19 Jan

Scaling Your Business with Merchant Services

Watching your business grow is an exciting time, but it also brings new challenges. How will you ensure you have enough inventory? How will you fulfill orders? Who will help run the busy store? There’s a lot to consider when scaling your business, but don’t forget the positive impact that merchant services can make on your efforts.

Merchant services is about more than just helping you accept payment from customers; with the right machines and programs, merchant services can help you scale your growing business.

Accept a variety of payment types
While cash is still used to make purchases, consumers have also adopted more modern ways of paying for goods and services, such as credit cards, gift cards, Apple Pay and Google Wallet, and more. As your number of customers increases, being able to accept a variety of payment types will be even more important. Don’t miss out on sales due to outdated machines. Upgrade your payment processing equipment based on your growing company’s needs to ensure you’re prepared to accept your customers’ payments. Remember to also consider which type of machine is best for you and your customers, such as retail, wireless, mobile, and Point of Sale machines.

Run reports
Keep tabs on your business’ activity using helpful reports that give you clearer insight into sales trends, your finances, and more. For example, employee reports can show you each employee’s sales, refunds and more. Items reports tell you which items were sold and how many. Payment reports show you your paid transactions and important details. You can even keep track of your net revenue, refunds, discounts, and more. These reports share important information to help you adjust your strategy and tactics accordingly to continue to grow.

Manage inventory
As you scale your business, it’s important to ensure you always have the right item types and quantities in stock to meet consumer demand. Whether you’re a retail merchant or restaurant, the right payment processing machine can help you keep track of and manage your inventory. You can enter various items into your inventory list along with details like price, UPC, SKU, and tax information, to name a few. You can also create categories, manage ordering and automated ordering, and more.

Manage customer relationships
Providing an excellent customer experience is vital to building a loyal customer base. Offer a more tailored customer experience and increase customer retention rates by using machines that allow you to collect and manage helpful customer data. This may include contact information, marketing preferences, order details, feedback, and more.

Reduce fraud and chargebacks
Giving customers the ability to pay with credit cards is great for their shopping experience as well as your business, but it does carry some risk. Credit card fraud can lead to chargebacks, taking a toll on your finances. Luckily, the security features built into modern payment processing machines can help prevent these issues.

Be sure to use a terminal that accepts EMV cards – also known as chip cards – which store their data on integrated circuits. This chip feature makes the card more secure than traditional swipe cards and helps prevent fraudulent transactions and chargebacks. You’ll be able to focus more of your time, energy and finances on growing your business rather than paying fees.

Photo by Blake Wisz on Unsplash

Increase customer spending
Your business can thrive even more by offering gift and loyalty cards. These cards help promote increased cash flow and consumer spending, as well as increased repeat business from your current customers. Gift cards, for example, are more secure and desirable than traditional gift certificates. They support credits, refunds, rebates and incentives, and your business benefits from prepaid services as well as unredeemed cards.

Similarly, loyalty cards are effective marketing promotional and customer retention tools. They incentivize consumers to spend more in order to earn rewards, and conveniently allow customers to access online data about their rewards and point balances.

Take advantage of programs
As you scale your business, you’ll likely need money for things like hiring additional employees, purchasing new technology, expanding your inventory, and maybe even opening a new or larger brick-and-mortar location. Using various merchant services programs can help you be sure you’ll have the finances necessary to continue growing your business.

  • Dual Pricing Program: You can potentially save thousands of dollars each year with this program. Our dual pricing program is a no-risk program that allows you to eliminate your monthly interchange fees by passing them on to customers who pay using cards rather than cash. When customers pay with cash, they – as well as you – benefit by not having to pay fees.
  • Small Business Loan: If you’re considering an expansion or further purchases for your business, this is a great program to consider. We offer cash advances against future sales and allow you to pay us back with a percentage of your credit card transactions. There are no payment books or due dates; you simply sign up for the cash advance program and, after approval, receive your funds.
  • Support for high-risk merchants: If you’ve been given the label of high risk, this may be related to your business or industry being deemed as risky, you run an offshore business, your marketing is raising some flags, your credit score may be low, or a variety of other reasons. We will provide a free assessment of your business and create a plan that will allow you to take credit card payments. Merchants Bancard Network will help you get your business out of the “high risk” category and into the “successful” one.

If you’re scaling your business, know that you have a team of merchant services experts ready to help. Merchants Bancard Network is an established provider in the payment processing industry with more than 30 years of experience. We’ve earned the respect of our clients as we move forward with trends and technology without disrupting our superior service.

Want to learn more about the payment processing equipment and programs we offer and how they can help your growing business succeed? Visit our website!

9 Jan

5 Ways to Protect Your Business After the Holiday Season

The holiday season can be a wonderful time of year, but businesses still face risks like fraudulent charges, fraudulent returns, chargebacks and more. Protect your business with these five tips.

Check your security
Be proactive and make sure your security equipment is properly working. Test your alarm systems, locks, surveillance cameras, and any other security systems you have in place. For online businesses, make sure your antivirus software is up to date.

Use terminals that accept EMV cards
Also known as chip cards, EMV cards store their data on integrated circuits. This makes payments more secure and helps prevent fraudulent transactions and chargebacks. If you accept EMV cards, make sure you use the chip feature rather than swiping – even if the customer asks – as this could be a fraudulent card. Be sure to have updated payment processing equipment that is able to accept EMV cards.

Photo by Carli Jeen on Unsplash

Train your team
If you have employees, train them on how to use the payment processing equipment and refresh their memories on policies regarding check, credit, debit and gift card payments. Gift card returns are a common way to get away with fraud. Help ensure that transactions are completed properly and reduce your risk of fees.

Avoid chargebacks
Verifying the customer’s information during online transactions is an important step in avoiding chargebacks. Try using an Address Verification Service (AVS), which compares your customer’s address and zip code to the information on file with their bank. A Card Verification Value (CVV) match is also helpful, as it requires customers to enter their CVV – the 3-digit code on their card; this ensures the customer actually has the card in their possession.

Returns
Returns are an easy way that individuals can bring back items and have funds deposited onto their card. Be aware of returning items to the same card number that the transaction was ran on and checking the name of the cardholder which will print on the receipt. Gift card returns have a higher fraud rate due to their lack or traceability, be sure to check receipts, and customers info if anything has to do with prepaid debit or gift cards.

19 Dec

How to Prevent Chargebacks

Giving customers the ability to pay with credit cards is great for their shopping experience as well as your business. However, it does carry a level of risk, especially around the holidays. Credit card fraud can lead to chargebacks, taking a toll on your finances. Luckily, there are steps you can take to help prevent chargebacks. 

Pay attention to details 

Chip cards: If you accept chip-enabled (EMV) cards, ensure they’re properly dipped; don’t revert to swiping even if the customer asks, as this could be a fraudulent card. 

AVS: Use address verification service (AVS) and get the correct response when keying in transactions. Be sure to ask the cardholder for the correct information in the case of an invalid match. 

Receipts: Check that the information on the receipt matches the card and cardholder’s information. 

Ask questions: Don’t ignore your gut feelings – often times if something doesn’t feel right, it’s not right. Ask yourself and your customer for additional details. Have we worked with this customer before? Is this type of order normal for my business? Why are the shipping and billing information different? 

What if I’m an online merchant? If you have an online business, there are additional precautions you can take to help prevent chargebacks. For example, use IP intelligence to verify that the IP information matches a US-based cardholder and not an anonymous overseas address. Device fingerprinting uses device information and reputation scoring to validate the transaction. 3D Secure uses a three-domain model to validate purchases made with credit or debit cards. You can also use tokenization, during which account and card information is replaced with a secure token identifier, or SSL, which encrypts communication between customer devices and payment solutions. Geolocation is another option – this compares the locations of the cardholder and the customer. 

credit: Nathan Dumlao on Unsplash

Work with experts Feeling overwhelmed? There’s a lot to know! Fortunately, working with experts is a great way to better understand what you need to know and do. As an established provider in the payment processing industry with more than 30 years of experience, we’ve earned the respect of our clients as we move forward with trends and technology without disrupting our superior service. We’ll help you streamline your payment process while offering expertise, reliability, and cutting-edge technology. 

Dealing with chargebacks can be a huge headache and cost your company money. By being proactive and keeping an eye on transaction information, you can help reduce the likelihood of chargebacks. 

13 Dec

Are You Ready for 2020? Get Painless Payment Solutions With Merchants Bancard Network

2020 is just around the corner. Are you setting your business up for success in the new year? Having the right payment processing solution is crucial to keeping your business running smoothly and customers happy. Here are three tips to help you start the new year strong!

Make sure you have modern machines
Today’s customers expect to be able to pay using their preferred payment method, whether that’s cash, card, phone, or online. Make sure your business is prepared by having the right payment processing equipment. Check out our variety of credit card machines, including retail, wireless, mobile and Point of Sale solutions with innovative features and built-in security measures.

Take advantage of useful programs
Thinking about expanding your business or simply want to save money? Look for programs like cash discount programs, referral programs, and programs that offer cash against future sales. (Yes, we offer these!)

Find a trusted team
Figuring out the right payment processing solution for your business doesn’t have to be painful! Find a team you trust, like Merchants Bancard Network. We have 30+ years of experience and provide solutions for virtually every industry across the US. We also won’t sell you anything you don’t need.

2 Dec

What to Look For When Choosing a Merchant Services Company

You want what’s best for your business, and that’s no different when it comes to choosing a merchant services company. After all, that company and their products will determine how and when you’re able to accept your customers’ payment, which affects your bottom line as well as customers’ experience at your business. What should you look for when choosing a merchant services company?

A variety of payment processing options
Consumers today don’t just rely on cash to make purchases; they also use credit and debit cards, Apple Pay and Google Wallet, as well as online orders. If your business isn’t equipped to accept these payment methods, you’re likely missing out on sales.

When choosing a merchant services company, make sure you look for one that offers machines that are able to accept a variety of payment methods. Additionally, choose a company that makes payment processing convenient. For example, in addition to retail and Point of Sale systems, Merchants Bancard Network offers wireless machines that you can take on the go, machines that can be used with a smartphone or tablet, and electronic gateways for online purchases.

Low rates
Owning a business comes with lots of expenses – we get it. That’s why we keep our rates towards the low end of the industry. When looking for a merchant services company, make sure you’re not being overcharged for payment processing equipment.

Helpful programs
Having modern equipment at an affordable price is important, but that’s not all you should look for when searching for a merchant services company. Look for a company that offers programs that save you money and make your job a little easier.

For example, MBN’s cash discount program allows you to save money by passing monthly interchange fees on to card-using customers and offering discounts to customers who pay with cash. You can also use our cash advance program, which offers cash advances against future sales. Instead of taking out a loan, you simply pay us back with a percentage of your credit card transactions.

Gift and loyalty programs
Make sure the merchant services company you choose offers gift and loyalty programs, which encourage repeat business and increased consumer spending. Gift cards should be able to support credits, refunds, rebates, and incentives, while loyalty programs should make it easy for customers to see their current point balance.

Experienced staff
Last but definitely not least, the right merchant services company will be an established provider in the payment processing industry with agents who are knowledgeable and ready to help. For example, MBN has more than 30 years of experience. We put relationships with customers first and will always provide you with exactly what you need and never sell you anything you don’t. Make sure you find a company you can trust.

It’s important to find a merchant services company with the products and know-how to help your business thrive. By focusing on these five key elements, you’re likely to find the right company for your business.

6 Nov

How Merchants Bancard Network Can Help Your Business

As a merchant, you’ve got a lot on your plate. Luckily, you don’t have to go it alone. Merchants Bancard Network is here to help you grow your business, save money, and provide the payments processing know-how to help you succeed.

Grow your business
Customers expect to be able to make purchases using their preferred payment method – and that isn’t always cash. It’s crucial for merchants to be able to accept payment methods like credit cards, Apple Pay, Google Wallet, gift cards and even online orders. If you only accept cash, you’re likely losing business.

Having the right equipment to accept various payment methods may help increase sales and customer loyalty. Merchants Bancard Network offers a wide range of payment solutions, including retail credit card machines, wireless credit card machines, mobile credit card readers, Point of Sale systems, and e-commerce credit solutions. We’ll help you find the right machine to help you grow your business.

Photo by Blake Wisz on Unsplash

Save money
As a small business owner, you know that keeping costs low is one of the keys to making a profit; that’s why we offer ways to help you save money. Our Cash Discount Program lets you eliminate your monthly interchange fees by passing the fees off to customers, giving you the potential to save thousands of dollars every year. The program also allows you to incentivize customers to pay with cash by offering discounts for doing so, which in turn enables you to avoid credit card processing fees.

Work with experts
If you’ve ever had to call a customer service department, you know that who you talk to can make or break your experience with a company. That’s why at MBN, we put our customers first. We listen to your business needs and concerns, then come up with a customized solution and recommend the products that are just right for you. We will always provide you with exactly what you need and never sell you anything you don’t.

As an established provider in the payment processing industry with more than 30 years of experience, we’ve earned the respect of our clients as we move forward with trends and technology without disrupting our superior service. We’ll help you streamline your payment process while offering expertise, reliability, and cutting-edge technology.

There’s a lot to think about when you’re a merchant, but finding the right payment processing solution doesn’t have to be stressful. Let Merchants Bancard Network provide the exceptional products and customer service that will help you grow your business, save you money, and give you peace of mind.

11 Oct

Try Out SwipeSimple with the New Demo Mode

Technological advances are changing the way we do business, including how merchants are able to accept payments from customers.

SwipeSimple is an easy-to-use payment solution that lets small business owners accept payments and run their businesses from their computer. You can send and receive invoices, accept payments, view transaction reports and more. Now, you can easily experience the benefits of SwipeSimple through the convenient live demo.

But first, what are the main features and benefits this solution?

Dashboard
SwipeSimple helps you keep track of your business from anywhere. The included dashboard features helpful business management tools like transaction history, tax reporting, and more!

Virtual Terminal
With just a computer and web browser, you can run transactions, send and receive invoices and more via the virtual terminal.

Efficiency
This modern solution includes cloud-based inventory, item tracking, and real-time transaction history to help you more efficiently run your business. There are also customizable tip prompts and support for multiple tax rates, and SwipeSimple is compatible with a variety of smart terminal devices.

How can you get a closer look at SwipeSimple?

Demo
The best way to understand SwipeSimple’s intuitive interface and powerful features is to learn by doing; the live demo makes that easy.

Test the virtual terminal, invoices, payment acceptance capabilities and more at a computer – no SwipeSimple account required. A computer with a web browser and Internet access is all you need to get started.

You deserve modern payment acceptance solutions. Ready to see how easy it is to accept payments at your computer? View the live demo.

10 Oct

Are You Ready for the New Way to Pay?

When it comes to technology and trends, there’s one thing that’s certain: change will happen. Take payment methods, for example. While cash and cards are still commonly used, consumers can now pay from the convenience of their phones with Apple Pay and Google Wallet. Embracing these changes is extremely important to the success of your business.

A New Way to Pay

Consumers expect to be able to make purchases in a way that’s convenient for them. Today, that can mean payment via Apple Pay or Google Wallet. In fact, some people don’t even carry cards anymore, but rather are prepared to pay via their phone or watch. If your business isn’t equipped to accept these payment methods, you could miss out on sales.

Make Sure You’re Ready

Upgrading your payment processing equipment can ensure you’re able to accept your customers’ payment, whether that’s cash, cards, or something more modern. Take the Clover® system, for example, which accepts credit cards, EMV, and Apple Pay. Having the right machine helps ensure customers don’t walk out just because you can’t accept their preferred payment method.

Providing What You Need, and Nothing You Don’t

As always, we’re happy to discuss your payment processing needs with you so we can pick out just the right machine for you and your business. We believe in listening to each customer and offering personalized solutions; we’ll never try to sell you anything you don’t actually need. With the help of Merchants Bancard Network, your customers can decide how they want to pay, and you’ll be ready for it!

12 Aug

Which machine to choose?

There are a ton of options when it comes to choosing a credit card machine, and each has pros and cons depending on your business needs. So how do you know which one’s right for you? Here are some highlights of the most common choices to make your decision easier!

If you are looking for portable options using SwipeSimple or Charge Anywhere will turn your smartphone or tablet into a payment terminal.

SwipeSimple SWIFT B200

First up is the Swift B200. This mobile credit machine is perfect for merchants looking to accept EMV chip cards and magnetic stripe payments with a device that connects via Bluetooth. Whether you’re using a tablet or smartphone, this device easily connects – enabling you to accept payments anywhere and everywhere! Plus, Quick Chip technology ensures fast transactions, so you’re never waiting around to process payments!

SWIFT B250

Next up is the Swift B250. This option shares many similarities with the Swift B000, but it is also equipped with tap technology. Meaning that this option is built for businesses looking to accept mobile wallets such as Apple Pay and Google Pay, as well as EMV chip cards and magnetic stripe payments. The B250 is also incredibly retail-friendly with the ability to switch between mobile, countertop, and in-store with the optional charging stand! A portable and durable tabletop charging stand is a fantastic addition as it:

● Keeps the card reader charged and stabilized while completing transactions
● Makes it easy to accept payments with a smartly designed upward tilt
● Has a simple and sleek interface

Charge Anywhere

These EMV mPOS PIN Pads and terminals make it is easy to use your Android or iOS phone or tablet as a mPOS payment system. All of these machines are: compatable with Android and Iphone, EMV Level 1&2 Certified, and Mag Swipe Track 1&2 certified!

The EMV Bluetooth Reader

This machine embodies all of the same components as the Audio Jack reader, but with the added benefit of connecting via Bluetooth; leaving your headphone jack available to you. It also has an optional (removable) adhesive pad, meaning that while connected through Bluetooth, it remains firmly secured to your mobile phone.

Pin Pad EMV Bluetooth Reader

This device connects to smartphones and tablets via Bluetooth, meaning that it remains separate from your device. This separation between phone and machine creates an experience for the cardholder that is familiar and consistent with traditional cash register patterns. The cardholder inserts their card, confirms the charge, enters their PIN, removes their own card and returns the device to the merchant, who then completes the process via their phone or tablet.

Pin Pad EMV Bluetooth Reader with NFC

This device connects to all existing POS systems via Bluetooth, Wifi, or through a USB serial. This dissolves the restrictions from the usual boundaries and restrictions, making it possible to stay connected even when not in the store. Therefore this device is perfect for pop-up locations, seasonal exteriors, or vendor fairs events.

6 Aug

3 Ways to Improve Your Customer Experience at Checkout

As a merchant, you know how important it is to provide a positive customer experience. You want people to enjoy shopping with you, tell their friends about your company, and become loyal returning customers.

That’s why it’s so important for the customer experience to be a positive one from the moment someone walks in your door to the moment they leave. Ensure your customers leave on a high note by making the payment process convenient!

While some consumers may prefer to pay with cash, for many, that’s become an outdated payment method. With everything from car parks to window cleaners now in a position to accept credit card payments, if you’re only offering customers cash options, you’re probably losing business.

American Express is a common card type that businesses do not accept. But, did you know that Amex lowered their rates? If you are not signed up on the new OptBlue Program you should be. Businesses that accept American Express received increased spend per customer.

Accept the customer’s preferred payment method

While some consumers may prefer to pay with cash, for many, that’s become an outdated payment method. With everything from car parks to window cleaners now in a position to accept credit card payments, if you’re only offering customers cash options, you’re probably losing business.

Allowing customers to make purchases in their preferred method is a great way to provide a positive customer experience! Luckily, there are a lot of options for affordable, effective and user-friendly credit card merchant services.

Choose the best location for payment

Where is it most convenient for your customer to make a payment? Maybe it’s at a checkout desk inside the store. Or, maybe it’s more convenient for your customer to pay elsewhere, like a table they’re seated at, or curbside.

You can help reduce the amount of time a customer must wait to pay by allowing them to pay where it’s convenient for them. If you’re always on the go or want to meet customers where they are, a portable credit card processing machine can be a huge help.

Offer quick and simple transactions

No one likes waiting around for their credit card payment to go through. Ensure your customers have a positive experience by offering fast payment transactions. Using modern equipment that’s user-friendly and processes payments quickly ensures your customers’ positive shopping experience won’t be dampened by a lousy checkout experience.

à Ready to improve your customer experience by offering a convenient payment process? Visit our website today to find the processing solution that’s right for you!