nfib webinar: payment processing introduction
TRANSCRIPT
![Page 1: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/1.jpg)
Webinar
Payment Processing 101
sponsored by
February 24, 2010
Download these slides at www.nfib.com/paymentslides
![Page 2: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/2.jpg)
Hosts
Dan HatcherExecutive Vice President
Brian BickelVice President of Sales
Download these slides at www.nfib.com/paymentslides
![Page 3: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/3.jpg)
$1662
We find savings for 70% of NFIB membersAverage annual savings - $1,662
Download these slides at www.nfib.com/paymentslides
![Page 4: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/4.jpg)
Payment Processing 101
Payment Processing 101
Download these slides at www.nfib.com/paymentslides
![Page 5: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/5.jpg)
10 Questions
Download these slides at www.nfib.com/paymentslides
Source:http://www.solveras.com/nfib/docs/webinar-10-questions.pdf
![Page 6: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/6.jpg)
Payment Processing
Payment Processing (noun):
A non-cash transaction.
Downgrades
Download these slides at www.nfib.com/paymentslides
![Page 7: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/7.jpg)
Visa, MC
, Am
ex, Discover
Download these slides at www.nfib.com/paymentslides
![Page 8: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/8.jpg)
Cards
Credit Card vs. Debit Card
Download these slides at www.nfib.com/paymentslides
![Page 9: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/9.jpg)
Wall Street Journal
Download these slides at www.nfib.com/paymentslides
![Page 10: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/10.jpg)
Visa
Download these slides at www.nfib.com/paymentslides
![Page 11: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/11.jpg)
Nielson
59%
41%
Debit CardsCredit Cards
Download these slides at www.nfib.com/paymentslides
![Page 12: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/12.jpg)
Pin Debit
Download these slides at www.nfib.com/paymentslides
![Page 13: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/13.jpg)
Bank Cards
Consumer CardsCommercial CardsInternational Cards
Download these slides at www.nfib.com/paymentslides
![Page 14: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/14.jpg)
Interchange
Interchange (noun):
Wholesale costs established by Visa, MasterCard and Discover for processingof all card types and transactions.
Downgrades
Download these slides at www.nfib.com/paymentslides
![Page 15: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/15.jpg)
One Size?
“One size does not fit all”
Download these slides at www.nfib.com/paymentslides
![Page 16: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/16.jpg)
Rates
“Know your rates”
Download these slides at www.nfib.com/paymentslides
![Page 17: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/17.jpg)
Card vs. A
MEX
Download these slides at www.nfib.com/paymentslides
![Page 18: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/18.jpg)
Transaction Types
The Four Buckets:
Download these slides at www.nfib.com/paymentslides
![Page 19: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/19.jpg)
Bucket 1
Swiped Check Card
Download these slides at www.nfib.com/paymentslides
![Page 20: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/20.jpg)
Bucket 2
Qualified
Download these slides at www.nfib.com/paymentslides
![Page 21: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/21.jpg)
Rewards C
ards
Download these slides at www.nfib.com/paymentslides
![Page 22: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/22.jpg)
Bucket 3
Mid-Qualified
Download these slides at www.nfib.com/paymentslides
![Page 23: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/23.jpg)
Bucket 4
Non-Qualified
Download these slides at www.nfib.com/paymentslides
![Page 24: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/24.jpg)
Downgrades
Downgrades
Download these slides at www.nfib.com/paymentslides
![Page 25: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/25.jpg)
Merchant Statem
ents
Download these slides at www.nfib.com/paymentslides
![Page 26: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/26.jpg)
Chargeback
Chargeback (noun):
A card holder has up to 180 days from the statement date to dispute what you charge them.
Download these slides at www.nfib.com/paymentslides
![Page 27: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/27.jpg)
Merchant Processor
Merchant Processor (noun):
Handle the transmission of payment data that is necessary to authorize and settle credit card transactions.
Download these slides at www.nfib.com/paymentslides
![Page 28: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/28.jpg)
Front End Processor
Merchant Processor (noun):
Handle the transmission of payment data that is necessary to authorize and settle credit card transactions.
Front End Processors
Download these slides at www.nfib.com/paymentslides
![Page 29: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/29.jpg)
Back End Processor
Merchant Processor (noun):
Handle the transmission of payment data that is necessary to authorize and settle credit card transactions.
Back End Processors
Download these slides at www.nfib.com/paymentslides
![Page 30: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/30.jpg)
Payment Processor
Payment Processor (noun):
Company appointed by the merchant to handle credit and debit card transactions
Download these slides at www.nfib.com/paymentslides
![Page 31: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/31.jpg)
Annual C
heckup
Download these slides at www.nfib.com/paymentslides
![Page 32: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/32.jpg)
HOW TO GET THE BEST RATE FOR YOUR PAYMENT PROCESSING
1. Don’t be fooled by a low rate.
2. Read your merchant statements.
3. Watch out for lengthy contracts with early termination fees.
4. Get your annual rate review
5. Know the “Ten Questions to Ask Your Processor”
Download these slides at www.nfib.com/paymentslides
![Page 33: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/33.jpg)
Download these slides at www.nfib.com/paymentslides
![Page 34: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/34.jpg)
Virtual Terminal
Virtual Terminal (noun):
A Web gateway that permits you to process all of your payments – cards, ACH, recurring payments – through your computer.
Download these slides at www.nfib.com/paymentslides
![Page 35: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/35.jpg)
AC
H Payments
Automated Clearing House (noun):
ACH, also known as “eCheck” is an inexpensive alternative to credit card payments. Transactions are direct debits to a customer’s bank account.
Download these slides at www.nfib.com/paymentslides
![Page 36: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/36.jpg)
Recurring Payments
Recurring Payments (noun):
The ability to charge your customer by credit card or ACH by automatic billing.
Download these slides at www.nfib.com/paymentslides
![Page 37: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/37.jpg)
Recurring Payments
Download these slides at www.nfib.com/paymentslides
![Page 38: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/38.jpg)
Recurring Payments
Download these slides at www.nfib.com/paymentslides
![Page 39: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/39.jpg)
Routing and Account #
Download these slides at www.nfib.com/paymentslides
![Page 40: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/40.jpg)
Remote Deposit C
apture
Remote Deposit Capture (noun):
Never go to the bank again. Scan paper checks into a bank account.
Download these slides at www.nfib.com/paymentslides
![Page 41: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/41.jpg)
Check 21 A
ct
Download these slides at www.nfib.com/paymentslides
![Page 42: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/42.jpg)
Other C
heck Services
Verification Guarantee Conversion
Download these slides at www.nfib.com/paymentslides
![Page 43: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/43.jpg)
Check Verification
Check Verification (noun):
Verifies if the check writer has previous outstanding unpaid bad checks.
Download these slides at www.nfib.com/paymentslides
![Page 44: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/44.jpg)
Check G
uarantee
Check Guarantee (noun):
Your check insurance policy - makes sure you get paid for a returned check.
Download these slides at www.nfib.com/paymentslides
![Page 45: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/45.jpg)
Check C
onversion
Check Conversion (noun):
Converts the check into an ACH payment (eCheck) canceling the paper check.
Download these slides at www.nfib.com/paymentslides
![Page 46: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/46.jpg)
Check G
uarantee
HOW TO GET THE BEST PRICE FOR CHECK GUARANTEE
1. Look for monthly minimums and statement fees
2. Look for a provider that has a liberal check acceptance policy
3. Be clear about what checks are not covered
Download these slides at www.nfib.com/paymentslides
![Page 47: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/47.jpg)
Check Verification
WHAT SHOULD YOU LOOK FOR IN CHECK VERFICATION?
1. Use a provider that uses the largest national database possible and make sure the database has a large amount of merchants in your area.
Download these slides at www.nfib.com/paymentslides
![Page 48: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/48.jpg)
Payment Processing 101
Payment Processing 101
Download these slides at www.nfib.com/paymentslides
![Page 49: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/49.jpg)
Q&A1-800-619-5301
[email protected]@Solveras.com
http://www.solveras.com/nfib/docs/webinar-10-questions.pdf
Download these slides at www.nfib.com/paymentslides
![Page 50: NFIB Webinar: Payment Processing Introduction](https://reader036.vdocuments.mx/reader036/viewer/2022071601/613d4ff6736caf36b75bd63a/html5/thumbnails/50.jpg)
More Info
For more information about the Small Business Webinar Series
hosted by NFIB visit www.NFIB.com/webinars
Download these slides at www.nfib.com/paymentslides