush the process. It’s far better to take your time and make the right choice now than to backtrack and have to find yourself back at the drawing board. With these tips in mind, zeroing in on the right provider should be fairly easy.

Using New Tech to Revolutionize POS

Apple iPad Checkout

Online Countdown Deals

Self-Checkout Sandwiches

Customers Love Innovation and Control

Share and Enjoy

Share and Enjoy

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Identity Theft Can Happen to Companies and Individuals

Digital Solutions to Credit Card and Identity Theft Threats

Efficiency in Chargeback Procedures and Compliance

Pro-Active Protection Methods Used by Merchant Services Companies

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Increasing Cash Flow with the Right Merchant Services

Other Tips for Financing Your Business

Taking Care of the Basics

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Seven Things to Consider When Shopping for Merchant Services

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Credit Card Processing and Merchant Account Solutions