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RETAILER CARD PAYMENT FAQ 1. What does need your business in card payment processing? The usage of all type of cards is increasing in a year per year basic, this growing number of transactions with a store or bank card generate the necessity of integrate the card payment into the Point of Sale application. 2. What means integration of the card payment with the Point of Sale? Widely use by the large retailers, the integration of the card payment means the capability of the POS application to process card payments, using a fast printer, normally the same used for the ticket printing. 3. Which are the advantages of the payment integration? The most important increase the speed of the payment, a normal payment transaction last for two seconds. The lack of error on the transaction amount. The no requirement of reconciliations between bank card statements. The capability to work with different banks improving the financial agreements. 4. Which are the differences between an integrated solution and a countertop bank terminal? A countertop terminal in most of the market is supplied by the bank or a card processor, in most of the market the POS is supplied by the bank without cost, and integrated solution requires and investment and management investment by the retailer. An integrated solution is always more expensive compared to a bank supplied solution. 5. It is profitable an integrated solution? There are qualitative and quantitative advantages in an integrated solution. If your store makes a high number of transactions your initial investment will be amortized in less than six months due to the savings in administrative and clerk time, regardless of your bank merchant fees negotiation. If your store makes a low number of transactions, the investment need to be executed in base to the requirement of service desired to offer to your customer, if you want to increase the customer satisfaction a payment integration solution is a must. 6. Businesses where payment integration should be a must over the next twelve months? There are some economy sectors where payment integration is clearly required Hotels Convenience Stores Fast Food Hospitality Healthcare Petrol Station Government Agencies Consumer Electronics There are sector where advanced retailers as well as brand retail chains will integrated their card payments: Fashion shops Travel agencies Rent a car Tourist oriented shops. 7. What is the influence of SEPA and EMV on the payment integration solution market? EMV is the standard issued by the banks to improve the security of the cards, SEPA is an initiative of the EU to create a common market for payment across Europe including checks, money transfer, direct debit and cards. EMV is the standard adopted by SEPA. In few years SEPA regulation will allow a retailers working in different countries across Europe (including non EU countries) to use the same system. EMV has increase the difficulty of developing a software solution and create great challenges in the near future. 8. Which are the differences of RT Net-IPos payment solutions for retailers? The most important differences of RT Net-IPos are more advances functionalities and investment protection; we are able to achieve those levels because we are the only hardware independent software vendor which design and develop all the software components on the solution, including PIN PAD software. |
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