Feb 15 2017

Good-bye SunSet Software!

Admin
Advice, Business, business owners, EMV, Industry, merchant services, New Product, Tech

Sunsetting usually means that a product or software is no longer supported.  Is the software you are using no longer getting updates with new features?  If not, that usually means it is headed to the sunset!

Don’t keep buying software for your POS that is headed for retirement. Contact COCARD today and lets talk about how REVONU POS can give your point of sale new LIFE!

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Oct 10 2016

The First Year: Goals, Challenges, and Accomplishments with EMV

Admin
Advice, Business, business owners, EMV, Industry, merchant services, New Product, Tech, Uncategorized

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It has been little more than one year since the liability shift began on October 1st, 2015, where merchants would be liable for fraudulent activity in their stores, as opposed to credit card companies.  And since then, small and large businesses alike have made the switch to EMV.  Here is a look at some of what the transition has been able to accomplish, along with some of the challenges we continue to work through:

The Main Accomplishment: The main goal was to take a bite out of fraud, and so far, the switch to chip-enabled cards is doing just that.  Mastercard, for example, in a press release last month, noted a 54% decrease in fraud between April 2015 and April 2016.

We do have a few areas where we continue to work on improving, and they include:

  1. During this transition, not all merchants use EMV-card processors.  So sometimes you might be required to swipe, while other times you may need to insert the card chip-first.  It can be confusing, but it is a necessary step to ease the transition.
  1. Speed of transactions. Some EMV payment processors are faster than others, and we want all of them to be quick, to get you in and out of a store swiftly.  With different card brands having different speeds for payment processing, we would like to eventually develop a more streamlined, efficient payment speed that everyone works within.
  1. Bottlenecks. With many merchants deciding to upgrade to EMV-supported payment processors, certification can be a lengthy process, along with lead time needed to manufacture chip cards.  Both can be a lengthy process, and Visa, for one, starting in July 2016, introduced initiatives to ease the certification process.  And the card manufacturer, Oberthur, can manufacture cards in five days, cutting lead time significantly from the traditional weeks-long lead time.

Overall, we are making strides towards eliminating fraud in the United States, chiefly thanks to the merchants and consumers.  We will continue to work on these items to ensure a better transition.  To learn how COCARD can work with your company to ease the transition from stripe cards to chip-enabled cards, call us today at 1-800-317-1819.

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May 17 2016

6 Ways Accepting Credit Cards Can Benefit Your Business

Admin
Advice, Business, business owners, EMV, Industry, merchant services, New Product, Tech

Small REVONU cartoon

Are you wondering about the benefits of accepting credit cards for your business?  Cash and check are acceptable forms of payment, but accepting credit cards adds the extra touch of legitimacy to your company.  Take a look at the ways in which accepting credit cards can help your business.

  1. Accepting credit cards creates trust. When a potential customer sees logos of credit cards that your business accepts on an applique on your door, or noted on your website, your business becomes more legitimate because your business accepts trusted brands which are major forms of payment.  The more that your business it trusted, the more likely someone is to buy from you.

 

  1. You will increase sales. Simply put, accepting credit cards will allow you to make more money because it’s one more form of payment that people are able to use to make a purchase.  What business doesn’t want to increase sales?

 

  1. Credit cards offer convenience. Not everyone carries cash, and writing checks is fast becoming obsolete.  However, most everyone has a credit or debit card.  It is a form of payment that is carried by many people, and accepting it allows a person to make a purchase without the hassle of having to worry about using either cash or check.

 

  1. People are more willing to make a purchase with a credit card. People are more willing to buy on impulse using a credit card because of the amount of money on the line of credit.

 

  1. You can grow your business to include online sales. Online purchases generally require a credit or debit card to make a purchase.  Accepting credit cards will allow you to conduct business online and, as #2 suggests, increase sales in the process.

 

  1. Payment snafus are eliminated. The beauty of a credit card is that it is declined immediately, so you don’t have to worry about your business losing money to a bounced check.

 

These are just a few ways in which accepting credit cards can make your business more profitable, and really, who doesn’t want that?  Give COCARD a call today, we would love to help you find the perfect processing solution for your business!  For more information about credit card processing, point of sale solutions and more call 1-800-317-1819 or email at info@cocard.info.

 

 

 

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COCARD® is a registered ISO of Wells Fargo Bank, N.A., Concord, CA.
COCARD® is a registered ISO of Fifth Third Bank, N.A. 38 Fountain Square Plaza, Cincinnati, OH 45263
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For More information call Toll Free: 1.800.317.1819 | Email: info@cocard.info