Oyster cards a new kind of credit cards introduced by Barclays

The oyster cards the unique form of cards has gained popularity from some time. The Oyster card is a form of electronic ticketing used on Transport for London and National Rail services within the Greater London area of England. The card was first issued to the public in 2003 with a limited range of features and there continues to be a phased introduction of further functions. As of March 2006 over 5 million people used the cards.

The oyster cards have nowe been combined with the credit and debit cards for the convience of general public. It is also termed as a new contactless credit card combined with a London transport Oyster card, is to be launched by Barclays. The card is expected to combine standard chip- and – pin technology for credit and payment alongside with that of the oyster card.

The card will allow the customers to pay for low-cost items in shops without the card having to touch a reader or the user having to enter a pin number. The card owners will simply have to wave the card close to the reader and will not need to use either a signature or a 4-digit pin number. It is expected to rolled out in the market by later 2007 to Barclaycard customers, if the trial remains a success.

Security factor in dealing with credit cards

Fraud is common to see in the life of every individual. The forgers are said to be smart enough and tend to move a step ahead to normal person. It is popularly stated that prevention is better than cure. Keeping this statement in mind, it is beneficial to keep safety factors in mind while making any kind of deal.

It has been perceived that International E-commerce is one to have highest risk of frauds. Order rejection and fraud rates have reached to about three times higher than the overall rate. And Cyber Source figures chargeback rates may understate actual fraud rates by as much as 50 percent. Now a days, its no longer safe to trust any company without knowing its standards or without having complete knowledge about a particluar thing.

There is a challenge to maintain the safest standards in order to ensure safe dealing. This situation has lead Merchants to choose card issuers that are employing the latest trends in ID security. Many new points are introduced by the PCI (the payment card industry data security standards) to ensure safe deailing and minimum frauds.

There is a requirement of a clear cut system that ensures cent percent security. This system requires clear procedure for online merchants that is designed to protect the card issuer, the cardholder and the merchant alike. Which will include installation and maintainance of a firewall configuration to protect data and not using vendor-supplied defaults for system passwords, for beginners.

There is need for even the merchants to protect their stored data, encrypt transmission of cardholder information across public networks, use and regularly update anti-virus software, restrict access to sensitive data on a need-to-know basis, and execute a myriad of other mandates.

Now a days, the customers demand full security in every venture. They have become cautious of all the security features and they concentrate on meeting these standards to reduce the fraud risks.

The Hypercom® T7P POS Terminal

The Hypercom® T7P is designed for upgrading authorization-only equipment and for Merchants moving to data captures and debit applications. It features an integrated modular impact or quiet thermal printer.

The T7P can read all types of Credit, debit,check and charge
Cards and an external PIN pad can be attached for supporting cardholder entry of PIN numbers. Dedicated function keys allow one-step operation of everyday processes.

T7P Features

• Takes up less counter space with small footprint.
• 35-key keyboard.
• Delivers fast transactions and authorizations.

Built-in Printer

• Customer quickly receives a fresh printout.

Price/performance benefits of the T7P include savings on user training, reduced telephone line costs and shorter processing and settlement times. The T7P also accommodates new software applications demanded by the marketplace which can be remotely downloaded from a sophisticated Terminal Management System.

The Hypercom T7Plus is a safe choice for merchants wanting a new Credit/debit Card POS terminal. The T7Plus delivers a powerful feature set in an attractive, compact design. It offers low overall cost of ownership thanks to its high reliability, communications capabilities, easy operation and advanced remote software management.

For More Information Click Here

Virtual Point of Sale Solution

Virtual Point of sale is an Internet-based, real time credit card processing solution that enables merchants to process and manage phone-in transactions quickly and easily. Virtual Point of sale terminal lets merchants do away with costly hardware-based POS terminals. Any operator with an Internet connection can have access to the most powerful, flexible and cost-effective payment application available—with no software to install. VPOS is perfect for call centers or any business that processes payments made by phone, fax or email.

Features

Virtual Point of Sale Terminal is more than just a payment processing solution. It is a complete, web-accessible credit card transaction management system. VPOS lets merchants:

• issue credits (partial, full and “blind”)
  
• re-authorize an existing transaction for a new amount
  
• re-bill an older transaction for a new amount without the need for the customer’s credit card number
  
• capture a wide variety of customer data that can be downloaded for data mining purposes
  
• apply fraud screening rules to each transaction
  
• generate a wide range of standard and custom reports
  

Benefits

VPOS allows merchants to process all major credit cards quickly and easily in real time while their customer is on the phone. This means that merchants can:

• dramatically improve customer service
  
• eliminate customer call-backs due to declined cards
  
• reduce payments processing costs
  
• reduce incidences of fraud
  
• increase the speed of payment processing
  

For more , visit here.

Wireless Processing

New wireless credit card processing technology is able to help you improve your business. You can accept credit cards anywhere, anytime with a wireless merchant account. Whether you have a service business that works at your customer's location or if you take your retail business on the road, wireless credit card processing is an easy and cost-effective way to accept credit cards wherever your customers happen to be. Many businesses that use wireless credit card authorization terminals find that they increase sales, save processing time, and reduce operating expenses.

It's getting to be a wireless world. Mobile wireless solutions speed up transaction times using a secure always-on connection. With wireless credit card terminals, merchants use advanced terminal technology that includes both internal wireless service and battery power so neither a phone line or power outlet is necessary to run credit card transactions. Wireless is a fast evolving technology and a sensible choice for many merchants. Its portability is particularly applicable for service industries. Wireless benefits include fast transaction times of around three seconds combined with ultra fast thermal printers to generate customer receipts. Wireless units are qualifying for swiped "card present" transactions at the lowest possible Interchange rates. With instant approval and decline codes, completing secure transactions is quick and easy.

Wireless credit card processing can bring your business a wide host of benefits:

• Customer Appreciation: Your customers will appreciate the ability to pay by credit card - particularly for unanticipated expenses.
  
• Complete More Sales: You'll be able to make sales to customers who want to make an unplanned purchase or who don't have enough cash on hand
  
• Fast Authorization: Wireless credit card terminals can take just two to five second to complete compared to 15 to 20 seconds for dial-up POS terminals. That means you'll be able to complete your sales in less time.
  
• Increased security: Wireless credit card terminals increase security for you and your staff by reducing the amount of cash you and your staff handle and hold during a typical business day.
  

Wireless possibilities are a flexible, lightweight, handheld terminal that enables fast, secure, error-free transactions for on-the-go merchants. Some of these even support multi-applications including credit, debit, T&E, EBT, smart cards, prepaid, loyalty, gift & proprietary cards - as well as business management solutions such as inventory control, dispatch, and delivery.

For more , visit here.

The Key to Increasing Your Customer Base: Accept Credit Cards

Credit cards have been tagged as plastic money because they have become accepted as a good alternative to actual cash. A lot of people actually prefer real world establishments who accept credit cards. The same principle applies in online transactions. People would look for eCommerce sites that accept credit cards, particularly those that accept credit cards which they own.

Whether you’re selling digital products or tangible goods through online channels, your business should be able to accept credit cards to ensure the widest customer base possible. Being able to accept credit cards makes your online business more accessible to a greater number of potential clients and customers.Additionally, by building an online enterprise that could accept credit cards, you will be able to secure payment in a more convenient and safe manner. If your online business would accept credit cards from paying customers, you’d be empowering them to spend for your products.

Merchant-accounts allow credit card processing therefore to accept credit cards the first step is to get a merchant account from a reliable merchant account provider. To accept credit cards online either you have your own merchant account or you use the online credit card accepting facility of a third party. The initial set up fee of merchant account is higher than the third party account. But the transaction fees of the third party accounts are very high. It is therefore advisable to try the third party account initially and later have your own merchant account.

Businesses that accept credit cards should ensure the following things:

• A business that would accept credit cards should make sure that its payment processing page is embedded with Secure Socket Layers (SSL) of at least 128 bit.
  
• A business that would accept credit cards should also make sure that such SSL encryption appears on the lower right side of the user’s browser window, in the form of a lock icon.
  
• A business that would accept credit cards should establish a responsive customer support system that would answer the needs of your clients when it comes to transactions involving the acceptance of credit cards.
  

Allowing your online business to accept credit cards could only expand your customer base and provide good profits for you for many years to come.

For more , visit here.

COMSTAR WIRELESS CREDIT CARD PROCESSING SOLUTION

Comstar , a wireless credit card processing solution, an easy-to-use, complete point-of-sale (POS) service that is feature-laden yet affordable. The scalable solution allows businesses to securely make transactions in the field and to manage them on-line, in real-time.

CHARGE ANYwhere combines a compact card swipe device with an innovative, customizable Web-based transaction database and reporting system and other features in one low-cost package. It gives businesses a robust and economical way to securely execute, authorize and manage wireless credit card payments ...

CHARGE ANYwhere also includes check authorization and two-way messaging as standard features, and is compatible with certain dispatching applications to create a truly multi-functional solution for any business that conducts transactions in a mobile environment. These include taxi and limousine companies, emergency service operations.

The Comstar CHARGE ANYwhere® is versatile, user-friendly and fits in the palm of your hand. The Comstar CHARGE ANYwhere® wireless terminal combines a compact card swipe device with a state-of-the-art, Web-based transaction database and reporting system. This terminal is the ultimate wireless solution to securely execute, authorize and manage payments by credit card in real-time.

The ability to credit card processing from any location with wireless equipment is now available to businesses of all sizes. With the Comstar CHARGE ANYwhere®, accept credit cards wirelessly from the point of transaction while accelerating the sales process, improving efficiency and reducing paperwork.

For more , visit here.

Internet Merchant Accounts and Credit Card Processing

At one point in time, getting setup to accept transactions electronically was a tedious and time-consuming process, a task that required more costs and resources than most businesses had at the time. In fact, if you ask most merchants that have an online store, setting up the internet processing account was a tough process, and the discount rate to accept credit cards was much more costly to the business. When you add the (high) discount rate, the added transaction (gateway) fees, the added monthly fees, and the high possibility of fraud and chargebacks, it usually costs a merchant 4-5% per transaction to sell products online.

An internet merchant account is a partnership with a credit card processing company that enables you to process and accept credit cards and checks over the internet. Ecommerce websites rely heavily on these methods of payment because of their convenience and speed. Consumers have come to use credit and debit cards as a primary method of purchasing, so if a business does not accept and process credit cards, the consumer is likely to buy from someone else who does. For this reason, and the ease of use and other benefits of ecommerce, businesses are advised to set up internet merchant accounts.

Credit is a major form of payment for goods and services because it is easy to use, and with an internet merchant account ecommerce credit is just as simple. Internet merchant accounts allow online businesses access to the simplest and fastest forms of payment available.

Internet Credit Card Processing requires more security and agressive fraud controls than retail credit card processing because the credit card cannot be verified by swiping the credit card like you do with a retail merchant account. For this reason it's very important to deal with a company that specializes in internet transactions and Internet Merchant Accounts.

An Internet Merchant Account does not require a shopper's signature and has requirements beyond a typical card-not-present or retail merchant account. If you already have a merchant account, you should verify that the merchant account supports credit card payments over the Internet.

For more , visit here.

Magtek Mini Card Reader

The Mini MICR credit card Reader is designed as a low cost solution for reading and verifying checks and credit cards. It is available with a 2 or 3-track card reader. The 3-track reader is used to read magnetic stripe driver licenses and is ideal for instantly capturing valuable customer demographic information and driver license data for check verification.

This new Mini MICR for credit card processing is ideal for situations not needing multiple interfaces or peripheral ports which Mag-Tek's MICR Plus provides. "This is the lowest priced check reader/card reader combination available," said Mag-Tek executive vice president Lou Struett. "The optional 3-track reader used to read driver licenses is available for as little as $25 per unit. It is a tremendous option at a very little cost."

Mag-Tek Inc. (http://www.magtek.com/) is an international leading provider of card technology solutions for retailers, financial institutions and OEMs. Since 1972, its headquarters have been in Carson with sales offices throughout the United States and international distribution in more than 40 countries.

Specs

• New USB 1.1 Interface
  
• Small footprint, low cost check reader with high accuracy and dependability
  
• Reads MICR characters on checks, deposit, withdrawal slips and other MICR encoded documents
  
• Optional 3-track MSR (Magnetic Stripe Reader) for ISO and AAMVA card standards
  
• Interfaces available include USB, RS-232 and PC Keyboard Wedge. Other interfaces available
  
• Reads E13-B and CMC-7 MICR fonts
  

For more information, visit Credit Card Processing and Merchant Services Provider.

NURIT 8320 Payment Processing Systems

The NURIT 8320 credit card terminal is the ideal all-in-one solution. The compact and flexible NURIT 8320 was designed for the many small and medium-sized businesses that require and all-in-one landline terminal that is completely secure, reliable and easy-to-handle. This high performance, multifunction POS incorporates a secure internal PIN pad, high-speed modem, and quiet, fast thermal printer, as well as magnetic card swipe and Smart Card reader. Powerful processing capabilities support a multi-application environment, enabling the use of a variety of applications, including EMV credit and debit; loyalty, gift, and proprietary cards, checks and EFT; and prepaid phone cards.

Speed and Versatility

• Optional Ethernet (10 Mbps. speed)
  
• 32-bit ARM 7 Processer.
  
• Multi language font support.
  
• Various memory options.
  

Professional

• Meets Visa® and MasterCard® security requirements
  
• Magnetic card swipe and Smart Card reader.
  
• Built in modem.
  
• Built in Smart Card reader.
  
• Battery status monitor.
  

The Nurit 8320 is an upgrade from the Nurit 3020. Built on the time-tested, reliable Nurit 2085 platform, the Nurit 8320 offers a compact terminal with a built in thermal printer and pinpad for pin-debit transactions. The Nurit 8320 is the most advanced land-line terminal available from Lipman. The Nurit 8320 will accept an external pinpad, check reader, or smart card reader and like its predecessor can handle up to 11 merchant accounts on a single terminal. The Nurit 8320 is sure to be another best selling terminal from Lipman.

For more , visit here.

The VeriFone® TRANZ® 380 Credit Card Terminal

The VeriFone® TRANZ® 380 Credit Card Terminal handles the complex business applications you need to differentiate your services in today's competitive market. With TRANZ 380, you can expand the range of services you offer. It handles sophisticated applications that help you manage your business better. And it lets you accept debit (ATM) cards in payment for goods or services.The Verifone Tranz 380 also offers you the ability to take debit cards with the addition of a Verifone PIN Pad.

The Verifone Tranz 380 steps up from 32k of RAM (in the Tranz 330) to a more powerful 128k RAM. This larger memory supports more sophisticated applications such as AVS (Address Verification System, used for phone and mail orders). The extended memory of the Verifone Tranz 380 also allows you to store more transactions in the terminal memory before having to batch out, making it ideal for merchants who anticipate a high amount of credit card volume.
With TRANZ 380, you can expand the range of services you offer. It handles sophisticated applications that help you manage your business better. And it lets you accept debit (ATM) cards in payment for goods or services.

What's more, TRANZ 380 system can store more transactions than many competing systems. And, with a TRANZ 380, you can connect a slip printer or roll printer and a PIN pad or bar code wand to expand your transaction capabilities. TRANZ 380 supports most TRANZ 330 applications. Plus, you can quickly add, update or create new applications using the VeriFone terminal control language (TCL™) designed specially for transaction processing.

Merchant Conveniences

• Collects information from track 1 and track 2 of a magnetic-striped card in a single swipe.
  
• Prompts you through each step of a typical transaction with concise messages on an easy-to-read display.
  

Secure

• Includes security and fraud control features often required in bankcard environments.
  
• Stores invalid card information for fast offline authorization.
  
• Stores more transactions before you need to make a settlement.
  

For more , visit Credit Card Processing and Merchant Services Provider.