NON-SWIPED MERCHANT
Non-swiped merchant accounts are those which anticipate that a credit card number will be manually key in because the credit card is not present, off-premise sales, pre-authorized transactions, or mail / telephone orders and internet and home businesses. In these cases, if the credit card cannot be swiped and it is processed at a higher rate than swiped transactions, due to the higher risk factors.
The mail and the Internet are major routes for fraud against merchants who sell and ship products, and impacts legitimate mail order and Internet merchants. If the card is not physically present – called CNP or card not present – the merchant must rely on the holder (or someone purporting to be so) presenting the information indirectly, whether by mail, telephone or over the Internet. While there are safeguards to this, it is still more risky than presenting in person, and indeed card issuers tend to charge a greater transaction rate for CNP, because of the greater risk. To many people's surprise, telephone ordering is the most risky, far more risky than the Internet.
NDMS Virtual terminals
Virtual terminal are web-based secure forms that enable credit card orders to be entered by a merchant with access to the Internet. It is designed for use by any business that accepts credit cards. The virtual terminal, like a countertop swipe terminal, provides instant feedback regarding the status of a customer’s credit card and that dramatically improves customer service.
The virtual credit card terminals are some of the safest, browser-based interface that allows you to authorize, process, and manage all your credit card transactions, using any computer with an Internet connection. You do not need any physical credit card terminal.
As they reduce the complexity and expenses, the virtual credit card terminals are suitable for businesses of all sizes. They are commonly used in utility companies, mail order businesses, call center operations, newspapers and magazines, insurance companies, charities, home based and small business internet service companies. With virtual credit card terminals, you can manually enter all credit card transactions for mail or phone sales, refund money to a customer’s credit card, automatically bill customers for recurring charges, check the status of transactions, run a variety of reports, and capture previously authorized transactions from any internet connected computer anywhere.
Other features of the virtual credit card terminals include address verification service, customer and merchant email notifications, recurring payments, and detailed reporting capabilities. Automatic item sub-total calculation, credit card swipe card option, automatic tax calculation, automatic shipping calculation, item discount calculator, billing and shipping data fields, and coupon or rebate calculator are all added features of virtual credit card terminals.
Recurring Payments
Today, many businesses as well as consumers are looking for ways to make paying bills more convenient and chances are many of them are your customers. Recurring payments can give them the convenience they want. Payment amounts can be fixed or fluctuate and payment agreements can exist indefinitely, providing the easiest way to ensure timely payment. This also brings a host of benefits for you, including a significant competitive advantage.
Benefits to Merchants
- Satisfy demand for payment card options
- Reduce payment-related customer service calls
- Improve cash flow and reduce exposure to lost payments and bad checks
- Reduce delinquencies
- Improve collections
- Increase customer retention
Benefits to Cardholders
- Convenience of setting up account payments once
- Time savings from writing fewer checks
- Relief from stress, knowing bills are paid on time
- Cost savings on postage
- Earning points/frequent flyer miles in eligible rewards programs
