North American Bancard

North American Bancard has grown to become the leader in the credit card processing services for two decades, offering the lowest rates with the highest security.
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The peace of mind to focus on your success.

North American Bancard has been providing safe, secure, and reliable credit card processing services for more than 180,000 merchants nationwide.
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The best free equipment program in the business.

North American Bancard has been on the forefront of technology and modern business thinking, consistently offering highly-competitive pricing, and best-in-class customer service.
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Why Your Business Needs to Be on Facebook

Posted on 23, Apr | Posted by admin

Facebook TipsIf your business isn’t on Facebook, you are missing out on a big opportunity to reach hundreds of thousands of potential customers and grow your business. Creating a Facebook page for your business is easy to do, you can update it with minimal time commitment and, best of all, it’s free.

As Discover notes, Facebook can help you:

  • Build your business and tell its unique story.
  • Share any big or important business news.
  • Gather feedback from customers on products or services.
  • Reach a large number of new customers.
  • Respond to current customers quickly and in a personal way – building a relationship with your fan base.
  • Build an online community made up of fans of your business.

The first step you need to take is creating the actual business page on Facebook. Once you’ve created your page, be sure to update it on a regular basis. An active page that has videos, links to relevant stories, photos and special deals or promotions helps to ensure that you are connecting your business with as many potential customers as you can on a constant basis. Facebook also has tools that can help you view page insights, track page activity and respond to personal messages from customers.

To grow your Facebook fans as quickly as you can, be sure to add a “Like us on Facebook” button to your business’s website, and post signs at your business – you can even encourage friends and family to like the page. Facebook is your place to show the world what your business is about, so take advantage of this free marketing platform and make the most of it.

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Is Your Business Ready for Mobile Payments?

Posted on 21, Apr | Posted by admin

Mobile PaymentsMobile payment options for consumers are growing at an alarming rate, spurred on by the popularity of Apple Pay. Several major companies, in addition to Apple, now offer mobile payment platforms, including Google, Facebook and PayPal. While the majority of mobile payment activity takes place online, more and more people are taking advantage of in-person mobile payments at stores across the U.S.

According to MasterCard, all types of mobile payments are projected to expand four-fold by 2019, exceeding $1 trillion in payments made through tablets and mobile phones. In-person mobile payments are expected to increase 12-fold by 2019 to $104 billion.

There are several benefits to incorporating mobile payments into your business, including:

  • Reducing cost by lowering fraud loss and/or processing fees for businesses.
  • Increasing store traffic and profits by moving people through checkout lines more efficiently.
  • You can track the actions and purchases of your customers, allowing you to target your marketing efforts and make the most of your marketing budget.
  • You can attract customers during off hours with special offers or a coupon, utilizing the tracking mobile payments offers you.

So why should you prepare your business for mobile payments? Mobile payments are the new reality for stores. To stay competitive with big box stores and other small businesses, you will want to offer your customers as many payment options as you can in order to make their shopping experience an quick and easy one.

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5 Things to Know About EMV

Posted on 16, Apr | Posted by admin

EMVEMV adoption has started in the United States. Do you know everything you need to in order to successfully offer EMV transactions at your business? Here are 5 common questions and answers about EMV from MasterCard:

1. What is EMV?

EMV is a global industry standard used to govern chip card payments and acceptance devices like POS terminals. Europay, MasterCard and Visa developed the standard and, according to MasterCard, cards with EMV chips embedded in them provide strong security features, amongst other capabilities.

2. Where is EMV used?

More than 80 countries, worldwide, support EMV chip card payments. These countries include Canada, Mexico and several countries in Europe. The United States is the last major county to adopt EMV standards.

3. When do I need to have my business EMV ready?

According to MasterCard, if you install EMV capable card readers with PIN support by Oct. 1, 2015 you won’t be held liable for fraudulent transactions (lost, stolen or counterfeit). If you do not upgrade your terminals or equipment by Oct. 1, 2015 then your business will be held liable for potential counterfeit, lost or stolen fraudulent transactions made with EMV chip-enabled cards. Only fuel dispensers at gas stations are exempt from the 2015 deadline. Instead, they have until Oct. 1, 2017.

4. Why should I accept EMV cards?

EMV chip cards are harder to clone or steal data from, according to MasterCard, and merchants capable of processing both contact and contactless EMV chip payments will have more secure and faster checkout experiences for customers.

5. How does EMV secure transactions?

The chip that’s embedded into the payment device is like a mini computer that performs additional security check during the validation of a transaction, according to MasterCard. Using dynamic data, the chip makes each transaction unique. This is different from a traditional, magnetic strip credit card that uses static data and never changes – making it easy to replicate.

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What is an Interchange Rate?

Posted on 10, Apr | Posted by admin

Interchange ratesAs business owners, you have enough to worry about. That’s why we are here to help you keep track of interchange rate changes. If you are wondering, “What is an interchange rate?” read on for a quick explanation of interchange rates and how they work. As a North American Bancard merchant, you will be notified of any changes at the bottom of your monthly statement.

What are they?

Interchange is the money that gets transferred from the acquiring bank to the issuing bank for each transaction. These fees account for a portion of credit card processing costs and are established by the card brands of open-loop processing systems – Visa, MasterCard and Discover.

How do they work?

For daily discount merchants, when a credit card transaction occurs, the cardholder’s bank pays the merchant’s sponsor bank for the cardholder’s purchase, minus the interchange fee for the transaction. The merchant’s sponsor bank then pays the merchant from the remaining balance, less the amount taken for processing the transaction.

For monthly discount merchants, merchants are funded the full amount of the sale and the fees are then debited at the end of the month, or on a monthly billing schedule.

All interchange fees are set by the card brands– Visa, MasterCard, and Discover  modify some of their fees twice a year, usually in April and October.

Do these fees vary?

The interchange fee associated with each transaction depends on the interchange category that the transaction falls under, as set by the card brands. There are a few factors that can influence the interchange category, these include:

  • The processing method – was the transaction one where the card was swiped, keyed, or in a card-not-present environment like online?
  • Transaction data – if you process card-not-present transactions, the amount of information supplied at the time of purchase can impact the rate, information like the zip code of the cardholder.
  • Merchant category code – each business type processing credit cards is assigned a merchant category code (MCC). Specific interchange rates are applied to certain MCCs. For example, an auto repair shop will have a different MCC than a gas station or a hair salon.
  • Card type used – was the card a credit card, debit card, or a prepaid card?
  • Card brand – each card brand, as explained above, sets their own rates.
  • Card owner – a rate can depend on whether the card used at the transaction is issued to an individual, business, corporation or municipal agency.

New rates announced for 2015

Recently, the Card Associations announced some pricing adjustments to the interchange rates and fees. The following adjustments have gone into effect this past January, and new rates will be announced again prior to the end of 2015:

  • For Visa, there will be an increase to the Visa assessments by 2 basis points (0.02%) for all credit products; debit products will remain the same.
  • MasterCard announced there will be an increase to the MasterCard assessments by 1 basis point for all signature debit transactions, and for consumer and commercial credit card transactions under $1,000.
  • MasterCard also announced the introduction of the Digital Enablement Fee of 1 basis point (0.01%), which will be assessed on all consumer credit, commercial and signature debit dollar volumes for select card-not-present transactions.
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3 Small Business Tax Questions

Posted on 8, Apr | Posted by admin

tax returnThere are only a few short days left until tax returns are due. If you own a small business, you might have a few questions regarding your business and taxes you owe. Here are three common questions and answers, compiled by the Huffington Post:

1. Who do I owe?

As a small business owner, you might need to put together multiple tax returns for the different authorities you owe. You will file federal and state taxes, but you might not be aware of others that should be considered as they relate to jurisdictions, employees, sales and payroll related taxes.

2. What are deductible expenses?

According to the Huffington Post article, anything that is helpful and appropriate for your business is deductible. Things that are NOT deductible include traffic tickets, clothing, home telephone lines and unnecessary trips.

3. What are some of the biggest tax mistakes I might already be making?

Some common mistakes include:

- Not keeping track of receipts and expenses.

- Commingling your business and personal funds throughout the year.

- Trying to do your own bookkeeping with little to no understanding of how it all works.

- Not keeping up with deductibles that might be available to you.

For more tax tips, read the full article on the Huffington Post.

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What You Should Know About Keyed-In Payments

Posted on 6, Apr | Posted by admin

Card-not-present transactionsSometimes it can be impossible to avoid card-not-present transactions or keyed-in payments. So, how can you best protect your business? Use these tips from North American Bancard:

1. Request card information – Make sure customers can give you the name on the credit card, the card number, the expiration fate, the CVV2 security code and the correct billing address if you are keying in a payment without a card.

2. Obtain a signature – This is especially important for large transactions. Make your customer sign an invoice, a contract that states your refund policies and gives you authorization to take the payment or a credit card authorization form. Once signed, keep this document on file.

3. Have delivery confirmation – If shipping your product, make sure to request tracking information and a delivery receipt. If you are sending a large order, you will want to request a signature confirmation at delivery.

4. Get to know your customer – Before processing large card-not-present transactions, make sure you know your customer. Be sure to check their ID and make sure the information on it matches the payment information they give you.

5. Match the billing and shipping zip codes – When shipping your product, you want to check to see if the billing zip code given for the payment matches the shipping address zip code. If the zip codes don’t match, ask your customer why. If their answer doesn’t make sense to you, or sound plausible – don’t accept the payment.

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Here’s Why You Should Look at Merchant Processing Fees as an Investment

Posted on 2, Apr | Posted by admin

Credit Card ProcessingAs a small business owner, it’s important to be prudent with your expenses. However, there is one expense you should look at as an investment – merchant processing fees. These fees are a small percentage of the total sale of a product that gets deducted by your credit card processor on all credit sales.

In an article on MasterCard Biz, Carol Roth writes, “If you try to avoid merchant processing fees, you risk antagonizing prospective buyers and losing opportunities.”

If you limit payment options for customers, you run a real risk of losing customers. In her article, Roth uses an example of a graphic designer who preferred to be paid by check, even though clients wanted to pay online using credit cards.

“A year later, the designer raised her hourly rate – doubled it, in fact. My colleague thought the rate was fair because of the designer’s great work (but certainly not the deal it used to be),” Roth said. “My colleague almost fell off her chair when the designer again pushed back about online payment because of the processing fees. While my colleague didn’t mind the higher price, she didn’t want her own business to be disrupted by having to do the paperwork, and after a conversation with the designer, started looking for other designers to work with.”

In addition to losing customers, you can run the risk of not being able to close deals. If you don’t provide your customers with easy, hassle free ways to pay – they will likely seek out other vendors that do offer more convenient ways to pay for the services they need.

Do yourself, and your business, a favor and offer prospective customers and existing customers easy ways to pay you. Your customers will appreciate it and, in return, are more likely to become repeat customers.

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3 Reasons You Should Accept Credit Cards

Posted on 25, Mar | Posted by admin

credit card readerIf you own a business where you get paid in checks, you know the costs associated with generating and sending invoices — and waiting to get paid. You can wait days, sometimes weeks, for those invoices to be paid. For these types of businesses, accepting credit cards using a credit card reader can save you time and get you paid fast. Here are three great reasons why you should consider credit card acceptance if you don’t currently:

1. You get your money in 1-2 business days, not 1-2 weeks.

There can be real costs to your business if you aren’t paid in a timely manner. By accepting credit cards, you avoid going weeks without payment. Yes, there is a small percentage deducted in fees for each card you swipe, but these fees are minimal and you can shop around for the best offer. In addition, you avoid the cost and time it can take to track down customers for payment.

2. It’s easy.

Seriously. All you need is a credit card swiper that attaches to your phone, and an account. With a mobile credit card reader, you can accept payments anytime, anywhere.

3. It can increase your profits.

By allowing your customers to pay with credit, cash and check – you broaden your potential customer base. This broader base can result in more business and more profits.

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4 Ways to Control Your Sales Pipeline

Posted on 20, Mar | Posted by admin

salesAny good salesperson has a solid understanding of the sales pipeline. To help you build more awareness and get more prospects into your sales pipeline, try these four tips from EnMast:

1. Be clear about what problem you want to solve. Be sure you are clear about what you do and who you do it for.

2. Target your efforts towards people who have the problem you want to solve. You want to get your message out in front of as many of your ideal clients as you can. The more focused your marketing is, the more effective it can be.

3. Be helpful. Now that you have those ideal clients, woo them. Be as helpful as you can and don’t just “sell” to them. Offer your resources and build their trust.

4. Be clear about the response you want from them. Make it easy for potential customers to commit to your business.

To read the full article, click here.

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Should You Accept Mobile Payments at Your Small Business?

Posted on 18, Mar | Posted by admin

mobile paymentWith Apple Pay taking mobile payments mainstream, you may be wondering, as a small business owner, if you should start accepting mobile payments at your business. Sure, it’s an added convenience for your customers, but do the benefits outweigh the potential costs?

In an article on Business News Daily, Gregory Mann, chief marketing officer for mobile wallet LoopPay, said he thinks mobile payments will soon become a standard point of sale (POS) option.

“In [a small business], the decisions you make today affect you years from now,” Mann said in the article. “You have limited funds and watch every dollar. You have to decide when and where to make an investment.”

If you own a service-based business, accepting mobile payments through programs like Apple Pay may not make sense. However, if you own a brick-and-mortar shop – something like a boutique, coffee shop or bakery – mobile payment acceptance might become a portion of your business.

There are a variety of equipment options available at a variety of prices – all depending on your business needs. To figure out which is best, do your research and talk to companies, like North American Bancard, that can help set you up with a machine tailored to your business.

For more information about North American Bancard, visit www.northamericanbancard.com or call 877-840-1952.

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