The Pros And Cons Of The Square IPhone App

June 10, 2012 · Posted in Merchants · Comment 

Despite worries regarding the security of financial details that the Square iPhone app uses, it is becoming increasingly popular. This is because it is a simple and incredibly useful invention that utilizes the iPhone which is growing in popularity. With the advances in technology that are occurring everyday this app is likely to be used by many more people across the world.

One of the possible issues that causes the most concern for users is the risk that the app poses in relation to security and fraud. As it is so quick and easy to use this means that if it were stolen it could easily be used by the thief. However, as these risks are relatively low it has not affected the popularity of the equipment.

For people that have busy lives and a limited time in which to buy their breakfast or lunch this app is very helpful and saves time. It should result in shorter queues and less time spent waiting for payments to process. This may only cut a few minutes time off, but it also results in lower stress levels that are caused by repetitive queuing.

Unfortunately as things become easier for people to make payments they also become easier for theft and fraud. While there are security measures in place it is also relatively easy for this app to be manipulated and used to steal funds. However, the possible damage is limited as only small payments can be made using the app.

Although both this app and the iPhone are becoming more popular, not everyone owns one and this is reflected by the fact that not all cafes and restaurants own the equipment to receive this type of payment. As the smart phone becomes a necessity in every home it is likely to become a standard payment form across the world. However this progress is yet to come.

As this type of app has become so popular there are different version that are also being made. The different types of smart phone are not always compatible with apps for the iPhone. Because of this there needs to be either one that is compatible with all smart phones, or equipment in shops that is compatible with all apps.

While the Square iPhone app is becoming increasingly popular it does come with some risks. Many people are not concerned about the risks as they have insurance against fraud and this is advisable whether the app is used or not. Overall the app is suitable for old and young alike and should be more available in the near future.

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Chip And Pin Credit Cards Assist In Fraud Protection

May 24, 2012 · Posted in Merchants · Comment 

Many are the times when users of credit card complain of fraud of different mannerisms. Due to the increasing demand for curbing this condition, most countries are now turning to the use of chip and pin credit cards. These cards are different from the initial types in that they do not use the normal magnetic strip commonly plastered across the back of the card. In contrast, the information on it is stored in a microchip hidden within it.

The other unique feature found on these cards is that the user has a unique PIN number that he or she alone can recognize. This therefore means that whenever a thief stills it from them, the card is rendered useless unless they know the number. They have helped cut down on theft in many countries, including Britain. Most retailers in the United States also recognize its use. The Canada is yet to accept its working mannerisms, hopefully by the year 2015.

The use of this type of cards has greatly reduced theft in many countries. Even if a thief steals the card, there is nothing much to do with it, as they do not know the secret PIN. It is highly advisable that a person does not share the number with any other person. Retailers and other merchandisers are advised to embrace this technology, as t is beneficial to them and their clients.

These cards are very fast when carrying out transactions. Unlike the previous versions where a person was required to give the service provider or sales person the card for billing, these types only require the owner to swipe it, enter their secret number and within minutes, everything is done. This is more convenient and time saving as well as safe.

Most places that accept the use of credit cards countrywide have invested in this machine. Such places include petrol stations, most companies, shops and retailers worldwide. Both customers and their merchandisers benefit from such transactions. They safeguard the customers against fraud while at the same time protecting the retailers against loss of cash.

The popular use of this card types has increased from static businesses to other businesses on the go. This has acted as a means of reaching out to targeted clients the world over because of the reliable payment mode. Consequently, more people both merchandisers and buyers attend trade shows and such like events to promote sales and boost profits.

It is wise to carry chip and pin credit cards while travelling. They provide an alternative means of purchasing goods and paying for services. As such, when an emergency occurs, this is the best partner to have.

Learn more about how you can increase your productivity with effective chip and pin machines today! You can get the information you will need to choose the machines that will meet your needs when you visit http://SwipeCardMachines.com/Category/Chip-And-Pin-Machines/ now.

How To Use A Credit Card Machine

November 5, 2011 · Posted in Merchants · Comment 

How to use a credit card machine? Using a bank card unit is not difficult as most plastic card equipments are intuitive with straightforward abilities. For company owners who’ve just commenced a new business enterprise or have recently chosen to setup merchant services at their Point of sale, these techniques come in useful to understand how to use a credit card machine.

Step 1: Swipe Card or Enter Card Number — When your purchaser hands over his/ her plastic card to you at your Point of sale for payment, you would need to swipe it through the plastic reader. The card should be swiped in the direction as shown by a modest icon or picture on the machine, which shows which way the magnetic strip on the back of the credit card should be facing. If the debit card device has no such guidelines on how to swipe the card, we advise that you try running the card through the reader with the magnetic strip facing the machine first, since that is the most typical direction. This is typically called a swiped transaction, which is the most trustworthy kind of transaction as the card is physically present. If the card is not physically present, as an example, if it’s a telephone order, you might need to select the key marked ‘sale’ or the ’1′ key for many units. You would then have to follow the on-screen prompts to enter the card number and expiration date. We advise that you typically double-check the numbers before pushing enter.

Step 2: Enter Sale Information — Once the card is swiped or the card number is entered, you’ll have to enter the sale information manually into the credit card unit. Typically, the machine will first ask for the sales quantity in dollars and cents. You would need to input the amount while using number keypad, being sure that the amount appears perfectly on the screen. When you unintentionally key in the wrong amount, pick ‘clear’ or ‘delete’ and initiate over. In some cases, the terminal will prompt you for more information (such as the consumer’s local zip code or an purchase number) once you have typed in the sale amount. Stick to the prompts to enter the data and then key enter.

Step 3: Authorization — Depending on the terminal’s connection, the sale may process within a few moments to a few minutes. If the processing of the sale doesn’t appear to be going through, do not re-enter the sale. You’ll have to call the processing company instead for further guidelines. The number of the processing company ordinarily appears on a label on the machine. The Authorization step actually involves the credit card info being encrypted and transferred in a secure environment using Secure Socket Layer (SSL) technology to MasterCard/Visa/Amex/Discover, which subsequently is then sent to the Issuing Bank, that in turn figures out if the transaction needs to be accepted or rejected with respect to the card holder’s borrowing limit and returns the response to the credit card equipment. The entire process takes less than 10 seconds.

Step 4: Processing — Once the sale is authorized, you’ll have to process the sales receipt. If the client is present physically, he/ she would have to sign the charge card receipt. You would need to ensure that you give a copy of the receipt to your buyer and preserve the original for your records. It is important to get the customer’s signature on the receipt as it is a evidence of the sale and can prove useful in the event that there is a chargeback wherein the card owner disputes the sale. In case of a chargeback, you should retrieve your copy of the receipt, without which usually you would have to face a retrieval fee from Visa/ MasterCard/ AmEx/ Discover. If the purchaser is not physically present, you would need to write ‘phone-in’ or another best suited phrase on the sign line of the receipt. Maintain one sales receipt for your filing and include the other in the shipping and delivery of the goods to the purchaser.

Step 5: Batch Out/ Settlement — Batching out or a settlement is to make certain you get your funds for the sale you have made. Your bank card device and processor has saved all of the transactions that you’ve processes since the previous settlement. These transactions are called a batch and to settle/ close the batch, you would need to run a ‘batch report’, which is closing a batch of plastic card receipts each day. This is the process that tells the processor to finalize the charge card charges and deposit the balance to your merchant account. Many systems will have a push button called ‘batch’ that you simply need to touch this key and then follow the prompts to close the batch at the end of the day.

Which credit card machine to use? Now that you’ve made a decision to create merchant services to address the processing needs of your enterprise, you will have queries about how to use a credit card machine. If you are an business person or a start up business owner, you may be confused with the several brands of credit card machines available. What you want to fully understand is that most credit card come as simple to use user-friendly packages and therefore there’s no need to be intimidated by.

Most plastic card processors nowadays give you a wide array of charge card equipments or terminal products including stand-alone terminals, compact terminals with integrated printers and/or internal personal identification devices (PinPads) and wireless terminals. Some of the popular machines are as below. All in One Terminals: Verifone VX 570, Verifone VX 510, Verifone VX 510LE Hypercom T7P, Hypercom T4220, Hypercom T4205 Wireless Terminals: Verifone VX 610, Nurit 8020, RoamPay Pin Pads: Hypercom P1300, Verifone 1000s Check Reader: MicrImager, Mini Micr, Mini USB. It is essential that your plastic card processor assesses your business and processing demands and then recommends the kind of plastic card device that works the best for you.

Learn How To Use A Credit Card Machine. Interchange Minus reviews several merchant services providers in your city and recommends the best processor that would suggest the best type of credit card machine that will suit your processing needs and guide you through steps on how How To Use A Credit Card Machine.