Coming Soon: New Integrated Credit Card Payment Processing Options!
For the first time in years, you will be able to use your MicroBiz point of sale software on an integrated basis with payment processors other than X-Charge. The upcoming version of MicroBiz for Windows, version 15.2, will allow you to connect with dozens and dozens of payment processors and banks on an integrated basis, including X-Charge and our new preferred
processing partner – World Pay. Version 15.2 will offer the following payment options:
Option 1 – Use Our New Preferred Processing Vendor
We have entered into a new direct relationship with one of the largest core processors in the world –WorldPay. Because we are bypassing the middlemen in the payment market and working directly with a core processor, we can offer you very low processing rates. Plus you get all the advantages of an integrated POS-processing solution.
How competitive are our rates? Rather than have us tell you, you can see for yourself by using the interactive pricing wizard on our website to estimate your total monthly processing costs with WorldPay.
This pricing wizard uses a few pieces of information about your business (mo. card volume, avg. trans size, business type) to instantly calculate your estimated monthly processing cost including all fees and charges. This bottom line cost can then be compared to your latest processing bill to see if you can save money with our preferred vendor. You do not need to send us a statement, identify your business or even speak to a sales rep. It’s actually fun to play with! The interactive wizard is available on our web site at www.microbiz.com.
Option 2 – Connect to a Processor of Your Choice With Our Integrated Gateway
Want to continue using your existing credit card processor? No problem. MicroBiz for Windows version 15.2 includes an integrated processor neutral payment gateway. This payment gateway allows you to connect with most major payment processors and dozens and dozens of other smaller payment services and banks. So, you can enjoy the benefits of having a fully integrated POS-payment processing solution with the flexibility to use your processor of choice. The gateway option also gives you the ability to switch between supported processors without having to change your POS set-up or gateway. The ability to easily switch processors without disrupting your business provides great leverage when negotiating rates with payment vendors. Some of the supported processors include:
Chase Paymentech
Echo Intuit
Elavon
First Data
Global Payments
Heartland Payment Systems
Telecheck
TSYS
Vantiv
WorldPay
There is a one-time set-up fee and monthly fees to use this gateway. Please see our website www.microbiz.com to see what other processors are supported and to learn more about this service.
Option 3 – Continue Using X-Charge
MicroBiz version 15.2 will include an interface with X-Charge. So, if you currently use X-Charge you should not expect 
anything to change with version 15.2. You will still be able to use X-Charge payment processing on an integrated basis with
MicroBiz for Windows. MicroBiz for Windows version 15.2 is currently in beta testing with select customers and not yet available for general release. We anticipate that version 15.2 will be available for general release in late January/February 2013. If you would like to get access to these new payment processing options prior to the general release, please contact us at suggestions@microbiz.com or call us at (702) 749-5353 to sign up to participate in our beta testing program.
What Are The Advantages of Integrated Payment Processing Solutions?
In the retail management software market, ‘integrated payment processing’ is defined as a having your credit/debit card processing service tightly integrated with your retail point of sale (POS) system. An integrated payment processing solution offers the following advantages:
Reduces Errors – Integrated payment systems electronically transfer payment and confirmation data directly to your POS system. This electronic transfer of financial data reduces the potential for errors, fraudulent transactions and employee theft by eliminating the need to manually re-enter data from your credit card terminal into your POS system.
Lowers Payroll Costs - Time is money! An integrated payment system eliminates the time that your employees spend manually re-entering data from one system to other. When you consider the hourly cost of an employee, the costs of this inefficient business process can really add up.
Allows You to Spend More Time Growing Your Business – With smaller retailers, the burden of re-verifying credit card information and reconciling payment statements back and forth to financial statements usually falls on the owner and/or store manager. Besides the cost of payroll, there is a huge opportunity cost from using these valuable resources for mundane tasks such as chasing down data entry errors instead of having them focused on customer relations and growth initiatives.
Provides Better Insight Into Your Business -When you integrate payment processing information with your POS system, you will be able to create up-to-date and accurate reports combining store and payment information. These combined reports give you much better visibility into your business.
Increase Your Cash Flow - Every retailer wants to increase cash flow. By closely monitoring payments, you can reduce days’ sales outstanding (DSO), and speed up the process to post receivables and improve cash flow.
Reduce Exposure to PCI Breaches - Using an integrated payments solution from a PA-DSS (Payment Application Data Security Standard) certified vendor ensures that all exchanges of payment data are secure and PCI compliant with PCI security standards, which mandate that businesses safely encrypt and store PIN numbers, CVV2 numbers and magnetic stripe data.
Integrated payment processing can help you reduce costs and improve efficiency. If you currently use a payment processing solution that is not integrated with your store POS system, it may be worth it to re-evaluate the hidden costs of operational inefficiencies of your current set-up and research you new options to see if you can save time and money.
What is the Difference Between a Core Processor and an ISO or Reseller?
There are only a handful of global core transaction processors that actually process and settle credit card transactions. For example, the top 10 core payment processors in the US are estimated to have an 80% share of the market. So then who are the thousands of other companies that claim to do “credit card processing”? They are middlemen called ISOs independent selling organizations) that resell the services of the core processors under their own brand. Some are pure
marketing companies that add no value, some offer free equipment to lock in your business, while others may include some technology or services in their offering. The key distinction is whether the party that is offering the processing service actually owns the network infrastructure that processes and settles the transaction. If the answer is no, then they are a
middleman.
In the payment processing value chain, these middlemen typically keep a piece of each transaction dollar without processing or taking on the risk of a card transaction. But, someone has to pay these middlemen, which usually you in the form of higher processing prices and fees. MicroBiz decided to cut out the middleman and form a direct relationship with one of the largest core processors in the world - WorldPay. So, we can offer very competitive rates without having to pay a toll to these third party ISOs and resellers.
Ensure That Your POS Hardware and Supplies Work With MicroBiz
Just another reminder that you can now use the ecommerce store on our website to buy hardware, peripherals and supplies that are certified to work with your MicroBiz point of sale. Plus our prices are great! Our www.microbiz.com website has a fully functioning online store. So, you can continue to buy software and hardware through your MicroBiz reseller or by calling us – or you can now go to our website and buy these items directly.
Reminder that Windows 7 Hardware is Only Supported by MicroBiz Version 15
Please remember that only MicroBiz for Windows version 15 is certified to work with hardware running the Microsoft Windows 7 operating system. Prior releases of MicroBiz for Windows have known compatibility issues with Windows 7. Our current general release, version 15.1, is available for download at www.microbiz.com or by calling support.
Retail Tip of the Month: Five Suggestions on How to Market Your Business on a Tight Budget
No retailer likes to spend money, but an effective marketing program can be an investment in your business. Most small retailers seek to find ways to effectively market their business to their local market on a small budget. Below are five suggestions on how to market your business without busting your budget.
Target Your Local Market - It pays to stay focused on “local marketing.” First, try to define the geographic area that you are trying to reach. To reach the local shoppers who are researching their local shopping alternatives online before they go out shopping, make sure to add your business to Google Places, Yelp, and Yahoo! Local.
Use Social Media Such as Facebook - Social media has proven to be a very effective medium for communicating with customers and can be a low cost way to update them on your business activities. In particular, Facebook is very powerful if used properly. Ask your customers to ‘like’ your business’s Facebook page. Try running a ‘tell a friend’ promotion and create Facebook events for any sales.
Embrace Mobile Marketing - If you have a website, make sure that you have a mobile-friendly version of your site. Try to get your in store customers to visit your website using their mobile device. One suggestion is to place a sign next to your register that offers store customers some sort of value for visiting your site - such as special deals, discounts, and promo codes.
Printed Flyers Can Still Be Effective - Given all the focus on online marketing, retailers are sending out fewer traditional printed flyers. This shrinking number of fliers can be an opportunity to help your business stand out. If you do not have money for a mass mailing program, try creating flyers and placing them in local stores, coffee shops, and libraries.
Nothing Beats a Thank You - Strong customer service is a very effective marketing tool. A simple handwritten note to a customer with a short thank you message can be very powerful. This follow up is both inexpensive and very likely to be read by your customer.
If you would like to read the entire article, please visit our Blog at www.microbiz.com/blog.
Quote of the Month:
“Unless Someone Like You Cares a Whole Awful Lot, Nothing is Going to Get Better. It’s Not.”
Dr. Seuss, The Lorax
POS Tip of the Month: Take Advantage of the Improved Customer Statements in Version 15.1
We have upgraded the customer statements functionality on MicroBiz Version 15.1 to make the statements easier to read for you and your customers. The customer statements now clarify each transaction’s type and status. Other improvements include:
separated payments and charges;
added color separation and grid to improve readability; and
split detail on customer statement to create more room.
New Format for Windowed Envelopes
We have also added the option to print mailing and return forms with your statements. Now you can easily print out customer statements and mail them to your customers in windowed envelopes. The mailing forms include the customers address and your stores address so you do not have to purchase envelopes with your company name already printed on them. The screenshot below shows an example of the new mailing and return form that you can print with your customer
statements.