Truths About Merchant Services

Month Minimum Processing Fee

2012-01-16T17:58:00.000-08:00

Not all monthly minimum processing fee are the same from one company to another.. The standard in the industry is $25.00. What is not standard is how they are calculated. This fee is imposed if your credit card charges (discount rates) do not add up to monthly minimum amount. For example if the monthly minimum is set at $25 a month and the discount fees came to a total of $20, the company will add $5.00 to make up the minimum. Again the way this is calculated and what fess are applied to the minimum is not the same from one company to another. Typically when a merchant processes $1250 in credit card volume at an overall effective rate of 2%, they will meet the $25 monthly minimum processing fee. See below a copy of a statement where this business processed over $10,000 and still there was charge for minimum processing fee of over $24.

PREVENT CREDIT CARD FRAUD AND PROTECT YOUR BUSINESS

2011-12-27T18:36:00.000-08:00

Fighting fraud is all of our responsibility and alittle diligence on your part could save your business hundreds or thousands ofdollars. Don't be shy about contacting a Risk Representative at CapitalBankcard if you are unsure about an order or transaction. We can help youdetermine if the transaction is legitimate and give you guidance on steps youcan take if you are suspicious.

If you believe a card is stolen, fraudulent orotherwise suspicious, you should train your staff on how to make a Code 10authorization request. The Code 10 authorization request alerts the card issuerto the suspicious activity-without alerting the customer. During a Code 10call, you will speak to the card issuer's special operator, who will provideinstructions on any necessary action. This type of authorization request is themost likely to result in a call to law enforcement.

Code 10 steps

Keep the card in hand to quickly respond toquestions. Call 1-800-228-1122 and say "I have a Code 10 AuthorizationRequest." When connected to the special operator, answer all questionscalmly and in a normal tone of voice. Follow all operator instructions.

If the operator asks you to retain the card,comply with this request only if it is safe to do so.

If you are keying transactions or receiving themoff the internet, you are at even more risk for fraud. Below are some red flagsto watch out for in these environments.

Orders that require you to ship product outsideof the United States. There are obviously very legitimate orders from overseasbut, if your business does not normally receive such orders, or receives anywhich seem unusual, you should give them extra scrutiny.

Transactions requiring you to "prepay"the shipping costs via Western Union to a specific shipping company being usedat your customer's request. Any suspicious sounding shipping arrangements are agood sign of potential fraud.

Unusually large orders or those containingmultiple quantities of the same item. You know your business better thananyone. If a large order seems particularly unusual in any way, trust yourinstincts and follow-up on it. Thieves know a stolen card number won't lastlong so they typically place large orders while they can. They are also alwayslooking to maximize their resale value.

Orders from generic e-mail addresses (ie. john@yahoo.com)or calls using TDD (telecommunications device for deaf) to place orders. Manyof these orders are legitimate, but they are sometimes indications of afraudster looking to remain anonymous.

"Rush" or "overnight"shipping requests. Crooks want your goods as soon as possible for the quickestpossible resale. The last thing they care about is extra delivery charges.

Transactions with similar account numbers,multiple orders from one account or multiple orders to one address frommultiple cards. These are all highly suspicious and are worth your attention.

We want to ensure that you and your associatesare able to spot potential fraud and take action quickly in order to preventfraud and protect your business, but only when it is safe to do so.

Hopefully these suggestions will help you. If you have any question about this, please feel free tocontact us at info@tampabaymerchantservices.com or call 727-916-7294

http://www.tampabaymerchantservices.com

Scam Targeting Businesses Accepting Credit Cards

2011-12-04T17:24:00.001-08:00

A"customer" enters a business and makes a purchase using a creditcard. The proprietor attempts to process the transaction, but everyauthorization attempt is declined. The cardholder tells the merchant he willcall the card-issuer via his cell phone. The individual allegedly makes thecall to his bank, but in reality dials the number of an accomplice. Thecardholder hands the phone over to the merchant so the person on the other endcan provide a false authorization number. The merchant then unknowingly forcesthe sale through the terminal, using the illicit code. Due to an invalidauthorization being used such a transaction will almost certainly be disputed,causing the merchant to take a total loss. Merchants should only input codesobtained directly from the voice authorization center

Another scam similar to the above is the "customer",presents a Visa Gift Card and after it is declined; the phone call to the accomplice whichresults in a credit in the amount of the sale going back on the Visa Gift Card,while the merchant thinks it is authoring the sale.

If you have any question about this, please feel free tocontact us at info@tampabaymerchantservices.comor call 727-916-7294

http://www.tampabaymerchantservices.com

How Does Banks Charging For Checking Accounts Relates To A Business Accepting Credit Cards?

2011-10-05T18:32:00.000-07:00

Everyday now we hear about another big bank raising checking account fees. This is because of the Durbin Amendment hascapped the fees on debit cards thru interchange assessments. This does notmean that you as small merchant will benefit.

If youhave a tier rate structure, as most businesses do, you will not see arate reduction. Talk to us so we can review your account and be sure you willsee the savings you deserve

Contactus at info@tampabaymerchantservices.com or call 727-916-7294

http://www.tampabaymerchantservices.com

Cost To Accept Debit Cards Will Go Down - Will You Benefit?

2011-09-09T06:11:00.000-07:00

In case you have not kept up with the Durbin Amendment to the Dodd-Frank Reform and Consumer Protection Act, it will lower the cost to accept credit cards. As of this writing this new reform will take effect in October 2011. This legislation gives the Federal Reserve the power to cap the interchange fees each time a debit card is used. Does this automatically mean that you as small merchant will benefit? The answer is most likely no. If you have a tier rate structure, as most businesses do, you will not see a rate reduction. We offer a rate structure known as interchange plus pricing. Interchange is the cost from the card associations. Now with interchange going down for debit cards as noted above you will automatically have your costs lowered. Under the tier rate structure your company, also know as the "acquirer" is not covered in this legislation. Don't expect them to pass on these savings to you, the business. It will be a big raise for them. Contact us today so you can benefit and lower your cost of accepting credit cards
info@tampabaymerchantservices.com or call 727-916-7294
http://www.tampabaymerchantservices.com

How Secure Is The Card Reader Attached To Your Smart Phone?

2011-08-24T05:38:00.000-07:00

There are many choices to process credit cards using a smart phone. The cost of the card reader varies. The question is how secure is the system. A popular one now is "Square". Read more about this subject at:

http://storefrontbacktalk.com/securityfraud/time-to-encrypt-again-researcher-says-data-over-cell-networks-is-easy-to-read/#ixzz1UiKBpR6y

If you have any question about this, please feel free to contact us at info@tampabaymerchantservices.com or call 727-916-7294

http://www.tampabaymerchantservices.com

Who Needs Their Bank When It Comes To Processing?

2011-08-24T05:15:00.001-07:00

An owner of a business was approached by her bank that they could save on her processing. They wanted to see the current company’s statement. The only problem was she no longer received processing statements because they went “green”. The bank could not figure out who was deducting fees out of her account. She searched the web and came to my website and called me to see if I was her company. Of course she is not my customer. However, because of my experience and knowledge and what she told me of what was on her bank statement I gave her a phone number to try. Turns out it was the right one. It comes down to this, if you want someone that knows the processing business and not just a bank's that is offering another auxiliary product line to help the bank bottom line, call me, a Professional Merchant Account Master.

If you have any question about this, please feel free to contact us at info@tampabaymerchantservices.com or call 727-916-7294

http://www.tampabaymerchantservices.com

Peter's Story - A Lesson For All

2011-03-14T07:51:00.000-07:00

"Hi: I own Nails by Peter. I would like to relay a most unfortunate situation. Now looking back I made a costly time & money error regarding my merchant account.

In February 2009, I opened a merchant account with Ray. Six months later a rep from another company approached me about saving money by switching to his company. Ray spoke with me about making this change and he informed me that I would not save. I wish that I had listened to Ray - around seven months later I discovered that I had made a bad error in changing. I discovered my new merchant account was costing me more than my previous account with Ray.

I decided to close this new account & return to Ray's services. Altho I closed this higher costing account in May of 2010, I am still being charged fees, 8 months later. I've spent a huge amount of time & considerable stress in working to close out this account & stop the fees. Ray has even help me in to obtain refunds. How many people would do this?

My experience with Ray is that he is totally honest in his representations - so if you are approached by someone and you really think they can save you money - I strongly urge you to contact Ray for a second opinion/fair evaluation of any offers! Do not make the same mistake I did" - Peter

Thank you Peter for allowing us to share your story.

New IRS Reporting Requirement For Merchant Accounts

2011-02-12T14:18:00.000-08:00

Starting this year, 2011, all processors will be required to report all payments made from a merchant settlement account. This new requirement is outlined in section 6050W of the internal revenue code. It is more important than ever to be sure the correct tax id number is recorded for your account. Failure to do so could result in a 28% back up with holding. In early 2012 you will receive a 1099 for the amounts reported to the IRS.

As always if you have any question about this, please feel free to contact us at info@tampabaymerchantservices.com or call 727-916-7294

http://www.tampabaymerchantservice.com/

Can I Help A Friend And Let Them Use My Merchant Account?

2011-01-29T17:41:00.000-08:00

I would like to make you aware of the following scenario – it may or may not have happened to you. A friend has asked you to run a credit card transaction through your account as a favor as they do not have a merchant account of their own. They will reimburse you for the cost, so what is the harm? You are a nice person and they are a friend so why not?

It is in your best interest not to do so. According to the terms and conditions that you agreed to upon opening your account - you agreed to process only transactions for the products and service as described in the application for your business. Also a financial profile about your transactions; such as average sale, average monthly and single highest charge was provided at that time. Should you oblige your friend, it violates this agreement. Should it be discovered, you could lose the privilege of credit card acceptance. It can also be constituted as money laundering, which is a violation of state and federal law. The bottom line is that you should decline to help your friend. You can however, refer them to me so that their business could obtain its own merchant account for processing transactions.

Remember also, if you would like to include a new product or service on your existing account, we might be able to add it. But we need to go through the proper procedure to have it approved. And depending on the situation a new account maybe required.

As always if you have any question about this, please feel free to contact us at info@tampabaymerchantservices.com or call 727-916-7294

http://www.tampabaymerchantservice.com/

New Mandatory Pin-Based Debit Transaction Rules

2010-08-14T18:25:00.000-07:00

As of July 1, 2010, Visa and MasterCard requires that merchants processing PIN-based debit transactions must meet the following requirements:

PED is a Pin Entry Device. PEDs currently in use must be either pre-PCI PED (Visa PED) certified or PCI PED certified.

All PEDs must use the most up-to-date encryption standards for processing debit transactions, which requires injection of a Triple DES (TDES) key.

In other words, the Pin-Pad device that you are using must be PCI-PED compliant.

OK. What is PCI? PCI is the Payment Card Industry. So, the PCI sets the security standards for how credit and debit cards are used.

A newer certified device automatically encrypts all key codes entered into the Pin-Pad device. Older devices sent the data over in raw format which is no longer acceptable.

To read more about the mandatory pin transaction requirements go to:

https://www.pcisecuritystandards.org/security_standards/ped/index.shtml

As always if you have any question about this, please feel free to contact us at info@tampabaymerchantservices.com or call 727-916-7294

http://www.tampabaymerchantservice.com/

What is the difference between a void and return?

2010-06-07T10:03:00.000-07:00

From time to time a customer will ask this. This is a very good question. Also the next question might be when should I use them? While most terminals are different and the keys on the terminal might actual use the text of “credit” instead of “return”, however the premise is the same. A void, will delete a transaction in the current open batch. A return or credit will credit back the amount your select to the cardholder’s card. An example when and how to use it would be, the sale amount was $10, but the clerk mistakenly ran the transaction for $100. The batch is still open that has the $100 transaction. The best approach would be “void” the $100 and run the card again for the correct amount of $10. When using a return or credit is the customer come back the next day to ask for a refund for some reason and the transaction was in a batch that was already closed. This would be the reason to select return or credit depending on how the terminal is set up as different manufacturers uses different tags on the keys. Also keep in mind if the transaction was a pin based debit, you can only use return or credit while using the card as a credit card. Void will never be an option with a pin based debit.

As always if you have any question about this, please feel free to contact us at ray@tampabaymerchantservices.com or call 727-916-7294
http://www.tampabaymerchantservice.com/

Can I Charge Customers More For Paying With A Credit Card?

2010-04-15T06:18:00.000-07:00

I am asked this question from time to time. The short answer is no. This thought comes up because of places Ticketmaster. Convenience fees charged by places like Ticketmaster are charged for the convenience of buying tickets online as opposed to at a ticket window face-to-face. You can give a "cash discount".

The link below is from Visa website, which has some information about the no surcharge rule. Please note that in some states also has laws against the merchant charging their customers surcharges for using credit cards. If a merchant attempts to levy such fees on their customers and it is reported to Visa, they may not be able to take credit cards going forward.

http://usa.visa.com/merchants/operations/no-surcharge.html

Please feel free to contact me if I may be of service to you or your business. Please contact us at ray@tampabaymerchantservices.com or call 727-916-7294
http://www.tampabaymerchantservice.com/

Ten Common Myths About PCI

2010-04-10T07:15:00.000-07:00

What is PCI?

As you are probably aware over the past several years there have been many large credit card security beaches. To combat this Visa, Master Card, Discover and American Express has formed Payment Card Industry Data Security Standard or PCI DSS for short. As such every merchant has to be in compliance to avoid penalties and fines. A study conducted shows that compliance was lowest among small merchant. According to industry research by Verizon, 81 percent of the organizations that experienced a breach “were not Payment Card Industry (PCI) compliant”. In addition more than 80% of breaches since 2005 have happened at small merchants.

Check out the following link:

https://www.pcisecuritystandards.org/pdfs/pciscc_ten_common_myths.pdf

Please let us know if we can be of service to your business. Please contact us at ray@tampabaymerchantservices.com or call 727-916-7294
http://www.tampabaymerchantservice.com/

PIN Pad Device: Is Your Merchant Service Company Taking Advantage Of You?

2010-03-13T13:06:00.000-08:00

In the past few months I have meet merchants that have showed me letters and other notices where their current merchant service provider has informed them that they have to “upgrade” their pin pads, because of a mandate of the “Payment Card Industry Security Council” and the requirement date of July 1, 2010. Of course you must go thru the provider, because the pin pad is security encrypted based on the processing company of that particular provider. All of this ok, except the cost to “upgrade” is a bit high. One company is charging an extra $25.00 per month if the merchant does not call in and obtain the new PIN Pad Device by February 1, 2010.

While it is true there is a deadline of July 1, 2010, Visa/MC will not assess any fees until July 2012. In my opinion, these companies are using this as another excuse to extract more money from their customers, the merchants. It seems to me most companies see their merchants as an ATM Machine. If you of tried of this kind of treatment and lack of respect, please give me a call to experience a better service.
Please contact us at ray@tampabaymerchantservices.com or call 727-916-7294
www.tampabaymerchantservice.com

Are You In Compliance With Your Credit Card Receipts?

2010-03-13T13:01:00.000-08:00

As disclosed in the merchant agreement and other notifications, merchants must follow the compliance regulations in relation to credit card transaction receipts. The card association rules as well as federal government legislation requires at a minimum that the receipt provided to the customer mask the credit card number so that only the last four to five digits appear on the receipt and completely mask the expiration date. In addition to the above minimum requirements, legislation in some states now requires that the merchant’s copy of the receipt also mask the credit card number and/or expiration date. Please be advised that it is the merchant’s responsibility to investigate which local, state and federal statutes apply to the location(s) in which they conduct business and to find out if any additional truncation laws apply to them. Although meeting these compliance requirements is the responsibility of the merchant, we are here to assist you in any way that we can.

It is imperative that you verify that the receipts being printed from you point-of-sale (POS) device that are given to your customers, as well as receipts that you keep for your records, follow these compliance requirements. Based on the trend that our industry has seen over the past several years in relation to this topic, it is very likely that many states will be moving to truncation of both the credit card number and expiration date on the merchant’s copy as well. As your merchant service provider, we strongly urge you to transition to supporting truncation on both receipt copies regardless of whether your state legislation currently requires you to do so. Because the liability of fines, assessments and associated costs to become compliant are the responsibility of the merchant, we urge you to take the time to comply with these requirements.

We welcome your comments. If we may be of help to you or your business, please contact us at ray@tampabaymerchantservices.com or call 727-916-7294
www.tampabaymerchantservice.com

Daylight Saving Time Setting For Authorize.net Users

2010-03-13T12:53:00.000-08:00

As you are changing your clocks in your home, office and car, there is one more place you should also take care of. That is your authorize.net account.
If not already do so, I suggest to set change the time setting to check the "Day Light Savings". This will help to ensure proper settlement time.
If you need follow these directions:
1. Login
2. Look for "Account" on Blue Bar At Top Of Page, click account
3. Scroll to bottom of page under Business Settings, click "Time Zone"
4. There you will see "Use Day Light Savings Time" check the item
5. Press "Submit"
Now you are ready to log out. Please contact me should you need further help. Please contact us at ray@tampabaymerchantservices.com or call 727-916-7294
www.tampabaymerchantservice.com

Restaurant Industry Outlook Brightens in 2010

2010-03-13T06:27:00.000-08:00

All is well. According to the NRA (National Restaurant Association), the 2010 restaurant industry outlook for 2010 has brightened. We can all celebrate.

The forecast projects $580 billion in sales which is a 2.5% increase over 2009. When adjusted for inflation, that means sales will essentially be flat. On the positive side, this means that things are better than the previous two years which saw decreases in sales after adjustment for inflation.

Restaurants represent 4% of the U.S. gross national product and restaurant employees represent 9% of the U.S. workforce.

"The past two years have been a very challenging time for our industry. While there are still substantial challenges ahead, we are encouraged that the outlook is improving," said Dawn Sweeney, President and CEO of the National Restaurant Association. "With a total economic impact of more than $1.5 trillion, the restaurant industry is a strong player in the economic recovery. Restaurants are the cornerstone of communities across this nation and we are a key player in propelling job retention and creation across the United States."

My unofficial survey of local restaurateurs who I know more or less agree with the outlook. Restaurant business is slow, but stable. Sales are slightly better which is far better than slightly worse.

To read the entire article go to:
http://www.chainleader.com/article/445207-NRA_Restaurant_Industry_Outlook_Brightens_in_2010.php

We welcome your comments. If we may be of help to you or your business, please contact us at ray@tampabaymerchantservices.com or call 727-916-7294

Change The Time On Your Credit Card Terminal

2010-02-28T18:12:00.000-08:00

We have tried to cover the most common terminals in use. Every effort has been made to give accurate directions. There can be slight variations based on processor programming. If yours is not listed or if you do not wish to attempt to do this yourself, please call me and I will be glad to assist.

Ingenico 5100

From Main or credit sale account screen

Select Admin button (below the 9)

Choose 3 setup menu

Choose 1 quick set up

Clock should come up as your first choice.

Select edit and follow prompt by in putting date and time

Note time should be in military time format. I.E. 1:00 pm is 13:00

Verifone Omni 3730, 3740 & 3750

From Main or credit sale account screen

Press the green button or enter

This should bring you to a Configuration Screen

Press the set up key or F2 button

Enter pass word 1 Alpha Alpha 66831

Press “More Button” far left button under screen until you see Date/Time

Press F1 button

Note time should be in military time format. I.E. 1:00 pm is 13:00

Omni 3200

From Main or credit sale account screen

Press “More Button” far left button under screen until you see other set up

Press enter at which time a pass word will be required.

Enter pass word 1 Alpha Alpha 66831

On next screen press “More Button” far left button under screen until you get to date/time

Time should be in military time format. I.E. 1:00 pm is 13:00

Nurit 2085, 8320, Wireless 8000 & 8020

From Main or credit sale account screen

Choose Menu

Scroll down to “systems options”, normally number 5, press enter

The first option to appear should be “Set Time/Date”, press enter

Current date and time should appear, press enter which will allow you to input new info

Note the format it will allow. Example year will only be 2 digit or “10”

Time should be in military time format. I.E. 1:00 pm is 13:00

Hypercom T7P

From Main or credit sale account screen

Choose Function 11, enter

Pass Word: 0000, enter

Follow prompts.

Time should be in military time format. I.E. 1:00 pm is 13:00

Hypercom T7Plus

From Main or credit sale account screen

Choose Function 10, enter

Pass Word: 0000, enter

Follow prompts.

Time should be in military time format. I.E. 1:00 pm is 13:00

FD100 & FD50

From Main or credit sale account screen

Choose “system”, touch the screen

Next screen you should see “date / time”

Choose “date / time” by touching the screen for FD100 for a FD50 choose corresponding number

To take the curser over the time number you want to change use the arrow keys on earthier side of the “zero” of the number pad. Near bottom of terminal

Time should be in military time format. I.E. 1:00 pm is 13:00

We welcome your comments. If we may be of help to you or your business, please contact us at ray@tampabaymerchantservices.com or call 727-916-7294

Schemes Target Local Businesses

2009-12-26T07:36:00.000-08:00

As a business owner you must be vigilant against taking credit cards that might be stolen. As I addressed this subject on this bog before it is worth mentioning again. In an article that appeared in the Tampa Bay Business Journey. See the link below. In my other posting it dealt mainly with retail type businesses where a business might deal face to face with the customer. In a telephone order environment, a company that could get an email or phone call to place an order, needs to be perhaps more vigilant. If you do not know the customer it or could be a new customer, always obtain all information you can. You need the full credit card number, expiration date, billing address with zip code, the card code. After running the transaction, if you find that you do not get a zip code match, you should be suspicious. In the industry the zip code is used to check for what is card an address verification match. Also known as “AVS”. Note it is not possible to have international cards use the AVS as overseas addresses do not use a zip code. However if you are given a card with a billing address in the US and it is shipping overseas then this is a give away that most likely a scam with a stolen credit card. If the card is decline and they keep giving you different cards to try until you get an approval is another give away. Another possible scenario they want to charge more on the card that what the order is for and you are send the difference to them is a scam.

If you want to make a comment or if I can help you or your business, please contact me at ray@tampabaymerchantservices.com.

http://tampabay.bizjournals.com/tampabay/stories/2009/12/28/story2.html?ana=e_ph

Salvation Army Accepts Credit Cards At Kettles

2009-11-26T15:31:00.000-08:00

The following articled appeared in the St Petersburg Times. I have talked to many business owners that do not accept credit cards and found that they believe that a customer will purchase from them regardless whether they take credit card or not. Another misconception is that because of the recent credit crunch, credit cards are being used less. The reality is because of check cards and debit cards, more people use plastic because of the convenience. It is rare a consumer will complain because a business might not take credit cards. They will just go to a business that does because of the convenience. It is interesting to note in the article that at the locations where they are accepting credit cards, donations are up.

Turn Your Credit Card Receipt Into A Coupon

2009-11-15T06:38:00.000-08:00

Did you know many credit card terminals have the ability to place a message on the bottom of receipt? Instead of the plain “Thank You Come Again” why not have it read “Present This Receipt Back Within 30 Days for 10% off your next purchase” Or an automobile shop might say “Bring This Receipt Back for 10% off your next oil change” There are many possibility with this program. You just have to put your thinking cap on. Some terminals have text limitation that might have to be considered. The important part is turning a customer in a repeat customer sooner. If you like this idea, contact me and I will be glad to help you with “Receipt Advertising”

Email me at ray@tampabaymerchantservices.com

Non customers Want To Use My Restrooms

2009-11-15T06:33:00.000-08:00

Many restaurants and retail owners face the same question. What do you do with non customers who want to use your restroom?
Lots of restaurant and retail owners freak out at the prospect. They do not want non customers using their restroom. Many businesses post signs on their front window stating, "Restroom for Customers Only."
On the other hand, many retail stores take the opposite point of view. Lots of department stores pride themselves on having clean attractive restrooms. Lots of business owners believe that they should do nothing to impede non guests from availing themselves to the facilities.
It appears from my informal survey that most retailers and restaurants actually favor allowing non customers’ use of their restrooms.
I agree with those retailers and restaurants who have clean attractive restrooms available to all. It's all part of a better customer experience. I just know that there are going to be lots of people out there sending me opposing view horror stories!

I would love to hear your comments!

ray@tampabaymerchantservices.com

Manhattan Restaurant Stops Accepting Cash

2009-11-14T18:06:00.000-08:00

In a previous newsletter, I talked about several restaurants that were offering up to 20% discounts to customers paying by cash. Now, we have a Manhattan restaurant in Greenwich Village that stopped accepting cash.

If you’re not using a credit card, take your business elsewhere. According to the restaurant, 90% of their customers already pay by credit card. People use their credit cards to pay for a taxi ride and contribute to the Salvation Army. According to Commerce Restaurant, if you don’t have a credit or debit card, you probably don’t have a checking account and probably shouldn’t be eating at the Commerce Restaurant. Tony Zazula, the owner is a veteran restaurateur with an M.B.A. from Cornell University.

According to the owner, credit cards only, mean no more armored trucks to deposit cash in the bank and possibly less scrutiny by the I.R.S.

It’s a pretty interesting concept and the restaurant has surely received lots of publicity including an article in the Wall Street Journal. See it at:

http://online.wsj.com/article/SB125260838282300453.html?mod=dist_smartbrief

Let me know your thoughts or email me at ray@tampabaymerchantservices.com

Protect Your Business From Stolen Credit Cards.

2009-09-08T03:59:00.000-07:00

I receive many different questions from my customers. One item I am seeing on the raise is the use of stolen credit cards.

Retail Merchant: when your customer presents a credit card, ask for an ID to verify it is their credit card. This will ensure it is not a stolen credit card. If the person owning the card has not yet reported it stolen, the (stolen) card could be used for several hours or even days. Also it is a good idea to have the terminal to prompt for the last four digits of the card after you have swiped the card thru the terminal. This is an additional fraud protection for your business.

Websites taking payments via a shopping cart: always have the gateway set for zip code match, also known as address verification (AVS) and always require the card code*.

Locating *Card Code:
Discover, Master Card & Visa have three numbers on the back.
American Express has a four-digit number on the front.

As a merchant, it is your responsibility to protect yourself against stolen credit cards. These tips will avoid the risk of a charge back.

As always, anyway I can help you or your business, please contact me: As always, if I can help you or your business, please contact me at ray@tampabaymerchantservices.com.

Welcome

2008-12-23T17:24:00.000-08:00

I would like to welcome you to my blog about merchant services. I know there is much confusion on this subject, misinformation and in some cases down right abuses to business owners. I have witness this first hand. I hope I can help you as a business owner in this area. If you have any questions or need advice about your situation, let me know and I will be glad to assist. You can do so by posting a comment on this blog or if you want to do so in confidence, please email at ray@tampabaymerchantservices.com

Also check out

http://www.tampabaymerchantservice.com

Again thanks for visiting, Ray.