19 Jun

5 Top Tips for Sales Agents

With sales in general, people are turned off if you portray yourself as very salesly, and only want them to buy the product or service. The biggest piece of advice is make them feel like they NEED the product/service and that they will be part of the community of the brand they are purchasing from. Nobody wants to be sold to, they want to feel like you are the solution to their problems. Since Merchants Bancard Network thrives on being a solution we want to make sure this is portrayed to every agent that is selling our services!

Educate Yourself:

The biggest factor in your success as a sales agent is knowing the business you work for, knowing everything they have to offer, and how they can be a solution to your Merchants problem * Remember if you can show someone how you can solve a problem they have you will be more likely to sign them on.

Make a point to subscribe to Merchants Bancard Networks email and to be looking for weekly updates to stay on top of what is happening, and what you can be offering to your merchants. As important as it is to sign new merchants its equally important to nurture those relationships so they become long term clients.

Always Inform

Take the time to inform your Merchants, let them know all the nitty gritty details that will go on when they sign on with Merchants Bancard Network, make sure you are being transparent and putting everything they need to know, or will encounter out there upfront. Its extremely important to build trust, if they trust you they will be more willing to take your opinion to heart and to trust that you are taking the best care of them that you can and that their Business is important to you.

Use your Resources

When you choose to be a sales agent for Merchants Bancard Network we want to make sure we are constantly updating you on all the changes. We want to make sure each week we are keeping you up to date on all the resources you have available to you. Some include:

● Outstanding Support:

● Upfront Bonus for Partners

● Sizeable Residuals for Partners

● Competitive Rates for Merchants

● American Express Opt Blue for Merchants

● 24 hour Customer Service for Merchants

Find out more https://merchantsbancard.com/partners/

5 Jun

How to Eliminate all Processing Fees

We at Merchants Bancard Network want to make sure you have all the resources available to you to really make a difference. We created our Cash Discount Program with YOU in mind. Allow your business to start saving money with MBN’s cash discount program. Stop paying Credit Card processing fees now.

Are you ready to take advantage of our cash discount program, and save your business money each year? Below we have outlines a few key details about our program, we have also added the link to get into contact with us so we can go over in further detail how Cash Discount can benefit your business, and how working with Merchants Bancard Network is the solution.

Details you need to know about Cash Discount:

  • Our cash discount program allows you to pass off credit card fees to your customers
  • MBN’s cash discount program is an exciting new way for you to save thousands of dollars on your yearly credit card processing fees.
  •  The laws have changed and you are likely still using the old ways of doing business.  
  • MBN’s cash discount program is a no risk program that allows you to eliminate your monthly interchange fees.  Click here to read more about MBN’s cash discount program and how it works.

Interested in how MBN can help you, and how you can start taking advantage of Cash Discount? Click here to fill out the formhttps://merchantsbancard.com/free-analysis/ and we will be in touch as soon as possible!

11 Dec

Are you EMV ready? Merchants Bancard can help!

What is EMV?

  • EMV is a technical standard for smart payment cards and for payment terminals and automated teller machines that can accept them.
  • EMV cards are smart cards (also called chip cards or IC cards) which store their data on integrated circuits rather than magnetic stripes.

EMV Implementation

  • Visa
  • MasterCard
  • American Express
  • Discover/Diners Club International

EMV Statistics

  • The US has 50% more fraud then the rest of the world as compared to payment volume.
  • Estimated 90% of counterfeit card fraud in the US could be eliminated with EMV deployment.

EMV Benefits for Merchants

  • Increases security and fraud protection to reduce card present fraudulent transactions and charge-backs:
    • Reduces skimming at the point of sale
    • Enables increased PIN use for stronger cardholder verification
    • Helps prevent the use of counterfeit, lost and stolen cards
  • Improves customer service:
    • Enables PIN transactions for both credit and debit cards, reducing time needed to obtain a signature and the need for authorization referrals.
    • Supports contactless transactions which are approximately 53% faster than a traditional magnetic stripe card transaction.
  • Enables merchants to offer cardholders a secure payment of their choice:
    • Meet expectations of cardholders who want more secure payment transactions
    • Accept foreign cards that are already EMV enabled
  • Drives innovation in emerging consumer technologies:
    • Chip-based applications can be embedded into a mobile wallet, enabling consumers to pay via their mobile devices.
    • Chip card technology works on the same technology that enables mobile payments at the POS

 

13 Nov

Low Cost Credit Card Processing For Small Businesses

For small businesses, home businesses or family businesses, keeping the costs as low as possible is one of the keys to making a profit. At MBN we understand the need for economical options in everything you do, which is why we focus on low cost credit card processing.

However, when it comes to low cost, we don’t mean low quality, low security, or low features. Our goal is to provide a user-friendly option to process credit and debit cards that will work with your budget, you comfort with technology, and the type of business you operate.

Security

With all the latest news on the major security breaches in customer information and credit card data from stores such as Target, Home Depot and JCPenny, many small businesses have been leery of choosing low cost credit card processing. The fear of a breach in security and possible liability for hackers gaining access to customer credit card information through their systems made many small businesses hesitant to take the risk.

With new technology in credit cards, including the EMV or Europay, MasterCard and Visa chips soon to be implanted in all major credit cards, security is less of a concern. However, as a company offering low cost credit card processing we do make security a priority in all the data we manage.

Top Features

The types of features you have on your credit card machine and system will largely depend on the system you select. We offer everything from POS register types of options to fully mobile payment processing for smartphones and tablets.

With these streamlined systems, the use of technology and cloud-based services allows for customization of services. You can choose to accept gift cards, loyalty cards or even EBT cards based on your business and the needs of your customers.

Your Budget

If you have a budget for processing of credit cards, simply get in touch with our staff. We can talk you through the packages, options, and features we have and also provide information about our low competitive rates.

We can also talk to you about low-cost options that don’t require any specialized large equipment purchases. This is often very economical for family and home businesses having to manage in-person credit card sales, and we can also provide ecommerce solutions for credit card processing as well, providing even more options even for a small business.

13 Nov

Reducing Fees For Merchant Credit Card Services

At MBN, our goal is to provide our customers with the service they need at a low competitive rate. We listen carefully to your needs for credit card processing and make suggestions for the best options to give you the merchant credit card services you need while also saving you from spending money needlessly.

Know the Terminology

We encourage our customers to compare our service and prices to other credit card processing companies and get a good idea of the typical fees and costs associated with various companies. It is always interesting to see all the different fees, rates, and costs across the industry.

By understanding what each type of fee is with merchant credit card services we believe our customers can make a more informed, educated and cost-effective decision. To help you to get started, we would like to provide some standard types of fees you may hear about and their industry definition.

  • Transaction fees – every transaction that is processed through the account, either online or swiped, will be charge a fee. This fee will be in place even if the card is declined, and it will vary between swipe and keyed entry.
  • AVS (Address Verification Service Transaction) fees – charged when the card is not swiped for the sale. This can include a phone-in sale or online sales and includes the system checking the address of the registered card holder before approval.
  • ACH Fees – sometimes called a daily batch fee, it is charge at the end of each day where you have at least one credit card transaction.
  • Internet Gateway Fee – for online merchant credit card services the gateway provider will charge a fee over and above the credit card provider. This is often a per transaction as well as flat rate fee.
  • Discount rate – this is a percentage of the transaction that is charged on each transaction. The rate will vary based on the type of transaction and will depend on the card used and how risky the sale is considered by the credit card company.
  • Chargeback fee – when a customer, or a financial institute issuing the card, does a chargeback or disputes a transaction.
  • Termination fee – most merchant card processors work with customers on a contract basis over a set period of time. Canceling the agreement before that date will result in a fee that will be stipulated in the agreement.

If you have any questions about fees in any of our services, please get in touch. We always work with our customers to ensure you have the card processing services you need without any surprises.

10 Nov

How To Accept Credit Cards

It isn’t too hard to imagine but according to the 2013 Federal Reserve Payments Study, which tracked payment trends over a 10 year period from 2003 to 2012, it was found that credit and debit card purchases are sharply on the rise.

In addition, the general-purpose cards, which include Visa, MasterCard, American Expression and Discover as well as debit cards and prepaid cards, rose in total sales dollar value from $0.9 trillion in 2009 to $1.4 trillion in 2012, which is a growth rate of spending on these cards at 16.3 percent.

At the same time, according to Forbes magazine, 55% of small businesses in the United States do not accept credit or debit cards at this time. This means that about half of small businesses are not accepting the payment method their customers prefer to use, which may result in lost sales and decline revenue. Many may not be offering this to their customers because they don’t know how to accept credit cards and just how easy it can be.

The Options

In the past, many small businesses simply couldn’t effort the older options in point of sale or POS systems. These are the register types of systems of the past, but also the more modern and streamlined options of today. Now, these POS systems can connect to tablets and have a very limited footprint, perfect even when counter space is at a premium.

At MBN, we provide a range of different options besides the more traditional POS credit card processing systems.Each of these has its advantages from mobility to ease of setup and use, making them ideal for all types of small to large businesses. We are also here to talk you about how to accept credit cards for your sales needs while keeping costs low.

Some of the most popular options we offer to accept credit cards include:

  • Handheld systems – these are small and compact, and allow full credit card processing without the need of a computer or a POS system. They are about the size of a large smartphone but thicker and much more durable.
  • Mobile – these are a great option when sales staff is mobile or for a business where it is easier to bring the credit card processing to the customer. These small devices fit into the top of a smartphone or tablet with the screen allowing for customer signatures, emailing receipts or even having receipts sent wirelessly to printers.
  • Online – there are different highly secure ecommerce payment systems available. These are cloud based and are accessed through a web browser, allowing multiple computers to process sales at the same time.

Through our options in credit card processing systems, you will find the option that works for your business and your sales needs. If you need help on how to accept credit cards, just let us know.

6 Nov

Tips For Selecting A Credit Card Processing Company

As a business owner, it may seem like there are a million decisions to make on a daily basis. One more important decision you will need to make is in choosing a credit card processing company.

While this may not seem like a big choice to make, and unfortunately many businesses don’t take the time to research and consider their options, it can have a very big impact on what types of cards you can accept, the functionality of the system, and even how much you will have to pay per transaction.

At MBN, we recommend to all our customers that spending some time comparing different options is always important. While we are proud to offer the lowest rates and a range of different customized processing programs, we believe that knowing what is available, and how we compare, is important to our clients and those considering our services.

Fees and Costs

The rates, as well as fees and costs, of processing credit and debit cards will vary considerably between different providers. It is essential when comparing fee, costs and rates between one credit card processing company and another to make sure you are comparing apples to apples.

Some companies will offer low rates, but then have higher additional costs that more than make up for the slightly higher rate per transaction. Just be sure to read the complete contract so you clearly understand the charges you can expect.

Payments Accepted

Most of the major credit card processors will accept all the major credit cards and debit cards. This includes MasterCard, Visa, Discover, and American Express. However, not all systems will allow you to process gift cards or EBT (electronic benefit transfer) types of payments.

Knowing what your customers prefer to use, which is often based on your business type, will be important in your evaluation of different processing companies.

Moving Forward with Technology

It is important to choose a credit card processing company that is on the cutting edge of technology and not struggling to keep up. A good way to evaluate that is to ask if the company is capable of handling payments using Google Wallet or the increasingly popular Apple Pay.

As payment options and forms are constantly evolving, now with the literally touchless near-field communication options on smartphones and tablets, staying ahead of the curve is going to be more important than ever, and that is something MBN has always done.

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.