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Unlocking the Secrets of Credit Card Processing ;

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

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

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

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?

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

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

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

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

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

    • 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.

    • 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)

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

    • 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.

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

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

SURCHARGE GUIDE LINES

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QUESTIONS

We look forward to working with you. Thank you!

Proud Sponsor of the Carolina PGA Section