mCommerce Apps help grow your business!

 Do you have a branded Mobile App - 

an mCommerce App?

Are you offering your customer an easy way to purchase?

If you own a retail type business whether online or brick & mortar, you probably understand the value of eCommerce. However, post COVID, mCommerce has grown exponentially to address those purchasers that do not or cannot get access to a PC or pull up and maneuver mobile based websites! Hence, having an eCommerce mobile app for the shopping site is not a luxury anymore, it is a MUST! 

While most large companies have already upgraded their marketing and offer eCommerce mobile app, most smaller/local companies do not! Having JUST a website isn’t going to get you the desired activity and revenue you desire even if your  have optimized your website to make it mobile responsive. If the consumer can, they might check you out online for verification and buy from their once. However, if you have a BRANDED mCommerce App (a smartphone mobile app) once they find you reputable and like your product or service, the convenience of mCommerce will be the place they want to go purchase! Here are some stats that show you why you need your own branded eCommerce mobile app:

• Mobile eCommerce purchases are expected to surpass the 54% of total eCommerce sales in 2021.
• Approximately 60% of the online purchases are done using mobile devices. (Unusable eCommerce Websites will not make the cut!)
• According to Google, 80% of the customers start their purchase on one device and end on the other. If your business offers a robust mCommerce App, your customers will be happy with the  convenience, time saved and buy from YOU!

Change in the consumption behavior

Along with the above mentioned statistics, customers' behavior must be monitored and analyzed; where do they purchase, how much, how often, and what type of marketing do they respond to? The m-commerce apps are expected to make up to 50% of the total online purchase. Moreover, Google believes that the ‘Right now’ expectation of the mobile phone users has increased and most will even pay more to get a product or service immediately! They also report that 53% of visits are abandoned if a mobile site takes longer than three seconds to load! Having a BRANDED, responsive eCommerce mobile app for your business is surely one of the solutions to deal with the changing behavior of the customers.

Mobile experience can affect your branding

Research has proven that the mobile app experience is crucial to customer satisfaction of a business. Speed, relevance and personalized contents are a few of the factors that affect the overall user experience. Customers today have twice as much interaction with brands on mobile devices than other mediums such as computers, TV and etc. This makes the eCommerce mobile app one of the most intuitive medias for marketers to build brand awareness and equity. Easy browsing, simple navigation, filters and site search, saves time, effort and money, boosting the company's brand recognition.

Every time a consumer has a good experience with your mobile app, it positively increases your brand image within your local market and industry! Serving your customer with a branded mCommerce App will do the following for your business: 

1. Create brand loyalty
2. Reach untapped audiences for your products and services
3. Give your business more opportunity to expand on promotions, loyalty programs and marketing
4. Do something MORE than your competition
5. Stay connected with your customers 
6. Make a larger profit  

Merchant Processing Solutions offers Branded Mobile Apps for our merchants to enhance their already established storefront, website and more. Please reach out to us today to get your mCommerce App built and capture an untapped market! 

Merchant Processing Solutions Inc.

954-938-2420

Business & Consumer Trends Post Covid 19

 Six Business Changing Outcomes Post Covid-19 for Business & Consumers! 

Adapting to contactless payments 

Business Changes: 

• Anywhere Operations demanded - business have to offer their products for the convenience of their customers regardless of whether they shop in-person or online or smart phones!
• Adopting Cloud-based Software and Operations allows for a smoother run business
• Developing a "remote" workforce in all retail industries allows remote sales and customer service to be handled outside of the brick and mortar!
• Buy Now Pay Later continues its rapid growth in 2021 with consumers tapping traditional credit lines such as store installments, credit cards and long-term financing with Zero to low interest rates!
• E-Commerce marketplaces such as Amazon, Shopify, Pinterest and others will continue to grow enhancing the retail sales industry.
• Business must adapt and offer contactless payments to ensure customers and employees feel safe and adopt digital wallets in your payment processing system, for both in-person and online purchases.

Delivery with pre-payment has increased 30% in 2020

Customer Changes: 

• Cash usage has decreased by 40% in payment acceptance
• Contactless enabled device usage up 63% 
• Consumers using digital wallet payment methods increased by 29% 
• Big shift to curbside pickup and order delivery in the retail industry
• Purchasing via Smart Phone Mobile Apps for specific stores, restaurants, etc
• Offering online appointment scheduling software on your Mobile App or Website

Prepaid pick-up has increased by 50.7% by April 2021

If you are looking to grow your business in 2021 and beyond to the safety conscious consumers in the market, you need to read and implement these changes to your business! Need help, Merchant Processing Solutions can help you get the tools needed to create an Anywhere Operational Business that understands the concerns of your customer and offers them the ability to purchase from you as they want! 

Call Merchant Processing Solutions 
945-938-2420 

B2B Merchants can save 25% and more on their credit card processing!

B2B MERCHANTS PAY LESS!                     

Let Merchant Processing Solutions help your B2B business get set up properly with a B2B Optimized Merchant Account. This means that Business, Corporate and Government credit cards will be lower than if you processed these through a traditional merchant account. With the B2B Interchange Optimizer App, you can be confident that your merchants qualify for the best possible rates for all purchasing and corporate cards. Our proprietary technology identifies the proper data fields necessary to meet the preferred Interchange categories for all major card brands with no additional prompts or data for your merchants to enter.

Business to Business Sales can cost you less! 

DID YOU KNOW? Purchasing and Corporate cards are eligible for significant savings when processed with optional enhanced Level II and Level III data.

• LEVEL II & LEVEL III - When the B2B Interchange Optimizer App is enabled, our proprietary solution verifies that the additional Level II and Level III transaction data needed for those payments is provided during the authorization, so that your merchants receive the best possible rate.

         

Lower your merchants’ effective rate, while increasing revenue makes Merchant Processing Solutions the perfect merchant services company! The B2B Interchange Optimizer App is available exclusively in the MX™ Merchant Marketplace App Store. 

Contact us today to see how this will work for you and how much your business can save! 

Merchant Processing Solutions Inc!
954-938-2420

How many layers of fees do you pay for Merchant Services?

Acquirers/merchant banks have many layers of fees!  

Acquirers: Acquirers, also known as the acquiring or merchant banks, are financial institutions that maintains where the merchant's account is set up in order for the merchant to accept credit cards. The acquirer settles card transactions into the merchant's account. Sometimes the payment processor and the acquirer are one and the same. 

Fiserv

• First Data
• Wells Fargo Merchant Services 
• Bank of America Merchant Services 
• Citi Merchant Services 
• PNC Merchant Services
• SunTrust Merchant Services
• Intuit – Quickbooks 
• BB&T Merchant Services
• Santander Merchant Services
• M&T Bank
• BBVA Compass
• TD Bank 
• KeyBank
• Citizens Bank
• Deluxe Merchant Services
 

FIS - Fidelity National Information Services 

• WorldPay
• Vantiv

Global Payments

• TSYS
• Heartland
• Cayan
• International Bancard

US Bancorp 

• Elavon
• Sage

These large ACQUIRERS list above own national banks and some of the largest merchant processors in the market today! But as you can see, they have multiple layers to fees with each layer of company! 

Direct Processors work directly with VISA/MasterCard/Discover/American Express
to give merchant fewer fees! 

Direct Processor: The term “direct processor,” refers to any payment processing company that has direct access to Visa and MasterCard's credit networks. There is no middle-man raising costs! 

• Priority Payment Systems > Merchant Processing Solutions Inc.
• ChasePayment Tech
• Merrick Bank
• Paya
• Shift4 Payments
• Clearent
• Gravity Payments
• Redwood Merchant Services
• Integrity Payment Systems
• Newtek Merchant Solutions
• First Hawaiian Bank
• First Citizens Bank
• United Merchant Services
• Commercial Bank of California
• Complete Merchant Solutions
• Paragon Payment Solutions
• North American Payment Solutions

These companies Direct Processors work directly with the Brands (Visa/MasterCard/Discover/American Express) therefore giving you almost no layers of fees! 

Which type of company would YOU like to work with? If you want a DIRECT PROCESSOR that will be transparent, honest and service oriented, call us TODAY!

MERCHANT PROCESSING SOLUTIONS INC.

954-938-2420

Visa implements a FALLBACK ASSESSMENT FEE, WHY?

Use the EMV Chip Reader on your terminals, NOT the Swipe Strip! 

Fallback transaction

Beginning April 1, 2021, Visa will introduced a new High Fallback Transaction Fee if you have fallback transactions greater than 10% of your chip card-eligible processing volume.

What are EMV fallback transactions? EMV fallback transactions occur when an EMV-enabled credit card is used in a chip card reader, but the payment cannot be completed using EMV chip reader. In these instances, the merchant may decide to “fall back” and process the payment by swiping the card through magnetic stripe.

Although we have seen an overall decline in chip fallback transactions, fraud associated with fallback transactions is on the rise. Fraudsters are devising ways to force fallback transactions, usually associated with counterfeit cards. The fraudsters’ methods target the card or the card insertion process with the terminal which are impacted to bypass a chip read and force a magnetic stripe read on a chip capable card at a chip capable terminal. 

Fraudsters' methods to steal purchases from merchant include:

• Card containing a blank chip – No chip read possible

• Card containing a chip with no matching AID (Application Identifier) for the terminal to process – No chip read possible

• Card contains clear tape or coating over the chip – No chip read possible

• Card inserted upside down or backwards into the terminal – No chip read possible

BEST PRACTICE

Monitor Terminal Performance

• Train staff to look for potential fraud issues on the terminal. 
• If your terminal malfunctions and "fallback" to SWIPE or KEY-ENTER transactions, please contact your processor as soon as possible.

BEST PRACTICE

To avoid unnecessary fallback transactions (@ $.10 each), configure the terminal to allow two or three chip read attempts prior to reverting to a magnetic stripe read transaction. This should help address erroneous insertions and partial chip reads to possibly reduce the number fallback transactions originating from your place of business. Call your processor to learn how to set this fallback attempts! 

PROCESSING AN EMV CHIPPED CARD

If you have a cardholder facing terminal/key pad and the cashier notices what appears to be multiple unsuccessful chip reads, instruct the cashier to ask the cardholder for the card and perform the transaction for them. Prior to inserting the card into the terminal, the cashier must review the security features of the card. 

Reviewing the card’s security features include:

• Does the chip appear/feel undamaged and uncovered (no tape or clear coating over it)?
• Are the first four digits of the card number printed under the account number on the card?
• Does the hologram function/display correctly?
• Is there a valid Expiration/Good Thru Date embossed on the card appearing below the account number?

If the card passes the security features review, the cashier should insert the card and attempt a final chip read. If the chip read is unsuccessful, the cashier should follow the prompts on the terminal and conduct a fallback magnetic stripe read transaction (@ $.10 EACH TRANSACTION). If the card does not pass the security features review, for the cashier should request a different form of payment from the cardholder.

If you need better equipment and a company that cares, call us Today! 

Merchant Processing Solutions Inc.
954-938-2420