31 Aug

Selling used POS systems online

The first rule of business is that things change. Business owner’s must keep up with the latest trends in technology, pricing, advertising, and many others. Staying aware and abreast of all of these factors is what makes you a successful entrepreneur. Another evolving area of business is changes in how customer’s pay for their purchases and how that information is processed. MBN is always updating their systems to ensure that our merchants get the best in security and speed of transactions. Your MBN agent is also a valuable resource when it comes time to get rid of your current POS system and trade in for new technology.

We understand that your first concern is how much buying a new system will cost. Your MBN agent will work with your to ensure you get the best equipment at the best price. We offer all major brands in new and refurbished POS equipment. The good news is that you don’t have to junk your old equipment, because there are many places where you can sell a used pos systems online. Your MBN account representative will work with you when buying a new system to make sure you get everything you need in terms of equipment as well as software capabilities.

Buying a better replacement for your business

If you’ve already sold your old POS system, then there’s no time to waste finding one with updated technology to better serve your business. Before you decide with which equipment to replace your POS system, though, take into account the EMV requirements that will go into effect in October of 2015.

By this date, you will need to have equipment capable of reading the computer chips embedded in the new EMV credit cards. The faster you upgrade your POS system to one that accommodates this technology, the faster you can offer increased security for your customers. EMV cards have a much lower rate of fraud and duplication and will save both you and your customers a lot of time and money.

How we can help

Call or click on the MBN website to learn about all of the different options in new and refurbished POS systems and software available to fit your specific needs. All of our agents are well-educated in the specifics of the POS systems we carry as well as with the new EMV requirements. Let us help you update your business to keep up with the ever-changing economy.

16 Aug

EMV stands for Europay, MasterCard and Visa

In an effort to provide increased security for customers, new credit card technology called EMV has been developed. EMV stands for Europay, MasterCard and Visa and refers to the creation of something called chip and pin or smart cards. Instead of a magnetic stripe, EMV cards store sensitive data on a computer chip embedded inside the card itself. Merchants are required to be able to accept these cards beginning in October, 2015,

Switching to EMV technology will result in more than the use of new cards and a change in the way customer’s sensitive data is stored and accessed. Once in place, this new standard of payment also mandates a shift in liability from the credit card issuer to the merchant. This means that any fraudulent charges must be addressed and absorbed by the merchant, not the credit card company. Fortunately, the new cards are nearly impossible to physically duplicate if stolen, and each purchase transaction is completely unique, preventing hackers from stealing and re-using the data.

Merchant Bancard Network, you premier credit card payment processor, is encouraging all of our merchants to move to the new EMV system as soon as possible. The initial investment required to upgrade your POS system to accommodate these cards is far outweighed by the potential benefits.

Does is spell trouble for your business?

In addition to increased security, the new large and small business POS systems include greater storage capacity, more information gathering abilities, and faster transaction processing. For example, when a customer checks out at the register of a retail business, the new EMV-capable POS system can instantly record the purchase in the company’s financial accounts and inventory tracking system.

Another useful feature of the new computer chip-based payment method is that merchants with more than one location, such as a chain of pizza shops, will have the ability to combine all information from the various stores on a real-time basis. Rather than having to consolidate accounts from different locations once a day, week or month, information from every purchase, regardless of location, would be instantly recorded to a single source.

As your merchant services provider, it’s the goal of all MBN account agents to help their merchant streamline their business. Ask about the POS system that will best do that for you.

Updating your POS system for 2015

The EMV acronym stands for more than the computer chip cards customers will be carrying by October, 2015. It refers to a new and highly effective way of processing payment data. Why wait to make the POS updates when you stand to gain better security from hackers as well as the ability to track everything from employee performance to inventory levels instantly with every purchase?

Speak with your MBN representative about how you can begin using the EMV updating service to increase your company’s efficiency today.

1 Aug

EMV POS systems make easier on your staff

October 1st, 2015 is just around the corner — is your business ready for the transition from the traditional magnetic-stripe cards to the new chip-and-pin “smart” cards? While EMV compliance is not “mandatory” for merchants, if you’re business is not ready to accept the new cards, then you will be assuming the liability for any fraudulent transactions. So, now is the time to consider upgrading to an EMV POS systems.

Part of making this transition a positive one is training your staff on how to accept EMV payments. Although there is minimal training involved, there are some important considerations for your retail staff to be aware of when accepting EMV payments. Smart cards are easy to use, but, your staff should be able to recognize a smart card from a magnetic-stripe card by the presence of its small microprocessor chip. Additionally, it’s important to know that customers will be responsible for inserting their own cards into the terminal versus presenting them to a cashier at checkout.

There is bound to be confusion on the part of some of your customers when they first start to use their new cards, but your staff should be able to give instructions on how to proceed with the transaction or actually demonstrate how to use the EMV terminal. All of this just makes for good customer service.

Training?

Your customers will have questions about the EMV card itself and how to use the terminals. Some EMV cards require a signature while other card require PINS. Before implementing your new EMV POS systems, organize a staff meeting to prepare your staff on the use of the new system. It would be helpful to have some practice run-throughs using the new terminals and both types of smart cards. Your staff should become familiar with customer prompts on the terminals and how to process chargebacks, refunds, and cancellations.

It is also important during the EMV POS training period to make your staff aware of the enhanced security of payment information that comes with smart cards so that they are able to answer any concerns on the part of your customers.

The bottom line – you want to give your customers a fast checkout experience with the new EMV cards, so the better trained your staff is, the better customer service you can give.

Implementing the new system

Training your staff to implement your new EMV POS system will just make for a smoother transition in October. Let the customer service specialists at Merchants Bancard Network help you choose the system that best meets your business needs as well as offer assistance with training your staff.

MBN has been in the credit card processing business for over 20 years, and is the leader in secure, in-house merchant payment solutions. Call them today and a member of their top-ranked support staff will help you with any issues you may have with new POS equipment and staff training.