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Sometimes you know it all with 1 Question Measuring customer service is critical to any business, and in 2016 SignaPay is going to implement a proven method for understand where we are today using the “Net Promoter Score” NPS, a one-question survey that gives a company an idea of how its customer’s feel about the products and services they provide.  NPS was developed by Fred Reichheld of Bain & Company nearly fifteen years ago and has been shown to strongly correlate to how fast a company grows in the future.  The beauty of the survey is that it is easy and quick, customers answer a single question: How likely are you to recommend SignaPay to someone you know? Customers answer with a number between 0 (not likely at all) and 10 (Extremely likely).  Reponses are grouped into three categories and the final score is calculated based on the promoter and detractor categories, the passive responses are ignored.  Promoter: Customers...
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Security – Safety is not a point in time but a journey The holiday season is here and we need to prepare so that we are not vulnerable to attacks during busiest time of the year, the holidays. We all like to take advantage of some of the great deals online but if your device is connected to the internet, including mobile devices like smartphones and tablets, you need to be protected. Scammers and cybercriminals not only target large enterprises but also target the individual shopper. Staying alert and aware of what comes through email is one of the most important security rules. Small and large enterprises spend a large amount of money on protecting their networks, even in your home a simple firewall protects you from cybercriminals but all the protection that most devices give you is for external attacks and not for attacks that get initiated from inside your network. Here are a few tips: Be aware of emails about problems...
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Posted by on in Payment Industry
Are fraudsters targeting your business? Chances are if you haven’t upgraded your credit card processing equipment or you have unsolicited phone orders you may be a target to fraudsters during the holiday season. Regardless of whether you are a diner, auto parts store or a clothier, you could be at risk of fraud with counterfeit cards.  If a merchant accepts credit card payments and isn’t using an EMV capable device fraudsters see you as easy prey.  If your method for accepting payments doesn’t include an EMV capable device you, the merchant, have 100% of the liability with no defense.  If you are a retail merchant and someone has contacted you to purchase merchandise from out of state think before you ship!  If you sell something that would be readily available in most any state ask yourself or ask your customer how they found out about your products. Understand what makes you different than a retailer in...
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5 Things to Look for In Payment API In today’s world there are a number of options available for developers for accepting payments via API. If you are developing software for clients, or your own startup, there are several factors you should consider when choosing your payment partner. This holds especially true with the B2B. Ease of Integration – Let’s face it, getting payments into software can be complex. When you’re looking for and API you want it to be simple and work. Make sure that your payment partner is offering their API in the latest technology. They need to have thorough documentation and SDKs available in several languages. If these things are not readily available then you may want to look for another partner. Flexibility on Pricing – It has become very common for companies that offer payment APIs to set their prices quite high. Visa and Mastercard charge interchange rates to any company processing payments. These companies...
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Mitigating E-Commerce Fraud for Small Business in the New EMV World With the implementation of EMV in the USA consumer marketplace, fraud has made a shift from card present transactions to the e-commerce world. Merchants taking payments on the Internet through an online store need to take extra care when it comes to screening online transactions. Here are a couple of strategies that can help mitigate e-commerce fraud: Proximity of the customer – Most of your customers should be fairly local or from surrounding states. Unless your product is highly specialized, there is little reason why a cardholder from Washington would buy 4,000 generic widgets from you in Florida. Accept a different form of payment on large first orders from new customers – By accepting this different form of payment, such as a wire transfer, you will guarantee payment and know this new customer is legitimate. Fraudsters will not wire you money, real customers will. Once you are comfortable with the new...
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Spot Fraudulent Applications Before It Affects You As an ISO, you are the first line of defense in stopping fraudulent applications before submission and potential losses. Where and how the application originated can give you a good idea on whether the submission is fraudulent or legitimate. Here are some red flags to watch for when analyzing your new applications: Did the application come to your office unsolicited? In other words, did your office make an effort to obtain the merchant account or did it fall into your lap? Merchants are constantly getting phone calls and other correspondences from ISOs trying to get them to switch processors. Hardly ever does a merchant call an ISO to obtain processing. If it comes unsolicited, it is most likely fraudulent. Did the merchant come from a “referral” or the Internet?  If “referral” is the response that you get, ask the merchant who referred them. The merchant should be able to answer this...
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Let’s Talk - Mobile Payments Consumers use mobile devices to pay bills, shop and use mobile apps to make their life easier. Consumers have been getting comfortable with mobile payments over the last five years. They are continuing to experiment and test and will continue over the next few years, but after that watch how it grows and see how mobile payments increases. $142 million is expected in mobile payments over the next 4 years, reported by Forrester, a technology research firm. We are all watching how ApplePay is going to impact mobile transactions. What we already know from experience is that Apple changes the way consumers do things and that will directly relates to growth of mobile payments. ApplePay has everyone talking payments – retailers, merchant processors, referral agents, merchants, banks and consumers. There has been a lot of talk about security and technology but what’s most important is talk is educating the merchant and...
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Staying Relevant as Payments Change Technology continues to shake up the way we receive payments. Acquirers are making strategic plans and their partners can take advantage if they stay relevant. Listed below are 5 ways to meet the challenges and be prepared for the ways businesses choose payment partners today. Controlling the payment interface and the entire merchant relationship is different today. Merchants are looking for partners that can help with integrations so it’s important today to have a clean API. One solution will not meet the needs of all types of merchants. It’s critical to offer flexible solutions that serve different types of customers. Deliver merchants access to new channels. Doing business today needs to be easy and fast. Introduce Frictionless Applications and Click-to-Agree to engage merchants quickly. Embrace new payment types. Facilitate and educate the way merchants can accept payments today. NFC solutions to accept Apply Pay and Samsung Pay. Acquirers have valuable data that...
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Don't be a Target - Protect Your Customer Data! To sharpen and build your safeguards is to get ahead of a security breach. Modern technology has made advanced POS systems, data breaches and privacy violation more common. Thus, as a merchant protecting your customers information is vital when maintaining trust and affinity. The following will address key actions that, when taken, insures secure conduct. Cloud-Based POS System POS systems over the cloud joins simplicity, affordability, and security by removing sensitive information from the premises to a virtual vault, offering inherently fast, safe, and easy storage for your customer information. Employee Security Awareness Training Employees should be equipped with the tools necessary to protect customer data. Training programs that teach how to make strong passwords, the ability to detect exploits, and how to assess document data breaches will cultivate a skilled and secure workforce. Assess What You Don’t Know Consider a third party security partner to conduct a security audit and...
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The EMV Liability Shift Deadline - Sooner than we think! The well-publicized EMV mandate is looming larger for merchants as we quickly approach the October 1st, 2015 deadline. That is the date when the counterfeit and, in some cases, the lost or stolen liability shifts from the big banks to the merchant. After October 1st, if a chip enabled card is presented for payment and the merchant is unable to read the chip on its terminal, the merchant assumes the burden of the fraud risk. Please re-read that carefully: The merchant, not the issuing bank, assumes the burden of the fraud risk. EMV and NFC (ApplePay) terminals are abundant and available and affordable today. They provide fast, reliable processing for merchants who prefer to use a counter top solution. If you are a merchant with a POS system, you may not have an EMV compatible solution yet. A new device will be required to read the chip cards that your customers...
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Unified Commerce the Goal for Retailers PayHub and SignaPay remain focused everyday on the continued development of a front end solution that manages all forms of payments for our partners and merchants. Data collection becomes more important every day and the vision of an "omnichannel" that can quickly provide information that delivers solutions for our customers is a critical piece of our technology plan. This article shares more insight into the future of the payment industry and just how quickly it is changing....
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New SignaPay Website We are very excited to share with you our newly designed website; www.SignaPay.com! The fresh new look, user-friendly navigation, and responsive functionality are just some of the features you will notice on the new SignaPay site. Our goal was to create a streamlined platform for our ISO partners and their merchants to access all of the merchant services information they need in order to manage and grow their business.  A lot has changed from a design standpoint but all of the important bits are still there. The login for ISO agents and merchants is located in the top right corner. This provides access to the same tools you’re used to. In the coming months we will introduce you to some expanded account management solutions that will really put the information you need at your fingertips. If you’re looking for forms or applications you’ll find them in the support section organized by...
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Merchants have until October 2015 to comply with the EMV liability shift to avoid the responsibility of fraud. Visa, MasterCard, American Express and Discover are rolling out the EMV chip credit cards and replaced magnetic stripe cards earlier this year. Merchants have a deadline to install EMV POS machines at checkout by October 15th, 2015 or the liability shifts to you. The amount of credit card data breaches and fraud throughout this year makes it important to take care of this sooner than later. Credit card and debit card payments are the preferred choice of payment by consumers and fraud is increasing rapidly. The concerning thing you need to know is that recent surveys show that less than 20 percent of small to medium size retailers will be ready. And over 50% have little or no understanding of what the liability shift could mean to them and their business. Upgrading your...
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 “Change is the end result of all true learning.” ― Leo Buscaglia Money 20/20 was a tremendous educational experience for any payments professional.  Not only was it a networking opportunity, it was also wall to wall education on the latest technology and trends in payment processing.  It brought together next level thinkers from all aspects of payments into one place.  Some of the interesting topics were:   - The impact of Bitcoins  - Rollout of the innovative Poynt terminal - State of the Union from Visa and American Express CEOs - The mobile point of sale evolution - Risk and fraud management - Real-Time payments - Mobile shopping applications and beacon technology Several new applications and products were pitched to the attendees at various breakout sessions. These addressed B2B network creations to handle invoicing and payments, an app that rounds up transactions and donates the change to charities and an application...
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Posted by on in Apple Pay
With the introduction of Apple Pay a few weeks ago, the debate about whether NFC technology at the point of sale would stick around was ended with an exclamation point. NFC and EMV payment acceptance will effectively become a requirement at every point of sale in the US within the next 12 months. As sales people, we have a tremendous opportunity to embrace this technology need and provide a solution for each of our merchant clients. If we don’t, someone else will. Within a relatively short period of time, consumers will not have to take a payment card from their wallet to pay for goods and services. In addition to that, added benefits of loyalty, gift, coupons, offers and information will be communicated to every consumer as they enter a store, hotel, grocery store or mall. At SignaPay, we are embracing this change in a big way and fully intend to...
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Too many times during the course of a day, I am distracted by my cell phone ringing, an email notification dinging or a co-worker or family member that needs “just five minutes.” I may have lost my focus and the challenge is getting back on track.    Concentration is consciously controlling where our attention is focused for a period of time without being distracted, something that can be hard to do when we’re always plugged in. However, the reality is we can’t cut ourselves off from anyone or anything that is important either.    We can do a few things that will allow us to attend to what is appropriate and let go of what is irrelevant by making a few changes. Research shows that we gain three to five hours of productivity per week when we plan, schedule and reduce distractions.  5 easy or “not so easy” things to do...
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Tips for a New Merchants and review for the more Seasoned Merchant. It’s the time of year when everyone one does more – more buying, more eating, more spending, more charging! Merchants benefit greatly from accepting credit cards and can grow a business exponentially! It’s important to know and review the basics to manage risk to your business. Obtain a positive Address Verification (AVS) and Credit Card Security Code (CVV2) for all Credit Card transactions. Merchants with a brick and mortar shop should be swiping as many transactions as possible, However, there are times when keying a transaction is the only option. When keying a transaction the terminal or gateway will prompt you to obtain an AVS and a CVV2. This information must match with the billing information at the cardholder’s issuing bank. This insures that the credit card belongs to the potential customer. If you are looking for the lowest...
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The payment industry is a battlefield and many of us are fighting the fight of change. We have no intention of fighting the fight at all costs, however we are venturing into new territories and that requires us to listen to others, ask questions and be more active. This article is a good reminder that people are important and leading others through change is critical to the relationships we have nurtured for years. SignaPay is always focused on how we can help others succeed and today that means something different - technology solutions, packaged services and more partnerships.   The leaders within the payment industry today and tomorrow will be collaborative and that's a tactical plan we embrace at SignaPay.  http://blogs.hbr.org/2014/08/great-leadership-isnt-about-you/...
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How is John Martillo preparing SignaPay for the future of payment services? In anticipation of an industry shift toward technology-based solutions and ISV distribution channels, John Martillo is on the move.     In August, he moved SignaPay into new offices, increasing their space from 5500 square feet to 12,000 square feet.  This gives the company space to support growing sales, technical support and customer service. The new offices are located at 4100 W. Royal Lane, Suite 150, Irving, Texas 75063.    Martillo also announced the addition of two new Vice Presidents to the company’s  management team. Industry veteran Jason Putnam and technology expert Tom Marsan both bring the knowledge and experience needed to develop and manage the creation and integration of new technologies, services and solutions.  Tom Marsan, VP of Operations has extensive experience in payment processing operations and reengineering. He brings to SignaPay an expanded network of operational and...
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The times are changing - which includes the payments industry. Embrace change or be left behind. The days of selling merchant accounts strictly on price are evaporating quickly. In today's payments ecosystem, clients are looking for more technical solutions and value selling is becoming a requirement.  SignaPay recently partnered with 24Fundraiser an online donation solution for non-profits that provides auction software, event ticket sales, donation web pages and donor management services. Tom Kelly and his team at 24Fundraiser have embraced technology with bundled services and an integrated software solution that offers one cohesive program that has historically required multiple programs from different providers. Now it is supported by one software solution with the data is in one place and readily accessible. 24Fundraiser is an integrated software solution that makes fundraising and event planning seamless helping non-profits raise more money. It is estimated that online donations increase between 20% and 30%.  Now...
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