Giving your customers more payment options
Posted on in Business News
Customers now have more options when it comes to making payments, thanks to technological advances.
To keep up with the ever evolving marketplace, the way you accept payments will change. In response to this, ActSmart's card processing partner Global Payments have upgraded terminal software and introduced new procedures which will impact on retailers. If you are currently a Global Payments user you will shortly be receiving more information on all of the updates below.
Contactless Terminals
From the 1st January 2016 Visa has ruled any new terminal must support contactless payments. Current terminals you are renting will not yet need to be replaced with contactless ones.
High Value Payments
As a result of new payment technologies such as Apple pay and other Near Field Communication (NFC) payments, businesses that accept Contactless will also need to enable High Value Payments on their terminals (contactless payments that are greater than £30).
Balance Responses
If you currently rent a terminal from Global Payments, you will automatically be given access to the facility to print a pre-paid cardholder's balance on their receipt, allowing them to track their balances more easily.
MC 2 Series BINS
MasterCard have announced that a new series of Bank Identification Numbers (BINs) that begin with "2" will be introduced from October 2016.
Partial Approvals
Transactions on a pre-paid card that doesn't have enough funds on will now not be automatically declined, the customer will be given the option to make up the balance with another payment method.
Vpay
VISA have announced that all e-commerce stores should now display the VPay acceptance mark alongside existing VISA brand marks.
If you have any queries regarding these change please contact Global Payments on 0345 702 3344.
Not with Global Payments?
Over 500 outlets are using ActSmart's exclusive package with Global Payments,
generating over 1 million card transactions annually, worth over £200m.
Our market knowledge combined with significant negotiating power and long-term relationship with Global Payments enables us to ensure we continue to give our subscribers the best possible rates available.
Every Gold and Platinum subscriber has access to our lowest ever rates, paying no more than 1% headline rates on all transactions - no matter what your turnover.
Call Global Payments to get a free quote on 0800 731 8921 or request a call back using the button below.