Webinar

Payment Processing 101

sponsored by

February 24, 2010

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Hosts

Dan HatcherExecutive Vice President

Brian BickelVice President of Sales

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$1662

We find savings for 70% of NFIB membersAverage annual savings - $1,662

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Payment Processing 101

Payment Processing 101

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10 Questions

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Source:http://www.solveras.com/nfib/docs/webinar-10-questions.pdf

Payment Processing

Payment Processing (noun):

A non-cash transaction.

Downgrades

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Visa, MC

, Am

ex, Discover

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Cards

Credit Card vs. Debit Card

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Wall Street Journal

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Visa

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Nielson

59%

41%

Debit CardsCredit Cards

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Pin Debit

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Bank Cards

Consumer CardsCommercial CardsInternational Cards

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Interchange

Interchange (noun):

Wholesale costs established by Visa, MasterCard and Discover for processingof all card types and transactions.

Downgrades

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One Size?

“One size does not fit all”

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Rates

“Know your rates”

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Card vs. A

MEX

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Transaction Types

The Four Buckets:

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Bucket 1

Swiped Check Card

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Bucket 2

Qualified

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Rewards C

ards

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Bucket 3

Mid-Qualified

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Bucket 4

Non-Qualified

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Downgrades

Downgrades

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Merchant Statem

ents

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Chargeback

Chargeback (noun):

A card holder has up to 180 days from the statement date to dispute what you charge them.

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Merchant Processor

Merchant Processor (noun):

Handle the transmission of payment data that is necessary to authorize and settle credit card transactions.

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Front End Processor

Merchant Processor (noun):

Handle the transmission of payment data that is necessary to authorize and settle credit card transactions.

Front End Processors

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Back End Processor

Merchant Processor (noun):

Handle the transmission of payment data that is necessary to authorize and settle credit card transactions.

Back End Processors

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Payment Processor

Payment Processor (noun):

Company appointed by the merchant to handle credit and debit card transactions

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Annual C

heckup

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HOW TO GET THE BEST RATE FOR YOUR PAYMENT PROCESSING

1. Don’t be fooled by a low rate.

2. Read your merchant statements.

3. Watch out for lengthy contracts with early termination fees.

4. Get your annual rate review

5. Know the “Ten Questions to Ask Your Processor”

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Download these slides at www.nfib.com/paymentslides

Virtual Terminal

Virtual Terminal (noun):

A Web gateway that permits you to process all of your payments – cards, ACH, recurring payments – through your computer.

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AC

H Payments

Automated Clearing House (noun):

ACH, also known as “eCheck” is an inexpensive alternative to credit card payments. Transactions are direct debits to a customer’s bank account.

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Recurring Payments

Recurring Payments (noun):

The ability to charge your customer by credit card or ACH by automatic billing.

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Recurring Payments

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Recurring Payments

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Routing and Account #

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Remote Deposit C

apture

Remote Deposit Capture (noun):

Never go to the bank again. Scan paper checks into a bank account.

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Check 21 A

ct

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Other C

heck Services

Verification Guarantee Conversion

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Check Verification

Check Verification (noun):

Verifies if the check writer has previous outstanding unpaid bad checks.

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Check G

uarantee

Check Guarantee (noun):

Your check insurance policy - makes sure you get paid for a returned check.

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Check C

onversion

Check Conversion (noun):

Converts the check into an ACH payment (eCheck) canceling the paper check.

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Check G

uarantee

HOW TO GET THE BEST PRICE FOR CHECK GUARANTEE

1. Look for monthly minimums and statement fees

2. Look for a provider that has a liberal check acceptance policy

3. Be clear about what checks are not covered

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Check Verification

WHAT SHOULD YOU LOOK FOR IN CHECK VERFICATION?

1. Use a provider that uses the largest national database possible and make sure the database has a large amount of merchants in your area.

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Payment Processing 101

Payment Processing 101

Download these slides at www.nfib.com/paymentslides

Q&A1-800-619-5301

Dan.Hatcher@Solveras.comBrian@Solveras.com

http://www.solveras.com/nfib/docs/webinar-10-questions.pdf

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More Info

For more information about the Small Business Webinar Series

hosted by NFIB visit www.NFIB.com/webinars

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