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Unlocking the Secrets of Credit Card Processing ;

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How To Lower Overhead & Increase Profits

Presented By GolfProPayments

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Mission

Motto

Company History

Andrew Reeves ,PGA

President & Co-Founder

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Past Employment

Experiences

Background

Wes Foskey ,PGA

National Account Manager

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Unlocking the Secrets of Credit Card Processing

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    • Visa & MasterCard Background
    • Transaction Flow
    • Credit Card Rates
    • Software compatibility
    • PCI Compliance
    • Security
    • Statement Reviews
    • Surcharging

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Topics We'll Cover

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    • Trade association just like PGA
    • Member banks choose to issue or acquire credit cards
    • Acquiring banks set interchange & assessments – 100+ Distinct Rates
    • 1000’s Of ISO’s (Independent Service Organizations) resell bank card processing

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Visa & Mastercard

History

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CARD IS PROCESSED

    • Terminal - Card Present
    • Manual - Card Not Present
    • E-commerce - Card Not Present

DATA IS ROUTED

    • Through certified payment gateway

ISSUING BANK APPROVES TRANSACTION

    • Funds transactions in nightly batch

TRANSACTION FLOW

ISSUING BANK PLACES CHARGE

    • Customers account

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QUESTIONS

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COMMON QUESTIONS?

Can I look at a credit card and tell how much it will cost me to accept It?

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Why are my food and beverage rates different than my pro shop?

Why does every course and golf retailer pay different rates?

Am I required to process through my bank, because I have a loan with them?

If I manually enter a credit card through my computer keyboard, is it secure?

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WHICH CARD WOULD COST YOU MORE TO ACCEPT?

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Credit Card Rates

BASE RATES ARE SET ON RISK

    • SIC Codes
    • Data transmitted/validated
    • Origin of Transaction - Terminal, Web, Swipe, Keyed

BASE RATES ARE SET ON TYPE OF CARD

    • Rewards
    • Business Vs. Consumer
    • Debit Vs Credit

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Software Companies Integrate To Multiple Gateway’s

    • Elavon - Transvault
    • Worldpay - Tripos/element
    • TSYS - Cayan
    • Fiserv - Bluepay/Cardpointe
    • Shift4 - Dollars on the net

Gateway’s Integrate With Multiple Processor’s

    • ETS (Elavon)
    • Fiserv (First Data)
    • Paymentech
    • WorldPay
    • TSYS

SOFTWARE COMPATIBILITY

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A tying arrangement occurs when, through a contractual or technological requirement, a seller conditions the sale or lease of one product or service on the customer's agreement to take a second product or service

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https://www.justice.gov/atr/chapter-5-antitrust-issues-tying-and-bundling

ANTITRUST LAWS:

TYING AND BUNDLING

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SOFTWARE PCI COMPLIANCE

    • Credit card hacking and fraud is the largest theft in financial services

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    • PCI stands for “Payment Card Industry Data Security Standard”

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    • All software companies are required to be PCI Certified to a PCI Certified Gateway

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    • All businesses who accept credit cards must certify that they are out of scope of PCI

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    • Visa & MasterCard can assess fines of $1,500 per transaction to businesses for being in scope

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Security Statistics

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Payment Security

    • EMV (EuroPay MasterCard Visa)
      • Why are banks switching to issuing EMV enabled cards?
      • What happens if businesses swipe cards that have the EMV technology in them?
    • Point to Point Encryption (P2PE)
      • Computer Keyboard VS Shred Key
    • Tokenization
      • Card On File

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QUESTIONS

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Keys To Your Statement

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    • Surcharges cannot be applied to transactions when the cardholder is paying with a Signature Debit, PIN Debit, Pin less Debit, or Prepaid card.

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    • Surcharges cannot be applied to card-not-present e-commerce, mail, telephone, and recurring transactions when the cardholder's postal code matches a restricted region. For these transactions, the merchant must provide the cardholder's postal code to validate the cardholder's eligibility. If the postal code matches a restricted region, the surcharge will not be applied. (MA & CT)

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    • The Surcharge Rate of 3.5% should be post-tax amount on the transaction .

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    • The Surcharge Rate cannot vary at the transaction level. The Surcharge Rate of 3.5% is set for the merchant account, and automatically applied to applicable transactions.

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    • The Surcharge Rate cannot be applied to partial authorizations. Partial authorizations are automatically disabled on surcharge-eligible transactions.

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    • No laws currently prohibiting Surcharging in North Carolina and South Carolina

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SURCHARGE GUIDE LINES

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QUESTIONS

We look forward to working with you. Thank you!

Proud Sponsor of the Carolina PGA Section