Hypercom Equinox Credit Card Terminal Problems

Recently, Hypercom or Equinox credit card terminals have come to their EOL or end of life, due to firmware needing to be updated, when possible.  The firmware version is no longer able to allow processing.  If the Hypercom  Equinox credit card terminal will allow for a firmware update and it takes the update, one is in the clear.  The terminal typically stops processing after a restart or power cycle.  If one receives an error it may say something like, “Security Error” or “CA signing expiration in 0 days call for service”.  Call you processor immediately to see if the firmware can be updated.  Holds times have been lengthy for all processors, as this firmware/EOL affects all providers of credit card processing.

If one has a hypercom or equinox credit card terminal, please consider upgrading to an EMV machine, unless you are a hotel/motel with a folio processing file “check in/check out”.

EMV is more secure than magnetic stripe processing, provides fraud protection for the merchant, and allows for additional forms of payments to be accepted, such as Apple pay.


If you are considering upgrading to EMV, you may consider contacting us at DonUp.  We have been using the EMV credit card terminals since 1/1/2013 and have gathered valuable experience that we can pass along to help avoid any pitfalls for your business.  We have the right EMV credit card terminal solution for your business, whether you are a retail business or a restaurant.  Give us a call at 877.651.1655 and we will help discover what EMV solution is best for your business.

Protect Your Business from Retail Fraud- EMV

Fraud losses totaled $5.2 billion in the US or 7% of transactions according to a CNBC article from July 2015.  There is a proven way to help stop most of this fraud, EMV.  EMV stands for Euro, Mastercard, Visa and was the organization formed in Europe to bring EMV to Europe.  The organization includes all major card brands, today, and it is called EMVCO.

EMV Contactless Card on Ingenico 1CT

What is EMV?  Emv is a chip in credit cards.  That chip, instead of the magnetic strip on the back of cards, is used to communicate with the host to generate authorizations for sales.  The chip uses dynamic numbers to communicate with the expecting host.  If the dynamic number is different than the host expects, the transaction is declined.  It is a much more secure way to process transactions verses the magnetic stripe.

How does it help business owners?  In a retail environment, where cards are presented in a face to face environment, there is a liability switch happening and the deadline is October 1st, 2015.  Generally speaking, if the business has an EMV enabled device and accepts EMV payments, they have zero liability for in person or face to face transactions for reasons including, fraud, lost, stolen, non-activated.

Reasons for upgrading to EMV:

  1. Liability switch, 10/1/15- SAVE on Fraud
  2. More secure transactions
  3. Ability to add new forms of payment, such as NFC (Apple Pay)
  4. Reduction of PCI compliance requirements

The rush has been on to upgrade to EMV.  With the liability switch deadline October 1st, 2015, we have been extremely busy helping businesses understand their options for EMV and additional forms of payment.  We have excellent rates, that save you more money with our exclusive RATE LOCK and our equipment is protected by our Infinite Warranty.  Donup has been working with EMV terminals since January 2013.  Put our EMV expertise to work for your business and get peace of mind for your payment processing.  Give us a call today, 877.651.1655.

Jeremy Ochsner, ETA-CPP

Upgrade to an EMV Credit Card Terminal and get $100 Back

Upgrade to an EMV credit card terminal before 4/30/15 and you are eligible for a $100 rebate.  EMV credit card terminals are more secure and process a variety of payment methods, including EMV or chip enabled cards, NFC (Apple Pay), magstripe cards, and pin entry cards.

EMV is already here.  EMV chipped credit cards have been in Europe and Canada and other parts of the world for years now.  EMV enabled cards have been issued in small amounts here in the US.  However, that will pick up dramatically, when in October 2015, there is a liability switch happening.   The major card brands will reward whomever has the EMV technology by moving liability to the party who has less or has not invested in EMV on card-present transaction.  If both parties have the same technology, then the liability is the same as it is today.  Go to: http://www.emv-connection.com/emv-migration-driven-by-payment-brand-milestones/ for more information on EMV and the liability changes in October.

Protect your business with the newest EMV credit Card terminal and receive $100 back.  You must act quickly.

EMV Credit Card Terminal DonUp

Verifone Vx 520 EMV Credit Card Terminal

EMV Contactless Card on Ingenico 1CT

Ingenico EMV Credit Card Terminal










Here’s how it works:

#1  Purchase an EMV terminal

#2  Obtain your American Express account number from your processor or call 800-480-1222 to get the access code

#3  Go to this link: https://www209.americanexpress.com/merchant/services/en_US/landingPage?va=us-mer-fightfraud-EMV

#4  Enter the information

#5 Upload a photo of the sticker on the bottom of the EMV credit card terminal

Your rebate will show up soon.

Get more secure, fight fraud, and get $100 back with a new EMV credit card terminal and if you buy from DonUp, your EMV credit card terminal has our Infinite Warranty.

NFC on the new iPhone 6 & 6 Plus + Apple’s Mobile Wallet Apple Pay

Apple takes NFC mainstream on iPhone 6; Apple Watch with Apple Pay

Apple will help consumers say buh-bye to plastic credit cards with the NFC-enabled iPhone 6, iPhone 6 Plus, and Apple Watch using its new mobile payment service Apple Pay.

Apple introduced its NFC-based mobile payment system Apple Pay for the iPhone 6.

Apple wants to turn your iPhone 6 and Apple Watch into a virtual wallet that could eventually replace the old plastic card sitting in your real wallet.

Apple announced Tuesday at its September 9, product launch in Cupertino, Calif., that it is finally joining the ranks of companies, such as Google, that have tried with lackluster success to get consumers to buy things with their phones, by introducing its own mobile payment offering.

After years of speculation, the company is finally including the short-range wireless technology known as near field communications or NFC into its latest smartphone, the iPhone 6 and the bigger iPhone 6 Plus. It also announced a new digital wallet called Apple Pay, which can be accessed securely using its fingerprint Touch ID technology introduced in the iPhone 5S.

Apple’s new Apple Watch will also be equipped with NFC, which will enable older generations of the iPhone, specifically the iPhone 5, iPhone 5s and iPhone 5c to work with Apple Pay.

Apple announced Tuesday it’s partnering with Visa, Mastercard, and American Express along with several issuing banks to allow iPhone users to store their credit card accounts. Apple Pay will be available in 220,000 US merchant locations that already take mobile payments via the NFC’s short range, secure wireless capabilities.

Apple has also worked with other retailers, including Macy’s, Walgreens, Duane Reade, Staples, Subway, McDonald’s, Disney, and Whole Foods, among others to bring Apple Pay to physical store locations. At McDonald’s it’s even adding Apple Pay to the drive-through, Eddy Cue, senior vice president of Internet software and services, said during the presentation. Disney is expected to have all of its retail locations outfitted with Apple Pay by Christmas.

Apple’s Cue also said that Apple Pay will be integrated with several apps including, the car service Uber, a food app from Panera, Major League Baseball’s app, which will allow you to order tickets from your phone, and Open Table, which will allow you to pay your bill from your iPhone 6 or iPhone 6 Plus. Apple will also be making an API available in iOS 8 to allow other app developers to integrate Apple Pay into their applications.

Users will be able to fund the Apple Pay mobile wallet using the credit cards and debit cards they already have on file in iTunes. To add additional cards, users can take a photo with the phone, go to bank to verify that it’s your card, and it’s added right to Passbook, Cue said.


Mobile Payments

Mobile payments, or paying for things using a mobile phone or a mobile app, is a natural progression for Apple, as the company expands its business beyond the traditional smartphone and tablet market into new areas. Apple already stores credit card account information for 800 million customers to allow them to easily buy digital music, books, TV shows, movies and apps via its iTunes store. Expanding this payment process into a digital wallet, which virtually stores these credentials and can be accessed to buy physical goods, can be viewed as an extension of this capability.

Apple CEO Tim Cook said during the presentation that Apple’s vision is to replace a wallet, and more specifically to replace antiquated, plastic credit cards. Cook noted that there are more than 200 million credit card and debit card transactions processed per day in the U.S. with consumers spending more than $12 billion every day between credit cards and debit cards.

“That’s over $4 trillion a year,” he said. “And that’s just in the US.”

He went on to explain: “This whole (payment) process is based on this little piece of plastic,” he said. “We’re totally reliant on the exposed numbers and the outdated and vulnerable magnetic stripe interface, which is five decades old.”

Apple hinted at a mobile payment solution earlier this year. On an earnings call with analysts in January, Apple CEO Tim Cook said he was intrigued by the idea of a mobile payment service using Apple’s Touch ID feature as part of the implementation to secure access to the credit card information.

“Apple isn’t trying to get rid of credit cards entirely,” said Jason Oxman, CEO of the Electronics Transaction Association “But what they are are trying to do is disrupt is the plastic credit card with that magnetic strip. Using NFC tied to your iTunes account, you can simply pay by tapping your device.”

How it will work

The way Apple Pay will work is that users will be able to simply tap their devices outfitted with a small NFC chip that stores its payment credentials on a payment terminal in the checkout aisle at a number of different merchants. This will allow the store to access the customer’s credit card payment credentials so the credit card account can be charged.

When iPhone 6, iPhone 6 Plus and Apple Watch users make a payment, these credit card accounts will be charged, just as a credit card account is charged when someone makes a purchase in Apple’s iTunes music store. Following an already emerging trend in the payments industry, Apple will be using what’s known as tokenization technology to add another level of security to the transaction.

The way tokens work is that they replace the static 16-digit card numbers that appear on the front of a credit card and indicate a customer’s account number with a dynamically changing and complex code that is transmitted between devices to identify accounts. The benefit of using tokens is that even if they are intercepted by a fraudster, they are rendered useless in the next transaction, because they are constantly changing.

It’s not surprising that Apple would see potential not just in payments but in the mobile payments market specifically. According to Gartner, the global market for mobile payments is forecast to be about $720 billion worth of transactions by 2017. This is up from about $235 billion last year.

Still, other big companies, such as Google and three of the four major wireless operators in the US, have launched mobile payment services using the hardware-based NFC solution that have seen mediocre success at best.

Google was first to market three years ago with its Google Wallet service, which also uses NFC-enabled handsets to securely transmit credit card information between the device and a point of sale terminal in the check-out line of a retailer. The idea behind Google Wallet was to not only store credit cards but also store loyalty cards and coupons as well as leverage location information to send offers and promotions to customers. While the idea itself sounded great, a year after launch Google Wallet only worked with one credit card and bank combination. And it was only available on one wireless network: Sprint.

Meanwhile, three of the four major US wireless carriers — Verizon Wireless, AT&T, and T-Mobile — formed a joint venture to offer a similar kind of NFC-powered mobile-payment service. After a year-long trial period, the service, named Isis, launched across the nation in November with help from high-profile partners such as Coke and Jamba Juice, which offered freebies for early adopters. In July, Isis had to go dark to change its name, which too closely resembled the terrorist group Islamic State of Iraq and Syria, also known as ISIS. It’s now known as Softcard.

The mobile payment solutions offered both by Google and the wireless carriers has been stymied by a few issues. For one, the NFC technology used to enable Google Wallet and Softcard must be available on the mobile device as well as at the point of sale terminal used at the merchant. And second, in order to even store these credentials on phones, the companies enabling the wallets needed to have arrangements with credit card companies and banks.

For Google, the hurdles were difficult to get around since it does not manufacture its own devices. This meant it not only needed to convince merchants to upgrade their terminals, but it had to get device makers to include the NFC technology in the devices. This wasn’t so hard given that companies like Samsung saw other uses for NFC. But even when handset makers included the NFC chip on their devices, it was up to the wireless carriers whether that functionality would be enabled. And AT&T, Verizon, and T-Mobile shut out the Google Wallet functionality.

As a result, Google shifted gears and revamped the service, turning it into a cloud-based app that stores credit card and loyalty card credentials in a secure Internet based service rather than on the device itself. Google Wallet still uses the NFC tap-and-pay functionality to access the cloud-based credentials, but because the information is stored remotely it also means that Google Wallet users can also access it through other password-secured Google services, such as Gmail.

Apple: In a class all its own

Just because other companies have failed to make a splash with mobile payments doesn’t mean that Apple will meet the same fate. Apple’s strength has historically been taking technologies that have been invented and used by other companies and refining them. The company then packages those technologies in such a way that the service is easy to use and appealing to millions of users.

“Apple didn’t invent the smartphone or the tablet,” Oxman said. “They weren’t the first to offer mobile apps. But they raised consumer awareness of these products and services and they packaged it better than anyone else.”

Apple’s golden touch could do the same for mobile payments and the beleaguered NFC technology that Apple will use to deploy the service. For one, Apple is using its existing base of iTunes accounts to allow people to fund their “wallets” using any credit card. This is a huge advantage since that was a major stumbling block for Google as well as the wireless operators.

“Consumers that have used NFC mobile payments have liked it,” said Randy Vanderhoof, executive director of the Smart Card Alliance. “But they haven’t liked not being able to use any payment card they want in their mobile wallet. Apple’s wallet overcomes this challenge by letting consumers’ use the card of their choice through their iTunes account. It’s a smart move and a big win for NFC.”

Apple is also launching this new service at just the right time. In addition to getting consumers to buy devices that are NFC-enabled and making sure that they can access the service and link it to any credit card, another important piece of the puzzle is ensuring that merchants have the right equipment at check-out to accept the payment.

Apple may have chosen to launch its solution now since the payments industry is in the middle of a major transition to upgrade merchants’ point-of-sale machines, so that they can accept the more secure token-based EMV (Europay, MasterCard and Visa) chip technology. Credit cards that use the EMV chip technology have an embedded microchip in them that the scanner reads instead of a magnetic strip. It’s this chip that generates the unique tokens that are used to route transactions instead of static account numbers that are offered in the older magnetic strip cards that most US consumers currently use.

The move to EMV requires that merchants replace their point of sale terminals. In an effort to speed the process, the payments industry has put a deadline of October 2015 for this upgrade.

“From an acceptance perspective, the timing is really good for merchants,” Vanderhoof said. “Many are already looking to install new POS terminals to accept EMV chip cards, so they can also look at enabling NFC acceptance at the same time. Both features are available on most POS terminals shipped today.”

New life for NFC

The fact that Apple is using NFC to enable mobile payments, instead of another technology, could give mobile payments a big boost, analysts say. The company has a massive user base of iPhone users as well as the 800 million credit card account numbers stored in iTunes. It has also quietly built the foundation to its mobile-payment service in Passbook, an app introduced two years ago in its iOS software and released as a feature with the iPhone 4S. Passbook has so far served as a repository for airline tickets, membership cards, and credit card statements. While it started out with just a handful of compatible apps, Passbook works with apps from Delta, Starbucks, Fandango, The Home Depot, and more. But it could potentially be more powerful.

And the iPhone’s fingerprint sensor, which Apple obtained through its acquisition of Authentec in 2012, could serve as a quick and secure way of verifying purchases, not just through online purchases, but large transactions made at big-box retailers such as Best Buy. Today, you can use the fingerprint sensor to quickly buy content from Apple’s iTunes, App, and iBooks stores.

“No one can change consumer behavior like Apple,” Vanderhoof said. “This move will make the market for mobile payments explode. And it is a great endorsement of NFC technology as the best way to secure mobile payments.”


Read More: http://www.cnet.com/news/apple-adds-nfc-to-iphone-6-with-applepay/

EMV Credit Card Terminals Great for Verifone

It’s a good time to be a point-of-sale terminal maker when all of your customers have to go through the payments equivalent of abandoning the horse and buggy and jumping into an automobile. With a major U.S. deadline for converting from magnetic-stripe payment cards to the Europay-MasterCard-Visa (EMV) chip card standard now just 13 months away, POS payment technology provider VeriFone Systems Inc. on Thursday reported that sales of its chip-card-reading equipment are brisk.

EMV Credit Card Terminal DonUp

vx 520 EMV Credit Card Terminal

“EMV migration continues to drive sales for VeriFone,” VeriFone chief executive Paul Galant said during the company’s earnings conference call for fiscal 2014’s third quarter ended July 31. Some 14 large retailers upgraded their payment systems to VeriFone’s EMV-capable MX 900 line of terminals, he said, including one global retailer that ordered 40,000 units. VeriFone wouldn’t identify the retailer.

“More than 80% of products shipped in U.S. were EMV capable, up from approximately 70% in the first quarter,” Galant said.

There’s plenty of upside left in the EMV conversion even though it is now three years since Visa Inc. announced the first U.S. chip card adoption plan. Big-box retailers have led the conversion, but many other merchant sectors are only getting started. About 30% of U.S. terminals are now capable of accepting EMV cards, according to Galant. “So, still an awful lot of the terminals need to be converted,” he said, noting that the 14 recent MX 900 terminal buyers did not include hospitality merchants or quick-service restaurants “that we believe are still coming.”

The major payment networks have set a so-called liability shift for October 2015 in which the party in a card transaction that cannot support EMV payments—issuer or merchant—will be responsible for any resulting counterfeit card fraud. Fuel-pump operators have two years beyond that to convert.

Galant also noted that virtually all of VeriFone’s EMV terminals include a near-field communication (NFC) chip, which will enable contactless payments between such terminals and smart phones. “A migration to EMV will certainly significantly increase the installed base of NFC terminals and the potential for the use of NFC in payment and commerce moving forward,” he said.

The payments world has been abuzz this week with rumors that Apple Inc will include an NFC chip in the next model of its iPhone, which it is expected to unveil next Tuesday.

Boosted by sales of its EMV equipment in addition to strong business from U.S. petroleum retailers, VeriFone reported North American revenues of $129.8 million, up 12.1% from $115.8 million in fiscal 2013’s third quarter. VeriFone had some wins in other countries too, including France, home of its arch rival Ingenico Group. France’s largest bank, BNP Paribas, picked VeriFone as its countertop POS terminal supplier for small merchants. In Canada, the Interac debit network certified VeriFone equipment for contactless payments at unattended merchant locations, which will be provided by merchant acquirer Moneris Solutions.

In China, which Galant sees as potentially a bigger market than the United States, VeriFone struck a deal to supply the leading bank, ICBC, with 75,000 countertop terminals, PIN pads and related hardware. Testing on the first devices begins in the fourth quarter.

VeriFone’s equipment has been priced above what most Chinese merchants want to pay. That price resistance spurred VeriFone to develop what Galant called a “home-grown product” with fewer bells and whistles than typical POS systems for North American merchants.

Galant also said VeriFone is making steady progress on its “One VeriFone” initiative to cut costs and unify its sprawling worldwide operations. The company in recent months has reduced its head count by 375, with about 125 more jobs to go, closed 14 facilities, liquidated 13 of 132 legal entities, and consolidated a number of data centers and research-and-development facilities. VeriFone also has cut its product count from about 1,000 to 525 and has reduced its operating systems, with the ultimate goal of products built on one platform.

VeriFone’s total third-quarter revenues grew 14.4% to $475.9 million. The company reported a net loss attributable to shareholders of $29 million versus a loss of $1.9 million a year earlier. Adjusted for one-time gains and expenses, net income grew 71% to $45 million from $26 million in the year-earlier quarter.


Read More: http://www.digitaltransactions.net/news/story/The-U_S_-EMV-Migration-Produces-a-Windfall-for-POS-Terminal-Producer-VeriFone

Credit Card Security and possible card breach being investigated for..

Home Depot Investigates a Possible Credit Card Breach

If the evidence proves to be valid, the Home Depot hack could top the record-setting breach of Target’s network last December. 

So far, all roads point back to Home Depot. And if the evidence uncovered so far proves to be valid, the hack could top the record-setting breach of Target’s network last December.

Investigators are searching for what they call “a common point of purchase” among the cards.

Bank employees are able to identify stolen cards simply by examining the first six digits of the card, which are known as the Bank Identification Number, or BIN number. They are buying back card numbers and cross-referencing the transactions of those cards in search of one common retailer.

Fraud detectives, meanwhile, who do not have access to transaction data, are able to exploit a recent innovation in the underground. In the last few years, carding sites have been selling the city, state and ZIP code of the store from which each card was stolen in addition to the account number and expiration date, said Ron Sadowski, the director of technology solutions at RSA, the security division of EMC.

Hackers can charge a higher price for that location data because it allows criminals and counterfeiters to fool fraud-detection controls, which often flag purchases from far-flung places, Mr. Sadowski said. Investigators will try to match those ZIP codes to a list of store locations for a particular retailer.

On Wednesday, Brian Krebs, the security blogger who first reported the potential breach of Home Depot, said that there was a 99.4 percent overlap between ZIP codes listed in a collection of stolen account numbers on an Eastern European carding site, called Rescator, and Home Depot’s store locations.

Mr. Krebs said that out of 1,822 ZIP codes listed in the stolen card data on the Rescator carding site, only 10 did not correspond to a Home Depot store location.

That means the breach could affect most of the retailer’s 2,200 stores, which is about 400 more than the Target breach.

Mr. Krebs, citing bank sources, said fraudulent activity indicated that the breach on Home Depot began as early as late April. If that is confirmed, criminals would have had unfettered access to Home Depot’s payment systems for some four months. By comparison, Target’s breach was detected after three weeks.

Home Depot, based in Atlanta, has not confirmed that it was the victim of a cyberattack, only that it was investigating “unusual activity.”

Paula Drake, a spokeswoman for Home Depot, said the company’s forensics and security teams “have been working around the clock since we first became aware of a potential breach Tuesday morning.” Ms. Drake said Home Depot had engaged Symantec and FishNet Security, two cybersecurity firms, to look into a possible breach.

If a breach is confirmed, Ms. Drake reminded customers that they would not be responsible for fraudulent charges and said Home Depot would offer free identity protection services, such as free credit monitoring.

Retailers are not the only businesses being targeted by hackers. Last week, JPMorgan Chase was the victim of a sophisticated breach that security experts say has affected as many as five financial institutions. The identity of the other institutions is still unclear.

“Underground criminals are going after all manner of businesses, large and small, that they think are vulnerable,” Mr. Sadowski said. “But the good news is there is more information than ever on how criminals are trying to perpetrate these attacks.”

Read More: http://www.nytimes.com/2014/09/04/technology/path-of-stolen-credit-cards-leads-back-to-home-depot.html?_r=0

Late Payments on Credit Cards at Lowest Level in 7 Years

Americans are doing a better job of making timely credit card payments, even as many lenders increasingly extend credit to more people with less-than-stellar credit histories.

The rate of U.S. credit card payments at least 90 days overdue fell to 1.16% in the April-June quarter — the lowest level in at least seven years, credit reporting agency TransUnion said Tuesday.

The second-quarter credit card delinquency rate is down from 1.27% in the same period last year and 1.37% in the first three months of this year.

Average card debt per borrower was up slightly in the second quarter, rising about 0.2% to $5,234. It rose 1.4% from the first quarter of this year.


Americans still have a limited appetite for debt after gorging themselves on subprime mortgages and credit cards before recession seized the country in late 2007.

Credit card borrowing started rising again in 2011, but the increases have lagged far behind other types of debt, including auto and student loans.

All told, U.S. credit card debt has increased 1.3% over the past year, reaching $873.1 billion in June, according to the Federal Reserve.

Meanwhile, the number of new credit card accounts opened by consumers increased in the first three months of the year.

The data lag by a quarter, so the latest TransUnion figures cover the January-March period. They show that the number of new credit card accounts rose 17.8% to about 11.7 million versus the same period a year earlier.

The share of cards issued to borrowers with less-than-perfect credit increased to 31.2%, compared with 27.3% a year earlier.

That’s still well below the roughly 45% share of cards going to non-prime borrowers before the recession, however.

Read More: http://www.latimes.com/business/la-fi-credit-card-debt-20140826-story.html

Square Tries to Remove Amazon’s Thunder About iPad Point of sale

In a recent blog post, Square Inc. is attempting to counter some of the attention foisted on Amazon.com Inc. after the announcement last week of Local Register, the online retailer’s mobile point-of-sale service, by dispelling the “top 10 myths” about Square’s service.

Local Register enables retailers to accept payment card transactions using a smart phone or tablet and the Amazon Local Register app. Analysts view it as competing most directly against Square and PayPal Inc.

The services share a similar strategy: one price for swiped transactions and another for keyed-in payment card information regardless of card type; no contract; and low entry costs.

“Square is a victim of its own success,” says Adil Moussa, principal at Adil Consulting, an Omaha, Neb.-based firm. “It was able to carve itself a new category in the market: a solution for micro-merchants.”

That’s worked so well that others have difficulty dislodging Square from that position, he says. “But now, Square found itself stuck in that position,” Moussa says. “So trying to dispel the myths surrounding it is a way to reposition itself in the market.”

iPad Point of Sale

At the top of Square’s list is pricing. Square said it offers value for its 2.75% swipe fee by including inventory management, sales data, invoicing and an e-commerce service. Amazon’s fee for swiped transactions is 2.5%.

Other issues include security, that it is only for small business, its business strategy is struggling and that it has hidden fees. Square also tried to thwart the idea that it profits from transaction disputes by withholding merchant funds, it lacks business management tools, that its reader if less reliable than others and that Square only works on Apple Inc. devices.

Square did not respond to a Digital Transactions News inquiry.

Square’s argument may have some merit, Moussa says, particularly in regards to expenses and security. “The expenses and security issues are only issues because other players in the market are making them issues after they copied what Square did and are trying to contain Square in the micro-merchant category and stop their spread into other categories of small merchants: small, midsize and premium merchants,” he says.

In the five years since Square’s debut, the company’s marketing prowess is well established. “Everybody is trying to outsell Square, but I don’t think you can outsell Square” says Jay Parkin, marketing manager at Velocity Merchant Services, a Downers Grove, Ill.-based independent sales organization. “Square is good. We can’t compete with the marketing dollars [Square] has.”

For the artist occasionally selling artwork at a few events each summer, Square might be the right service, he says. Is that a business model that works for Square? Who knows, Parkin says. Velocity Merchant Services isn’t competing with Square for that particular merchant, he says.

Instead, the ISO seeks those with more sophisticated payment needs. It may seek the merchant with an average transaction value of $400 to $500, in one instance, he says.

DONUP: Please note, selling based on rates, typically gets companies in trouble.  Because when corporate America looks at the revenues and they are disappointing, there is one way to make the revenues go up.  The way they increase revenues is to increase the rates or add additional fees.  Buyer be aware!

Read More: Square Attempts to Quell Some of Amazon’s Thunder With Post Dispelling ‘Myths’




Finding an expert to help tackle credit card debt

Not all “experts” claiming to be able to lower credit card debt are trustworthy.

How do you find someone trustworthy to help deal with credit card debt? @Davidlaz has the answer
Be careful about online offers to lower or eliminate credit card debt. Not all are trustworthy
Swamped with credit card debt? Here are two organizations that can help:
The National Foundation for Credit Counseling.

The Assn. of Independent Consumer Credit Counseling Agencies.

Suzan says she’s “overwhelmed with credit card debt” and is seeking a way to settle with her creditors — hopefully for a lower amount than she currently owes.

She wants to know where to turn.

First off, Suzan isn’t alone. According to the latest stats, American consumers collectively owe nearly $670 billion in credit card debt.

Credit Card, Credit Card Processing


The websites for both will allow you to search for an accredited counselor in your area. And in many cases, you won’t face out-of-pocket costs for their service; the creditor often pays.

Will that counselor be able to reduce your debt load or lower your payments? Maybe — but not always. However, they’ll likely be able to guide you toward the best plan of action for your situation.



Read More: http://www.latimes.com/business/la-fi-laz-debt-settlement-20140818-story.html

More Credit Card Fraud

Fraudulent Credit Card Purchases Caught On Camera

August 18, 2014 5:30 PM
FT LAUDERDALE (CBSMiami) – A couple was reportedly caught on camera committing more than a thousand dollars worth of credit card fraud.

Now Sunrise police have released surveillance images of the alleged duplicitous duo in hopes that someone recognizes them and picks up a phone.

The fraudulent purchases were made on July 19th at two retail chains. At the Walmart store at 12555 W. Sunrise Boulevard, a credit card stolen from a shopper at Sawgrass Mills Mall, was used to purchase a $600-plus camera around 3:30 p.m.

Nearly 15 minutes later it was used to buy five $100 gift cards from a Target store at 12801 W Sunrise Boulevard.

Anyone who can help police identify the couple is urged to call Broward Crime Stoppers (954) 493-TIPS (8477).

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