Archive for the ‘Payment Processing’ Category

Why Are You PCI Compliant

Tuesday, July 26th, 2011

Posted By: Michael Nardini, VP of Customer SatisfactionMichael Nardini, VP of Client Satisfaction

Protecting your customer’s credit card and other personal information is critical to all eCommerce merchants. All eCommerce merchants must be PCI compliant in accordance with the Payment Card Industry Data Security Standard (PCI DSS) and non-compliance can result in fines for banks and merchants. With  however a recent survey from CyberSource found that 70% of the eCommerce merchants surveyed cited ”the need to ‘protect the brand’ as the primary driver for tightening controls against hackers and other payment security risks.”  This is not a surprising find considering another report found that the average first time data security breach can cost an average $326 per compromised record, and costs are increasing each year.  Considering the strict fines that are put in place, only 26% of survey responders said avoiding fines resulting from non-compliance with the Payment Card Industry Data Security Standard (PCI DSS) were the key motivator.

Source: Javelin Strategy and Research; June 2008; http://www.tawpi.org/uploadDocs/Data_Breach_survey.pdf

Some Interesting Survey findings include(source: CyberSource)

–Data moving out: Over the next 24 months, an increasing proportion of organizations expect to remove payment data from their environment as a way of reducing security risks.

–Efficiency improving: Organizations that do not capture, transmit, or store data inside their own network tend to employ fewer personnel, validate PCI DSS compliance more quickly, and operate at a lower overall cost of payment security management.

–“Data out” merchants spend less on infrastructure: 75 percent of PCI DSS Level 1 merchants that have removed payment data from their environments spend less than $500,000 on their payment security infrastructure. Only 60 percent of those that keep data in-house can make that claim.

–Risk not confined to outsiders: In one counter-intuitive finding, respondents said they felt the threat of payment data theft from inside employees was about equal to the threat from external hackers.

To get your own copy of the survey, click here.

To learn more about Dydacomp’s PCI Compliance, click here.

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Value of an Integrated Ecommerce Solution

Wednesday, February 23rd, 2011

Posted by:  Joesph Fantozzi, Dydacomp eCommerce Solution Specialist

Online shopping cart packages are a good way to get your eCommerce business off the ground, but if you wish to expand your business and sales you should consider investing in a complete eCommerce solution, such as Dydacomp’s SiteLINK.

Why?

  • A standalone shopping cart usually offers a simple solution to kick start your business in the eCommerce industry, but a growing business requires more advanced features that are not offered by most online shopping carts. Features that are a must: include customizable design layouts, easy site management, and back-end integration. These features are necessary as you improve your website to become a more competitive player in your niche.
  • Looking ahead for eCommerce growth will help you anticipate the needs of your business and allow you to plan accordingly. You need a solution that will offer you room for growth and that can help you grow, not a solution you can quickly outgrow. Without a complete eCommerce solution, your business will quickly outgrow the online shopping cart platforms and may require time and money to reinvest in another solution. According to the Top 100 for 2011(a Whitepaper from Networld Alliance and Retailer Customer Experience.com), multichannel integration is number 2 on the list of top trends for 2011, up from number 54 in 2009. Multichannel behavior provides retailers the opportunities to increase revenue according to the study “Today’s customers, empowered by easy access to information, are increasingly ‘channel agnostic,’ leveraging multiple channels for each buying cycle — whether they know it or not.” SiteLINK’s integration with M.O.M. is able to provide you a complete ecommerce solution that is suitable for a small business, and will be a valuable investment as your business expands.
  • Back-end integration for your eCommerce site allows you to streamline the communications between your ecommerce cart and the other systems required to fulfill online orders.  Without this integration, your employees will have to take the time  to manually transfer orders entered on your ecommerce store into your inventory management system, then into your accounting system, and again in your shipping system. Implementing an integrated ecommerce solution avoids tedious manual work for each order, as well as issues caused by mistakes made while transferring information.

The reality is that a complete eCommerce solution is the best option for an expanding business. Choosing an ecommerce solution with back-end integration allows for all of your systems to communicate and share information to make your business paradigm more efficient.  Dydacomp’s SiteLINK  Solution is offers clients the top ecommerce shopping cart  features, as well as seamless integration into M.O.M. to streamline your ecommerce business.

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Important Changes to Discover Card Merchant Accounts

Thursday, June 10th, 2010

Posted by Michael Nardini, Vice President of Customer Satisfaction
Michael Nardini, Dydacomp VP of Customer Satisfaction

For those of you who accept Discover, you should have noticed a change on June 1, 2010.  For most of you if your merchant bank has made the change, Discover is now being deposited into your checking account combined with Visa and MasterCard.  It used to be a separate entry but now they have joined the main brands to offer you some additional benefits.

Besides bundling the deposit together making reconciliation easier, you should now have a few more benefits:

1 – One customer service phone number.   Your Visa/MasterCard processor should be able to handle all customer service inquiries for you.

2 – One voice approval hotline so that you don’t have to remember different voice approval phone numbers.

3 – One statement.  Discover should be itemized like Visa and MasterCard have been.

4 – Same time-frame for funding as you had with Visa and MasterCard.

5 – In some cases lower % fees for processing Discover the same as you pay for Visa and MasterCard.

There shouldn’t have been anything you would have had to do to change.  Your merchant provider should have helped you through with this change.  I mention above in terms like “should have” or “should be handling” just to remind you that your merchant bank should have made this an easy change for you and that they should have passed the benefits down to you.  If you’re not seeing any of the benefits above you should reach out to me to find out how our Payment Processing team can help you get set up with another provider.

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Get a Competitive Advantage with Gift Cards

Friday, May 28th, 2010

Posted by Michael Chichester, Dydacomp Payment Processing Team Leader

Michael Chichester, Dydacomp Payment ProcessingI was talking with the owner of a very successful sporting goods company the other day.  This company has been using Mail Order Manager for over 15 years – they are running M.O.M. Version 7i with 34 workstations, use SiteLINK for e commerce, and still produce a yearly catalog.  But success wasn’t always the case for this company – they had some lean times.  In fact, this guy was telling me they once went an entire month without an order.  Not 1 order.  So, I asked him how did he turn it around?  I was very curious how they went from a 1 person operation running part-time out of Mom and Dad’s basement to where they are now – a $2 million dollar a  year company with over 40 full time employees.

“It’s all about finding a competitive advantage.”

Those words struck me.  So simple, yet so profound.  So how do you find a competitive advantage in today’s marketplace? How about having your company’s own unique logo in a customer’s pocketbook or wallet?  Even better, how about having your company’s logo in a POTENTIAL NEW CUSTOMER’s pocketbook or wallet?

Welcome to the wonderful world of gift cards.

In M.O.M. 7, we now have the ability to allow you to sell gift cards.  And you can customize your cards!  Did you know:

  • 65% of those given a gift card last season say they typically spend more than the value of the card? (Source: Consumer Reports Holiday Shopping Poll, October 2009)
  • In the 2008 holiday season, gift card sales added up to $25 billion (Source:  ValuTech)
  • Over 50% of all shoppers purchase gift cards (Source: commercegeneration.com)

Here’s a link to a webinar we recently completed on the upcoming Gift Card release.

So, if you are looking for that next big competitive advantage, look no further than gift cards.

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Time to Appreciate your MOM (System, That Is)

Tuesday, May 11th, 2010

Posted by Michael Chichester, Dydacomp Payment Processing Team Leader

Michael Chichester, Dydacomp Payment ProcessingThis past Sunday was Mother’s Day.  I’d like to extend a belated Happy Mother’s Day to all the mothers out there.  As we all take time out to appreciate our mothers, I was thinking what a great time to take a deep breath and appreciate your M.O.M. system.  All of us here at Dydacomp feel we have a superior product and work hard to provide a great customer experience.  Here in the Payment Processing Department, we are excited about the opportunity to save you money on credit card processing.  I love my job because I get to save our customers money every day.  It’s an awesome feeling and I highly recommend you try it sometime.

Last week I was speaking with the owner of an automotive shop who processes about $150,000 per month in credit cards.  They have 6 workstations and process via phone and internet. This customer was convinced that we could not help them save money because they already had “rock bottom prices” for credit card processing.  It took some convincing, but the merchant finally agreed to send me 3 months worth of credit card statements so I could do a full cost analysis for them.  In doing the analysis, I discovered several areas where switching to our Bundled Services Package could save them money.  I spoke with our First Data Rep and was able to negotiate a sweetheart deal for this customer, which included a FREE First Data Global Gateway.  Including the elimination of the gateway costs, we were able to save them $185 per month right off the bottom line! 

It was with great pleasure that I was able to call the owner back and present them with the savings.  This individual could not believe that we found them any savings, much less $185 per month.  With the extra money in the budget, they plan to purchase the Address Correction and Validation Module (ACVM) and upgrade to a higher tier of Mail Order Manager Support.  This, in turn, will save them even more time and money.

So, take a minute to appreciate your M.O.M. system.  We are all working hard to help make your business as successful as possible.

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Saving with the Dydacomp Bundled Gateway

Wednesday, May 5th, 2010

Posted by Soha Boustani, Dydacomp Payment Processing Specialist

Soha Boustani, Dydacomp Payment Processing SpecialistA Dydacomp client in called in recently with a question about payment gateways that integrate with Mail Order Manager.  He is in the gift industry and processes a large volume of credit cards with an average ticket of $50 and over 90,000 transactions per year.

I explained all their options and they were interested in the First Data Global Gateway and Merchant Services Bundle Package especially because we can negotiate better rates and, in some cases, be able to secure a free global gateway on their behalf.  In addition, the First Data Global Gateway and Merchant Services Bundle Package integrate perfectly with M.O.M. 7, our PCI compliant version of M.O.M.

The client then addressed another concern, asking “What if we sell cigars and alcohol or adult material? Would we still be approved?” I let him know that with our First Data Global Gateway and Merchant Services Bundle Package we can approve all merchants as long they provide certain financial documents and meet website requirements such as including disclosure of privacy and return policies.  One of the reasons we recommend that our clients use SiteLINK as their ecommerce platform is that the SiteLINK team is very familiar with these requirements and will make sure that the client site meets them.

Needless to say, that my client ended up sending me 3 recent merchant statements to analyze and in return I negotiated lower rates through First Data on their behalf as well as a Free Global Gateway.  The client’s Gateway savings alone were over $9000.  The client is very pleased with not only the savings but the level of service they are receiving.

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Common Myths about PCI Compliance

Monday, April 26th, 2010

Michael Chichester, Dydacomp Payment Processing

Posted by Michael Chichester, Payment Processing Team Leader

I was speaking with a Dydacomp client who is the owner of an automotive supply parts company this week about PCI compliance.  He was informing me that he did not think that PCI compliance applied to them because they are a “very small company” and “do not process credit cards on the internet.”  They have 2 Mail Order Manager workstations and average 70 credit card transactions per month.  Their average ticket is $100, so their average sales per month are $7,000.  All orders are taken over the phone.  It took some convincing, but he finally came around to realizing that PCI compliance does, in fact, apply to his business every bit as much as it applies to a giant like Walmart. 

Unfortunately, I have had many conversations just like this one over the years.  The simple fact of the matter is that even if a company only processes 1 credit card transaction per year, the PCI compliance regulations apply.  Please remember, if you are not using M.O.M. 7, you ARE NOT PCI COMPLIANT!  As John Healy wrote last week, the 7/1/10 deadline is fast approaching, so if you have not upgraded to M.O.M. 7 yet, you are quickly running out of time. 

The PCI Security Standards Council has provided a great Top Ten Myths of PCI Compliance list that I think everyone should check out here: https://www.pcisecuritystandards.org/pdfs/pciscc_ten_common_myths.pdf.

This list should clear up a lot of the misconceptions that you had before you started reading this blog entry.  I’ve been preaching for years that PCI Compliance is mainly common sense.  It is really not that hard to become compliant, and we, along with Coalfire, will help you get through the process.

If anyone has any questions or concerns regarding M.O.M. and PCI Compliance, feel free to give me a call at 1-800-858-3666, x 326 or email me at Michael.c@dydacomp.com.

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Saving Money with the Dydacomp Bundled Package

Monday, April 5th, 2010

Michael Chichester, Dydacomp Payment Processing

Posted by Michael Chichester, Payment Processing Team Leader

Recently I have been working with a large sporting equipment supply company to help them save money on their credit card processing and become PCI Compliant. This merchant has 12 different companies (or DBAs) running in M.O.M. on 65 workstations. They sell multi-channel – Mail Order, Phone Order, Internet Order through SiteLINK eCommerce, as well as Retail Card Swipes through the Point Of Purchase module.

The owner wanted to find a way to significantly reduce the fees they are paying each month for credit card processing. The owner also wanted to ensure that the solution supported their efforts to become PCI Compliant by the July 2010 deadline. Starting in July, all merchant banks must ensure that their customers are PCI Compliant, especially their new ones (hey, that sounds like a great topic for my next blog!). Anyway, this company did their due diligence, securing several quotes from local merchant service providers before calling me to discuss the issue. Since we get our bundled packages through First Data Corporation, which is one of the leaders in the PCI Compliance movement, I immediately thought they would be a good fit. I informed them of our bundled package option which is compatible with MOM 6.2 (and higher).

I asked that they send me the last 3 months of merchant account statements as well as the quotes they received from the various merchant service providers in an attempt to get them an even better offer from First Data. I performed a full cost analysis and side-by-side comparison of the offers. Then I called our rep at First Data to see what they can offer this merchant in an attempt to help them reduce their costs and support their PCI Compliance efforts. They offered a greatly reduced Gateway fee for all 12 of their companies on top of offering the best price for the merchant accounts. Needless to say, it was the highlight of my week to be able to help this customer save over $1000 per month right off their bottom line.

The end result is that this company is now paying significantly lower fees for their 12 merchant accounts as well as paying virtually nothing for the 12 Gateways. In addition, they are now with a merchant service provider who is a leader in the PCI Compliance movement. The cash saved on Credit Card Processing fees will come in handy when budgeting for future projects, hiring a few extra employees, or to upgrade equipment in the office. For anyone out there looking to put cash back in their pocket, I strongly recommend exploring the Dydacomp Bundled Package.

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Latest Payment Processing Offerings

Wednesday, December 7th, 2005

New Payment offerings can help GROW your business. The adaptation of an internet based gateway processing system through M.O.M. can help streamline the way in which you charge credit cards. This saves you the time and aggravation of dealing with a third party software outside of the M.O.M. program and with worrying about a card declining in a batch after the customer hangs up or after they place their order online.

Along with this automated gateway processing system designed for credit cards, you can now add the new E-Check system or Electronic Check system. This system is being adopted by many M.O.M. clients and offers a new method of payment to your client who may not have a credit card. Entering the check information into M.O.M. will help expedite the order fulfillment process. The old way of processing a check takes too long. Your customer mails you a check, you bringing it to the bank for deposit, and you wait for it to clear. Instead, with the gateway model, you can enter the check information into M.O.M. which allows the check to start clearing the day you take the order. This means from date of taking an order instead of waiting what could take 2 weeks under the old manual way to process a check, you could know within 3-4 days if the check has cleared. This allows you to ship the product quickly knowing you’ve collected the funds. This eliminates NSF(not sufficient funds) and the need for COD’s.

For more technical information on how to adopt this gateway model or to add the E-Check feature to your current system, please give me a call at 800-858-3666 x235 today to find out more.

Thank you

Michael C. Nardini

Director of Payment Processing Services
Dydacomp
(800) 858 – 3666 x235
authorize@dydacomp.com
www.dydacomp.com