In late 2017 and early 2018, the card brands revealed a major change to their long-held signature requirements for credit card transactions. MasterCard, Discover and Amex announced they would no longer require signatures for magstripe and EMV transactions beginning in April 2018. Visa announced that signatures would still be required in the event of a chargeback dispute for magstripe transactions, but would be optional for EMV. There are a few motivations for this protocol change. The card brands want to reduce payment friction and hope that eliminating a step in the payment process will entice merchants to upgrade to EMV-ready…
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Despite it being an overarching goal for nearly every practice manager, running the best veterinary practice is easier said than done. That’s because there’s multiple aspects to it, including maintaining efficiency, providing staff with the right tools to be successful, and ensuring patients and clients have a positive experience every time they visit. What if meeting your goal was within arms reach? Here are eight ways a payment system upgrade can help you run your front office more efficiently and get you that much closer to your goal. Paperless Transactions Hate having to manage and file paper receipt…
If you work for an auto dealership, you may, unfortunately, be familiar with the following scenario: A customer calls your dealership to book a service. You don’t have one of the necessary parts on hand, so your dealership orders it and plans to bill the customer when the service is completed. However, the customer ultimately ends up going elsewhere for the service, leaving the dealership to cover the cost of the ordered part. Capturing buyer intent is a goal for any auto dealership. It ensures that the orders you place and conversations you have really go somewhere. It helps…
Any time you obtain a financial product, be it a bank account or a loan, you have to provide some personal information. This process protects the lender from fraud and ensures that the relationship is transparent. With the goal of preventing money laundering, the United States Treasury Financial Crimes Enforcement Network updated its customer due diligence requirements for financial institutions. This change affects businesses that seek financial accounts of any kind — including merchant accounts. New FinCEN Requirements for Spring 2018 Starting on May 11, 2018, the new FinCEN regulations go into effect requiring any and all new financial account applications…
When the integrity of transaction data is in question, prioritizing swift checkout and customer experience can be a challenge for veterinary receptionists. While it’s not uncommon for veterinary practices to take phone orders, it is likely most receptionists have worried about fraudulent or incorrect charges. With outdated credit card processing terminals and subpar Payment Gateway features, veterinary receptionists have good reason to stress over these types of transactions. The antiquated technology behind these devices and softwares won’t promote secure over the phone payment practices. However, with a refined Virtual Terminal, you can accept over the phone payments in…