Novera Payment Solutions

Is Your Business Website Mobile? 

Most Popular Devices

Some interesting statistics on the most popular devices that people are now using to search the internet: 

Google Comes in to Play April 21

What does this mean for your business?

Having a stand-alone mobile website enables you to get in front of the huige mobile marketplace and display your important business information clearly and quickly to a mobile users.  This can lead to better sales conversions for your business. Plus, with Google's recent announcement, it may also mean that you website will rank better than it was without a mobile-friendly version.

About Novera Payment Solutions

How does EMV apply to payment gateways?

Some merchants connect to their payment processor through a payment gateway. Gateways used for card-present transactions will also need to undergo EMV testing and certification. Note that eCommerce payment gateways, which operate in a card-not-present environment, will not need changes for EMV.

What should merchants consider before making a POS device purchase?

Merchants should understand EMV-compatible POS device capabilities. POS devices that incorporate the EMV standard will be able to use up to four cardholder verification methods:

• Signature
• Online PIN
• Offline PIN
• No CVM

Determine if the new POS device that you’re considering will have contactless payment capabilities. Many POS devices bundle EMVcapable and contactless (NFC) payment features. This may allow you not only more secure transactions but also more ways to accept payments in the manner your customers want to pay.

What is my timeline for establishing EMV acceptance?

The payment network rules do not require you to switch to an EMV card acceptance process; however, if you do not switch to an EMV card acceptance process by October 1, 2015, you will be held responsible for the costs associated with use of a counterfeit EMV card in a card present transaction at your location.

We recommend that businesses upgrade their POS equipment to a version that is EMV “future ready.”

• For most merchants October 1, 2015, is the deadline for EMV acceptance capabilities
• For petroleum merchants using automated fuel dispensers (AFDs) October 1, 2017, is the deadline for EMV acceptance capabilities

How can a Non-EMV-compatible device accept an EMV card for payment?

EMV cards issued to US cardholders will be hybrid versions, meaning the card will have a magnetic stripe on back and chip on front. As a result, EMV cards presented for payment can still be accepted at a non-EMV-compatible POS device (payment terminal).

Is PCI DSS compliance still necessary after EMV POS devices are implemented in my business?

Yes. PCI DSS examine the payment environment and evaluate how your business accesses, transports or even stores cardholder data. PCI DSS compliance will remain a requirement.

Is end-to-end encryption (E2EE) still relevant with the introduction of EMV chipcards?

Yes. The chip in an EMV card protects individual transactions by adding a secret number only the card issuer knows, which verifies that the transaction is legitimate through an EMV-compatible POS device. However, EMV is not designed to encrypt the sensitive card information (Account Number, Exp. Date, etc.). Therefore, it is still possible for thieves to duplicate card data and create counterfeit cards that can be swiped for use at businesses that haven’t upgraded to EMV-compatible or EMV-enable POS devices or could be used with online retailers. Encryption removes this cardholder data for your POS device, which simplifies the scope of your PCI DSS obligations.

Merchants who participate in Worldpay’s E2EE program receive an indemnity waiver of up to $100,000 in total—which includes up to $30,000 in approved compromise associated costs, such as forensic audits and fines, as part of Worldpay’s PCI Program , plus an additional $70,000 if you experience a compromise as a result of the failure of Worldpay’s E2EE equipment to encrypt when used properly. Note, not all card transaction types are available for the E2EE service, and additional terms and conditions apply so contact your Worldpay representative if you are interested in learning more.

EMV capabilities along with E2EE are a great combination for highly secure payment acceptance.

What role will EMV have in payments for the online, card-not-present environment? (Internet purchases)

Currently, the EMV standard exists solely for the card-present, face-to-face environment. Worldpay will work closely with the card associations to monitor any new requirements for card-not-present transactions.

What is Worldpay’s EMV status?

• Worldpay completed certification with all major card brand networks in 2013 (Visa, MasterCard, Discover & American Express)
• Worldpay back-office systems incorporated EMV updates into the October 2014 Fall Release system updates
• Worldpay’s EMV-compatible standalone POS device solutions are available now and incorporate NFC (contactless) capabilities too: VX 520 and VX 680 (wireless terminal). Soft ware to enable EMV will be released by Worldpay before the October 1, 2015, deadline
• Testing and certification with Worldpay POS vendors is under way

 If you have additional questions, contact Novera Payment Solutions. We’re happy to help.

What makes EMV transactions secure?

Card authentication, cardholder verification and transaction authorization processes are all enhanced with EMV. Specifically:

Card Authentication: Is the card real? Unique data for each transaction travels between card, the POS device and issuer to ensure authenticity. EMV transactions also create unique transaction data, making captured transaction data incapable of being used to execute additional, new transactions.

Cardholder Verification Method (CVM): This step validates the cardholder as the legitimate owner of the card, using verification parameters set up by the issuer. The issuer of the card determines which of the following four methods will be required for a particular transaction: online PIN, offl ine PIN, signature or no CVM required. EMV supports each of these four verification methods.

Transaction Authorization: Like today’s magnetic stripe transactions, transaction information is sent to the issuer for approval. What’s different is a transaction-specific cryptogram (code) is also sent to the issuer who then either approves or declines the transaction and sends a unique response cryptogram back to the POS device for the card to interpret and validate the transaction. The dynamic exchange of information needed to execute each transaction provides the extra security missing from the static, old technology used in magnetic stripe transactions.

How many US credit cards will be EMV-enabled by the end of 2015?

The Aite Group predicts 70% of US credit cards will be EMV-enabled by the end of 2015. It also predicts there will be 4.5 million EMVcapable payment terminals in the US market by the end of 2014, and growing to nearly 7 million terminals by end of 2015. (The Aite Group, LLC, is an organization that provides research and advisory services focused on business, technology, and regulatory issues and their impact on the financial services industry.)

What are the key benefits of moving to the EMV standard?

• Improves transaction security for credit and debit card-present environments
• Creates common cardholder experience globally
• Supports multiple methods of cardholder verification (signature, pin, etc.), providing flexibility of payment acceptance without sacrificing security
• Bundles emerging technologies - POS devices with chip technology are often grouped with NFC (contactless) and mobile; EMV adoption accelerates merchant capabilities to accept payments in new ways

When can US businesses expect customers to begin presenting EMV chip cards for payment?

Now. The Smart Card Alliance/EMV Migration Forum in May 2014 estimated chip cards in the US total between 17 and 20 million. It’s important for businesses to develop EMV POS equipment adoption plans now.

Should merchants upgrade or buy new POS hardware and PIN pad devices?

Review existing POS equipment or systems to learn if upgrades are possible or whether new EMV-compatible POS hardware must be purchased.

Standalone POS. The only job of stand-alone POS is to authorize and clear payment card transactions and it is the easiest EMV solution to implement.

• Is your POS device EMV compatible? (Does it have a slot for EMV cards? EMV-compatible terminals have a slot, typically located at the bottom of the terminal, into which the EMV chip card is inserted and read; this slot is different from the side swipe used with magnetic stripe cards.)
• If POS EMV compatible, will you need to schedule a service call to have EMV software installed or will a remote software download be available? (Ask your payment processor—which is Worldpay if we do your payment processing)
• Worldpay’s standalone EMV solutions: POS VX 520 terminal and VX 680 wireless terminal. A remote EMV software download will be scheduled before the October 1, 2015, liability shift.

What is EMV?

EMV is an open-standard set of specifications that ensures functionality between smart chip cards and payment t erminals. EMV originated as a joint effort among Europay, MasterCard® and Visa® to improve payment safety through better card security and improved standards. Today, EMVco is owned by Visa, UnionPay, MasterCard, JCB, Discover and American Express. Payments industry organizations participate with EMVco as technical and business associates. Worldpay is a business associate in EMVco. Find more information at www.emvco.com

How are chip cards different from existing magnetic stripe card technology?

The EMV “chip” is a secure microprocessor built into a card or other payment devices (e.g. mobile wallet on smart phone). The chip generates a unique number for each sales transaction, making it extremely difficult to use a cloned card fraudulently on a card-present transaction. Magnetic stripe cards use static cardholder data that remains the same for every transaction, which makes them attractive targets for theft , cloning and use in card fraud. In addition to strong security features, chip technology includes other capabilities—like Near Field Communications (NFC) technology—which lets merchants accommodate both contact and contactless payments.

Why are EMV chip cards being promoted as a payment standard in the US?

EMV chip cards are already well-established outside the US, particularly in Europe. Crime migrates to the easiest targets, which right now includes the US. Upgrading to the EMV standard is anticipated to greatly reduce card fraud here in the US.

Why will more US merchants move to the EMV standard in 2015?

Beginning October 1, 2015, the major card networks agreed to shift financial responsibility for losses due to counterfeit card-present card fraud to the party using the least secure technology. Merchants that want to avoid this liability should implement EMV chip technology in their point-of-sale (POS) devices before the deadline. Chip and PIN payment devices are deemed most secure for card-present transactions. Ask Worldpay if you need help making decisions about EMV POS device purchases.

What does the financial liability shift mean and how will that affect my business?

Merchants who don’t use EMV capable—and enabled—POS equipment aft er October 1, 2015 will be responsible for card-present fraud losses in the following instances:

• Counterfeit EMV card: Visa, MasterCard, Discover and American Express move liability to the merchant
• Lost or stolen card: American Express, Discover and MasterCard move liability to the merchant; Visa keeps liability with the issuer

Please note a chip and PIN terminal provides the most secure transaction environment available today.

If you have any questions about the EMV transition, contact Novera Payment Solutions. We are here to make the transition as easy as possible for our clients.

EMV is coming to the USA and it's time to plan for the EMV transition.

17-20 million EMV cards were in use in the USA as of May 2014, according to the EMV Migration Forum. A report by the Aite Group projects up to 70% of US credit cards will have EMV chips by 2015.

As a result of the EMV transition, some fraud liability will shift to merchants beginning on October 1st, 2015, which is right around the corner.  The Novera team wants to ease your transition to EMV with important information that you need to know. 

We'll be publishing a series of blogs over the coming months to help you with the transition, and we thought the logical place to being is with a basic timeline of the EMV transition.

EMV Transition Timeline for Merchant Liability

APRIL 1, 2014

The transition actually started in early 2014 with these two items for VISA merchants:

• VISA : Card issuer liable for all unattended, online chip card terminals that support transactions without a signature or PIN
• VISA : New, unattended, online chip-enabled terminals must support transactions without a signature or PIN

JULY 1, 2015

VISA : All new and existing unattended, online chip-enabled terminals, except ATMs, must support transactions without a signature or PIN hardware upgrades are recommended by this date.

OCTOBER 1, 2015

ALL CARDS
Counterfeit liability shifts to merchants if a Non-EMV-enabled POS device is used for a card-present EMV chip transaction, except for automated fuel transactions and ATMs (excluding previous liability shift for International Maestro ATM transactions)

AMERICAN EXPRESS & MASTERCARD
Liability for lost or stolen cards shifts to merchants using Non-EMV-enabled POS device
for a card-present EMV chip transaction, except for automated fuel transactions.

DISCOVER & PULSE
Liability for lost or stolen cards shifts to merchants using, 1) Non-EMV-enabled
POS device or, 2) EMV-enabled POS device that does not support PIN for a card-present EMV chip transaction, except for automated fuel transactions.

OCTOBER 1, 2017

ALL CARDS
Counterfeit liability shifts to merchants using Non-EMV-enabled POS device for a card-
present EMV chip transaction for automated fuel transactions.

MASTERCARD & DISCOVER
Liability for lost or stolen cards shifts to merchants for automated fuel transactions using Non-EMV-enabled POS device for a card-present EMV chip transaction for automated fuel transactions

As a Business Who Accepts Credit Cards, Here's What you Need to Know About EMV Now

In a nutshell, the USA credit cand debit card payments industry has been chugging along on old technology while the rest of the world has implemented EMV card technology for more than a decade.

As recent data breach headlines suggest, criminals focus on the easiest targets and right now, that is the USA. But not for much longer.

In order to avoid potential liability while ensuring customer transaction security, many merchants plan to implement EMV technology. As a country, the USA is moving toward the EMV standard as a direct result of the payment networks shifting specific fraud liability to merchants starting on October 1, 2015.

The bottom line is that you need to understand what your liability is as a merchant and how to protect yourself.  This is where the Novera Payment Solutions team comes in. If you are aren't sure where to start, or even what questions to ask, please take the time to contact us. Our goal is to make your transition as easy as possible. Our hands-on, consultative approach to the credit card payments industry, not only saves our clients money in credit card processing fees, it also saves them in lost time trying to weave through the complicated maze of credit card processing liability.  Novera Payment Solutions is a team you can count on for all aspects of your credit card processing needs.

In 2014 there were many changes in social media, and we expect that trend to continue in 2015. Companies will continue to build their internet marketing strategies and continue to rely on social media platforms such as Facebook, LinkedIn, Twitter and Google+. For 2015, however, video and video sharing will be the growing content of choice.  Who would have though that video sharing on Facebook would overcome Youtube as the most common sharing platform?  But it has!

Consider these video marketing statistics from BrainShark:

1.  74% of all internet traffic in 2017 will be video - See more at: http://www.brainshark.com/Ideas-Blog/2014/March/ten-video-marketing-statistics-and-what-they-mean-to-you.aspx#sthash.MDXVpPxn.dpuf

    74% of all internet traffic in 2017 will be video  - See more at: http://www.brainshark.com/Ideas-Blog/2014/March/ten-video-marketing-statistics-and-what-they-mean-to-you.aspx#sthash.MDXVpPxn.dpuf
   74% of all internet traffic in 2017 will be video
   
   74% of all internet traffic will be video by 2017
2. 52% of marketers report that video content produces the best return on investment
3. Video in email can boost open rates 20%
4. 65% of video viewers watch over 2/3 of a video
5. 33% of tablet owners watch more than one hour of video on their tablets each day

Pretty powerful stuff when considering how to best market your company!

What does this mean for your business?

You should develop a plan for video ... create great, targeted, high-definition video content that can be shared across your entire range of social media channels.  Videos should include targeted calls to action to drive viewers back to your website and social channels.

Creating video for your business is easier than you think!

People get stifled by the misconception that business videos must be professionally produced. Nothing could be further from the truth. It's called social media because consumers want you to be SOCIAL ... when it comes to small business, people buy from people, not from companies.

The businesses that have the most success with social media and video are those that keep it real and build social relationships with their fans and followers. That means if you have a smart phone, there's no excuse not to have video on your social channels. You can record your best customers giving you a testimonial (social proof), build a video FAQ library where you answer common questions from prospective customers, take video of your team and let your customers get to know them ... the possiblities are endless. 

Free basic tools link Animoto.com allow you to use royalty free music tracks, import your photos and video clips, and click a button to produce a beautiful business marketing piece. Add video to your business marketing plan for 2015. You won't regret it!

Some additional trends that we see in 2015:

1. Mobile Marketing will be a crucial element of your marketing strategy. The major social networks now have a worldwide mobile penetration of 93%

2. Paid Ads on social websites will become increasingly unavoidable, requiring fees to market your business.

3. When searching locally, Google searches will expand over to Google+ profiles and pages to include these results. Something to think about if you do not have a Google+ profile.

4. Paid media will be necessary to distribute your content at the right time and to the right audience. Paid media will allow for more conversions to your website than will organic outreach such as “Likes.”

5. Republishing your top posts will allow you to capitalize on your most engaging content. You will reach additional audiences that you did not reach with the first post.

6. Personal interaction with your followers will continue to be very important. Building trust with your potential clients in responding to their feedback and comments will continue to be critical.

7. Facebook is still king, but a combination of Facebook, Twitter, LinkedIn, Google+, Blog, and other social media will allow you to reach the largest audience while positively affecting your search engine ranking!

About Novera Payment Solutions

Novera Payment Solutions is a leader in the credit card payments industry. We are 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.

Contact Novera to learn how you can accept credit cards for your business!

If your business accepts credit cards, you may think you already know everything that you need to know. But here are 10 facts that you may not be aware of. Being armed with this information can save your business money and improve your bottom line.

1. You can now require a $10 minimum purchase for credit card use. Visa and MasterCard used to prohibit this, but the Durbin Amendment now allows it. This is NOT true for debit cards, however.
   
   
2. Credit card processing fees are tax deductible and it's typically a sizable deduction for businesses that accept cards. As tax season approaches, don't forget to take this deduction!
   
   
3. Using your local bank does not save you money on credit card processing. Most local banks outsource credit card processing services to third party sales teams who work for larger processors. By using your local bank you are likely paying more than if you went direct to the processor since it's adding another layer to the pot.
   
   
4. There is only one part of your credit card processing cost that is negotiable and that is the processor's markup over interchange and assessments. Interchange and assessment are the same for all credit card processors. This is why Novera's fixed flat fee merchant account pricing structure is so attractive to businesses. It saves them money and there are no surprises.
   
   
5. You can now pass credit card processing fees through to customers. This change occured in 2013. Whether you SHOULD, however, is another topic altogether.
   
   
6. Make sure you don't find yourself on the "TMF". The terminated merchant file is essentially the credit card processing blacklist. A credit card processor can add you to the TMF if they suspect you of misusing your merchant account for fraudulent purposes. If your business or name is on this list, it can cause you to have to pay higher rates or make it difficult for you to get a merchant account in the future.
   
   
7. Credit card processors monitor your chargeback ratio closely. Pay attention to the number of chargebacks you receive ... if your percentage of chargebacks to total transactions is too high, your merchant account can be cancelled or unsettled funds withheld.
   
   
8. Not using AVS (address verification service) can cost you money. Visa, MasterCard and Discover require the customer's billing address be entered for all card-not-present transactions. If you don't provide it, it will result in a downgraded transaction (resulting in higher fees).
   
   
9. Business owners foot the bill for cardholder reward programs. The banks pass the cost of their cardholder reward programs to businesses through higher interchange fees on reward-based cards.
   
   
10. Tiered merchant account pricing costs you more. You know you have a tiered pricing structure when your processor quotes three different rates: qualified, mid-qualified, and non-qualified. They suck you in with a super low "qualified" rate ... but what they fail to tell you is that most of your transactions will actually fall into the non-qualified higher rate. Novera Payment Solutions' fixed flat fee merchant program takes the mystery out tiered pricing by offering a single flat rate to save you money.

Get some straight talk and learn why a merchant account including our “flat fee advantage” can be one of the best business decisions you’ll ever make. We are happy to offer a FREE savings analysis to show you how Novera Payment Solutions can save you significant money on your credit card processing fees.

It's that time again! Novera Payment Solutions is pleased to offer our popular "Understanding Credit Card Processing" webinar. With just one week left to register, you'll want to reserve your spot today.

If you answer, "yes" to any of the statements below, this webinar will be an excellent use of your time.

1. Are you confused by the complicated statements that you receive from your current credit card processor?
2. Do you need help understanding the difference between "Qualified", "Mid-Qualified", and "Non-Qualified"?
3. Do you need assistance ensuring that you are meeting PCI compliance requirements?
4. Are you paying more than you thought you would for your credit card processing fees?
5. Do you have to wait multiple days after batching transactions to see the payment deposited in your account?

REGISTER TODAY!

Join us in an educational webinar on January 12, 2015 @ 2:00 PM EST designed to help you understand the in's and out's of the credit card processing industry. This FREE webinar will be 45 minutes or less and we guarantee you will learn practical information to help you make better choices when shopping around for credit card processing services.

As an attendee of this webinar you will gain the following:

• Ability to understand Visa/MC/Disc true underlying cost which in turn will help you negotiate better pricing
• Knowledge on how to make sure you are getting a truly fair deal for payment processing services
• Awareness of the latest in technology available in the market place today
• Tips for keeping processing costs down
• Best practices for keeping cardholder data secure, including EMV and maintaining PCI compliance.

With QuickBooks® being the number one small business accounting software in the country, there is no doubt that thousands, if not millions of businesses, are overpaying for their credit card processing service.

The Intuit® credit card processing service is built in to QuickBooks®, making it easy and convenient for merchants to sign up for their service. This convenience can also come with a large price tag.

Intuit® features a tiered pricing model, enticing businesses into the service with seemingly low rates for qualified transactions. What they fail to disclose is that MOST transactions don't fall under that category. The hidden fees and excessive surcharges can end up costing businesses more than they bargained for when they signed up for the service.

We took a few screen grabs from the QuickBooks® payments website to illustrate the point. Take a look at their published rate chart below.

Seems simple enough ... low rates per transaction. Pay a monthly fee to get even lower rates.  What they don't disclose in the table is that these rates apply only to "qualified" transactions.  You have to scroll to the bottom of the page for more information and click on the "Important pricing terms" link.

Note the "additional pricing information" in the fine print.

Let's check it out. When you click on it, this is what you get.

So now we actually see the word "qualified" in the price table related to the discount rates. Note that there is an additional surcharge for non-qualified transactions. Is the discount rate higher too? Probably, but we can't tell from this price table.

There's more.

Another screen grab from the QuickBooks® payments website.

If you happen to have a non US issued card transaction, there are addtional fees tacked on.

And still there's more! See the screen grab below.

Now we have the miscellaneous fees added in, including an PCI service fee of $100 for merchants who process more than 100 transactions each year ... which presumably is just about everyone.  Also notice in the table below, you may be subject to termination fees. You have to refer to three different sections of their 56 page merchant agreement to learn about that.

But we were still curious about what they mean by "qualified" transactions ... is the merchant going to pay even higher fees for other transactions? So we had to dig further on the website.  We finally found a reference to this in their 56 page merchant agreement on page 29.

So they finally define "qualified" here. But note, anything that doesn't meet the "qualified" definition, is charged at the "non-qualified rate which is HIGHER than the mid-qualified rate." And the mid-qualified rate is higher than the qualified rate!

Nowhere on the website were we able to find the discount rate percentages associated with mid and non-qualified transactions.

This is a classic bait and switch technique to get merchants to sign up for an over-priced credit card processing solution by way of convenience.

The good news is that there are now plug-ins available for QuickBooks® that give merchants choices when it comes to who they use for their merchant processing solution.

Novera Payment Solutions offers a completely transparent approach to credit card processing. Our innovative cost plus flat fee merchant account solution saves you money. You know up front exactly what the fees are so you are not surprised with hidden costs and excessive surcharges.

Contact us for a free QuickBooks® consultation. There's absolutely no obligation. We'll show how the Novera Solutions flat fee advantage can save you money over your current QuickBooks® integrated payments solution. Our QuickBooks® credit card processing plug-in, combined with our cost plus flat fee merchant account solution, makes the transition quick, easy, and cost saving for your bottom line!