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Payment Processing 101 forSmall BusinessesPresented by:Download slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101Kathleen ErvinRon DemmansDownload slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101Download slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101We find savings for over 70% of NFIB members an average savings of 1,352 a year!Download slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101 An introduction to the world of payment processing Payment processing solutions Tips on the best payment processing tools for yourbusiness What to look for to get the best pricingDownload slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101Payment ProcessingA non-cash transaction used for the payment ofproducts or servicesDownload slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101Download slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101Credit Cards vs. Debit CardsDownload slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101Download slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101Credit Cards vs. Debit CardsDownload slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101Debit cards can be processed in two ways: With the usage of a cardholder PIN Without the usage of a cardholder PINDownload slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101ConsumerCommercialInternationalDownload slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101Consumer Credit CardsIssued to consumers and enables the cardholder to makepurchases against a predetermined line of creditDownload slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101Commercial Credit CardsIssued to businessesDownload slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101International Credit CardsIssued by banks that are governed outside the UnitedStatesDownload slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101InterchangeWholesale pricing structure established by themajor card brandsDownload slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101Over 300 different pricing levels that are calculated by: Type of card Entry method Amount of data passedDownload slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101ALL credit card processors have the same interchange coststructure that makes up their wholesale costs for processingDownload slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101What are your rates?Download slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101One size does not fit allDownload slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101Know your ratesDownload slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101Download slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101The Bucket SystemDownload slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101Bucket 1:Swiped check card/signature debit is the lowest rateDownload slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101Bucket 2:Qualified rate applies to consumer credit cards that areswipedDownload slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101Rewards CardsDownload slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101Bucket 3:Mid-qualified rate applies to consumer credit cards thatare keyed-in (aka card not present)Download slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101Bucket 4:Non-qualified rate applies to International cards andsome corporate cardsDownload slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101DowngradesOccur when one or more of the following requirementshave not been met: Not settling the transaction within 24 hours of the initial authorization Failure to attempt address verification on manually keyedtransactions Failure to charge sales tax on a transactionDownload slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101Download slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101Charge-BackA card holder has up to 180 days from the statement dateto dispute what you charge them.Download slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101Merchant ProcessorHandle the transmission of payment data that isnecessary to authorize and settle credit card transactions.Download slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101Payment ProcessorCompany appointed by a merchant to handle credit anddebit card transactionsDownload slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101Annual CheckupDownload slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101How to get the best rate for your payment processing Don’t be fooled by a low rate. Read your merchant statements. Watch out for lengthy contracts with early termination fees. Get your annual rate review. Know the “Ten Questions to Ask Your Processor.”Download slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101Download slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101Sign right on your phone’s screenDownload slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101Virtual TerminalA Web gateway that permits you to process all of yourpayments – cards, ACH, recurring payments –through your computer.Download slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101Automated Clearing House (ACH)Also known as “eCheck” is an inexpensive alternative tocredit card payments. Transactions are direct debits to acustomer’s bank accountDownload slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101Recurring PaymentsThe ability to charge your customer by credit card or ACHby automatic billing.Download slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101Download slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101VerificationGuaranteeConversionDownload slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101Check VerificationVerifies if the check writer has previous outstandingunpaid bad checksDownload slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101What to look for in check verification Use a provider that uses the largest national database possibleand make sure the database has a large amount of merchants inyour areaDownload slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101Check GuaranteeYour check insurance policy - makes sure you getpaid for a returned checkDownload slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101How to get the best price for check guarantee Look for monthly minimums and statement fees. Look for a provider that has a liberal check acceptance policy. Be clear about what checks are not covered.Download slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101Check ConversionConverts the check into an ACH payment (eCheck)canceling the paper check.Download slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101Remote Deposit CaptureNever go to the bank again. Scan paper checks intoa bank account.Download slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101Go Learnwww.solveras.com/NFIBDownload slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
as.comRon@solveras.comDownload slides at: e on Twitter: Follow @nfiblive and use hashtag #nfiblive
Payment Processing 101 Credit Cards vs. Debit Cards . Participate on Twitter: Follow @nfiblive and use hashtag #nfiblive . Payment Processing 101 ALL credit card processors have the same interchange cost structure that makes up their wholesale costs for processing .
