Small Business Funding Alternatives Sought When The Bank Says “NO”

Posted by admin on February 21, 2010 under Merchants | Comments are off for this article

Survey Results Show Banks Missing Opportunity to Satisfy and Retain Valuable Customers

The results of a recent survey of small business owners reveals a desire for banks to offer other options when a loan application is denied. 87 percent of rejected small business loan applicants were not offered any alternative by their bank after they were denied a traditional lending product. However, 69 percent said they would consider an alternative offered by their bank, highlighting an opportunity for banks to satisfy customer need by providing other funding options and ideas.

An overwhelming 87 percent of small businesses surveyed indicated that it is important to have access to a readily available and predictable source of capital, a reflection of today’s credit conditions. These results indicate that banks may have a compelling marketing opportunity to provide additional value, secure customer loyalty and responsibly meet demands for working capital even as credit conditions tighten. The survey was conducted online; respondents consisted of 276 small business operators who accept credit cards as a form of payment in their business.

What Happens When the Bank Says No?
An April 2008 survey released by the Federal Reserve found that approximately half of U.S. banks are tightening their small business loan standards, compared with approximately 30 percent that reported doing so earlier this year. Loan decline rates of 70 percent or more are common. What happens to the small businesses that are turned down for traditional financing, and where can they turn next?

Is Your Bank Still Your Best Source?
Even amidst the documented “credit crunch”, 76 percent of respondents believe that banks are still one of the most trusted sources of capital, despite perceptions that banks are struggling financially. Yet 42 percent also place strong importance on having an alternative or back-up source of capital readily available. A total of 69 percent of the survey respondents said “yes” when asked if they would consider an alternative offered by their bank if the bank was unable to provide a loan or offer the full amount of required capital directly.

Life After “Decline”: Benefits to Offering Alternative Working Capital Solutions
A new value enhancing strategy for banks to consider is alignment with an alternative provider of working capital. Through a well-crafted referral program, banks can create revenue from what would otherwise be a dissatisfied customer. Working with alternative capital providers can be a benefit for both the financial institution and the small business customer in what could be dubbed the “antidote” to the credit crisis.
“Working capital referral programs have the potential to support banks and their loan officers in acquiring, retaining and even expanding small business relationships by providing working capital to businesses that fall outside the bank’s regular lending parameters, all without cannibalizing existing credit revenue,” notes Nick Miller, president of Clarity Advantage, a consulting group specializing in sales acceleration engineering for the financial services industry.

Companies who provide alternatives to small business loans and other forms of business financing are experiencing increased interest in their products. A Merchant Cash Advance is an increasingly popular solution for banks that want to retain the profitable small business checking accounts of small business customers rejected for loans or other bank financing. The product can be delivered through white labeled, co-marketed or referral programs at the time the loan is declined. Training of bank personnel is minimized, because the offer is made through a centralized communication mechanism.

Merchant Cash Advance providers are able to approve requests that banks deny because they focus less on consumer-oriented measures of viability like credit scores and place greater emphasis on the business’s track record of success when making funding decisions. Plus, personal collateral is not required and money can be delivered in as few as 3 days.

++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

Hope For the Best, But Prepare For the Worst

In all likelihood, Murphy’s Law was probably originated by a small business owner.

It’s true that in a small business, anything that might go wrong probably will. It is also true that you can’t possibly plan for everything. However, many smart small business owners know that to take a few precautionary steps early on can save you a world of heartache if when something does go wrong.

Simple Steps to Help Protect Your Small Business

Emergency Fund. Every business should have an emergency fund: a safety cushion of accessible cash ready to handle the unexpected. The proper amount of money for your emergency fund would depend a lot on probable uses. This is a fund that should receive regular deposits to keep it as powerful as possible. Look into accounts that allow regular deposits but might offer benefits for infrequent withdrawals. Be diligent about contributing, and vigilant about keeping its purpose intact; though it may be tempting, don’t spend it elsewhere.

Proper Insurance. How healthy is your business insurance? It is a good idea to spend some time at least once a year to review your insurance plans and options with your insurance agent. Proper coverage in place can help you handle many possible problems as they arise.

Sleep and eat properly. Physical and mental fatigue can certainly be made worse by a poor diet and poor sleeping habits. In taking care of yourself and your small business, sometimes it pays to start with the basics. Make sure you are sleeping well, eating balanced meals and exercising regularly. Some simple attention to the basics your body needs can help you find better focus for your small business objectives.

Identify new sources of help before you need them. Know where you would go if your business was suddenly in a pinch. Play out a couple “what if” scenarios to consider your possible resources. Annually review your credit scores, and identify opportunities and credit lines available with banks or other lenders. Identify any alternative sources of working capital that might work for your needs. Look into each resource to see how much you can get and how quickly. Determine all the things that would need to come together to make each solution effective for you. If possible, have plans and contingencies at least loosely identified so you can reduce your stress in a time of true crisis management.

A small business owner should not lose a sense of optimism, but should be very realistic about what the business might have to face unexpectedly. An expensive emergency situation can quite literally kill a business. Smoothly handling problems as they arise is often the very thing that separates the businesses that survive from those that will not.

Smart business owners know to hope for the best but plan for the worst. They keep their insurance up-to-date and have an emergency fund in place. These business owners understand that to find success in a small business, many challenges will require some form of capital. By taking the time to identify many possible sources of funds to cover a variety of emergency expenditures, smart business owners make Murphy’s Law less likely to impact the business’ stability and growth initiatives.

Looking for a Business Loan or Cash Advance?

Posted by admin on under Merchants | Comments are off for this article

A merchant cash advance (business cash advance) is a great option for small business owners, we offer completely unsecured cash advances up to $150,000! A merchant cash advance has many benefits if compared with a small business loan. We help you capitalize your proven track record that’s why we lend cash based on your future credit card sales. With our cash advances we know you will be on the right track for success, the process is very fast and simple, without the strict requirements of a traditional business loan offered by banks. Traditional business loans will require security (collateral), good credit and a long business history. Newer businesses and business owners with a less than perfect credit history may still qualify for our cash advances.

A commercial business loan is similar to a personal loan but it is used for all types of business purposes and is typically secured by business assets. There are many options to consider when looking for a commercial business loan and this process can sometimes be overwhelming. We can help make access to sources of capital for your business fast and easy. First, take a minute to tell us a little about your business and your financing needs. Your request will then be matched against those funding sources offering what it is you have requested and those to which your funding needs may also apply.

To Apply go to www.merchantcapitalservices.com and send in a preliminary application and

one of our account managers will be in contact with you within 24 hrs.

POS unplugged By Dale S. Laszig of Castles Technology Co. Ltd.

Posted by admin on under Merchants | Comments are off for this article

emember the early days of relationship marketing? Our job back then, as merchant level salespeople (MLSs), was to show merchants how to optimize customer-facing POS solutions, from PIN pads with basic black and white monitors to full-color signature capture touch screens.

Add a video or coupon to the monitor, we advised them. Leverage your customer relationship management database by offering discounts to your customers on their favorite items. It’s about building relationships. Today, merchants and customers have taken relationships to a whole new level. They follow each other on Twitter and “friend” each other on Facebook. We’d insult their intelligence if we suggested they become better aqua-inted. They’re not dating anymore; they’re married. In a post-analog world, a merchant’s traditional media mix is getting a makeover via mobile commerce, social networking, blogs and chat rooms, online ordering, and in-store digital content environments. MLSs need a high-level understanding of these applications, so we can partner with merchants who are looking for ways to seamlessly integrate payment processing across an enterprise. Merchants need to connect with their customers anytime, anywhere and on any device.

Anytime

Virtualization is a driving force in the new POS landscape, forever changing traditional concepts of time and place. In an always-on, always-connected merchant/customer relationship, leveraging five seconds at a checkout counter is no longer mission-critical.

It still makes sense for merchants to offer instant coupons, but if their customers don’t seize the PIN pad moment, they can always opt-in later, with an online order, text or e-mail.

The on-demand component of the digital age has freed consumers from the constraints of scheduled programming. Television shows can be recorded by DVRs, to be screened at the viewer’s convenience, commercial free. Meetings and tutorials can be posted online, to accommodate busy and changing work schedules.

In Always On: Advertising, Marketing, and Media in an Era of Consumer Control, authors Christopher Vollmer and Geoffrey Precourt of Booz Allen Hamilton Inc. address the new consumer-centric playing field, which has made it necessary for merchants and advertisers to personalize their overtures to target audiences. Market research has been replaced by one-on-one, interactive communication.

They wrote, “In an always-on world in which media usage is migrating to digital, advertising can be blocked or skipped, and content can be consumed on demand, marketers have to find new ways to distinguish between those aspects of consumer behavior that will remain the same and those that will change. Many are turning to direct observation of and contact with consumers.”

For more information about the book, visit http://books.google.com/books?id=GV5EomJuc68C&printsec=frontcover&dq=Always+On+by+Precourt&source.

Any device

Interaction isn’t limited to the cash register or credit card terminal anymore, or even the brick-and-mortar store. It happens everywhere we go, through laptop and smart phone browsers that keep us connected to friends, families, employers and suppliers. It’s hard to imagine life without the mobile Web now that it has become so embedded in our collective consciousness.

Internet access, once considered the exclusive province of computers, has gone unplugged. According to Dmitriy Lerman, Director of Marketing at Charge Anywhere LLC, “Smart phones are replacing computers in our everyday lives. Simple tasks like writing an e-mail, reading an attachment, staying in touch with people, getting informed on news and weather, and organizing one’s day have comfortably fallen into the realm of a phone, no longer a computer. Payments are not immune to this paradigm shift.”

Today’s merchants have more choice in POS hardware. Credit and debit cards can be swiped on portable and countertop terminals or on card reader peripherals paired with laptops and smart phones. Secure encrypted cardholder data can be managed by payment gateways.

A major component in the payment value chain, gateways optimize the Payment Card Industry Data Security Standard, increase transaction visibility through secure Web portals and empower business owners with real-time access to transaction data from broad populations of devices. They offer reporting tools to manage that data and the ability to react quickly to questionable transactions and communications failures. For a list of validated payment applications, visit www.pcisecuritystandards.org.

Anyone

We’re living in an age of one-hour sales and text messaging from banks on available lines of credit. POS technology has expanded in scope, beyond countertop devices and customer-facing screens, to a multidimensional, interactive consumer environment. This environment is more conversation than transaction. What does that mean, exactly?

Consider how frequently you receive an e-mail after making a purchase, inviting you to write a review. The company would like to know more about you and your preferences and will post your comments, good or bad, on its Web site, to be shared with other prospective buyers. Or how about the e-mails you receive from manufacturers and credit card issuers, inviting you to join online communities where members can exchange ideas and information?

It’s all part of the new online experience. Anyone can host a Web site, post a real-time video, write a blog and participate in live chat. The media is watching us. Every day, ordinary citizens are pulled from obscurity and elevated onto the world stage. Newly minted celebrities who surpass 1 million hits on YouTube are approached by advertisers who pay to post banner ads and product placements on their sites to be proudly displayed on millions of tiny screens.

While the monetization of social networks and YouTube is being debated, it’s clear that the ever-broadening online marketplace will need fast, secure and reliable methods to process payments, because there’s no place for hard cash in the virtual world.

In my next article, I’ll take a closer look at some cool, new applications that leverage mobile technology, enrich electronic transactions, and deepen the relationship between merchants and consumers. The mobile Web is the next frontier of payment processing and an opportunity for MLSs to demonstrate knowledge and leadership. To paraphrase Visa Inc., it’s everywhere we want to be.

---

Dale S. Laszig is Vice President of Sales in the United States for Castles Technology Co. Ltd., a manufacturer and global provider of smart card, contactless and POS solutions. She can be reached at 973-930-0331 or dale laszig@castech.com.tw.

Need GAS? We Got It!

Posted by admin on under Merchants | Comments are off for this article

The Power of Gift Cards

Posted by admin on under Merchants | Comments are off for this article

Gift and Loyalty Cards

Take advantage of the fast-growing popularity of gift cards. Merchants of all types and sizes are generating tremendous sales results with gift cards. What other product costs less than $1 to put on a shelf, yet sells for $25, $35, $50 or more?

Single stores are generating $10,000 to $100,000 per year in prepaid gift sales. Many are also using the program’s loyalty and reloaded features to keep customers coming back.

So don’t let another holiday season go by without offering gift cards. Put this dynamic product to work in your business today.

One Program Many Uses

• Gift Cards
• Loyalty Cards
• Merchandise Returns
• Promotional Cards
• Electronic Coupons
• Pre-Paid Value Cards

The Power of the Card

• Increases prepaid gift sales two to ten times
• Builds brand awareness
• Keeps full cash value in store
• Customers spend more
• Consumer spends retail
• Creates customer loyalty
• Easy to carry and use
• Powerful promotional tool
• Complete transaction reporting
• Minimizes losses
• Merchant becomes destination vs. impulse

Merchant Benefits

• Value on card can only be spent in merchant’s store
• Significant return on investment per card issued
• Each card purchased generates additional profitability over traditional payment methods
• Consumer pays for product before they shop at your store
• Small merchant can be more competitive with larger businesses and retail stores
• Not just another program – a new product on the shelf!

Last holiday season, Gift Cards represented 7% of all retail sales and outsold paper gift certificates $45 billion to $6 billion for the year.

It’s never been easier or more cost-effective for merchants of all kinds to launch a high-quality, high-profit gift or loyalty card program.  Gift cards allow your business to target and reward your frequent and most loyal customers

• 50% of recipients needed more than one trip to the store to use the value on the card
• 72% of the purchases of Gift Cards were planned (not impulse buys)
• 61% of Gift Card Recipients spent more at the store than the value on the card
• 50% of dollars spent are retail price

PAID IN FULL- THE REAL FULL PAYMENT

Posted by admin on February 20, 2010 under Merchants, On The News, PAYMENT IN FULL | Comments are off for this article

STORY OF THE CROSS IN THE OLD TESTAMENT
“To him [Jesus Christ] give all the prophets witness, that through his name whosoever believeth in him shall receive remission of sins.”  Acts 10:43

First of all, let’s take a look at the New Testament.  Peter is preaching in Acts 10:43 and reminds us that all the Old Testament prophets preached that salvation was through Christ.  Also that all the Old Testament prophets taught that FAITH ALONE was the requirement for salvation.  Need we go any farther?  Take a look for yourself!  Acts 10:43 says “To him [Jesus Christ] give all the prophets witness, that through his name whosoever believeth in him shall receive remission of sins.”

Two things are to be noted.  1. All Old Testament Prophets preached or taught about Jesus Christ being the Savior.  See Galatians 3:8 where Paul tells us that Abraham heard and believed the gospel message of Jesus Christ, “And the scripture, foreseeing that God would justify the heathen through faith, preached before the gospel unto Abraham, saying, In thee shall all nations be blessed.”  2. That faith alone in Christ alone was the means of that salvation.  Note that justification by faith was clearly the message of salvation in the Old Testament.  If salvation is received by an act of faith and has nothing to do with human works or deeds, then it is eternal (See Romans 6:23 “the gift of God”) and cannot be lost.

So often it is implied that you must turn to the pages of the New Testament if you want to read about salvation in Jesus Christ.  Jesus tells that He is clearly spoken about in the Old Testament passages!  Look at John 3:14.  ”And as Moses lifted up the serpent in the wilderness, even so must the Son of Man be lifted up.”  Jesus tells that the story of the cross is equivalent to the story of the serpent on the pole.

Let’s take a look at the passage that Jesus was referring to in Numbers 21:5-9.

“And the people spake against God, and against Moses, Wherefore have ye brought us up out of Egypt to die in the wilderness?  for there is no bread, neither is there any water; and our soul loatheth this light bread.”
“And the LORD sent fiery serpents among the people, and they bit the people; and much people of Israel died.”
“Therefore the people came to Moses, and said, We have sinned, for we have spoken against the LORD, and against thee; pray unto the LORD, that he take away the serpents from us.  And Moses prayed for the people.”
“And the LORD said unto Moses, Make thee a fiery serpent, and set it upon a pole: and it shall come to pass, that every one that is bitten, when he looketh upon it, shall live.”  [Sounds like John 3:16, doesn't it?]
“And Moses made a serpent of brass, and put it upon a pole, and it came to pass, that if a serpent had bitten any man, when he beheld the serpent of brass, he lived.”

Here God illustrates the beautiful story of the cross.  Instead of taking away the serpents in answer to their prayer, God provided a remedy in the form of a serpent.  Just as God did not take away the penalty of sin [death] when Adam sinned, God provided a remedy in Jesus Christ who died in our place to pay for our sins on the cross.

A Serpent was the reminder and emblem of the curse.  It was through the Serpent [Satan] that Adam and Eve were seduced, and brought under the curse of God.  On the cross, Jesus Christ was made a curse for us.  Galatians 3:13 says, “Christ hath redeemed us from the curse of the law, being made a curse for us.”

A BRASS SERPENT-Why brass?  In the symbolism of Scripture brass is the emblem of Divine Judgment.  In Revelation 1:5 Christ is seen as a Judge in His second coming.  ”His feet were like fine brass.”  When Israel was disobedient God told them, “And thy heaven that is over thy head shall be brass, and the earth that is under thee shall be iron (Deuteronomy 28:23).”

The “serpent” spoke of the curse which sin brought.  The “brass” speaks of the judgment of God falling on the One [Jesus Christ] made to be sin for us.
II Corinthians 5:21

A POLE-The pole speaks of the cross.  As the serpent was lifted up on the pole, so Christ was lifted up on a cross.   “And I, if I be lifted up from the earth, will draw all men unto me This he said, signifying what death he should die (John 12:32,33).”  God told Moses to make a fiery serpent of brass, fix it on a pole, and invite the bitten Israelites to look on it and they should live.  It is obvious that Moses was preaching to them the GOSPEL OF HIS GRACE.

SALVATION!  NOT OF WORKS!  CONFIRMED!

SEVEN THINGS WHICH THE ISRAELITES WERE NOT TOLD TO DO!
Religion Vs Christianity

1. They were not told to make a serum to cure them of the snake’s poison.  Religion would offer the serum of good works, church membership, keeping the commandments, baptism, etc.

2. They were not told to help others who were bitten in order to get relief for themselves.  Religion would tell us to engage in works of charity with the expectation that giving relief to others will counteract the deadly virus of sin which is at work in our own souls.  This is the Mother Teresa philosophy.  She would point people to good works as the cure and not faith alone in Jesus.

3. They were not told to fight the serpents.  Many religious leaders would lead us off to exterminate the Serpents.  What use would this have been to those who were already bitten and dying?  All these crusades provide an outlet for the energy of the flesh, but often they do not bring those bitten to a saving knowledge of Christ.

4. They were not told to make an offering to the serpent on the pole.  God did not ask for any payment from them in return for their healing.  Grace ceases to be grace if any price is paid for what it brings.  How often the gospel is perverted on this very point.  The Christian religion [counterfeit] saying, “Give your life to Christ” is an example!

5. They were not told to pray to the serpent.  Religion would have the bitten person pleading with God for mercy and forgiveness, which God has already offered to those that believe.  Many have made the fatal mistake of substituting prayer for faith in Christ.  Remember “faith alone in Christ alone”.  When they prayed for relief, God didn’t take away the snakes or snake bites [the penalty for their sin], but He provided a remedy for the penalty.

6. They were not told to look at Moses.  They had been looking to Moses, and urging him to cry to God on their behalf; and when God responded, He took their eyes from off Moses, and commanded them to look at the brazen serpent [Numbers 21:7]. Moses was the lawgiver and many today are looking to him for salvation.  This is religion!  They are trusting in their imperfect obedience to God’s commandments to take them to heaven.  The Bible states, “Not by works of righteousness which we have done, but according to His mercy He saved us (Titus 3:5).”

7. They were not told to look at their wounds.  Some think that they need to be more occupied with the work of examining their own wicked hearts in order to promote a religiousness that they deem necessary to qualify us for heaven.  Religion can’t save.  Only Christ can save!  The Israelites were simply told to look at the brazen serpent raised up on a pole.  Numbers 21:8 says, “it shall come to pass, that everyone that is bitten, when he looketh upon it, shall live.”

Religion by definition is man doing something of himself to bind himself back to God.  This is why religion can never save.  Only Jesus can save!

To look on the serpent on the pole is the same as trusting Christ’s death on the cross.  ”And the LORD said unto Moses, Make thee a fiery serpent, and set it upon a pole: and it shall come to pass, that everyone that is bitten, when he looketh upon it, shall live (Numbers 21:8).”  Notice the invitation to receive salvation that the Lord gives in Isaiah.  ”Look unto me, and be ye saved, all the ends of the earth: for I am God, and there is none else (Isaiah 45:22).”

Dear reader, I pray that you have trusted Jesus Christ as your Savior by “faith alone in Christ alone”.  Search the Scriptures!  Only Jesus can save!

NEED AN ATM? READ BELOW

Posted by admin on under Merchants | Comments are off for this article

Cash dispensing ATM Machines have become the fastest growing, and most requested service in America Customers today see it as a necessary service of convenience. As a result, there are hundreds of companies today that offer sales and service of ATM machines, most of them selling these ATM machines under a one size fit’s all approach, assuming all customers have the same needs.

Our approach is quite unique from most companies, while we are not one of the biggest companies offering ATM services in our industry, we can safely state that we are one of the few that takes the time to listen to our customer’s requirements before we propose a system that fits that business

We work with the leading vendors and processors in the industry and offer from the most basic terminals only to very high end and sophisticated ATMs.

We are one-stop shop that not only provide an ATM but also offers signage, processing, on-line monitoring, and full service and maintenance for five years.

If you are interested in an ATM in your location, the best approach is to talk to one of our Business Consultants so we could fully understand your needs and goals from the ATM program. After that, we will be able to provide a comprehensive solution that meets your goals today and provides an ATM terminal for growth in the future

BECOME A FAN OF PPP OR FOLLOW US ON TWITTER

Posted by admin on under Merchants | Comments are off for this article

For daily news and for pictures about all the exciting events at Pennsylvania Payment Partners,

become a Fan of us on facebook by clicking below or on the  symbol below.

http://www.facebook.com/pages/Lebanon-PA/PENNSYLVANIA-PAYMENT-PARTNERS-INC/159198710279

Also follow us on Twitter

http://twitter.com/PAYMENTPARTNERS

Your merchant is calling By Dale Laszig of DSL Direct LLC

Posted by admin on under Merchants | Comments are off for this article

he POS universe is an expanding constellation of products and services. This horoscope, based on the Zodiac, comprises 11 “signs” that represent the top processing systems and compatible communications methods for 2010. This chart will enhance, but not necessarily replace, traditional manufacturing forecasts for those of us in the hardware trade.

1. Dial terminals (Acquire-Us)

2010 will be a good year for the dial terminal, which made its debut more than 20 years ago. Dial modems, once considered antiquated when compared to faster Ethernet, Wi-Fi and cellular communications, are making a comeback.

Smaller merchants with low transaction volumes can save the expense of Ethernet and airtime fees, and the cost of semi-annual scans now required by the Payment Card Industry (PCI) Data Security Standard (DSS) for merchants who process card data over broadband cables or Wi-Fi.

2. PIN pads (PIN-Ease)

We’ll see continued growth in customer-facing devices in 2010, as ISOs make integrated POS and cash register systems more affordable for smaller merchants. These PIN pads will come in a variety of styles, from signature pads on metal stands to smaller hand-held devices on flexible cables. New generation PIN pads will feature faster response times, instant coupons, and additional payment options like combinations of points and cash.

3. Cellular technology (Air-Ease)

The explosive growth of wireless solutions will continue to rock the payments world in 2010. As mobile terminals become more affordable, and virtual terminals on laptops and smart phones gain popularity, traditional merchants will increasingly adopt mobile payment platforms for seasonal and occasional use in their tradeshow, point-of-delivery and special event activities.

There will be fewer barriers to entry for cash-only mobile merchants who can choose from an array of secure and affordable systems to process card payments.

4. Thin client (Thin-R-Us)

2010 will usher in a new age of thin POS solutions. Merchants can choose mobile, virtual or host-based systems designed to securely and remotely manage cardholder data. These solutions offer cost-effective alternatives for merchants concerned with PCI security. By outsourcing to a trusted network, merchants will no longer have to invest in larger memory terminals or compliant storage systems.

Cloud-based computing and hosted services are smart alternatives to client-server legacy systems; they provide lightening fast response times and instant updates from the processing host, where transaction data is safely managed.

5. Dual comm (Gen-UI)

Redundant, “twin” processing systems, designed to intercept and take over when other systems fail, will be a logical choice in 2010 for high-volume merchants. Why rely on one system when many of today’s POS offerings come with two communication methods? Dial andEthernet Transmission Control Protocol/Internet Protocol (TCP/IP), and countertop wireless with general packet radio service and dial are two examples of this excellent trend.

6. Integrated systems (Lead-O)

The ability to do more with less is a prevailing requirement in today’s competitive business world. The seamless integration of the POS into larger, enterprise-scale systems streamlines efficiencies and places credit card processing at the core of business intelligence, elevating its importance and increasing its accessibility.

In 2010 more merchants will choose to access credit card processing through proprietary accounting systems, customer relationship management programs and corporate intranets. Find out which of these programs are certified and supported by your ISO and processor.

7. Virtual (Virtuo)

Virtual terminals will be more plentiful and affordable in 2010, driven by increased demand and price reductions in Internet technology. Many virtual terminal solutions are both customizable and brandable and work equally well as primary systems or as back-ups to other more traditional processing technology.

8. Wi-Fi (Libro)

2010 will see a continuance of large Wi-Fi installations in sports stadiums, shopping malls and other venues that promote Wi-Fi hotspots to encourage the foot traffic of laptop computer users. Merchant level salespeople (MLSs) can encourage smaller merchants to leverage existing TCP/IP infrastructure at their stores through secure Wi-Fi Protected Access-enabled routers that communicate via Wi-Fi with credit card terminals.

This will speed up transaction times, eliminate the need for a secondary phone line and be easily installed without popping any tiles.

9. TCP/IP (ScorePro)

Internet access is the driving force behind today’s technology convergence. Connecting and sharing messages, images and ideas through social media, e-mail, instant messaging and conferencing technology has made our world smaller and flatter. It’s only natural that merchants who have become accustomed to online banking will also want to view their credit card transactions in real time.

Downloadable, exportable online reporting will give merchants the ability to manage their credit card processing and react quickly to fraudulent transactions or suspicious activity. Additionally, we’ll see continued acceptance of Ethernet TCP/IP as a primary communications method for card processing across a wide array of platforms: integrated POS, dual-communication countertop terminals and virtual terminals will rely on the ease and speed of broadband.

10. Vertical (Segmentarius)

Consultative selling will continue to separate professional MLSs from rate jockeys in 2010. The best approach to building relationships with merchants is to analyze their business requirements and offer solutions that can be customized and adapted to their particular needs. Many ISOs, processors and technology companies offer vertical solutions designed for specific industries.

Targeting an industry with a customized solution can be a rewarding approach for MLSs and will separate you from the many generalists in our mature and competitive market.

11. Refurbished (Careworn)

The underappreciated, utilitarian refurbished terminal will be a force to contend with in 2010 and beyond. Many merchants are reluctant to part with these relics of a bygone era, despite end-of-life declarations from manufacturers and dire warnings about PCI PIN Entry Device compliance by processors. It will be our responsibility as MLSs to educate our merchants on the benefits of upgrading and the hazards of using older, noncompliant systems.

New Year outlook

The payments industry is marked by an abundance of POS technologies. By setting merchants up with POS systems, MLSs provide a valuable service to business owners everywhere. Even in today’s challenging economic conditions, our industry remains strong. Let’s make the most of it, and have a great and fulfilling New Year.

---

Dale S. Laszig is a writer and payments industry executive with a diversified background in sales and marketing. Her company, DSL Direct LLC, helps industry professionals and business owners leverage electronic transaction technology. She can be reached at 973-930-0331 or dale@dsldirectllc.com.

POS Horoscope 2010 by Dale S. Laszig of DSL Direct

Posted by admin on under Merchants | Comments are off for this article

he POS universe is an expanding constellation of products and services. This horoscope, based on the Zodiac, comprises 11 “signs” that represent the top processing systems and compatible communications methods for 2010. This chart will enhance, but not necessarily replace, traditional manufacturing forecasts for those of us in the hardware trade.

1. Dial terminals (Acquire-Us)

2010 will be a good year for the dial terminal, which made its debut more than 20 years ago. Dial modems, once considered antiquated when compared to faster Ethernet, Wi-Fi and cellular communications, are making a comeback.

Smaller merchants with low transaction volumes can save the expense of Ethernet and airtime fees, and the cost of semi-annual scans now required by the Payment Card Industry (PCI) Data Security Standard (DSS) for merchants who process card data over broadband cables or Wi-Fi.

2. PIN pads (PIN-Ease)

We’ll see continued growth in customer-facing devices in 2010, as ISOs make integrated POS and cash register systems more affordable for smaller merchants. These PIN pads will come in a variety of styles, from signature pads on metal stands to smaller hand-held devices on flexible cables. New generation PIN pads will feature faster response times, instant coupons, and additional payment options like combinations of points and cash.

3. Cellular technology (Air-Ease)

The explosive growth of wireless solutions will continue to rock the payments world in 2010. As mobile terminals become more affordable, and virtual terminals on laptops and smart phones gain popularity, traditional merchants will increasingly adopt mobile payment platforms for seasonal and occasional use in their tradeshow, point-of-delivery and special event activities.

There will be fewer barriers to entry for cash-only mobile merchants who can choose from an array of secure and affordable systems to process card payments.

4. Thin client (Thin-R-Us)

2010 will usher in a new age of thin POS solutions. Merchants can choose mobile, virtual or host-based systems designed to securely and remotely manage cardholder data. These solutions offer cost-effective alternatives for merchants concerned with PCI security. By outsourcing to a trusted network, merchants will no longer have to invest in larger memory terminals or compliant storage systems.

Cloud-based computing and hosted services are smart alternatives to client-server legacy systems; they provide lightening fast response times and instant updates from the processing host, where transaction data is safely managed.

5. Dual comm (Gen-UI)

Redundant, “twin” processing systems, designed to intercept and take over when other systems fail, will be a logical choice in 2010 for high-volume merchants. Why rely on one system when many of today’s POS offerings come with two communication methods? Dial andEthernet Transmission Control Protocol/Internet Protocol (TCP/IP), and countertop wireless with general packet radio service and dial are two examples of this excellent trend.

6. Integrated systems (Lead-O)

The ability to do more with less is a prevailing requirement in today’s competitive business world. The seamless integration of the POS into larger, enterprise-scale systems streamlines efficiencies and places credit card processing at the core of business intelligence, elevating its importance and increasing its accessibility.

In 2010 more merchants will choose to access credit card processing through proprietary accounting systems, customer relationship management programs and corporate intranets. Find out which of these programs are certified and supported by your ISO and processor.

7. Virtual (Virtuo)

Virtual terminals will be more plentiful and affordable in 2010, driven by increased demand and price reductions in Internet technology. Many virtual terminal solutions are both customizable and brandable and work equally well as primary systems or as back-ups to other more traditional processing technology.

8. Wi-Fi (Libro)

2010 will see a continuance of large Wi-Fi installations in sports stadiums, shopping malls and other venues that promote Wi-Fi hotspots to encourage the foot traffic of laptop computer users. Merchant level salespeople (MLSs) can encourage smaller merchants to leverage existing TCP/IP infrastructure at their stores through secure Wi-Fi Protected Access-enabled routers that communicate via Wi-Fi with credit card terminals.

This will speed up transaction times, eliminate the need for a secondary phone line and be easily installed without popping any tiles.

9. TCP/IP (ScorePro)

Internet access is the driving force behind today’s technology convergence. Connecting and sharing messages, images and ideas through social media, e-mail, instant messaging and conferencing technology has made our world smaller and flatter. It’s only natural that merchants who have become accustomed to online banking will also want to view their credit card transactions in real time.

Downloadable, exportable online reporting will give merchants the ability to manage their credit card processing and react quickly to fraudulent transactions or suspicious activity. Additionally, we’ll see continued acceptance of Ethernet TCP/IP as a primary communications method for card processing across a wide array of platforms: integrated POS, dual-communication countertop terminals and virtual terminals will rely on the ease and speed of broadband.

10. Vertical (Segmentarius)

Consultative selling will continue to separate professional MLSs from rate jockeys in 2010. The best approach to building relationships with merchants is to analyze their business requirements and offer solutions that can be customized and adapted to their particular needs. Many ISOs, processors and technology companies offer vertical solutions designed for specific industries.

Targeting an industry with a customized solution can be a rewarding approach for MLSs and will separate you from the many generalists in our mature and competitive market.

11. Refurbished (Careworn)

The underappreciated, utilitarian refurbished terminal will be a force to contend with in 2010 and beyond. Many merchants are reluctant to part with these relics of a bygone era, despite end-of-life declarations from manufacturers and dire warnings about PCI PIN Entry Device compliance by processors. It will be our responsibility as MLSs to educate our merchants on the benefits of upgrading and the hazards of using older, noncompliant systems.

New Year outlook

The payments industry is marked by an abundance of POS technologies. By setting merchants up with POS systems, MLSs provide a valuable service to business owners everywhere. Even in today’s challenging economic conditions, our industry remains strong. Let’s make the most of it, and have a great and fulfilling New Year.

---

Dale S. Laszig is a writer and payments industry executive with a diversified background in sales and marketing. Her company, DSL Direct LLC, helps industry professionals and business owners leverage electronic transaction technology. She can be reached at 973-930-0331 or dale@dsldirectllc.com.