APS Blog

4 Tips to Understanding Merchant Statement Fees

Posted by Patty Benitez on Nov 26, 2018 3:23:31 PM

Understand how you can reduce merchant statement fees and save money!

Are you getting the best rates with your merchant services provider?  How would you know?  As a merchant, you have options when it comes to merchant service providers. The cost of processing credit cards can get out of hand if you are not able to keep a close eye on your monthly merchant statement. If you think your monthly credit card processing merchant statements are confusing, you are not alone. It is very possible that your merchant statement is confusing by design. If you look into your processing fees and start rate shopping, you might find some good reasons to switch to another processor.

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Topics: Level 3, Credit Card Processing, PCI Compliance

What is Level 3 Credit Card Processing?

Posted by Patty Benitez on Nov 7, 2018 1:05:51 PM

How can my business benefit from Level 3 processing?  

One common question that our team at American Payment Solutions (APS) receives from many merchants is, “What is the difference between Level 1, Level 2, and Level 3 processing?”

Selecting the right processing level for your business simply requires understanding how much data you are able to provide about your transactions. The more data provided to Mastercard and Visa, the higher the savings.  Offering more data results in added security and protection from fraud as well as lower credit card transaction fees. As explained below, Level 3 processing provides the best security and requires the most data.

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Topics: Level 3, Credit Card Processing, PCI Compliance

NAPS: Multi-Currency Payment Processing for U.S. and Canadian Entities

Posted by Devon Lildhar on Aug 30, 2018 1:03:47 PM

Multi-Currency payment processing for an integrated ERP solution can be hard to come by, leaving your organization to process credit cards outside of the ERP. If you are a Canadian or U.S. company with subsidiaries on either side of the border, then it is likely that you need integrated payment solutions to maximize your efficiency.  

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Topics: Credit Card Processing

3 Critical Items to Look For in an Integrated Payment System

Posted by Patty Benitez on Aug 16, 2018 7:05:53 PM

Payment system brands are offering strong incentives in return for credit card payments. This makes credit cards a preferred way of making payments.  If you are in business today you probably accept credit card payments.  While it is relatively easy to get started accepting credit cards, it's not as easy to get the lowest rate and maintain PCI compliance.  There are 5 basic items to look for in a payment system provider.

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Topics: Credit Card Processing

Is Your Business Ready for the Future of PCI Compliant Credit Card Processing?

Posted by Patty Benitez on Jun 21, 2018 9:51:04 PM

 7 Growing Credit Card Processing Trends Transforming the Payments Industry 

  1. In-store mobile payments are expected to overtake credit cards and grow from $75 billion to $503 billion in 2020
  2. The top mobile wallets used at small and medium businesses are Apple Pay (16.6%), Google Wallet (516.0%), Android Pay (%11.3%), and Samsung Pay (8.2%).
  3. The top 3 payment methods of online shoppers are credit cards (42%), electronic payment (39%), and debit cards (28%).
  4. There will be 27.7 million mPOS devices in circulation in the U.S. by 2021, an increase from 3.2. million in 2014.
  5. Over the next 5 years, blockchain technology is expected to reduce the costs of accounting reconciliation by 70% and compliance costs by 30-50%.
  6. Enhanced customer experience is the future of payments, as more than 60% of Millennial and Gen Z consumers are willing to share their bank account credentials with third parties.
  7. Biometric authentication such as fingerprint ID and facial recognition will be used in more than 18 billion transactions by 2021.

Source:  http://paymentsjournal.com/7-trends-for-the-future-of-payment-processing/.

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Topics: Credit Card Processing, PCI Compliance

APS Supports TLS 1.2 in Sage 100 4.4, 4.5 and Subsequent Versions!

Posted by Patty Benitez on Jun 6, 2018 6:39:47 PM

According to posts on the internet and information gleaned from our Channel Partner Network it would appear that on May 2nd, 2018 Sage 100 versions 4.5 and prior, formerly MAS 90 and MAS 200, could no longer process credit cards through Paya, formerly, Sage Payment Solutions.  Most companies on these versions of Sage 100 mentioned they had a processing blackout for over 24 hours, some even longer.  It is currently unclear whether the companies using these versions have abruptly been forced to stop processing or whether they will be forced to stop processing as of June 30, 2018 the last day the card brands will allow transactions to flow on any TLS lower than TLS 1.2.   

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Topics: Credit Card Processing, Sage 100 Credit Card Processing

Acumatica Credit Card Processing:  PROS and CONS Behind Flat Rate or Tiered Pricing

Posted by Patty Benitez on Jun 4, 2018 1:08:06 PM

There are a few main types of credit card processing rates with their own advantages and disadvantages. There are flat rates, tiered pricing rates, interchange plus rates, Level 1, Level 2 and Level 3 processing rates. 

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Topics: Acumatica, Credit Card Processing

7 Items to Consider When Switching Merchant Services Providers

Posted by Patty Benitez on Jun 4, 2018 12:44:48 PM

Read this article before switching merchant service providers.

Switching merchant services providers may seem like a hassle if you are switching to save money it’s worth it and your new provider should make it as painless as possible.  However, there a few important items to consider when making the switch.  Credit card processing is a commodity, companies usually switch for a few main reasons; to get better rates, enhanced integration, superior support and/or to ensure PCI compliance

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Topics: Credit Card Processing

Visa Claims Resolution (VCR), Credit Card Processing Chargeback Process Transition

Posted by Patty Benitez on May 2, 2018 9:01:00 AM

Credit Card Processing Chargeback Process to Transition from Litigation Based to Liability Assignment Based Model 

If you understand that “change is the only constant in life,” then it’s no surprise Visa introduced the new Visa Claims Resolution (VCR) on April 15, 2018 to simplify the credit card processing chargeback process.  In business, change is often painful but required to adapt to the rising cost of doing business.  Merchants are now figuring out how to adjust to this recent change that Visa made to the rules.  We hope this blog helps assist you in your transition to the new rules in handling Visa credit card processing chargeback disputes and the new time-frames allowed to process those disputes.

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Topics: Credit Card Processing, Visa Chargeback Process

Credit Card Processing PCI Compliance in 12 Steps

Posted by Patty Benitez on Apr 30, 2018 11:08:00 AM

Credit Card Processing PCI Compliance:  What can you do to protect cardholder data and meet security standards?

There is no easier way to become PCI Compliant than working with the experts at American Payment Solutions.  Back in the old days, criminals would rob banks and trains full of cold hard cash.  These days, criminals try to steal credit and payment card data from exposed networks among other modern-day tactics that leave companies and card holders vulnerable.  They are constantly searching for victims.  Thankfully, the Payment Card Industry Data Security Standard (PCI DSS) was developed in accordance to credit card processing PCI Compliance standards with several layers of protection against theft. Here are 12 steps you can take to protect your cardholder data and facilitate the broad adoption of consistent data security measures on a global scale.

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Topics: PCI Compliance, Credit Card Processing