Card Processing & Fees Clearly Explained
A: The incredibly vast majority of Simpay clients enjoy funds being posted to their account during the next business day. Depending on the payment network used, you can experience different “closing times,” meaning the deadline for submitting a batch of payments for processing. Your “close times” can be as late as 8pm. That means you could actually see funds in your account in much less than 24 hours! To learn what’s possible for your business, call us at 866-253-2227 or email us at firstname.lastname@example.org.
A: Absolutely! All Simpay clients have a secure online log-in they can use to view their credit card processing statements any time they want.
A: PCI DSS standards exist to protect the security of your customers’ credit card data. These requirements are essential. If you ignore them, and your data is hacked or otherwise compromised, you face financial penalties that can put you out of business. So, PCI compliance is a “must” for all merchants. Plus it’s easy to do!
A: Not at all! The vast majority of merchants can complete a short checklist and be in compliance! To know what you need to do, just call us at 866-253-2227 or email us at email@example.com.
A: Yes, you really do. Unless you want to be liable for chargebacks or fraud committed by unscrupulous shoppers. It’s not hard to convert. And it’s not expensive. If you have not yet converted your equipment to accept EMV cards, which everyone uses now, just call us at 866-253-2227. Or email us at firstname.lastname@example.org.
We’ll assess your set-up and recommend the smartest, quickest, and easiest way for you to integrate an EMV reader.
A: Essentially, it’s because the verification process has to do more and send more data than when you would swipe a mag-stripe card. To combat card-counterfeiting, during each transaction a new CVV1 code is generated. It takes time for that code to be generated and uploaded to the chip. But, because this code is changed with every transaction, it prevents crooks from creating a duplicate card. So, while the process does take extra seconds, the rewards in fraud reduction are worth it.
A: Yes. Simpay provides all merchant service customers with a data breach insurance policy that can protect you from up to $100,000 in financial losses due to your customers’ financial information being hacked. To learn more, please call us at 866-253-2227 or email us at email@example.com. We can assess your security situation and help you stay financially secure.
A: Absolutely! All Simpay equipment enables you to accept contactless, chip/EMV, and mag stripe cards. We’ve been promoting our multi-payment tech even before the Visa mandate (effective October 14, 2017). If your equipment is not set up to accept all payment forms without the customer selecting a payment type, contact us at 866-253-2227 or firstname.lastname@example.org. We can set you up.
A sample of what you'll learn each month: