Are you using a physical credit card terminal? As we fall back into Eastern Standard Time, it is important to check your credit card terminal to make sure the time is correct as some terminals need to be updated manually.
Note: This applies to terminals only. Software and gateways adjust automatically.
For Verifone VX Terminals:
Press the green button – setup – Password is 1 alpha alpha 66831and click enter – Click The left purple button for more options 4 times – Click date and time and enter the correct date: mm/dd/yyyy and time: military time with 00 for seconds
For PAX Terminals (all models) Menu then 5 and press “enter” – enter today’s date MMDDYYYY > type in time in military time (HHMMSS) – “enter” – press “menu” to go back to main screen
Feel free to contact us if you need any help updating the time on your terminal
In the coming weeks we will discuss various simple solutions that you can implement into your workflow to streamline processing, eliminate extra steps, and avoid potential errors.
For our first example: Using QuickBooks and Processing Credit Cards.
QuickBooks is the number one accounting software used by many businesses around the world. For those of you who are using QuickBooks and processing credit card transactions using a stand alone credit card machine or even an online virtual-terminal – this is what a typical transaction would look like:
Step 1) Bookkeeper opens the QuickBooks program and creates an invoice.
Step 2) Bookkeeper will then either walk over to the credit card machine, or open a webpage, navigate to the online virtual terminal, and process the credit card payment.
Step 3) Bookkeeper goes back to QuickBooks and marks the invoice paid.
Not that many steps. But…
What if Bookkeeper took an urgent call between Steps 2 and 3 and never actually completed Step 3 – leaving your customer with an open balance in QuickBooks when in fact your customer is all paid up!
What if Bookkeeper mixed up the amount owed between steps 1 and 2 and charged the credit card for the wrong amount?
You get the point.
With Banquest Payment Systems you can process your credit card transactions – INTEGRATED – right inside of the QuickBooks program. Our technicians remotely install a QB Plugin right onto your computer, give your staff a short training, and you can process credit card transactions without ever exiting the QuickBooks program.
Step 1) Bookkeeper opens the QuickBooks program and creates an invoice.
Step 2) Bookkeeper marks invoice paid while automatically processing the payment right inside of QuickBooks.
Streamlined. Save time. Eliminate Steps. Avoid Errors. For more information feel free to call/email us at 732-323-8300 or Support@Banquest.com.
Here at Banquest Payment Systems we often get calls from our merchants asking us why a credit card transaction was declined? They claim to have entered all the information correctly and yet it was still declined. Why???
Well, most of the time the issue tends to be on the customer side rather than the merchant side.
One of the most straightforward reasons for a credit card transaction being declined is because the cardholder reached their credit limit that was set by their credit card issuer. The issuing bank simply won’t let them borrow any more money until they’ve made a payment. There are many types of limits; daily, monthly, per transaction, etc… and it may be that a customer has reached one of their preset limits.
Another reason may be due to today’s credit card companies advanced fraud detection tools. If a purchase is being made outside of the customers usual geographical area, the credit card issuer may decline the transaction due to fraud concerns. They may also decline transactions that are significantly larger than usual or out of habit for a particular shopper.
All of the above declines are “Issuer Declines” for which as a merchant – there is not much you can do. The cardholder would need to either make a payment (in the case of reaching credit limit) or contact their credit card issuer (in the case of a fraud alert).
There are however credit card declines that can be due to the settings put in place by the specific merchants business. Some merchants will set rules to decline orders with billing addresses or security codes that do not match the correct information on file. Such declines are really not a credit decline (the card may actually be approved and authorized for the amount requested) it’s the merchant who is choosing not to capture and go through with the transaction.
We are always available to help you determine the reason for a decline. Feel free to reach out anytime to support@banquest.com or 855-323-8300.
Happy Tuesday & Happy Selling!
Kevin
P.S. Our very own President’s credit card was declined when dining out in NYC! Click HERE for the story.
Recently we discussed the purpose of the credit card CVV (security code).
This week we will discuss the purpose of AVS when processing a credit card transaction. The Address Verification System (AVS) is a system used to combat fraudulent activity by verifying the address of a person claiming to own a credit card. The system will check the billing address of the credit card provided by the user with the address on file at the credit card company.
Should I ask my clients for their credit card billing address? The whole address – or just the zip code? What about foreign cards with a strange zip code?
AVS verifies the numeric portions of a cardholder’s billing address. For example, if the address is 101 Main Street, Highland, CA 92346, AVS will check 101 and 92346.
If you are swiping credit cards then there is no need to verify the card billing address.
If you are processing credit cards in a non-face-to-face manner (phone, mail, or online) it is important to obtain and enter the card billing address for two reasons:
1. Preventing Fraud. Criminals using a stolen credit card will give their own address, that of an accomplice or a drop location — any address but that of the actual cardholder, if they even know it — to get their hands on the stolen goods. AVS is a proven deterrent to credit card fraud. If your terminal or gateway returns an “AVS Mismatch” result – take caution before proceeding with this transaction.
2. Processing Fees. A large majority of credit cards (i.e. most Visa cards) require AVS to be processed in order to qualify the transaction for the best processing rate. While there is usually a minimal fee for every AVS, the processing fee savings obtained almost always far outweigh the cost.
Note: To reduce processing costs all that’s necessary is to enter the card zip code. However for fraud prevention you will want to enter the street number and zip.
When it comes to foreign credit cards with a non-standard numeric zip code, it is important to note that not all foreign issuing banks participate in AVS. While most Canadian and some UK banks do participate, many others do not. To enter a foreign zip code you must select the correct “Country” for the system to accept the foreign zip code.
The threat of credit card fraud is very real. Be proactive and take the steps to reduce your exposure. Additionally, at Banquest we are always available to assist our merchants with setting up proper security procedures which is the first and best way to keep your credit card processing secure.
