Visa Exploring Blockchain to Power Money Transfers

Visa’s diving into blockchain technology with a brand new project focused upon revamping remittances.

Visa Europe Collab, the company’s innovation arm, is working on a proof-of-concept in order to “explore an alternative to conventional remittance processing” using the blockchain. They’re teaming up with a Bitcoin startup called Epiphyte, which helps the big financial players gain legal access to the Bitcoin blockchain.

This Visa Europe Collab project has been in development for 100 days and will be sharing findings soon, according to a blog post.

Visa isn’t the only major financial player interested in exploring online assets for remittance transmissions. A cryptocurrency business known as Ripple is focused on developing direct digital channels for banks to send international money transfers without having to pay larger bank to facilitate transfers. Rebittance is another company offering a service for consumers which aims at sending money internationally at a low price.

However this is the first time a major financial organization has publicly began an exploration into using the blockchain to power global money transfers.

To read more click here.

Best Payment Processing for Merchant Services

When we are shopping online our biggest concern is, is it safe? On some websites online shopping means that you have to pay in advance and this requires credit card processing. This is when the customer questions the safety of the website, whether their payment process is protected by the proper authorities or not. Here the business has two roads, either it will get customers because of assured protection or lose customers because of poor assurance.
Consumers now actively support brands which provide online shopping and payment services, so people who are not online yet get going and those who are, make sure to get authorized protection from best E-commerce payments service providers. There are many companies who can help you in this matter. For example the Sunlit Merchant services, they listen to you and provide you with the best solutions.

So if you are an ecommerce business your top most priority should be towards gaining your customer’s trust by providing them protection for their personal information. What E-commerce payment gateway does is that it enables your online business to accept payments through the website. This way you do not have to wait for payments and assures you the confirmation of customer’s order. So your online store becomes a one stop shop for customers; click, pay and delivery.

What happens with such services is that when a consumer visits your online store and after shopping, when they go to check out the online business will not only accept cash but other electronic payments as well like electronic checks, debit and credit cards. All this will be directly accepted from the consumers through the online portal. This will enable the business to be secure, dependable and fast. Such software is built using the latest technology and best codes which makes them user friendly.

Such payment process is also a way to attract more traffic to your online business, because this shows that the business is working not only for their profits but also to provide the customers with best facilities. Almost all the online businesses have started providing such services to their customers, this makes them convenient for the customers. When an online business offers such services, it does not only makes life easier for the customers, but also for the business holders, as the payments are directly transferred to their bank accounts.
Conclusion:

For online businesses E-commerce payment gateway like credit card processing, is a blessing in disguise. This makes it easy to accept payments and the payments do not require any human handling as they are directly transferred to the bank out. Such merchant services have made life easier not only for consumers, but also for the business holders. Payments can be received from any part of the world and in just few minutes. Moreover, both persons get an e-receipt for the transaction made and received with all detail like time, date and amount. This makes it easier for you to track your payments and receiving.

Merchants and Issuers Continue to Lag on EMV

Nearly six months after the EMV chip liability deadline, merchants and issuers continue to lag behind when it comes to EMV-enabled POS system implementation, leaving consumers confused and systems vulnerable.

Experts, however, are not surprised.

“I think we are where we expected to be since the U.S. market is the largest and most complex payment ecosystem in the world, and there’s no mandate or requirement that retailers participate in the EMV migration,” Randy Vanderhoof, executive director of N.J.-based Smart Card Alliance, the Princeton Junction, said. “The result is there is going to be a mixed response. That is what we are seeing.”

The 4 major U.S. credit card issuers Visa, MasterCard, American Express and Discover had established October 1st, 2015 as the day when credit card fraud liability would shift to merchants if they didn’t have an EMV payment system in place.

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Improve POS system by bringing store front and website together

You spend time working to build your business by marketing the store to bring in consumers, advertising your specials, and contacting all interested parties so everyone knows who you are and where you can be found. Not only have you been doing all the above every month you have gone the extra mile to create an ecommerce website to display store products and your monthly specials.

One slight issue has come to your attention over time from customers and would now seem more customers are having difficulty placing orders online due to errors appearing whether it is in price or inventory name. You have also taken notice to the customers in the store making comments on how slow the purchasing is taking place. After hearing all of the above the thought now comes to mind what POS system you have been using is not exactly working the way you want and needs to be changed. You have determined it is time for that POS system to have an upgrade.

To best care for your situation, your ecommerce page and your store deserve equal attention so everything is treated equally and all  inventory can be read together.  Contact our expert staff today with your needs at info@sunlitmerchantservices.com so we can best assist with that POS system upgrade for your business and ecommerce stores.

Do you Need a Fresh Perspective on Your Merchant Processing Pricing?

Every business owner is already getting started strategizing on how they can increase their business sales and activity in 2016.  Many of them are considering new sales approaches, products to offer and promotional ideas in order to pique interest and increase their numbers.  One thing many business owners tend to overlook is whether or not they are getting the best quality customer service and pricing from their merchant processor.  Consider a few questions when you think of your processor.

  • Does your merchant processor expedite your needs when you have an emergency or need assistance?
  • Do you feel valued by your processing company and that they appreciate your business?
  • Does your merchant processor educate you on different thing you can do to avoid chargebacks or protect your business from fraud?
  • Do you think you could be saving more money on your merchant processing fees?
  • Do you understand what you are currently paying on your processing fees today?

If you answered no to any of these questions it would be advantageous to contact an expert at Sunlit Merchant Services to find out how you can lower your processing costs and get better service than you ever thought possible.

Email your most recent merchant processing statement to info@sunlitmerchantservices.com or fax directly to 858-408-1988 with a cover sheet and your contact information and one of our experts will get back in touch with you as soon as possible to help you make 2016 the best year of business yet.

Five key points to build your ecommerce business

The small business owners have experienced a very difficult time during this recession and there are many who still have been fighting to keep above water and regain a profit by further marketing their product or service to customers. There are specific key points or steps that can be done to build your ecommerce business. Every small ecommerce business owner goes through marketing tactics but these steps are a bit more targeted and should give better guidance to building your ecommerce business:

  • Study your customer market carefully. The better you are aware of your target customer market the higher chances you will have at bringing them in with marketing and communication through uses of networking to others including the norm of marketing and advertising campaigns. Knowing the above will increase your website traffic, product or service sales and build your profitability.
  • Bring in new products or services by use of wise choice. A very good thought to always consider when wanting to place an new item online to sell consider the question is an item that will benefit mass markets i.e. the customers who shop in Cosco, Target, Walmart, etc.al? If the product is more of a target niche it is okay to sell it but be prepared to get your customers more marketed to your website to purchase that product.
  • Build your web traffic by writing about your ecommerce business. Spend time in writing strong articles for your web blog once or twice a week to show what your ecommerce can provide as a value to the consumer. When writing that blog provide strong focal points about the item or service and also provide a photo of the product. If it is a service provide two photos (before and after) that show what benefits you can provide.
  • Personal marketing of product or service using email. Business email is precious as you communicate with clients using it. Consider using business email to build monthly campaigns and share them with target customers who would be interested in purchasing from you. Your marketing campaigns can be shared this way and you can build special sales using direct email.
  • Join the social media networking train. Social media is actually your best friend because you can use things such as Twitter, Stumble Upon, and yes even Face Book to publish news about your ecommerce business and monthly sales that are taking place. Social media groups can benefit your website traffic and increase your ecommerce business profit; it’s well worth performing that task.

Sunlit Merchant Services provides security for ecommerce business, visit them today!

Security breach at LoopPay Inc

A Chinese hacker ring known as the Codoso Group also known as Sunshock Group is under security breach as they have allegedly broken into the computer network company known as LoopPay, Inc. What is more frustrating about this security breach as some may see is the day these alleged hacks began is as early as March 2015, quite disturbing considering time and location of activity. As of now there are investigative teams working on the matter to determine further information concerning the breach and the infestation of the computer system.

Because of cyber protection and high security from LoopPay the alleged hackers were only able to obtain technology information. Furthermore, even though the security breach did damaged items they have been removed and placed into another area away from all other operating computer equipment to ensure safety. Lastly, no personal payment or customer information was exposed at any time to this security breach.  Because of this security breach hacking attempt, further security is being used as Codoso hackers are known to use specific coding in an attempt to break through a security breach once again.

Cyber technology is something all business must make use of any more due to the above issue as we need to protect our customers and our data from being taken out of our computer systems. It is highly suggested to ensure your computer system is safe and well equipped with security to manage the traffic taking place on the Internet highway.

Top two restaurant POS systems for 2015

There are multiple restaurant POS (point of sale) systems that have come onto the market since the POS has been created. The problem with doing POS every restaurant differs from one another in size which means every dining place will have various needs because of monthly budget. This is a very important factor but more important about using the POS system is it must comply with regulatory needs every business owner does during the daily operations. That’s not too much to ask is it?

One would think it isn’t a lot to ask for standard features as they should be quite simple for a business to live up to right? Yet when researching the many restaurant POS systems on today’s market here are certain ones that stood out because they were working for the business and wanting a restaurant to have the best POS system for their environment:

  1. Touch Bistro is a choice restaurant POS system for all dining establishments of any type because of the multiple features that come with it. Not only is this a wonderful working solution the point of sale ease provides your staff the capability to allow the customer ability to check out at their table which gives them privacy, customer service, and quality satisfaction dining at your establishment.
  2. Got Merchant is a restaurant POS system solution for various restaurants including bar establishments that are serving food. Got Merchant will provide software, hardware, installation of the item including staff training. They will also answer questions and provide support when it is needed. All of the above is completed for a small monthly fee per each station. That fee covers technical support and a lifetime warranty of the equipment itself.

Visit Sunlit Merchant Services to find the right restaurant POS system for your business and budget.

Did you receive a new credit card in the mail? This is why…

Swiping your credit cards when you make a purchase could very well soon be a thing of the past.  If you haven’t received a new credit card in the mail yet you will soon.  Banks have been sending their customers brand new chip-enabled credit cards that only require being inserted in credit card readers to complete transactions.

These new chip-enabled cards look similar to the credit cards you’re used to except for one small difference, a small metallic chip located on the front of the card.  Think of these EMV microchips as mini computers.  They securely hold your payment data as well as provide a unique code specific to each purchase.  This is a change from having cards where all the data is exclusively held on the magnetic stripe.

Chip-enabled cards have actually been around for more than 20 years and are prevalent in many other countries but are only now becoming the primary payment method of use in the USA.  EMV cards are more secure than magnetic stripe only cards and add additional security each and every transaction.

Swiping your credit card could soon be a thing of the past.
Banks have been sending out new chip-enabled credit cards that have to be inserted and held in a credit card reader to complete a transaction.

Today, October 1st, marks the deadline for all business owners to become EMV compliant with readers that support this new software.  Please feel free to call Sunlit Merchant Services to verify whether your equipment is up to date and in compliance with these EMV standards and also find out about how we can reduce your current merchant processing rates.

To read more click here.

MasterCard Express enters the digital wallet group

As of September 8, 2015 MasterCard Worldwide introduced a new program to consumers and business owners named MasterCard Express. This particular program is digital wallet based and will allow ease in how it is used in performing transactions between card users, accounts, and financial institutions. What gives the MasterCard Express more of a benefit is this item can be used through a mobile device. It might sound too good to be true as but in actuality it is the technology and security used when MasterCard Express credit card has been designed that gives the consumer the ability to use a credit card in this way.

The MasterCard Express credit card user can securely use this method if they wish by simply taking the Express credit card and doing one of two things to make a payment transaction. The consumer would either 1) wave the MasterCard Express credit card or 2) securely tap the MasterCard Express credit card over their mobile device and the authorized payment would then be completed. How these types of mobile payments are securely done are through the programming method of using tokens.  Because mobile devices are being used more often there has been a growing trend of digital wallet technology when making payments. With that being said there are more credit card companies becoming popular because they are turning to the use of providing a digital wallet and providing the consumer with this ability. Credit card capability on the market at this time is Android Pay and Samsung Pay but it is just the beginning of secure digital payment growth as this trending area will become larger over time.

Any questions about credit card processing contact Sunlit Merchant Services they can help!

Best Payment Processing for Merchant Services
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Best Payment Processing for Merchant Services

When we are shopping online our biggest concern is, is it safe? On some websites online shopping means that you have to pay in advance and this requires credit card processing. This is when the customer questions the safety of the website, whether their payment process is protected by the proper authorities or not. Here […]

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Above and beyond our terrific pricing all of our clients know we are always a phone call or email away to help them with anything. Having confidence in your merchant processor can be a game changer.

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Above and beyond our terrific pricing all of our clients know we are always a phone call or email away to help them with anything. Having confidence in your merchant processor can be a game changer.

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