payment processing Archives - The Future of Payment Processing is Here!

September 18, 2019August 29, 2019

Find Certified Payment Processing Now!

certified payment processing company y2payments

Whether you’re a brick and mortar, an online merchant, or you provide services to a variety of different merchants, you can’t survive today without a good payment processor. You limit your ability to connect with customers who want to pay with a variety of different options, but choosing a payment processor is tougher than ever. The market gets a bit more crowded every day. How can you find a certified payment processing company that’s a good fit for your organization? This guide can help.

Think About Security

As you work to narrow your choices, security has to be your top priority. You must select a payment processing company that offers your company and your customers security. Typically, that means choosing someone who is PCI-compliant, as they’ll be able to take advantage of the industry’s latest technology to help safeguard the process. Often this involves tokenization or various encryption tools, but these will change over time, so don’t just look at the company’s approach to security now. Ask about updates and changes to see how often they take advantage of what’s out there.

Consider Support

Most people look to fees first, but you know security has to come first. Think the cost to your company should come second? You may want to rethink that. Imagine choosing a company based on their rates only to find out that no support was included with those rates? That would be pretty frustrating if you had an issue, right? Support has to be next on the list of what to consider, as while payment processing will be mostly automated once you get set up, it’s possible that you will need a bit of help once in a while. The ability to reach someone who can help you immediately is invaluable, and having that support built into your costs is important for your company. Look for a processor who offers support both during set up and as you continue to do business.

Costs

The last thing you’ll want to consider is the cost to your company. You want your certified payment processor to have low fees, but you need to keep in mind what those costs involve. Ask about fees for terminals or anything else you have to lease from the company. Find out if you have to work with the company for a certain amount of time. Find out if you have a quota you have to meet or a number you have to stay under, too, so you know what you’re going to end up paying.

In the world of payment processing, there are different kinds of packages. Some offer tiered pricing based on the frequency of your transactions and the amount of each. Some offer a subscription-based model. Flat-rate models are usually great for merchants who do a low volume of business. Some even offer an interchange-plus system where they itemize the fees you pay over the course of a month and help you see what rates you’ve paid and to whom you’ve paid them. Your pricing model depends on the way your processor does business, so it’s essential to find an organization that fits your business model.

A certified payment processor can help your business grow in ways you never thought possible, but the reality is that there’s no one-size-fits-all model when it comes to payment processing because businesses aren’t like. Instead, you have to search to find a solution that meets your needs.

If you’re looking for a great payment processor, give Y2 Payments a call today. We’ll help you understand our unique business philosophy and decide whether our model works well for your company. To learn more, connect with us today.

September 12, 2019August 29, 2019

Is Becoming a Payment Gateway Reseller Worth It?

Ecommerce only continues to grow. One recent study found that the world will include 1.92 billion digital buyers over the course of the next year, and every single one of them is a potential customer for the next ecommerce startup. Companies that do business online, though, need serious help in a number of different areas. Often they need assistance with inventory, bespoke computer systems, and much more. If you’re one of the many companies who offer that assistance, you may be looking to step up your game a bit. Entering the world of payment gateway resellers can help you do just that, and it could prove to be a very profitable investment.

What Is a Payment Gateway Reseller?

If you’re not familiar with the concept already, the idea here is that you market another company’s digital payment processing services to your clients. You get a great rate from that payment gateway company, and you choose to mark up your services in any way you want.

For example, maybe the rate the company offers you is three percent and twenty cents on every transaction. You’d be able to mark that up for your customers as much as you like. If you upped the transaction fee to thirty cents per transaction, you’d get ten cents every time they processed a sale. It may not sound like a lot of money, but if you have a customer who is doing a serious volume of business, it’s going to add up quickly. You can mark up any part of the rate you like, and if you have several companies working with the payment services you’ve resold, you’re going to have a beautiful revenue stream you may not have previously considered.

Why Y2 Payments?

Decided this is the right opportunity to meet your needs? Y2 Payments is the perfect partner. Our system is certified by the biggest credit card processors in the industry, and our interface means you work seamlessly with your clients. We even offer customization that helps promote your company’s brand as well as a great leads program and unlimited support that’s always free.

Ready to become a payment gateway reseller with us? Give us a call today at 888-693-1850 to learn more.

August 16, 2018September 4, 2018

Not All Credit Card Processing is the Same

Have you ever seen those commercials where customers are paying with a particular credit card and the store they’re buying from runs like clockwork? Then one customer comes up with cash, fumbles around with it as if they just learned how to use their hands, and throws the whole process off. The ads talk about how credit card processing is so much smoother than traditional payment methods, but it doesn’t take high risk merchants into account.

What Does This Say about High-Risk Merchants?

What’s funny is that this doesn’t hold true for high-risk merchants. Sure, the retail industry is catered to because there are alternatives out there.

Merchants who rely on credit card payments and don’t have those alternative options of payment? They aren’t always offered the smooth side of the credit card processing industry. They’re offered increased rates by services that have spent the last few decades updating technology to meet old philosophies that no longer serve high-risk merchants. At the same time, they cut costs everywhere they can, including and especially customer service and customized reporting.

This approach is bad enough when it’s aimed at customers. When this approach is aimed at high-risk merchants, it falls apart. High-risk merchants are the ones who need responsiveness and customization in payment processing the most. They need new philosophies based on new technology from their merchant account processor.

The rest of the industry wouldn’t want to admit it, but high-risk merchants. . . they’re the ones who take the risk to pioneer new payment processing territory that will become mainstream down the road. They should be given the most dynamic tools available, not treated like an afterthought.

The Y2Payments Difference

High-risk merchants shouldn’t have to take on additional risks at unreasonable costs. Some cost increase compensates for the risk. That’s reasonable, it comes with the possibility of hazards. At the same time, that territory and cost should bring better tools, technology, customization, and reporting to the table. You ought to get something more for that cost, not something less. You’re in a business that is deemed risky – sometimes unfairly – but your money shouldn’t be worth less when you work with a merchant account processor.

If you pay more because of those perceived dangers, you should also get more. You should get benefits like training, integration with your technology, customized reporting, fraud and chargeback protection, interchange pass-through pricing, and more. There should be a difference.

Cooperation, not Competition

Moreover, that’s not an empty promise. If you’re a merchant account processor who works with high-risk merchants, you should want to see them do well. The better they do, the more stable and flexible you can make them, and the more loyalty and business they give you in turn.

High-risk merchants have to remain on their toes because of their industries, but this doesn’t mean they can’t be supported by businesses built to serve them. If Y2Payments can make your business more capable, both parties benefit and make the other side of the fence a little less dangerous.

Want to learn more about our credit card processing? Contact Y2Payments today!

March 23, 2018March 22, 2018

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.

February 27, 2018February 26, 2018

What are Interchange Fees?

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.