New payment technology such as wearable innovations and biometric tech are the new things that are going to make shopping a breeze. Some of these include being able to pay with their sunglasses, face, ring, and palm.

Pay with Your Sunglasses

The most interesting new option is the payment-enabled sunglasses from Visa. They unveiled a prototype at several events simultaneously on March 13^th. The Visa company installed a chip in the side of the glasses and to pay, all you have to do is take them off and tap them on a Visa terminal. No cards or ID required. While it is not available to the public yet, Visa is trying to determine whether there is a big enough demand.

Pay with Your Face

Paying with your face seems like something from a science fiction movie but Samsung Electronics is trying to make it a reality. They are planning to use facial recognition software for mobile payments from your Galaxy S8 smart phone. The phone will mix eye, fingerprint, and facial detection to identify the users for Samsung Pay. Using the iris in your eye is already being used but Samsung believes that facial recognition is faster and more accurate.

Pay with Your Ring

Customers in the United Kingdom can already use the world’s first payment ring that lets you pay for your shopping or public transportation with your finger. The Kerv ring will give each customer a personal prepaid Mastercard that they can even add funds to. According to Kerv, you can even use it to unlock your front door if you have a contactless lock. It does not need to be recharged and you do not have to pair it with your phone so you can use it even if your phone is dead. This means you will not need to get out your wallet or phone when getting on the bus or paying for your shopping.

Pay with your Palm

There is also a new biometric payment system called Keyo that lets you pay for things just by holding your hand over a scanner. To sign up, all you have to do is create an account with your credit card details. Then when you visit a retailer that has a Keyo terminal, the scanner reads your palm and maps the patterns that are unique to you. With this, you can just wave your hand and pay for whatever you want without a wallet or purse. Right now, it is being tested in Chicago but it has plans to expand to other areas of the world.

In the future, there may be even better and faster technology for paying for things. In addition, companies are trying to create technology that can successfully block all hackers to make this new tech safer to use.

The post Futuristic Payment Options appeared first on Merchant Services Vancouver, Canada - Best Online Credit Card & Payment Processing Canada.

POS Systems

Point of sale machines (POS) are normally seen in cash register stations which nowadays frequently include PCs, money drawers, monitor, printers and barcode scanner, not leaving out a MasterCard processing station. Truth be told, the phrase ‘Point of Sale’ systems and the debit card reader are frequently utilized conversely though wrongly in technical sense. Point of sale machines are utilized when a client needs to and is prepared to make a transaction, where the trader scans the goods to be bought, the PC records the data, and the screen shows the price. After the client pays at the check-out terminal, the printer produces a receipt for the client. Also, latest point of sale machines have addition attractive highlights to accommodate for cutting edge functions, for example, CRM, warehousing, financials and inventory organization.

Firms are progressively using point of sale machines as a key advantage of these systems is that they aren’t reliant on price tags. The costs of the goods are connected to the item code, so all the clerk needs to do is check the code and complete the transaction. Just in case there is a price alteration, all the clerk needs to do is adjust it through one of the features of the point of sale. Additional merits include the capacity to rapidly execute different discount, stock control and a promo for clients.

As indicated by piece authored by J.P Post Canada, they’ve undertook a research work in  urban areas, perusing school supply prerequisite records to accumulate how much expenditure is devoted to class supplies for Grade 5 pupils. The group at Huffington Post looked for stuffs on Wal-Mart and Staples, purchasing non-specific or store brands and finding the price average of both.

The outcome they found was that the average expenditure for school supplies was $110 per student yet these records for school supplies alone, and did exclude cloths, additional curricular expenses, and different lessons or exercises outside of college. The scientists and writers published the accompanying tricks to empower parents to come up with a sensible spending plan:

• Be clever! Check out your home, there may be things you have lying around that are as yet helpful and even new.
• Buy in bulk, for example, stationery.
• Don’t be restricted to one shop. Shop around. Due to competition, a lot of shops will have tempting promotions and discounts. Move around and you will undoubtedly discover incredible discounts.
• Most essentially, in the event that you have a budget and a financial plan, don’t deviate from it. Try not to be tempted by other enticing offers and get diverted from your budget.
• Dollar stores now and then offer liquidation of value brand items at mouth-watering costs

The post Back To School Sales Boost Transactions At POS Systems appeared first on Merchant Services Vancouver, Canada - Best Online Credit Card & Payment Processing Canada.

Royal Debit offers business merchants the solutions to accept payments in a secure digital environment

In the not so distance past credit card processing involved those little carbon paper forms and the sliding machine. Between 1960 when the Diners Club card was first issued there have been remarkable transformations in the credit industry.  These days the biggest priority is security both businesses and consumers are demanding more from their credit cards and credit card processing systems that will allow them to make secure purchases and transactions online and offline.

Every day it seems the news reports a new data breach. These reports constantly remind us that security is of primary concern both to the customer and the retailer.  In 2017 alone companies such as Saks, Brooks Brothers and Xbox have been hacked and personal customer data has been exposed. In 2014 the highly publicized hack of Target in the US led to the exposure of personal credit card information for 140 million people, more than three times the total population of Canada.

The numbers are growing every day and cyber-criminals are increasingly hacking a greater number of businesses that deal with vast quantities of customer information.

Digital or ecommerce sales are predicted to triple in Canada by 2020 to $55.78 billion Canadian dollars. Canadians are using ecommerce and purchasing online in far greater numbers than ever before and this means they are using online credit payments. These credit payments are convenient and can be made anywhere in the world. However the need to provide secure systems and

To protect customer data is a critical aspect of credit services.

Royal Debit can help with that burden of responsibility. Royal Debit offers advanced security and top of the line encryption technology. With a multitude of options that allows businesses to integrate the system with pre-existing shopping carts and ecommerce programs Royal Debit can support and enhance your ecommerce businesses with overhauling your entire system.

Royal Debit offers the lowest rates in the industry on their services that include: Debit and Credit card point of sales terminals, integrated ecommerce online payment solutions, as well as mobile payment services.

The post Join The E-Commerce Revolution appeared first on Merchant Services Vancouver, Canada - Best Online Credit Card & Payment Processing Canada.

A secured credit card is very much like a regular credit card, but the major difference is that you’re required to make a deposit against the card’s credit limit. Your credit limit will usually be a percentage of your security deposit or it may be the same as your deposit.Typically an applicant for a secured credit card must deposit between 10% to 200% of the total amount of credit they want. For example if they want a card with a $1000 credit limit they may need to put down a deposit of $1500. In many cases however the deposit may be significantly less than the requested credit limit. Credit card issuers began offering this option for customers as a means of rebuilding credit or simply building credit. Credit card issuers noticed that when the customer thinks they might lose something they are far more likely to pay back the monies owing on time.

In many cases the deposit is around 10% of the credit limit offered. The cardholder is still required to make regular payments on the balance held on the card but the deposit is held as a security measure in case of default. There are a great deal of advantages to the individual who applies for this type of card. The use of the card and regular payments allows the cardholder to develop a credit history that will be useful for bigger purchasers in the future such as a car or even a mortgage.

These types of credit cards do come with conditions that are described in the cardholder agreement. The deposit held by the card issuer will not be debited simply for missing a couple of payments. The deposit is only used as an offset when an account is closed. Accounts are only closed at the request of the customer or when the account is greatly overdue (150-180 days). This does mean though that an account that is say 150 days overdue will continue to gather interest and fees and could end up with a balance that is far higher than the actual initial credit limit. As such the cardholder may be left with a total debt that far exceeds the original deposit and is still required to pay it all back.

Secured credit cards are a great option for building a credit rating or re-establishing credit after a poor credit history. The fees and interest levels charged on these types of cards can be much higher than a standard credit card and for certain people with a very bad credit history these cards can prove to be quite expensive compared to standard card.

The post What Is A Secured Credit Card? appeared first on Merchant Services Vancouver, Canada - Best Online Credit Card & Payment Processing Canada.

As a Business owner, In some industries having to deal with chargebacks is something that happens more often in comparison to other types of businesses. Business Owners such as supermarket merchants/retail merchants and business owners that sell food. Often time face a good deal of fraudulent cards in customer-facing environments. There are various ways a chargeback can occur when accepting a card, such as

Common reasons for credit card charge-backs include:

1.Fraudulent Transaction

The cardholder has disputed the charge and stated it is a fraudulent charge. Provide a copy of any signed receipts and include proof the card was present at the time of purchase to dispute back. Always obtain a copy of the card and signature for disputes.

2. No Authorization

The issuer did not authorize the transaction. Show the denial to the customer and never process a transaction without authorization

3. Duplicate Processing

The transaction has already been submitted once. Enter payment transactions once and avoid entering them again.

4. Cardholder Doesn’t Recognize the Transaction

The cardholder doesn’t recognize your company name on his or her bank statement. Avoid this by using a recognizable name. Present proof of purchase and the customer signature to avoid a credit card chargeback.

Now let’s talk about how to prevent a charge-back with your payments. Some Merchants using 3rd Party Processing companies run into problems because the company name that appears on cardholder’s monthly statements is usually the name of the processing company and not the name of the business where they made their purchase.So, using these tips you can prevent charge-back with your payments:

Ways to prevent chargebacks at your business:

1.Have Policies

Your business should have policies regarding merchandise returns, refunds, or service cancellation; these policies must be disclosed to the cardholder at the time of the transaction. Your policies should be on your sales receipts, order confirmation, thank you letters, getting the idea of everything. The customer might wonder why you add all this stuff to the emails, but when it comes time for questions they can find the info they need to get in touch with you.

2. Do not Accept Expired Card’s

Do not accept a card after its “Good Thru” or “Valid Thru” date has passed, unless you obtain an authorization approval for the transaction.

3. Do Communication

You the merchant need to communicate to the customer in such a way that they need to talk to you first! That you want to make sure they are satisfied. You need to gain their trust and confidence. Remember they are not the enemy. They just gave you money for something and they want equal value.

4. Keep Records

If your business delivers products use a carrier that offers delivery notification. Retain these for your records. In fact, you want to make sure that you keep records for all transactions so you can present these to your merchant provider and the card company if need be. The more documentation you have the better.

5. Work directly with companies

Us at virtuous payments are an agency of First Data which therefore means we are not a 3^rd party vendor reselling services. In turn, this can help your business as should there be a chargeback you would be dealing directly with first data which can help in chargeback dispute processes.

A Good Merchant Provider will work alongside you rather than against the business owner/merchant when it comes to chargeback situations. It doesn’t mean that you are always wrong and the customer is always right. Facts speak for themselves and a good merchant provider will check their options before making a financial decision. Give us a call today to discuss with other in personal ways to protect your business on chargebacks.

The post How to prevent Credit Card chargebacks at your business! appeared first on Merchant Services Vancouver, Canada - Best Online Credit Card & Payment Processing Canada.

So, here is a step by step guide to making it simpler for you! Read on…

1. Think About Penalties and Fees 

Termination date for the merchant account is always mentioned in your contract that can be canceled without penalty. But most people are not aware of it so, you might end up paying penalties and bills to the service provider. Always check your contract date and speak with the representative before your contract finishes.If the time period is merely a month or two away then your payment provider may auto-renew your agreement into another 1-3 years as well, So it is important to have awareness of when your agreement is due.

2. Talk To The Service Provider 

Every service provider is special and has their differences. You will have to contact your service provider for canceling the account. You might need to contact customer care service or the cancellation department/Loyalty department since you no longer want the account. Upon calling, you will have to tell your business details and verify your identity. Always make sure to note down the reference number of the call and details of the representative for further assistant or in case you have issues later on.

3. Describe Your Occurrence 

All service providers will ask you about the reason for cancellation. Explain them the reason for discontinuation and that you no longer require the account. Many service providers will offer you better deals to win over your business and prevent you from canceling. Tell them why you no longer need the account and stick to your decision and make no amendments.

4. Positive Returns 

You will have to return the equipment before the cancellation of the contract. Draft an official mail or fax for the cancellation of the account. Make it a point to get confirmation letters or emails regarding the handing over of the equipment. After your cancellation has been confirmed, you just need to make sure that you are no longer being charged for anything on your account. If you are, then call the service provider again and inform them that the account should be canceled.

While all this might seem like a frenzied task it is quite the other way. You just need to make a call to your service provider and follow the steps that have been mentioned above. Always make sure to keep records, receipts, and track of the confirmation letters. Should you want reconciliation on your penalties and fees for canceling your payments account or assistance with cancellation strategies. Contact us today.

The post How to Cancel Your Merchant Account appeared first on Merchant Services Vancouver, Canada - Best Online Credit Card & Payment Processing Canada.

A good business is one that is flexible and customer-centric.

In the digital turf, merchants, Small business owners, and startups all strive to deliver value to their customers, in one way or other. Most of businesses (especially those who consider the bigger picture) have gladly embraced modern-day technology, as it helps them win more customers and establish dominance in their niche. If you too are keen to harness success, we recommend you to become acquainted with the concept of a virtual terminal.

Virtual Terminal- Making It Easier to Process Card Payments Online

A virtual terminal can be perceived as a web-based version of a physical credit card acceptance device. It is a straightforward and absolutely undemanding solution empowering merchants to accept credit and debit cards payments online. It will not only help you to get paid quicker and better, but would also save you from investing in a physical credit card equipment or POS terminal. All you need is a reliable web connection, your internet-ready device and a standard web browser to start accepting payments outright.

How Does It Work?

Wondering how a virtual terminal works? Honestly, it’s no Jigsaw puzzle that’ll knock your socks off. It’s a very simple process, giving you the ease to process payments in a fast and secured fashion with minimal setup. Here’s how to you use a virtual terminal-

• Customer shares with you their credit card or ACH details (Fancy word for Card Details) via phone or email.
• You open your web browser and login to your virtual terminal.(Much like a online payment machine)
• You submit customer’s payment info.
• You click on ‘Process’ to get the transaction approved.
• Once done, all related parties are notified about the successful transaction.

Your Features & Perks of Choosing Virtual Terminal Services

• Accept credit cards faster and easier
• Charge Customers anytime: Daily/Weekly/Bi weekly/Monthly/ Semi Annually
• Store credit cards on a secure Canadian network and give your customers the concierge treatment by easily charging your client
• Accept credit cards for your local business from virtually anywhere with a laptop and internet
• Ditch the expenses of buying and maintaining a traditional credit card device
• You are in charge of the entire transaction process
• Real-time online reports

As you can see  these benefits are tempting and worth your attention? If you are willing to take a leap, connect with us. We at Virtuous Payments offer the most credible virtual terminal solutions through our exclusive partnerships. We aim to empower businesses and give them digital-wings to realize their true potential, that way your business can focus on what matters most to them.

Discover our offerings and do connect if you are ready for our digital transformation.

The post Learn How a Virtual Terminal Can Benefit Your Business appeared first on Merchant Services Vancouver, Canada - Best Online Credit Card & Payment Processing Canada.

Speaking of comfort and Smartphones, mobile payments has become the Today, a grand fraction of tech-savvy Canadians are using different mobile payment options to transact for goods & services. The mobile wallet (or digital wallet, in many cases) is one of the fastest rising trends in financial technology today. These systems a lot of time and provide next level of security while making or accepting payments.

A mobile wallet is a type of payment service through which businesses and individuals can receive and send money via mobile devices. It is a form of e-commerce model that is designed to be used with mobile devices due to their convenience and easy access. A mobile wallet is also known as mobile money or a mobile money transfer.

The mobile wallet (or digital wallet, in many cases) is one of the fastest rising trends in financial technology today. There has been a great deal of innovation and discussion going on about it, particularly when it refers to cashless payments that can be done offline or online. But what exactly is it, and how does it work?

How Do Mobile Wallets Work?

Digital wallets mostly work through apps with your smartphone. The communication channel might differ from NFC, WEBLINKS, QR-code, SMS, Social Media, etc. but the overall concept of wallet will remain same. To better understand the working of wallets, you first need to look towards how wallets are differentiated. The digital or mobile wallet (sometimes called an e-wallet) is most often an app that can function within a smartphone and aims to replace carrying cash or checks, and stores all your credit and debit cards for you. In essence, it is an advancement of technology that aims to give you convenience and protection. Instead of carrying a wallet full of bills or credit cards, many of which containing your personal information and could very easily be stolen by a thief, the mobile wallet will hold everything for you.

The mobile wallet bolsters a new era of digitized finances. One of the chief advantages of this innovation is convenience. By far, convenience is its biggest selling point, as the mobile wallet can usually be used in Point-of-Sale retail terminals, for online transactions, as well as in-app transactions. It virtually eliminates the need to bring cash or even credit cards.

These digitized wallets work with banks all around the world in order to be able to facilitate the transactions.

It helps to understand that there are a few major categories of mobile wallets — those offered by Apple, Google and Samsung, for example, those offered by major banks, and still others offered by merchants, in which you download their app onto your device and store payment credentials in their app to use for payments. They work by either storing your payment credentials on your device, or off the device on a server. At the point-of-sale, wallets such as Apple Pay can be used at merchants accepting Apple Pay, while merchant wallets can only be used at that merchant’s stores.

While it’s still early days for mobile wallets, it’s not hard to image a wallet-less world. Already it seems a significant portion of Canadians would be in favor. According to the Canadian Bankers Association, 91% of Canadians say innovations make banking more convenient. When it comes to mobile banking specifically, the numbers (unsurprisingly) show that younger people are more open to using their mobile phones to deal with money. About 42% of 18- to 34-year-olds use mobile banking comparable to 92% of those over 45 who do not.

Most popular mobile wallets used in Canada

• Apple Pay

Apple Pay is an easy mobile payment system coming from the technology giant Apple Inc. It was introduced in 2014 and is adopted by several top-tier brands like Walmart, Starbucks, McDonald’s and Apple Store. You can use this mobile credit card processing system to make quick and safe payments in person, on the web, and in the iOS App Store.

• Android Pay

Yet another digital payment system which tempts the population of Canada is Android Pay. It was initially released 2015, making it possible for users to kiss goodbye to physical credit cards. A user who wishes to experience secured and seamless online transactions can store their credit/debit card info on their Android Pay account and use the same anytime to buy a product or service.

• Samsung Pay

Samsung Pay is also rated among the most widely used mobile payments systems. Cherishing the brand value of Samsung Electronics, this easy to use and highly secured payment service allows users to pay for goods & services by a simple ‘wave’ of the Samsung device (select models) near a cash register. There won’t be a need to carry or swipe the credit cards! Unmatched convenience, isn’t?

These mobile payments systems are happily adopted by tech-friendly peeps of Canada to add more comforts in their everyday life. You say, which one is your choice?

How can I accept mobile payments?

To accept mobile payments at your store, you need to get a point-of-sale device that’s equipped with NFC technology. Setting up mobile payments is generally fast and affordable. To accept mobile payments through digital wallets, you need a digital wallet provider. There are dozens of digital wallet companies from which to choose. Talk to your existing payment providers to see if they already work with mobile payments and digital wallets.

How Can Mobile Wallet Payments Help My Business

Increased customer use of mobile wallet technology has benefits for businesses of all sizes.

These include:

Reduced fraud – mobile wallets are harder to steal or duplicate than cards or cash

Decreased payment time – especially important for high-volume businesses

Lower fees – processing fees are expected to decrease over time relative to traditional cards

Better customer loyalty – built through sales and incentives sent directly to smartphones

Leveraging new technologies that connect directly to a rich software experience in the customer’s hand can help enhance their experience and educate them about your company. Innovative small businesses will go beyond merely accepting mobile wallet payments to forming more comprehensive mobile strategies than their direct competitors.

The post 3 Mobile Payment Options Available for Canadians appeared first on Merchant Services Vancouver, Canada - Best Online Credit Card & Payment Processing Canada.

Now more then ever, we can simply shop almost every product and service that would aid in making our lives better and process a quick online payment in seconds. Online transaction is undeniably speedy and convenient. Now no wonder several businesses have hoped the boat of technology and rowing smoothly.

As for the concept around online credit card processing.

What is Online Credit Card Processing?

Online credit card processing is the easiest method to allow your customers to make online payments using their credit/debit cards like Visa, American Express, Master Card and Discover.

There are multiple tools available such as Virtual Terminal or an Online Payment Gateway.

To accept electronic payment card transactions on the web, a business needs a merchant account. Which acts as an intermediate to transfer funds between customers’ and businesses’ bank accounts. When a customer buys a product, the merchant account processes the transaction using a payment gateway & payment processor to authenticate and deposit funds in the merchant’s account.

Many new business owners think that when setting up online credit card processing, you just need to go with an online provider like paypal/stripe and square. Only to learn they didint pick the best option 2-3 months down the line with inflated payment fees.

What are my options for online credit card processing?

• Accepting online credit card processing can help you engage your tech-savvy buyers and serve them even better. For example, many of our customers like utilizing the Clover Only account for invoicing and virtual terminal transactions.
• We also provide integrations with all major shopping carts and gateways such as Woo-commerce, Magento Etc. This is done by connecting the best gateway that connects to your website based on the type of business you operate.

How to avoid Money holds from big companies.

Alot of the times the big companies do not understand your business inside out, which leads to consistent money holds. This is why we help business owners be properly set-up right from the start by telling the online credit card processing companies in advance everything there is to know about how you recieve payment and how fast you provide service. This can also help business owners alot when it comes to avoiding chargebacks since it keeps the merchant payment provider on your side.

We at Virtuous Payments aim to help businesses thrive in our digital era. By providing secure integrations at the lowest rates for merchant services/payment processing solutions for business owners,  which means you get to keep more of your money towards other aspects of your business.

To learn more, Contact Us here to get started!

The post Online Credit Card Processing Explained appeared first on Merchant Services Vancouver, Canada - Best Online Credit Card & Payment Processing Canada.

The Easy to hold Android Payment Terminal is easy to hand over to customers to swipe, tap and enter a PIN, Clover Flex delivers the best in simplicity and flexibility in a 1 device freeing your mind for the things that matter.

Features that make our Android Payment Terminal stand out from the competition:

• Multiple Receipt Options:Additional receipt option(s) to Text Message or Email Message your receipts to customers
• Switch from Wifi / Ethernet and LTE 3G:the android terminal is a Smart terminal which allows you to take it from the cash register to the table and even on the road for deliveries.
• Real Time Reporting:We provide a full suite of business management tools and comprehensive reports to access your Clover account from any internet device. With the dashboard you can access information like your inventory, which automatically syncs to any other devices added to this account. Also Monitor sales and profit trends with Clover Insights.
• Customer retention:With a built-in CRM tool, you can stay connected to your customers. Store their emails, receipts, and purchase history, and incent them with special offers.
• Create Customer Perks/Loyalty programs Free:Create incentives for your frequent customers like Starbucks through free apps like our effective loyalty programs, collect customer feedback and send customer promos in minutes
• Electronic signature:which makes it easier to keep track of receipts and helps prevent future chargebacks
  A Built-in receipt printer alongside a barcode scanner

The post Clover Flex- Canada’s First Compact Android Based Terminal appeared first on Merchant Services Vancouver, Canada - Best Online Credit Card & Payment Processing Canada.