Novera Payment Solutions

A story in the NY Times on July 25^th reported that a gang of hackers stole and sold 160 million credit card numbers from more than a dozen companies.  The crime originated out of Russia and the Ukraine and caused hundreds of millions of dollars in losses.

Criminals have become very sophisticated and you need to be vigilant that your credit card or your personal information is not being used for fraudulent activity.

In previous posts we discussed the importance of protecting cardholder data. As a business owner, you are also a consumer ... so what should  you do if YOUR credit card information is compromised?

Report the Loss or Theft Immediately

• Act fast to limit your liability for charges you did not make
• Most companies have a toll-free number and 24 hour service to report stolen cards
• Once reported, you cannot be held liable for any other unauthorized transfers/purchases after you report the issue
• Follow up with a letter or email
• Check your statement carefully
• Check to see if your homeowner’s or renter’s insurance covers the liability

What is your maximum liability?

If someone does use the stolen credit card before you report it, you may still have some liability.  Here are the thresholds of liability:

• If you report the card loss before any unauthorized charges are made, your liability is zero
• If you report within 2 business days after you learn about the loss, your liability is $50 maximum
• If you report the loss more than 2 business days but less than 60 calendar days, after your statement is sent to you, your liability is $500 maximum
• If you report more than 60 calendar days after your statement is sent to you, then you are liable for all money taken from your account and possible more (money in accounts linked to your debit account)

How to Protect Your Cards and Account Information

For Credit and ATM or Debit Cards

• Don’t disclose your account number over the phone unless you initiate the call.
• Guard your account information. Never leave it out in the open or write it on an envelope.
• Keep a record of your account numbers, expiration dates, and the telephone numbers of each card issuer so you can report a loss quickly.
• Draw a line through blank spaces on charge or debit slips above the total so the amount can’t be changed.
• Don't sign a blank charge or debit slip.
• Tear up copies and save your receipts to check against your monthly statements.
• Cut up old cards — cutting through the account number — before you throw them away.
• Open your monthly statements promptly and compare them to your receipts. Report mistakes or discrepancies as soon as possible.
• Carry only the cards you'll need

A final piece of advice – protect your PIN carefully if using ATMs or Debit Cards.  Don’t carry the PIN with you (or on your phone).

For more information on protecting yourself and your identity, visit http://consumer.ftc.gov.

About Novera Payment Solutions

Novera Payment Solutions is well known as a leader in the credit card payments industry and is committed to helping businesses improve their bottom line by providing significant savings on credit card processing fees through our innovative flat fee merchant account pricing model.

Novera Payment Solutions Advantange

• Novera Payment Solutions's consultative approach allows us to thoroughly educate our clients, equipping them to better understand this complicated industry.

• We take the mystery out of the credit card processing business.

• We work with all types of businesses across the country.

Contact Novera to learn more about how we work with businesses  to provide the most fair and transparent pricing structure available on the market today for credit card processing.

Google Introduced Hummingbird to the World on its 15th Anniversary

Yes, Google has done it again.  On the 15^th anniversary date of the company, the world’s most used search engine announced a new ranking algorithm called “Hummingbird.”  It is designed to give users faster query results and it is focused on user actually wants versus individual search terms. 

According to Google, this is the most dramatic algorithm change since 2001 and is a complete replacement of the old algorithm.

So what does that mean for your business? 
It means that if you are not creating original, deep, subject-relevant content often for your website and your social media channels, you may be falling behind.  The Hummingbird algorithm no longer uses the old approach of looking at each individual keyword in a Google search. Instead it looks at the query as a whole to process the meaning behind it.

According to Google, Hummingbird considers over 200 signals when determining a rank for a website. Traditional SEO practices are not necessarily dead … they are just not as relevant with this algorithm.  Building a trustworthy social media sphere that has hundreds (if not thousands) of fans and followers who interact with your content allows Google’s Hummingbird algorithm to better see your site, trust it as a recognized authority, and rank it appropriately for terms related to your business.

Here is An Example
With the old Google algorithm, if you searched for a long tail term like “who is the best provider of internet merchant accounts”, Google would look at each individual word in the string and factor in its relevancy with content, links, and meta-tags on websites to the return the results.  As its being described, with Hummingbird, Google attempts to find the most relevant results to the entire question by looking at content on websites along with associated social channels and social signals to indicate which sites reflect the best answer to this question. 

The Hummingbird algorithm is also geared toward displaying more relevant results to mobile users. 63% of all adult cell phone owners use their phone regularly to go online (according to socialmediatoday.com).  If you don’t already have mobile website, it may be time to consider one!

This algorithm change may not affect some businesses.  If your company website was already ranking poorly, you probably will not see a change.  If your business website was ranking well and you do see a drop in your traffic as a result of the algorithm change, talk with your webmaster.  It may be time for your business to develop a better social media and content strategy for your online presence.

About Novera Payment Solutions

Novera Payment Solutions is well known as a leader in the credit card payments industry and is committed to helping businesses improve their bottom line by providing significant savings on credit card processing fees through our innovative flat fee merchant account pricing model.

Novera Payment Solutions Advantange

• Novera Payment Solutions's consultative approach allows us to thoroughly educate our clients, equipping them to better understand this complicated industry.

• We take the mystery out of the credit card processing business.

• We work with all types of businesses across the country.

Contact Novera to learn more about how we work with businesses  to provide the most fair and transparent pricing structure available on the market today for credit card processing.

According to the PCI Security Standards Council, more than 340 million computer records containing sensitive personal information have been involved in security breaches in the U.S. since 2005, and more than 80% of the attacks targeted small merchants.

Why do thieves target small merchants?

Because small businesses tend to have more lax security standards when it comes to protecting card holder data.

Back in June 2013, we wrote a blog about PCI Compliance for Auto Dealerships. That fact is, the information in that blog post applies to all merchants. READ IT HERE

If you are at fault for a security breach involving card holder data, the fallout and penalties can be severe for your business.

If you accept credit cards, here are 7 reasons why you should care about protecting card holder data:

1. At minimum, loss of consumer confidence. If your business is involved in a data breach, consumers may go somewhere else.
2. Lost sales. When the news hits that your business has had a data breach, sales can decline dramatically as a result of lost consumer trust.
3. Termination of your ability to accept credit cards. The ability to accept credit cards at your business can be revoked by your provider.
4. Fines and penalties. The payment brands may, at their discretion, fine an acquiring bank $5,000 to $100,000 per month for PCI compliance violations. The banks will most likely pass this fine on downstream until it eventually hits the business owner.
5. Legal costs, settlements and judgments. Needless to say, in the event of a data breach, your busineses may be subject to legal action.
6. Cost of reissuing new payment cards and subsequent costs of compliance. It is important to be familiar with your merchant account agreement, which should outline your financial exposure.
7. Going out of business. Simply by reviewing items one through six in this list, it's easy to see why this can be catastrophic for a small business.

As a merchant, you are at the center of credit card payment transactions so it is imperative that you use standard security procedures and technologies to thwart theft of cardholder data.

If you need help navigating the PCI Compliance maze for your business, Novera Payment Solutions can help.

We take the mystery out of the process and requirements, as well as help ensure that your business is fully compliant.

Get Social and Get Found

One of the biggest changes online we have seen over the last 24 months is the way that Google is factoring social reach as it ranks websites. Your website may be perfectly optimized for the keyword phrases your business needs to rank well for, but if you are not continually developing great content and consistently working to build your social reach, your competitors may be dominating you in the Google rankings.

Steps To Take Today

According to Social Metrics Pro, there are 25 social signals that Google is tracking. Considering these factors and improving your efforts in each can help optimize your web presence for better search visibility. Check out the article for all 25 signals, but here are four steps you should take today:

1. Get on Google+
   This platform is weighed by Google whether you have many people in your circles or not.  Google+ is weighing heavily the social signals from its own social network.
2. Facebook Rules...Grow Your Following
   The number of fans, comments, shares, and likes may influence search rankings more than Google+ or Twitter
3. Don’t Ignore Twitter
   The number of followers, tweets, retweets and mentions will make a difference with this social media giant.
4. Reach Out on Other Social Channels
   Don’t forget about Pinerest, Reddit, Digg, StumbleUpon and FourSquare.  These all have the ability to help your rankings and Google does measuring signals from these channels.

Quality Content is King

Google eats up GREAT content.

When developing content, Social Metrics Pro recommends that you:

1. Focus On User Experience
   Provide interesting and relevant content. Include relevant keywords where it makees sense, but write for the end user, not for Google.
2. Get Social
   Engage your visitors by asking them to share your content, replying to their comments or Tweets, and organizing on-line events
3. Build Connections
   Associate with other people and websites who are leading authorities in your business field.  Become the local expert and become part of an established social group.

Take One Bite at a Time

We all know the joke about how to eat an elephant. While social media is technically "free", it takes time ... it's the elephant. Start with one channel at a time, be consistent and provide top notch content to grow your fans and followers.  Link back to your website when appropriate, but don't "sell". Instead, provide value. The sales will come as a result.

With a consistent effort, over time, you will be amazed at how your content and social strategy will improve the search engines rankings for your business website.

The bottom line ... better search engine rankings lead to more traffic across your web presence ... which, in turn, grows sales!

About Novera Payment Solutions

Novera Payment Solutions is well known as a leader in the credit card payments industry and is committed to helping businesses improve their bottom line by providing significant savings on credit card processing fees through our innovative flat fee merchant account pricing model.

Novera Payment Solutions Advantange

• Novera Payment Solutions's consultative approach allows us to thoroughly educate our clients, equipping them to better understand this complicated industry.

• We take the mystery out of the credit card processing business.

• We work with all types of businesses across the country.

Contact Novera to learn more about how we work with businesses  to provide the most fair and transparent pricing structure available on the market today for credit card processing.

Did you know that as of January 27, 2013 it became acceptable for merchants to impose checkout fees on credit card purchases made by their customers using Visa and MasterCard credit cards? The decision was a result of a class action law suit, and the idea is that it allows merchants to offset the cost of their credit card processing fees by passing a percentage (in the form of a surcharge or checkout fee) through to the consumer.

Is this the right move for your business?

There are advantages and disadvantages to implementing a checkout fee.

The basic advantage is pretty clear. You may improve your bottom line by passing a percentage of the processing fee to the customer as a surcharge or checkout fee.

The disadvantages should be weighed carefully, however. With credit card use so prevalent, additional charges for their use may turn your customers away, especially if your typical transactions are higher dollar amounts. As an example, a consumer may not think twice about a 4% surcharge on a cup of coffee, but if they are purchasing a vehicle or paying for a pet surgery it's a different story entirely.

Even if your typical transaction fees are lower dollar amounts, consumers using credit cards tend to spend more per transaction than those paying with cash. If you incentivize customers to pay with cash, you may offset the credit card processing fees but your total sales volume may decrease.

Know the Laws & Requirements

It's important to know State laws, as well as requirements set by VISA and MasterCard if you do decide to implement checkout fees in your business.

If your business operates in CA, CO, CT, FL, KS, ME, MA, NY, OK, TX, state laws prohibit checkout fees on credit card transactions. If you operate your business in multiple states, you can surcharge the credit card transactions in those states where the practice is not illegal only. More states have legislation pending banning checkout fees, so be certain you know the current law for each state in which you operate.

Additionally, VISA and MasterCard have their own requirements of merchants who intend to charge checkout fees. You must notify both VISA and MasterCard of your intent, as well. Both require 30 days advance notice. It's important to know and understand all requirements.

• MasterCard's Merchant Surcharge Rules
• VISA'S Merchant Surcharge Rules

Ask for Help

Novera Payment Solutions is a leader in the credit card payments processing industry. If you are unsure if surcharging is a good move for your business, don't hesitate to contact us. A possible alternative to surcharging is to take control of your credit card processing costs and take steps to reduce them.

Novera Payment Solutions is well known as a leader in the credit card payments industry and is committed to helping businesses improve their bottom line by providing significant savings on credit card processing fees through our innovative flat fee pricing model.

Novera Payment Solutions Advantange

• Novera Payment Solutions' consultative approach allows us to thoroughly educate our clients, equipping them to better understand this complicated industry.

• We take the mystery out of the credit card processing business.

• We work with all types of businesses across the country.

Contact Novera to learn more about how we work with businesses to provide the most fair and transparent pricing structure available on the market today for credit card processing.

A Case Study Demonstrating How the American Physical Therapy Association Private Practice Section Achieved Savings with Flat Fee Merchant Accounts & Novera's Revenue Maximizer Technology

APTA Private Practice Section Mission

The mission of the APTA Private Practice Section is to Champion the success of physical therapist-owned businesses. As leaders and innovators in the health care system, PPS members are empowered to achieve management excellence and financial success. PPS always explores new models of practice, innovative ways of doing business, and ways to leverage opportunities in the changing health care environment.

About Novera Payment Solutions

Designed to bridge the gap between the tremendous brand and buying power of WorldPay combined with the sales and service experience of your smaller home town business, Novera was founded to bring the capabilities and commitments from a large service provider, and the reality of what is actually experienced from a merchant service provider to their clients. Novera specializes in partnerships that create a triple win -for the partner, the partner’s member and Novera.

Background

Among other priorities, the PPS offers discounts on the section’s regional education, webinars, publications, business and insurance programs, the section’s premier annual conference and exposition, administrator’s certification educational programming, and key affinity partners. The Association prides itself on proprietary relationships not available through other sources thereby creating added value to a membership in the PPS.

The PPS was constantly approached by merchant services providers committing the “best rates” and “the lowest fees”. PPS board members were always skeptical of such claims and for years, decided NOT to have a merchant services partner.

The Challenge

Novera approached the PPS in 2011 with a unique pricing program and a technology suite of payment tools designed to help reduce individual practice receivable’s and increase cash flow right at the POC.

The Executive director informed NPS of the board and associations skepticism and declined any offer to promote a “me too” product such as payment processing to its members because of a strict policy that only offers not available to the public be promoted to PPS members. In short, the PPS wanted programs over and above traditional offers available anywhere else.

The Value Proposition

Novera created a Flat Fee merchant account pricing program that when compared to a traditional tiered rate and fee structure produced monthly savings on credit card processing that NPS representatives would direct toward investment in new payment collection technology.

Revenue Maximizer

The Revenue Maximizer, a HIPAA compliant virtual payment terminal designed specifically for healthcare providers, allows you to tie the patient account, provider, location, and department and claim ID to the payment transaction. You can also view payment activity for multiple locations on one system, from just one merchant account.

Features Include

• Processes major credit and debit cards (VISA®, MasterCard®, American Express® and Discover®).
• Maintain a Card on File for one time payments or recurring payments plans.
• Ability to send emails to patients regarding transactions.
• Supports direct debit from patient’s checking or savings account and converts paper checks to electronic funds transfers.
• Generates detailed transaction reports by patient, office location, provider and date.
• Protects patient information using standard security and operational standards to protect card and account holder data and processes all transactions with PCI Level One Certified partners.
• Replaces your current credit card terminal... no more expensive dedicated phone lines. Best of all, the Revenue Maximizer can be up and running within minutes—without any expensive equipment, lengthy training or change to your billing or practice management system.
• Manage payments with online reporting.
• Allow patients to make payments online via the Patient Payment Portal.

Revenue Maximizer Plus

The Revenue Maximizer Plus offers all of the credit card payment and reporting functionality of the core product, the Revenue Maximizer, and adds critical tools necessary for providers to accurately estimate patient financial responsibility at the point of service:

• Web-based, real-time health plan eligibility verification at the point-of-care
• The system features “Advanced Payer Logic” providing customers with customized STC control resulting in a superior patient estimate.
• Determines in minutes what the patient owes, rather than days.
• Shows remaining deductibles, co-pays and coinsurance.
• Calculates patient charges against contracted rates with national and regional payer’s
• Produces a patient-friendly estimate of the patient responsibility.
• Ability to send emails to patients regarding transactions
• Integrates with leading Practice Management Systems to create true interoperability

After the solution was demonstrated and proposed, The PPS board approved the partnership and agreed to promote Novera Payment Solutions and the technologies to its membership at large for flat fee credit card processing.

Members can gain access to the program by visiting www.noverapaymentsolutions.com/pps .

Today Novera Payment Solutions is the exclusive recommended provider for merchant service accounts to the APTA/PPS membership!

Advances in technology have turned simple mobile phones and tablet devices into powerful computing tools. Today, comsumers are using their phones and tablets for everything from getting directions, finding the cheapest gas, sharing photos and videos in real time, reading reviews, and paying for purchases. 

If your business has not yet entered the realm of accepting mobile payments, here are five reasons why you should start accepting mobile payments now.

1. The proliferation of mobile phone across the globe will drive mobile commerce. According to Cisco, by 2015 788 million people will be using smart-phone only browsers.
   
   
2. The growth in mobile payments by 2015 is expected to explode.
   According to Juniper Research, $670 billion worth of global mobile transactions is expected. Yankee Group projects that number at $1 trillion.
   
   
3. More adults than ever own tablet computers.
   According to the Pew Research Center’s Internet & American Life Project, more than 30% of US adults own a tablet-based computer, such as the Apple iPad, Samsung Galaxy Tab, or other model.
   
   
4. Market indicators show nothing but growth in the future of tablet-based eCommerce.
   comScore estimates that tablet-driven ecommerce sales account for approximately 12 per cent of eCommerce this year. Additionally, eMarketer estimates that tablet-based eCommerce could surpass $24 billion in the U.S. by the end of 2013 and surpass $50 billion 2016.
   
   
5. Tablet Owners are Grown Gen-Xers & Gen-Yers, Affluent, and Educated.
   Again, according to Pew Research, “...almost half (49 per cent) of adults ages 35-44 now own a tablet computer, significantly more than any other age group.” College educated adults topped the largest percentage of tablet owners, and households with incomes of $75,000+ own at least one tablet device in their household.

Clearly, the time to get started with mobile payments is now.

Novera Payment Solutions is leading the way in helping businesses get setup to accept mobile credit card payments. As a leader in the credit card payments industry, Novera is committed to  businesses improve the bottom line by providing significant savings on mobile credit card processing fees through our innovative flat fee pricing model.

The Novera Advantange

• Novera’s consultative approach allows us to thoroughly educate our clients, equipping them to better understand this complicated industry.

• We take the mystery out of the credit card processing business.

• We work with all types of businesses across the country.

• One of our specialities is mobile payment solutions.
  

Contact Novera to learn more about how we work with businesses to provide the most fair and transparent pricing structure available on the market today for credit card processing.