Y2Payments Secure Payment Solution Processes Six Unique Payment Channels

Y2Payments Conduit Payment Processing payment channels

There are numerous issues for companies with today’s payment processing options. From excessive fees to slow processing time, it’s tough for many businesses to keep up with card payments, and that can mean real budget difficulties. Y2Payment Systems, though, is offering a better solution – Conduit 3.0.

Conduit 3.0 simplifies the entire transactional life cycle. With the ability to run transactions multiple payment channels and turn them into one concise report, businesses get the help they need to make credit, debit and ACH/EFT payment processing virtually seamless.

“The real benefit here is that Conduit translates practice management systems output file data into the format of the gateway provider, executes absolutely all of the transactions, and coverts it back to the native file format in just a few seconds. It takes other systems hours to do the same, and that’s lost time you could be using elsewhere,” said Ron Viemont, Exec Chair of Y2Payment Systems.

With real time payment processing, the speed involved here is the major selling point, but there are a number of other advantages to this system as well. You can either process bulk/batch transactions or one-at-a-time transactions in both HTTPS format and FTP submission format. There’s built in support for the software used across industry lines, and it interfaces with absolutely any credit card processor. The reporting features in this are amazing as well. Available reports are extensive, customizable, easy to download, and they include robust research tools to help companies do more.

Here’s a payment industry first—Conduit 3.0 now captures and reverses credit card chargebacks before they are debited from the merchants bank account. The system effectively becomes a revenue enhancement to our clients—and it’s an exclusive feature of Y2Payments.

As expected, it is 100% secure and PCI DSS compliant, helping to protect businesses from fraud and the hefty fines that come with noncompliance. Moreover, there’s no IT implementation expense, and companies don’t have to change their current job functions. With a minimized learning curve thanks to the intuitive interface, this is easily the best way to change the way you process transactions and simplify your life now.

Y2Payments is working to ensure customers have access to an easy to use payment system that cuts transaction fees, and the Conduit system certainly demonstrates that.

 

What are Interchange Fees?

Interchange fees Y2Payments

If you are a business that accepts credit card payments, there are fees you could be overlooking, and they may be costing you more than you think. They’re called interchange fees, and if you don’t understand exactly how much you’re paying each month to processors for these fees, you may not know where all of your profits are going.

A Definition
Interchange fees are essentially what a credit card sale is costing you. Any time you process a credit card sale with a customer, you’re paying a fee to do so. Take a moment to consider who is involved in a credit card sale.

First, there’s the merchant service provider – that’s your bank or financial institution. The financial institution that issues the card is the second party involved. That’s the company who actually issued the customer a card.

The last party involved is the credit card company behind the card itself like American Express or Visa. They set the interchange rate itself. For every card issued, a pre-set rate is also issued for merchant service providers to pay the bank that issues the card. That rate determines those fees that are costing you so much money.

Cards with points, airline miles, rewards, and so on have higher interchange rates. Debit cards tend to have lower interchange rates. The way you process a card also affects those rates. Swiped sales tend to have lower rates associated with them than online sales do. The important point to remember, though, is that the interchange rates set by the card company apply to every single merchant, even the smaller ones.

Lowering Your Rates
So, how can you keep those costly interchange fees in check? Work with us. With more than thirty years of payment processing experience, Y2Payments can help you save some of that money from your current statements and have it go directly to your bottom line! Contact us today to learn more.