The Different Types of Credit Card Processing

different types of credit card processing y2payment systems

No matter what the industry, you need a fast, convenient way to accept credit card payments. These days, almost everyone carries a credit or debit card, and whether you’re working online or you have a brick and mortar location, customers expect the ability to pay with their cards.

Businesses that don’t accept cads lose a huge chunk of the market. Nearly half of all transactions last year involved a card, and those are sales numbers you don’t want to ignore.

For example, Visa has done studies where they conclude a merchant will experience a 30-40% sales increase merely by accepting cards as payment. When it comes to credit card processing, though, what are your options?

Take a look:
– A Standard Terminal:  This is the type of credit card processing almost everyone considers. It’s typically a cash register with a credit card machine build into it. The payments industry refers to this as the Card Present environment. This is the best option for business owners who have a physical location and do plenty of credit card sales each day. Most of them are equipped with swipe and chip capabilities. This means additional payment options for customers. The technology can be an expensive investment, but it can also be worth it if you know you’re going to have customers who need your services and products, and you know they’re coming to you to get it.
– A Mobile POS System:  Mobile phone technology has been nothing short of amazing for business owners, and it’s developed to the point where you can now use your phone to process payments. If you have a smaller business, or you do quite a bit of trade show business, this is the best option for your company. It’s small, inexpensive, and you can literally turn any of your devices into a credit card processor instantly.
–  E-Commerce Processing:  Doing quite a bit of business online? You’ll still need to accept credit cards, but you’ll need to do it virtually instead of swiping the card. E-commerce is a great way to reach customers who can’t make it to your location, but they’re still interested in your goods and services. Here the industry identifies this as Card-Not-Present (CNP) since your sales staff does not make visual contact with the cardholder. As one would expect, CNP fees are more expensive than their Card Present cousins. The best credit card processor will often help you navigate the murky waters of privacy legislation, even if you’re accepting cards online.

No matter what type of credit card processing you want to do, we can help. Contact us today to learn more about our merchant services and payment Conduit.

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.