CSI - Merchant Success Blog

This is that time of year when we all start getting those emails that want to purloin our secret codes and passwords.  You know the ones that have subject lines like: “Your Account Is About To Be Closed,” “There’s A Block On Your Account,” “Could You Help Me Claim My Funds,” or my all-time favorite “Congratulations – You’ve Won The UK Lottery.”

This is the time of year when we are all shopping for gifts for family or customers, and the last thing we need is for our bank or credit cards account to be hindered.  That is exactly what these “cyber grifters” are counting on, and unfortunately some of us are tempted to follow the instructions sent to investigate. 

First and foremost, DON’T FOLLOW THE INSTRUCTIONS IN THE EMAIL!  If you think there might be a problem, access the account in question as you normally do on your PC and not with the link supplied in the phony email.

I’ve had some very authentic looking email supposedly from banks, that even went so far as to copy the colors of the bank logo and stationery style.  But, don’t fall for the scam.  In fact, don’t even open the email, because many are just set to loose a virus program on your computer by being opened.  Simply forward the suspicious email to the “spoof email” address supplied by your bank, or credit card company.

Nearly 10 million Americans fell prey to identity theft last year, costing businesses and individuals billions of dollars.  Here are some other tips to help you:

1. Understand debit card dangers:  Greater liability than credit cards.  When it comes to fraud, debit cards carry much greater personal liability than credit cards, depending on how quickly you report the loss of the card.  If you fail to report unauthorized use within 60 days of receiving your bank statements, you could lose all the money in the account and be held responsible for the amount of money that has been tapped from your line of credit. THis is why if you are a business owner, you should offer credit cards as a payment option.
2. Rethink check writing:  That little slip of paper has way too much information. Some experts advise against check writing because it gives away your address, bank account number, signature and license number to complete strangers.  On top of that, there’s no federal legislation to limit your liability for forged checks (each state has its own set of rules).  Experts advise that you look into automating your bill paying. Also, if you are a business owner and would like to offer electronic check and bill paying as an option, you should visit http://www.cardserviceinternational.com
3. Secure your mail:  Your mailbox is a goldmine of information.  Between bank statement, bills, and all those pre-approved credit card offers, your mailbox is loaded with personal data which identity thieves can use to easily apply for a credit card in your name.  Unless you diligently check your credit report, you may never even know about it.  One way to avoid this is to have your mailbox under lock and key, but most of us in Santa Clarita have our mailboxes at the curb in front of our house and the postman frowns on carrying dozens and dozens of keys around.  The other solution is to have a rented mailbox, or to foil “dumpster-diving” thieves by buying a shredder and destroy documents before discarding.
4. Go virtual:  For shopping online, there are “virtual” card numbers.  These are randomly generated credit card numbers that are disposable and that on-line shoppers use once and throw away.  It’s linked directly to your real credit card account so purchases show up on your monthly bill.  The service is easy to use – and it’s FREE!  All you need to do is register with companies offering the virtual card, and they are MBNA, Discover, and Citigroup.
5. Create an emergency identity kit:  Would you know how to contact your credit card company in an emergency?  Create an emergency kit that contains: your account number, expiration date, issuing company name, and emergency contact number for each card you own.  While you’re at it, make copies of your driver’s license, social security card, birth certificate and passport and store them in a locked box or file cabinet, or a safe deposit box.  I like the safe deposit box best, because this gives you protection in the event of a catastrophe such as fire, earthquake, etc. 

This may all seem like a lot of unnecessary work, but if you’re ever the victim of identity theft – even just once – you’ll realize that it’s well worth the effort.Many of us forget that were it not for what we carry in our wallets or in our purses, we’re all John and Jane Doe’s if we can’t speak due to injury or are unaccompanied by someone who knows us.  How much less stressful is it to know that in a bank box, no matter where you are, there are items that can verify your identity.  Better to be safe, than sorry!

This Blog Entry was written to help prevent fraud.  Cardservice International is the leading credit card processor for merchants and we are number 1 in fraud prevention.

Credit Card Reward Cards…

No matter where you look, there is always a credit card company that is offering reward programs with their credit cards.  New ones pop up all the time, making it sound too good to turn down. These reward programs are like gold to merchants who have a merchant account and accept credit card payments.  Many people will pay by credit card just to get the reward points. Even though they may sound great, you may wonder if the rewards are truly worth it.  In some cases they are, although in others they may not be quite as good as you would like.

Although having more than one reward card is something many people instantly think about, you should always keep in mind that not all of them are worth having.  Even though using your credit card is always good, you can sometimes end up paying quite a bit if you don’t pay attention to what you are buying.  When it comes down to credit card reward cards, you should use caution - with a dash of common sense.

Any reward cards that come with high interest rates should always be avoided.  With most reward cards, you’ll find that they include higher rates of interest than standard cards.  This higher interest rate can quickly and easily offset any type of reward.  To be on the safe side, you should always look at the interest rates and determine if the reward is indeed worth it.  If you pay off your entire balance at the end of every month - then this won’t be a concern at all for you.

You should also keep your eyes peeled for reward cards that offer a high annual fee.  These cards can be very tough to keep a grasp of, and they can also interfere with any type of reward you may think your getting.  If you look at the fine print before you choose your reward credit card, you can help to eliminate problems.
  
Cash back is a type of reward card that is becoming very popular.  A lot of the top credit card companies and banks offer cash back programs that are normally around 1% for every purchase that you make.  Before you rush out and get a reward card, you should always make sure that you read the fine print and see if there is a maximum limit on the card.

Another type of popular reward credit card is the type that give you points for every purchase you make using that card.  Once you have accumulated enough points, you can redeem them for items and other cool things.  Some cards will have limits as to how many points you can receive, which again makes it your best interest to shop around. 

There are also credit cards with frequent flyer miles, which have been around the longest.  Some cards will base their rewards on points, while some choose to use actual miles.  For every dollar you spend using your frequent flyer credit card, you’ll receive either a point or a mile.  Once you get enough accumulated, you can redeem them.  Most frequent flyer rewards take about 25,000 points or miles in order to redeem them, which can make it nearly impossible for some to reap the benefits of using the card.

No matter where you look, finding the right credit card reward card can take some time and effort.  You may have no problems finding the card to fit your needs, and if you do, you should consider yourself lucky.  Before you choose your card however - you should always take the necessary time to read the fine print and compare what each unique company has to offer you.

If you are a merchant who would like to offer gift cards and reward cards to your customers, you can do so with a merchant account from http://www.cardserviceinternational.com

According to greensheet.com, Many merchant level salespeople (MLSs) may not be familiar with the term “direct selling” or the DSA, but they’re certainly familiar with the names Mary Kay Inc., Tupperware Worldwide, Herbalife Inc., Hy Cite Corp. and countless others - all of which engage in direct selling.

Over 70% of such companies’ sales are made face to face, most often in residential settings. The chart accompanying this story contains a detailed breakdown of locations at which direct sales are closed.

Until now, direct sellers typically had to accept cash and checks or extend credit to their customers. In some cases, a credit card number was written down and key-entered into a PC-based payment system after the sales event.

These limited options created problems for direct sellers. For example, the checkout process was slow. Often checks were accepted from fraudulent accounts or those that lacked sufficient funds to cover the payment.

Transactions key-entered after an event sometimes revealed fraudulent or over-limit cards had been used.

Also, key-entered transactions often were charged an additional fee of 50 basis points, or more, because the swiped rate did not apply.

And while some may assume that average tickets for these sales are small, quite the opposite is often true. In fact, some high-end products sold through these channels cost hundreds or thousands of dollars.

Ready, set, ripe for wireless

The solution for this huge market rests in wireless, or mobile, POS terminals. These are available from a variety of manufacturers, including WAY Systems, and linkpoint 9100G.

You can start wireless credit card account at http://www.cardserviceinternational.com/wireless-services.htm 

Recently, Madison, Wisc.-based Hy Cite selected a wireless POS payment systems solution to offer its distributors the ability to accept on-the-spot credit and debit card payments.

Hy Cite offers a broad array of premium health and nutrition products under the Royal Prestige brand. According to Alejandro Vergara, Hy Cite’s Vice President of Operations, the “market has really changed since we started looking several years ago.

“There are more terminal manufacturers offering new capabilities and, frankly, more salespeople who seem to be focused on selling wireless credit card processing. The customer is truly in the driver’s seat.”

Hy Cite, which has over 2,000 distributors and does business in the United States, Mexico, Chile, Ecuador and Canada, plans to expand the program to its party planning, shows and dinner-group sales associates.

“We believe so much in the program that we are even subsidizing the merchant fees associated with accepting credit cards for our associates,” Vergara said.

“We believe the program can expand our sales, make our associates more productive, provide us with a more professional image and give us a competitive advantage.”

With a market of almost 14 million potential customers, the direct selling market is ripe for wireless payment processing.

And the key to success appears to be offering a device that is cost-effective, has a convenient form factor, is easy to use and offers broad wireless coverage.

MLSs who choose the right solutions and focus on meeting the unique needs of this market will be pursuing a virtually untapped opportunity.

This story originated at greensheet.com and was written by George E. Devitt is Vice President and Chief Marketing Officer at Boston-based WAY Systems Inc. An industry veteran, Devitt has served as Senior Vice President and Chief Marketing Officer at Hypercom Corp., Vice President of Marketing at VeriFone and Vice President of Product Marketing at Harland Financial Solutions, in addition to a number of sales and marketing positions at IBM Corp. and Hewlett-Packard Co.

If you want to accept credit cards with a wireless terminal and merchant account, the best customer service and pricing can be found at http://www.cardserviceinternational.com

1. Attraction: Accelerate client enrollment through the acceptance of credit cards. Greater access to your services translates into more prospects becoming clients.
 
2. Improved cash flow: Funds from credit card transactions and electronic check payments are available within 48 hours of processing. No more waiting for out-of-state checks to arrive and clear the bank.

3. Efficiency: Eliminate trips to the bank - funds are directly deposited into your account. End repetitious data entry - automatic billing for on-going clients. Reduce clutter - paper-less processing and a monthly, consolidated statement.

4. Focus: Discuss billing only once with on-going clients. Pre-authorized, automatic monthly credit card payments allow for total focus on the working relationship.

5. Choices: Clients appreciate the added convenience and flexibility of having many payment options, including debit cards (with VISA or MasterCard logos), credit cards and electronic check payments, to best meet their individual financial and personal needs.

6. Reduction or elimination of receivables: When you offer higher priced services, clients will make payment arrangements with their credit card company instead of you. Stop being a banker — save time and energy. Many corporations and government agencies now prefer paying by credit card. Check payments take up to 60 days, or longer, to process. Why wait?

7. International transactions: Expand your business by eliminating currency exchange issues with your international clients. Many individuals outside the U.S. have credit card accounts that pay in U.S. dollars.

8. Convenience: Many clients prefer using credit cards to receive one monthly statement that details all their transactions. This simplifies their monthly bookkeeping.

9. Incentives: Clients enjoy using their credit cards to accumulate frequent flyer miles or other marketing bonuses.

10. Legitimacy: With the ability to accept credit card payments, potential clients will view you as a “real” business, even if you are home-based or a sole proprietor.

Learn how you can easily get approved to accept credit cards.  You can accept credit cards online, with a wireless terminal, over the phone, or with a traditianal credit card terminal. We’ll show you how to start accepting credit cards fast.  Visit: http://www.cardserviceinternational.com