It’s the art of doing what you do so incredibly well that others will want to share ‘who’ you are with their family and friends. It starts with nurturing your relationships with your customers in order to grow your business. With automation and innovation rampant across all platforms these days, nurturing your database has never been more important. Take Twitter for example, or even Facebook. All it takes is making someone unhappy one time and they can flood/share their opinion to the masses and leave a lasting impression that could possibly make or break your business.
As a business owner or office manager you get stuck in the day to day grind of booking appointments, billing and collections and handling paperwork. But when you review the numbers at the end of the month are they everything you had hoped for? There is a simple way to boost your service businesses’ bottom line and it can maximize the dollar value of every client/patient who walks through the door. Yes – service businesses can and should also sell supporting products.
Late last year Singular Payments joined forces with a new technology partner, CardConnect. Based in King of Prussia, Pennsylvania the CardConnect team has two important arms to their service offers which are CardPointe and CardSecure. CardPointe allows Singular Payments’ merchants to: accept payments, manage transactions, create billing plans, build receipts and more. CardSecure highlights the measures that CardConnect has taken to assure the highest level of security available in the payment processing industry today which is completed by a combination of EMV and P2PE technologies. PCI-certified P2PE is the foundation of their platform, protecting every transaction at the point of interaction. The patented, intelligent tokenization available through this platform is irreversible as tokens are randomly generated making it impossible to decrypt. This same process is ‘persistent’ meaning the tokens can be used for recurring charges. This platform is also merchant specific as the tokens used are unique to organizations.
The way we think about payments as a whole is continuously changing. We often take a look back or forward to better forecast what’s next. 2016 was an eventful year for the payments industry. From financial institutions alike, to eCommerce, integrated payments and merchant services, Singular Payments keeps an active pulse on the ins-and-outs and always passes along any information with as much transparency as possible to keep merchants informed and empowered.
Through many of our educational blogs last year we talked about the variety of fees and rates other processors charge and the hundreds of card types out there that make up your qualified and nonqualified rates when you are paying under a tiered or cost-plus pricing model. We covered reading your credit card processing statements, decoding the language in the industry which is purposefully confusing, and what makes our custom flat rate program stand out from the rest.
Maximizing holiday profits is the name of the game this season. And whether you’re a retailer or a dentist this can be a busy time of year. The National Retail Federation is forecasting holiday sales this year to increase 3.6% over last year to $655.8 billion. Here are some tips to make the most of the hustle and bustle from a credit card processing perspective. There are some simple things you can do as a merchant that can lower your credit card processing fees and get customers back in the door after the New Year as well. Cheers to a busy holiday for you all!
Holiday sales for 2016 are expected to increase by 3.6 percent. This forecast number is above the 7-year average of 3.4 percent since the recovery began in 2009. According to the National Retail Federation "with retail's big weekend approaching, the latest consumer survey conducted by Prosper Insights found that 55.7 percent of shoppers have already started buying holiday gifts. More than six in 10 shoppers will buy clothing and accessories, 56 percent plan to give gift cards and 44 percent plan to give books.
In 2016 a high profile restaurant chain along with a clothing retailer and group of hotels have all reported data breaches arising from malware designed to swipe credit card numbers. Wendy’s, Eddie Bauer and Kimpton Hotels are now taking the advice of security experts who encourage several different approaches to keeping business transactions safe from point-of-sale-related attacks.
With the days of dial-up behind us, CardConnect has pioneered the latest generation of P2PE IP secured terminals, which all Singular Payments’ customers can now access free for the life of their merchant relationship. Furthermore, CardConnect will also be powering the technical support behind Singular Payments portfolio starting early next year since they have exceptionally well-trained support personnel. Beginning in January 2017, all of Singular Payments merchants will be directed to call CardConnect at 1.877.828.0720 (Opt 1 Tech Support/ Opt 2 Merchant Support) or email email@example.com for customer service and support questions.
MasterCard recently announced a new fee that will be billed on a per location basis. This Location Fee will be $7.50 per location for 2016 and will be billed to your account by the end of the year. Why? Because they can. The answer is that simple. Each year the card associations meet as new regulations come down on them, to review the interchange and make “what they deem” the appropriate adjustments to keep rates, rewards and fees all in line for all parties involved.