Merchant Updates Blog

Spring Bankcard Association Meeting is Upon Us

Posted by Danielle Lafontaine on Feb 21, 2018 9:21:02 AM

Twice a year the Interchange Association (commonly referred to as Bankcard Association) gathers top leadership to review interchange rates and card processing fees to assess any needs to modify pricing structures. Mastercard and Visa make up the existing bankcard associations. Their purpose is to establish and administer the rules and regulations governing the credit card business. Discover and American Express are similar but not technically associations since they are single companies. It’s at these biannual meetings that interchange rates for all card types from the major card brands, Visa and Mastercard, determine the dominate interchange rates by which all credit card processors must pay. There are hundreds of card types and therefore hundreds of corresponding interchange rates so what these meetings do is assess if the interchange pricing attached to each are effectively covering costs as infrastructure, security, and other variables change.

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Topics: interchange association, bankcard association

let your customers do the talking

Posted by Nina Pioletti on Jan 31, 2018 10:34:28 AM

thumbsup-testimonials.jpgThe days of slick sales pitches and crafty advertising are still around, but every industry needs to back up their claims with customer reviews. Reviews, case studies, and customer testimonials are the most valuable tool in your marketing toolkit because according to statistics, 90% of respondents who recalled reading online reviews claimed that positive online reviews influenced buying decisions (Dimensional Research). Furthermore, 85% of consumers said they read up to 10 reviews before feeling they can trust a business. (Search Engine Land) And, 39% of consumers said they read reviews on a regular basis to determine whether a local business is a good business. (Search Engine Land)

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Topics: testimonials, content marketing, banyan

Payment Data Systems Earns NACHA Third-Party Sender Certification

Posted by Wayne Gonzales, CFE, CFI on Jan 17, 2018 9:11:54 AM

Nacha-Certified-Logo (2).jpgYesterday, Payment Data Systems, Inc. (“PDS”) announced the achievement of National Automated Clearing House Association (“NACHA”) Certified Third-Party Sender. NACHA Certified is a voluntary accreditation program for Third-Party Senders in the ACH Network that demonstrate to the industry, including Originating Depository Financial Institutions (ODFIs), originators, and their peers, that they are meeting strict standards established by NACHA that signal credibility quality, and strong core practices.

 

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Topics: nacha certified, ach processing, ach certification

The Revenue Power of Monthly Residuals

Posted by Ben Kauder on Jan 10, 2018 5:01:00 AM

residual income.jpgLike every business out there, software companies are always trying to find ways to earn ongoing monthly residual revenue. That’s the gold standard because it’s ‘set it and forget it’ and the checks roll in every month, aka “mailbox money”.  Implementing a payments integration is one of those ‘Ah ha!’ easy ways to get that residual revenue flowing. The problem for a VAST MAJORITY of software developers is how many of your clients (users of your software product) are actively using your integrated payment processing solution? Based on industry statistics we know that if you have 20-30% penetration then you are in the top 5% of software developers.

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Topics: scope of work, integrated payment processing, software developer, software solution, software developers, automated onboarding, payfac automation

Payments Projects for the New Year

Posted by Danielle Lafontaine on Jan 3, 2018 10:33:17 AM

Now that the holiday rush is over and you’re back at work focused on improving your business and operations we have some ideas to help you save time, money and improve customer retention by upgrading how your customers pay. Giving your payments infrastructure a tune-up is a surefire way to spark a productive and profitable new year.

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Topics: ACH, hosted payment page, akimbo card, payments software integration, ebpp, new terminal, singular payments

2018 Payments Predictions & Trends

Posted by Danielle Lafontaine on Dec 27, 2017 8:28:58 AM

Closing out 2017 and looking forward to a bustling 2018 in the payments and payment facilitator space we’ve seen a lot of movement regarding platform rationalization due to technology consolidation. Every major player is buying pieces of the puzzle to become the complete end-to-end solution. For example, the following major mergers and acquisitions took place recently. In April of 2014, to kick off the M/A frenzy in payments, Vantiv bought Mercury.

 

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Topics: payments predictions, payments acquisitions, stripe, like stripe, payment data systems, singular payments, custom payments integration

Run Rebates and Rewards with Akimbo Card

Posted by Danielle Lafontaine on Dec 20, 2017 6:01:00 AM

If upping your marketing and incentive rewards game in the New Year is on your list then you need to check out the Akimbo Card program. Akimbo is now part of the Singular Payments + Payment Data Systems Family and we’re excited to share it with you!

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Topics: prepaid cards, akimbo card, prepaid mastercard, incentive cards, reward card, rebate card

WE DO IT ALL | FOR REAL

Posted by Nina Pioletti on Dec 6, 2017 10:07:34 AM

Much like all customer-focused companies, we are in the business of continuous improvement and we appreciate all the merchants who have faith in our vision of transparency through the Flat Rate model. But in addition to the in-person and online processing, that all our merchants know and love, we have found that we could have done a better job for you by driving home that we are in fact a full circle payment solutions provider. Not just a credit card processor.

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Topics: merchant services, flat rate, flat rate credit card processing, ACH, same day debits

Scoping Out Your Ideal Payments Integration

Posted by Danielle Lafontaine on Nov 29, 2017 8:29:01 AM

One of the most fun things we get to do with software developers is go through a scope of work call to review all the bells and whistles of our APIs that they want to integrate into their software solution to WOW their merchant users. Through this process, we explore a variety of the goals and objectives of the integration to ensure once we map out the plan everyone is getting what they want. It’s kind of like building your Christmas list for Santa – but better because you make money on this endeavor month after month in recurring revenue share.

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Topics: scope of work, custom payments integration, payments integration, electronic payments

Tips to stop fraud and avoid chargebacks this holiday season

Posted by Danielle Lafontaine on Nov 22, 2017 5:02:00 AM

Chargebacks will suck the cheer right out of your holiday sales this season which is why we’ve compiled a list of tips to avoid them whenever possible. Reportedly 86% of all chargebacks are probable cases of ‘friendly fraud’ or mistakes by the customer, and at the current rate, friendly fraud will cost merchants upwards of $25 billion a year by 2020. Fraud attempts rose 33% in 2016, while successful fraud attacks increased 32%. Merchants lose out on $118 billion in sales due to false positives each year. So read on because this is important stuff!

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Topics: avoid chargebacks, emv fraud liability, credit card fraud, holiday fraud, holiday merchant tips

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