Integrate Transaction Data into Your QuickBooks Account!

Are you looking to integrate QuickBooks with your current credit card processing system? If so, consider trying Payscout for QuickBooks! You can experience the convenience of QuickBooks combined with the quality of service you have come to expect out of Payscout.

By linking your credit card and check transaction processing with your QuickBooks accounting program, you can pay invoices, process transactions, generate sales receipts, apply open invoices, and synchronize transaction data without ever leaving your QuickBooks dashboard. Payscout for QuickBooks also offers recurring payment capabilities, and each transaction is encrypted end-to-end by the Payscout Customer Vault. Payscout for QuickBooks is compatible with QuickBooks Pro, QuickBooks Premier and QuickBooks Enterprise.

Why Choose Payscout for QuickBooks?

If you have ever used QuickBooks before, you know that merchants must make double-entries when transactions are completed. Once the transaction is completed in the gateway, the entry has to be manually input into QuickBooks. The Payscout for QuickBooks Syncpay feature eliminates the double-entry problem by allowing merchants to make an accounting entries without ever leaving the QuickBooks interface.

Payscout for QuickBooks benefits at a glance:

  • Works directly within QuickBooks
  • Allows merchants to pay invoices
  • Generates sales receipts
  • Processes batch transactions
  • Generates batch reports
  • Allows multiple payments against open invoices
  • Supports card present transactions
  • Supports end-to-end encryption
  • Compatible with QuickBooks Pro, QuickBooks Premier and QuickBooks Enterprise

If you are new to using QuickBooks, or have questions about Payscout for QuickBooks, visit our website or contact one of our customer service specialists at 888.689.6088 for more information!

Restaurant Merchant Accounts

Restaurant and hospitality oriented entrepreneurs know that having amazing customer service is a defining part of what makes a business successful. To many customers, the ways they can pay for a meal or service makes a huge difference in whether they will return to your establishment. In an age of smartphones, tablet point-of-sale (POS) systems, online banking, and virtual shopping the limitation of only accepting cash or check payments is no longer a sustainable business model.

On top of providing your customers outstanding service and products, you need to provide flexible payment options, or risk losing out on a sale. Patrons utilize credit and debit cards for their purchases at restaurants more than any other kind of establishment. In 2012, a full 81 percent of all full-service restaurants in the U.S. used plastic for those purchases; up 7 percent from 2004. This trend is expected to continue with percentages reaching up to 90% by the year 2016. 92 percent of restaurants accept debit, credit, and pre-paid cards as a form of payment, and that number is also on the rise.

According to a 2014 report from Bankrate.com, close to 50 percent of Americans carry $20 or less each day, including nine percent who don’t carry any cash at all. By adding credit and debit card acceptance to your payment options, you will open up a whole new avenue of sales and ensure that you never have to turn away another customer who doesn’t carry cash.

Before you choose a service provider and open a restaurant merchant account, take the following into consideration:

  1. Fees that the provider charges – It is important that the entrepreneur know how they will be charged for each transaction. Some providers will charge hidden fees on top of what is already charged by the credit card associations. Only do business with a provider that has a transparent fee structure.
  2. Account caps – It is important that the account not be capped to ensure that all the payments can be withdrawn.
  3. Customer service – You should be able to reach your provider with questions and concerns quickly and receive quality service, regardless of the size of your business.

For more information about merchant accounts, check out the Payscout website or contact one of our customer service specialists at 888.689.6088 to learn how we can help your restaurant business grow!

How a Payment Gateway Can Help Your Business

Today, innovations in information and communication technology are making it easier than ever to connect with people from all over the globe. We now have instant access to a vast online marketplace that has revolutionized the way we do business. While running an online store is incredibly convenient for you and your customers, it also leaves you susceptible to fraud. In order to do business online, you will need an online payment gateway, or virtual terminal, to keep your transactions safe.

A virtual terminal is the link merchants need to enter credit, debit and automated clearinghouse (ACH) payments online securely and efficiently through their own computer. A virtual terminal can be used to process card-based and ACH transactions from any computer with Internet access, anywhere in the world, enabling the merchant to securely handle the verification, reporting and processing of transactions.

Virtual terminals work much like when a customer submits an order through either a securely hosted payment form or through an integrated shopping cart. The customer’s credit card information is encrypted and the payment makes its way to the payment gateway, which forwards the information to the merchant’s bank processor. Next, the payment is processed through the card network and authorized by the customer’s issuing bank.

There are many benefits to having a virtual terminal, including enabling secure transmissions of customer data, receiving less chargebacks due to the transactions being verified, automatic PCI compliance, and the ability to accept all major card brands.

For more information on virtual terminals and how they could benefit your business, please visit the Payscout website, or call one of our specialists today at 1-888-689-6088.

An Overview of Merchant Processing Services

Whether you have an online business or a regular brick and mortar store, offering your customers the option to pay by card is crucial. That is why you need a merchant processing service partner. Merchant processing is an important service for businesses, enabling them to process both debit and credit card payments from customers. Choosing the right service provider is just as important as choosing the right service.

How Exactly Does Merchant Processing Work?

When a customer hits the ‘pay now’ or ‘buy’ button on your website (or when you swipe the credit or debit card over the counter), an authorization request is sent to your merchant processing service provider. The provider then forwards the authorization request to the issuing bank or the credit card association for approval. Included in this request is relevant data such as the card number, expiration date and CVV number.

Next, the issuing bank or the card association sends back an approval or decline message to the merchant processor. According the response received, the merchant processing agent conveys the message to you and your customer to validate whether the transaction has been approved or declined. The payment for the transaction is deposited into your merchant account, minus the service charges for processing the transaction.

All of this is automated, secure and occurs within minutes, making it incredibly convenient for both your customer and your business.

Things to Consider When Choosing a Merchant Processing Service Provider

The bank card processing industry is complex and ever changing. With so many merchant services providers clamoring to be the best in the business, it can be difficult to know who to choose. Make sure to keep the following in mind when choosing a merchant processing firm to partner with.

Does the Provider offer all the Services you need?

Your needs are unique to your business and you need a provider that can work with you to meet all of them. For instance, if you have an online business, you need a provider that offers a secure payment gateway and virtual terminal, and one that also specializes in risk management. However, offline stores have completely different requirements, so choose a company that meets all your specific needs.

What are the Service Charges?

Though it is not recommended to always opt for the ‘cheapest’ service provider, cost is an important factor while considering merchant processing firms. We suggest not focusing on how much you are being charged, but focus instead on what exactly you are being charged for. Some companies do offer certain value added services at an extra cost. If your service provider is up-front about all charges, and can satisfactorily answer all of your questions, it may still be worth paying the (slightly) elevated service fees.

Merchant processing service is important for businesses, so make sure you choose your provider wisely! Don’t forget, our Payscout specialists are always here to answer any questions you might have, contact us online or call us direct at 888.689-6088.

Accept Payments Using Your Smartphone or Tablet

Would you like to enjoy the convenience and flexibility of accepting credit and debit card payments for your business, wherever you go?

Other businesses are already taking advantage of mobile credit card processing. Taxis and food trucks can accept cards via smartphones, and chances are, your favorite restaurant now takes orders and payments on an iPad or tablet-based point-of-sale (POS) system. In a world where people are constantly on the move, doesn’t it make sense for your payment processing to be mobile as well?

Mobile Card Processing Services

Accepting credit and debit card payments using a phone or tablet device is the future of electronic payments. Mobile card processing services allow customers to make payments for products or services purchased anywhere, anytime. When you’re delivering products to a customer’s home or conducting a sale in a public place, carrying your card processing equipment is not only inconvenient, it’s virtually impossible. This is a time when using a mobile payment service comes in especially handy.

Six Steps to Mobile Credit Card Processing

  1. First, you need to set-up an account with a mobile card provider like Payscout!
  2. Second, you will set-up equipment that enables your mobile card processing. You may also have to download an app on your mobile or tablet device to accept payments.
  3. Now, you’re ready to accept payments! You will need to swipe your customer’s card and enter in their information by taking a photo of the information on the card or asking your customer for the required information.
  4. Depending on the type of app, your customer can either sign to approve the payment or provide you with additional information required to authorize the transaction.
  5. Watch, as the money comes pouring in, because card processing through mobiles takes less than a few seconds!
  6. You will also be able to email or text a receipt for the transaction to your customer.

The Benefits of Mobile Card Processing Services

It is easy to find a merchant account service provider that offers mobile processing solutions for Android phones, iPhones and iPads. However, finding the right service provider for your needs can be a bit tricky. Make sure you weigh the efficiency of the service against their fees before you enter into a contract.

Once you’ve found the right service provider for your business, you can take advantage of the following benefits:

  • Increased Security – Mobile credit card processing keeps your customer’s information secure by swiping their card and digitally transferring all of their sensitive data.
  • Compliance – By using a mobile credit card processor, you automatically stay in compliance with the law that requires all printed credit and debit card receipts have all but the last 5 digits of the customer’s account information removed.
  • Enhanced Speed – Mobile credit and debit card processing doesn’t require you to call to authorize a transaction, making the processing fast and easy.
  • Lowered Cost –Debit and credit cards can be used to make a purchase whether the actual card is present or not, and while merchants are charged fees for both transaction types, the percentage for card-present transactions is typically lower than the fee for card-not-present transactions. This means a merchant can save a significant amount of money by using a mobile credit card processor.

Mobile card processing services also allow you to stay connected to your business on the go. This enables you to boost sales and improves your profit margin, thus helping your business grow. Contact one of our Payscout specialists today at 888.589.5088 or by inquiring online to see how we can help grow your business using a mobile card reader!

Managed Risk Merchant Services – “What You Can Expect”

Offering your customers the option to pay via credit or debit card can be a crucial step for your business. Especially when it comes to doing business online, as paying with a debit or credit card is the only option a customer has. Many third party payments providers will offer credit card processing as part of their merchant processing services, but there can be a catch.

While these services are readily available to lower risk businesses, businesses with higher risks – or a managed risk model – can find it difficult to get the support they need to open a merchant account. This is due to the fact managed risk merchant services are only offered by specialized service providers, like Payscout.

Since Payscout has such a long history of partnering and supporting higher risk businesses, we thought it would be helpful to provide answers to some of the most common questions you may have about managed risk payment services.

Is your business type considered managed risk?

As a general rule, you will qualify as a managed risk merchant if your business type is classified within the financial industry as having a “higher level of managed risk.” This means you either serve an unpredictable clientele or accept only online transactions where the actual card and cardholder are not present to authorize. It could also mean your transaction turnover is high with large volumes of sales. These factors tend to lead to enhanced risk for card fraud, which is what the providers are looking for when they evaluate eligibility. Small companies with low volume sales can also be considered managed risk businesses, because they typically can’t afford to make an investment in fraud screening tools, like the larger companies can.

It is not just the type of industry or size that can cause a business to be defined as managed risk. The individual owner’s reputation is equally as important when determining risk status. Business owners with poor/inconsistent credit histories, or those that have been blacklisted, are considered to be a higher risk than those with good standings.

Does your merchant services provider want you to provide a rolling reserve?

Most service providers will want a reserve of some kind to protect their interest, so keep that in mind. Make sure you understand the terms of your contract and it is important to feel confident about your relationship with whatever merchant services provider you choose. They will play a large role in the success of your business.

What should I look for in a managed risk merchant services partner?

Merchants with managed risk models often have to search a little more to find a merchant provider that will board them as an account and also provide them with the excellent service they deserve. For this reason, the process of finding the right managed risk merchant services provider is important. The right merchant services provider can make or break your business down the road, so looking for a provider that is the best fit for you is worth the time.

Also, since managed risk merchant services fees are typically higher than those charged for low-risk businesses, it’s important to review proposed contracts and rates carefully. Some merchant service providers can take fees to an extreme, charging extra to set-up accounts on top of standard processing fees.

Moreover, it can be difficult for managed risk merchants to negotiate the terms of their credit card processing, due to the fact they have less leveraging power. However, the pros of enabling debit and credit card payments for your business will generally outweigh all the cons, so we encourage you to keep looking until you find a provider you feel comfortable with. Just remember to thoroughly read your contract and keep an eye out for extras like termination fees or other incidentals.

When choosing a managed risk merchant services provider, there are many things you can do to ensure you find the right partner:

  1. Ask around and choose a provider with a well established reputation in the field and one that is well spoken of for the range and quality of services offered.
  2. Choose someone who caters to your specific needs. For instance, depending on the nature of your business, you may require 24×7 customer service support.
  3. Insist on a breakdown of the fee structure. Don’t sign-up unless you are convinced the fee structure is fair and clear.

Below, we’ve listed a few of the managed risk business types Payscout supports:

  • Pharmaceutical products
  • Travel services
  • Telemarketing businesses
  • E-wallet and E-cash
  • ISP and hosting services
  • Online cigarette or tobacco vending
  • Online auctions and debt services
  • Online dating services
  • Online sale of replica products

Setting up a managed risk merchant account can be overwhelming. Payscout has a team of managed risk specialists standing by to talk to you about your unique business needs and help you find the perfect blend of services and price. Give us a call at 888-689-6088 or inquire online today!

A Little Cultural Empathy Goes a Long Way!

For those merchants who’ve never branched outside of the United States to sell products before, or those considering entry into a new global market, the idea can be a bit daunting. While language barriers are one of the more obvious things to consider when a company is looking into what it takes to sell products abroad, even English speaking foreign countries such as Australia, the U.K., and Canada, all have other cultural and regulatory management issues to address before a successful business model can be established there. Clearly, the amount of investment depends on which geographic areas are targeted, what products are being sold, and how aggressive a company wants to pursue business, but the more comfortable a merchant is up-front with the cultural requirements they will need to meet, the more efficient and successful they will be in the long run.

The exchange of foreign currencies, special regulatory guidelines, licensing, compliance, and risk management are all on the list of important considerations when you are analyzing a particular foreign market. Not to mention, economic strengths and weaknesses, political issues which could be brewing, or even good old fashioned marketability. How does a company approach all these key touch points knowledgeably without getting overwhelmed? Payscout suggests leaning on the one vendor you know you won’t be able to live without; an electronic payments partner who is already well threaded through the global buying network and experienced with the worldwide business landscape. A merchant services provider who has already proven they have a foothold on a country’s landscape and understand the requirements for inbound merchants. This one decision will provide you with the cultural empathy you need to navigate across political and geographical lines without risking profitability.

While the list of risks might seem to outweigh the benefits at times, Payscout leaders feel this an opportune time for business owners to embrace their entrepreneurial spirit, and take bold steps to expand internationally. It’s no secret, online sales worldwide have been predicted to grow exponentially in the coming years by global economists and market research firms due to growing consumer adoption of online and mobile commerce. A fact, Payscout is betting on as they roll out their latest “Go Global Now” initiative to help present and future merchants comfortably take advantage of the ripe global business climate and make the wisest international business decisions.

Payscout has the experience, knowledge and consultative approach to give you everything you need to expand across the cultural divide in an efficient, pleasant, focused, and empathetic way.

In fact, Payscout is even prepared to walk you through every step of the planning process, and give you the expert advice you need to assess which foreign markets are best for your particular business model and product.

Payscout merchant service representatives will not only help you get a working payment system set-up for accepting foreign currencies, but they’ll also counsel you on when the right time is to pursue international incorporation, guide you through foreign regulatory requirements, and give you sound advice on what it will take to market your products effectively to unknown groups of consumers.

It is an exciting time for U.S. merchants who want to branch out beyond their current domestic boundaries! However, Payscout cautions merchants to take the time to consult with the right professionals who have a legitimate hands-on sense of existing foreign markets.

Payscout has been monitoring the global marketplace closely for many years, and they are seeing countries which were once closed to online business or operating under stern eCommerce restrictions, now opening up to the idea of online commerce. Several of them, such as Brazil and China, have even stepped into the lead and are expected to stay frontrunners in the online purchasing market for many years to come.

If you are an enterprising U.S. merchant considering when and how to take your business global, Payscout can help you plant roots overseas without any hitches or hiccups. Call us today at 1-888-689-6088 for a free global commerce consultation or apply online.

Go Global Now!

If you aren’t selling your products in foreign markets yet, you could be missing out on the biggest consumer buying trend the world has seen since the advent of eCommerce. Online shopping is now considered a norm in the culture of many countries, with several foreign markets now leading the pack year-over-year in eCommerce sales. As the rising usage of smartphones and tablets for purchasing continues to add fuel to this fire, Payscout is counseling its merchants to jump on the global bandwagon, and take advantage of all these emerging interests.

The practice of online selling has come far from where it began; as a simple, online ordering page for local pizza delivery. Today, anyone can order a gourmet pizza from New York, and request it be delivered anywhere in the world! Of course, pizza is only one of the many millions of products available for purchase online today, and the eCommerce ecosystem is still gaining strength. Online sales have been tagged by research experts and economists alike as today’s driving force behind retail growth, and consumers continue to favor eCommerce more every year as a preferred method for doing business. Online sales worldwide are predicted to grow exponentially in the coming years, with eCommerce revenues expected to reach 1.6 trillion by the end of 2015.

Moreover, countries which once were closed to online business or operating under stern eCommerce restrictions are now beginning to embrace online commerce. Even several of them who’ve been thought to be nearly impenetrable have now stepped into a lead role as global eCommerce frontrunners. Countries such as Brazil and China, which have traditionally been difficult regions for establishing turn-key online sales programs, are now being named rapidly emerging global markets for eCommerce and mCommerce sales by economic experts.

This is opening doors to many enterprising U.S. merchants who have been considering when and how to take their business model global. With its multi-country presence, and a firm commitment to supporting the entrepreneurial dream one transaction at a time, Payscout is well positioned to help these companies learn the lay of the land and successfully launch into emerging foreign markets.

Offering merchants the benefits of a unique cultural empathy and an established footprint in many of these markets, Payscout’s deep cultural awareness and insights have enabled many merchants to set-up and run turnkey eCommerce operations in global economies. With years of experience resolving both real and perceived barriers to entry in foreign commerce markets, Payscout will expertly guide merchants through the process and to the resources for easily navigating regulatory, exchange, language, risk, and compliance matters. Thereby, ensuring a client is up-and-running in a foreign market and selling to consumers quickly, efficiently and seamlessly.

If you are ready to explore whether your company is suited to sell on the global commerce frontier, Payscout has representatives standing by to help you research each foreign market, and determine best practices for launching a branded product presence there.

Call us today at 1-888-689-6088 for a free consultation or apply online.

Merchant Account Basics

If you want to accept credit or debit card transactions as a business, you will need to have a merchant account. Merchant accounts are a business arrangement between you and a credit card processor that allows you to accept card-based payments from your customers. Those payments are then deposited into your bank account by the credit card processor after the sales are complete.

There are two basic types of merchant account; one for card-present transactions and one for card-not-present transactions. A merchant account for card-present transactions is used when the credit card and cardholder are physically present at the time of the sale and the card is swiped through a credit card terminal, or via a mobile card-swipe device. A merchant account for card-not-present transactions is used when neither the card nor the cardholder are present for the sale, as is typical in eCommerce sales.

You will have to get an application approved by a credit card processer in order to get a merchant account. The processer outfits you with the products and services you need to accept card-based transactions, including hardware and software.

The credit card processor acts as a middleman between you and the issuing bank. When the bank authorizes a customer’s transaction, the transaction amount is credited to your merchant account by the processor. At the end of the day, you settle all of your transactions in one batch with the processor, who deposits the funds into your bank account typically within two days.

By partnering with a credit card processer like Payscout, you will never again have to turn away business, because you can’t accept card payments. You also get to enjoy the benefits of working with an international company while still receiving dedicated attention, honest dealing, and genuine appreciation from the Payscout team. We’ll treat your business with respect and professionalism, setting up your service quickly, with ready support every step of the way.

Check out our website for more information on merchant accounts or contact our helpful, live customer service representative at 888-689-6088 to address any questions you may have!

Tips for Avoiding Credit Card Fraud

 

Fraud is one of the major issues faced by many credit card owners today. Millions of dollars are lost to credit card fraud each year, with no sign of this trend decreasing. High profile security breaches on organizations like Target and T-Mobile prove that even companies that invest in the best security possible can fall victim to theft and fraud.

So, how can an everyday person protect their identity and prevent fraud? There may be no surefire way to prevent credit card fraud, but there are certainly steps you can take to protect yourself. Try following these three tips to cut down on your chances of falling victim to credit card fraud.

1. Keep Your Card Secured

This might seem obvious, but many people fall victim to fraud after first falling victim to theft. Never leave your credit cards in a place that could be accessed by thieves, like in a desk drawer or in your car’s glove box. Remember, a thief does not need your pin number to withdraw money from an ATM using your credit card, and they can ring up a big bill buying things online. It is best to keep your credit card on your person, either in your wallet or purse, at all times to keep it out of the hands of potential thieves.

2. Don’t Share Your Credit Card Information

The golden rule in avoiding credit card fraud is to not share your credit card information with anyone. It is extremely easy to shop online, and providing online retailers with your credit card information has almost become second nature to some. However, you need to be careful about who you shop with. Make sure you are using a legitimate merchant site and check the website’s credibility before you buy. You also should be cautious about providing your information over the phone, as telephone scams are rampant. Remember, if a deal sounds too good to be true, it usually is.

3. Review Your Billing Statements

There are times when credit card thieves withdraw small amounts of cash from many different bank accounts hoping that their victims never notice the discrepancy. That is why it is so important to review your monthly bank and credit card statements, and equally as important to report any spending you do not remember or have no record of.