Everything You Need to Know About NFC Mobile Payments

When customers use their phones to pay for purchases at supermarkets, restaurants or stores, those payments are in part powered by near-field communication (NFC). NFC is a type of wireless connection that lets two devices in close proximity to each other communicate. For instance, a smartphone with NFC enabled can send data to a nearby credit card terminal.

NFC makes paying more convenient for customers and businesses. If your company isn’t yet accepting NFC mobile payments, learn more about how it works and the benefits of using it.

What Is an NFC Mobile Payment?

NFC mobile payments are contactless payments. To make a mobile payment, a person must first have a smartphone with NFC enabled. They also need to install a digital wallet app on their phone. A few different digital wallets are available, including Google Pay and Apple Pay. Each type works with a specific type of mobile device. Apple Pay works with iOS devices, while Google Pay works on either Android or iOS devices.

Once someone has a digital wallet on their phone, they can load their payment information onto it. They will provide their credit card information, including their account number, expiration date and security code. The app stores that information securely. When they want to make a payment, they can open the app, choose their payment method and wave their phone near the credit card terminal.

How Does an NFC Mobile Payment Work?

NFC is a type of radio frequency identification (RFID) that lets devices communicate when they are within a certain range of each other while NFC is enabled. Most smartphones let users toggle NFC on and off. RFID isn’t new—it’s been used for decades in barcode scanners. However, NFC is a newer form of RFID—it’s been in use just since the start of the 21st century.

NFC uses a specific frequency that lets devices talk to each other when they are very close together. For an NFC payment to work, the user typically needs to place their mobile device about two inches away from the NFC-enabled terminal.

When an NFC-enabled mobile device with a digital wallet app installed gets within range of an NFC-enabled credit card terminal, the two devices start talking. When a customer opens their wallet, the NFC device will prompt a form of authentication, such as facial recognition, a fingerprint scan or a personal code. After confirming the user’s identity, the NFC device and terminal will establish a secure connection.

The smartphone sends encrypted payment data to the terminal, which then sends that data to the appropriate banks. The banks approve or deny the transaction, the data gets sent back to the terminal and mobile device, and the payment is completed (or declined).

The entire process takes just a few seconds. It’s usually much faster than swiping or inserting a credit card for payment and quicker than handing over cash and waiting for change.

Who Accepts NFC Mobile Payments?

Many kinds of businesses use NFC payments. Although this method is rarely the only option a business offers, adding it to the list has many benefits. Businesses that process many payments in one day can especially benefit from NFC. This includes businesses like:

• Brick-and-mortar stores: Antique dealers, clothing stores, home goods stores and similar locations offer NFC mobile payments.
• Mobile retailers: Street vendors, flea market booths and similar traveling retailers can increase convenience with NFC payments.
• Food service: Dine-in and carry-out restaurants offer NFC payments for contactless payment at the table or during pickup.
• Healthcare facilities: Contactless NFC payments are common in pharmacies, hospitals, therapist offices, dental offices and other healthcare facilities.
• Recreational facilities: Gyms, fitness centers and facilities serving individual customers can appreciate NFC payments.
• Nonprofit organizations: NFC payments are an excellent way to enable convenient donations and fundraising.

Advantages of Using NFC Mobile Payments

NFC payments offer benefits to businesses and consumers. If you haven’t yet started accepting mobile payments, here are a few reasons to do so.

1. They’re Fast

A lot happens when a customer presents their mobile phone to pay, but it all happens nearly instantaneously. That’s because data travels from phone to terminal more quickly through NFC than it does when a card is physically swiped or inserted into the machine.

All that speed is good news for business owners, as it allows them to serve more customers in less time. It’s also good news for buyers, as they don’t have to wait a long time at the checkout counter for a sale to complete.

2. They’re Convenient

Who hasn’t forgotten their wallet at home, only to realize it when they’re at the front of the checkout line? With mobile payments, all a customer needs to do is pull out their smartphone to pay for their groceries, meals or new wardrobe.

NFC payments also allow for a smoother transaction process. Most people keep their phones within easy reach, but their wallets are securely tucked into a bag or pocket. Using mobile payment eliminates the need to dig around for a wallet. Customers also don’t have to wait for change or spend time counting out the correct number of bills.

3. They’re Secure

NFC mobile payments are as secure (if not more) than card payments—and they’re way more secure than using cash. If someone loses cash or has their wallet stolen, there’s no way to get it back. However, if someone loses their smartphone, they can lock it down to prevent anyone from accessing it or their payment information.

Digital wallets often have multiple security features built in to prevent unauthorized access. For example, a digital wallet may open up after the phone’s owner scans their fingerprint. Some apps use facial recognition software and only open after scanning the phone owner’s face. A slightly less secure option is for the app to require a person to input a code or draw a pattern before getting access.

When sending data from the phone to the credit card terminal, digital wallets encrypt the information. If a third party intercepts the payment data, they’d have to spend a lot of time and effort cracking the code and deciphering the information.

Some digital wallet apps also use a security measure called tokenization. Once the user provides their payment card information to the app, the app creates a series of random numbers, which it then uses in place of the payment card. Outside of the NFC payment system, the random numbers are worthless. If a third party gets access to them, they wouldn’t be able to use them for anything.

4. They Give Customers More Options

For some customers, the more payment options they have, the better. Adding NFC mobile payments to your business’s point-of-sale (POS) system means your customers have another choice when it’s time to complete a transaction. They can feel confident running to the store with only their phones.

5. They’re Flexible

Most digital wallets allow customers to use them for in-person payments—such as when someone is picking up their morning coffee or grabbing groceries after work—as well as for online payments, such as placing a weekly Amazon order.

6. They’re Easy to Set Up

Your business needs a terminal that accepts NFC payments before you can start accommodating digital wallets and mobile payments. If you use a complete payment solution, your card terminal will already be NFC-enabled, making it easy to start accepting digital wallets.

Once you have an NFC-enabled terminal, your business is ready to accept mobile payments from customers, speeding up their time in the checkout line and making life more convenient for everyone involved.

The Difference Between NFC and EMV

Europay, MasterCard and Visa (EMV) payments often appear alongside NFC payments in discussions, as they are both authenticated payments. While both methods offer convenient, secure and authorized payment methods, these methods use different technologies. EMV payments reflect the move away from magnetic strips and toward chip card payments. In many cases, swapping existing terminals to embrace modern models will allow you to embrace both payment types, expanding your flexibility. There may be other crossovers as well. For example, users may complete NFC payments by placing their device near the “tap” terminal location that accepts EMV payments. Additionally, some EMV-chipped cards support NFC technology.

NFC Mobile Payments Examples

Digital wallets turn smartphones into payment methods. The type of digital wallet a person has installed on their device depends on the operating system. Here are some of the most readily available NFC payment digital wallets.

Apple Pay

Apple Pay works on iOS devices, such as the iPhone, and preinstallation means users don’t have to download the app on their own.

Apple Pay users can save their credit or debit card information to the app, plus membership cards and gift cards. Individuals in the United States have the option of using an Apple Card or Apple Cash, which is a digital prepaid card. Users can choose which payment method to use as their default payment.

When someone wants to use Apple Pay to complete a purchase, they need to open and unlock the app using FaceID or their password.

Samsung Pay

Samsung Pay is similar to Apple Pay but only works on Samsung devices. It works the same way Apple Pay does, letting individuals save their membership cards, gift cards and debit or credit card details. Users can also take advantage of a prepaid Samsung card when using Samsung Pay.

For security, the app only opens after scanning the user’s iris or fingerprint.

Google Pay

While Apple Pay only works with iOS and Samsung Pay only works with Samsung, Google Pay works on Android and iOS devices. It allows users to save payment information that they can then access to make payments from the Google Pay app or when using the Chrome browser.

To use Google Pay, a person needs to verify their identity. They can use their fingerprint or a personal identification number (PIN) or draw a special pattern.

Addressing Payment Security With NFC

Like any payment method, understanding security risks and how to overcome them is crucial for your business and customer peace of mind.

A unique risk for NFC payments is an “eavesdropping” attack. NFC payments typically occur within short distances. The eavesdropping strategy allows unauthorized devices to receive a customer’s NFC signal during their transaction. This process can capture the information the customer is transferring, including card information. While this method typically requires equipment and a specific distance range, attackers will likely find ways to make overcoming these barriers easier.

Skimming is another possible risk. This attack strategy involves creating a fraudulent payment terminal to modify the existing one. The fraudulent terminal can capture the information of all NFC users who interact with it, which attackers can use to conduct unauthorized transactions or clone cards.

It is crucial to implement effective security strategies to combat these risks. Regular security checks, monitoring transactions and incorporating physical security can decrease the likelihood of an NFC attack. Proper staff training and partnering with reliable terminal and software providers can enhance your security practices and boost peace of mind.

Embracing NFC Payments With CSG Forte

Are you ready to accept mobile payments at your brick-and-mortar location? CSG Forte’s payment solution can help. Our platform makes it easy for customers to pay using their chosen method, whether it’s their digital wallet, a physical card or cash.

If you’re ready to streamline payment at your business, contact CSG Forte today to learn more about our payment solutions.

E-Commerce Payment Methods

E-commerce is big and getting bigger. In 2023, mobile e-commerce sales, in particular, are expected to top $415 billion, making up 6% of all retail sales. By 2025, mobile sales could be as much as $710 billion.

To reach today’s shoppers, your business must accept online payment methods, from credit cards to digital wallets. Learn more about e-commerce payment options and what your company can do to increase the number of payment methods it accepts and the number of customers it can reach.

 

What Is E-Commerce Payment Processing?

E-commerce payment processing is what allows a business to accept electronic payments. The process of paying online is usually over in what seems to be only a few seconds, but payment information actually makes a fairly long and detailed journey from submission to approval.

E-Commerce vs. Traditional Payment Processing

E-commerce payment systems differ from traditional payment processing methods in a few ways. With traditional payment processing, a merchant connects a third-party payment gateway to the checkout process. The customer needs to visit a separate page to provide their payment details. They are then redirected back to the checkout page of the merchant.

E-commerce payment processing removes the intermediary, as it integrates payment processing into your website. It’s perceived as more secure and trustworthy by the customer, as they aren’t being taken to an unknown third party. Integrating e-commerce payment processing into your retail website helps build trust with your shoppers, which can lead to more sales.

 

How Does E-commerce Payment Processing Work?

Several parties are involved in the online payment process. Most of the work happens behind the scenes and moves quickly, so a customer may not realize their payment information has to go through several steps before it’s approved and the sale is complete.

1. Customer Inputs Payment Information

The e-commerce payment process begins when a shopper inputs their payment information during checkout. They may use a credit or debit card or a digital wallet such as Apple Pay, Google Pay or PayPal. The customer inputs their payment information into the checkout page on your site. The data is then encrypted and sent over a payment gateway to a processor.

2. Information Reaches Payment Processor

Once the processor receives the payment information, it reaches out to the bank connected to the debit or credit card. The bank confirms that the customer has enough funding to cover the transaction. If all is well, the bank approves the transaction. If there isn’t enough money in the account or on the credit line or the bank suspects fraud, it declines the transaction.

3. Transaction Is Accepted or Declined

From there, the payment processor lets the payment gateway know if the transaction was accepted or declined. The payment gateway then shares that information with your website. If the bank approved the transaction, the sale is complete and the customer gets an order confirmation. If the bank declined the transaction, the customer receives an error message and is asked to try again or seek help.

4. Approved Transactions Go Through

After the transaction is approved and complete, the total amount is deducted from the customer’s bank account or credit line and sent to your merchant account.

 

Who’s Who in E-Commerce Payments

There are several participants in the e-commerce process. Take a closer look at what each party does and their roles.

Payment Processor

A payment processor is the service provider your business uses to accept credit cards and other digital payment methods. It facilitates the e-commerce transaction by sending payment data to the customer’s credit card or bank and your merchant account.

Payment Gateway

A payment gateway is necessary if your business wants to accept payments online. It’s a platform that connects your website to a merchant service provider, enabling data transfer between the payment processor, issuing and receiving banks, and your website. When a customer’s bank or credit card approves or declines a transaction, the information is sent to your website through the payment gateway.

Merchant Account

After a customer’s bank or credit card authorizes an e-commerce transaction, the money needs a place to go. The funds are deposited into your merchant account.

A merchant account is separate from your business’s bank account. To get a merchant account, you need to have a relationship with a merchant services provider, which provides software and hardware for e-commerce sales. Some banks offer merchant accounts, but before choosing a provider, you should consider factors like:

• Hardware and software costs
• Quality of customer support
• Contract length and other terms

Once you’ve opened a merchant account, you can link it to your business’s bank accounts. You can transfer any funds in your merchant account to your business checking or savings, usually after a day or two.

 

What Are the Types of Global Payment Methods?

E-commerce payments take place over the internet, but the payment methods vary considerably. Several e-commerce payment methods exist, and the available options are evolving.

The payment method a customer is likely to choose depends largely on the options available and their preferences. To facilitate the payment process and reduce the chance of turning a customer away, consider accepting as many payment types as possible.

Details From Physical Cards

Types of e-commerce payment methods with physical cards include:

• Credit cards: Credit cards have 16-digit numbers assigned to them, plus an expiration date and security code. When a customer uses a credit card to pay, the sale amount is deducted from their credit line. If they have enough remaining on their credit line, the issuing bank typically authorizes the transaction.
• Debit cards: Like credit cards, debit cards have 16-digit account numbers, an expiration date and a security code. They’re connected to a customer’s bank account, typically their checking account. When a customer pays with their debit card, the funds are pulled from their bank account. 
• Prepaid cards: Prepaid cards work similarly to debit cards but aren’t connected to a bank account. Instead, a person purchases a card and “loads” a certain amount of money onto it. Every time they use the card, the purchase amount gets deducted from the amount loaded onto it. Some prepaid cards are reloadable, while others aren’t, like gift cards. If there aren’t enough funds on the card, the transaction gets declined.

Payment With Account Information

In the digital age, customers can also use account details or securely stored card information to make purchases online. These are digital payment options like:

• Digital wallets: Digital wallets “store” customers’ credit and debit card information. Examples include Apple Pay and Google Pay. The wallets can be used on any device, including a smartphone, laptop or tablet. They’re designed to make paying for purchases more convenient and secure because they encrypt and tokenize payment information.
• Online payment services: Sites like PayPal or Venmo connect to a customer’s bank account. Shoppers log in to the payment platform at online checkout instead of needing their bank account details.
• Bank transfers: A bank transfer, or an automated clearinghouse (ACH) transfer, pulls money directly from a customer’s bank account. To perform the transfer, the customer needs to provide their bank’s routing number and account number. They can usually use a checking or savings account.
• EChecks: EChecks are often confused with ACH payments, but the two methods differ. ECheck is a form of ACH, but it’s not ACH itself. When paying by eCheck, a customer provides information that would be found on a paper check and authorizes the payment. It does take slightly longer to receive funds from an eCheck, but it processes as quickly as ACH.

Other E-Commerce Payment Methods

Other payment methods include:

• Buy now, pay later: Customers split the cost of purchases into installments with this method. Typically, buy now, pay later programs are offered through a third party, which collects the payments from the customer and may charge them interest.
• Cash on delivery: Cash on delivery (COD) is a relatively old-school payment method that’s still popular in some parts of the world, often in places with a large unbanked population or where credit or debit card use is uncommon. With COD, a customer orders a product or service and pays in cash when the item arrives at their home or the service is performed.

 

What to Look for in an E-Commerce Payment System

Make it easier to choose among your many e-commerce payment system options by knowing what to look for. Because each business has different needs, a payments platform that’s right for one store or merchant may not be right for you.

Keep an eye out for these qualities when choosing your payment system.

1. Security

The payment solution you choose should be secure. Security can take several forms, so look for the following features:

• Tokenization: Tokenization turns sensitive credit card and other payment data into randomly generated tokens. On their own, the tokens have no value, so if they are intercepted by a third party, the third party can’t use them elsewhere.
• Hosted payment pages: Holding on to customers’ sensitive payment information puts you and them at risk. Hosted payment pages mean that your company doesn’t store payment details on its site and that any payment information is kept secure.
• End-to-end encryption: Encryption transforms data into strings of gibberish, making it worthless if intercepted. Look for a payment system that uses Payment Card Industry (PCI) validated, end-to-end encryption.

2. Ability to Accept Different Payment Types

The more payment types you can accept, the wider your customer base. Choose a payment system that lets you accept credit and debit cards, digital wallets, eChecks and other payment methods.

3. Costs and Fees

All payment processors charge fees for using their services, but the fees vary. Before deciding to work with a payment system, review the costs associated with it and the fees it charges. Typical fees include:

• Monthly subscription fee
• Transaction charges, which can be a flat fee or a percentage of the purchase amount
• Setup fees

4. International Payments

When you sell online, you may have customers from all over. To accommodate people living in countries other than yours, you may want to look for a payment system that lets you accept payments in other currencies.

 

Why Work With CSG Forte?

CSG Forte lets you manage your payment operations from a single location. Our complete payments solution lets you accept any payment method, from cards to digital wallets to ACH. Our solution goes beyond online sales, allowing you to accept payments in person and over the phone.

We also have several pricing structures available. Choosing the pricing model that works best for your business, based on your sales volume and transactions.

 

Contact Us Today to Get Started

If you sell online, you need a payment system that’s secure, affordable and flexible. Contact CSG Forte to learn more about our complete payment solution or to sign up for an account.

Credit Card Processing Outage

Whether you run an online or brick-and-mortar business, you depend on credit card payments from your customers. Debit or credit cards have become the preferred payment method for most shoppers, with 57% of total payments being completed by card.

So what happens when your credit card system is down and you can’t accept card payments? Card outages happen, making it difficult — if not impossible — for customers to pay. Here’s what you can do if card readers are down to reduce the impact on your business.

 

Credit Card Outages Happen

Most payment card transactions happen instantly, taking seconds from the time the customer taps their card or types in their payment details. The transaction is fast, but a lot goes on behind the scenes. The payments platform sends the customer’s card information to the issuing bank, which approves or declines the transaction based on different factors.

The approval or rejection travels back to the card network, then the merchant’s account, then the payment processor.

When credit card machines are down or there’s a credit card outage, the process can’t happen. Something is standing in the way. Since credit card systems need the internet to function, it could be due to an internet outage.

A credit card outage can stem from several sources. The merchant’s equipment could be to blame. Your Wi-Fi router might be acting up, making it difficult to connect to the internet. Refreshing your router or switching to a wired connection may clear up the issue.

Sometimes, the outage stems from the credit card processor itself. A Visa debit card outage may happen when Visa’s having connectivity issues, for example. The software a business uses to process card payments may be experiencing a glitch or outage.

An outage, no matter its cause, can disrupt your business and lead to a drop in customer satisfaction.

 

How Does a Credit Card Outage Affect Your Business?

Because credit card outages can have a tangible impact on your company, you should do what you can to make these issues as rare as possible. Some effects of a card outage can include:

• Loss of business: A credit card outage can cause an immediate loss of business — all the customers who planned on paying with their debit or credit card can’t anymore. If you operate a physical store, some of those customers can switch to cash payments instead. If your sales are primarily online, your customers most likely can’t complete their purchases until the outage is resolved. You may notice a dip in sales on the day of the outage.
• Unhappy customers: Credit cards offer convenience and security that cash can’t match, and many shoppers primarily carry cards because of that safety. If someone loses their debit or credit card, they can report the loss to their bank, pause and cancel the card so they don’t have to worry about losing actual money. If someone drops $20 on the street, that money is gone for good. When customers can’t use their preferred payment methods, they might take their business elsewhere.
• Negative reputation: Frequent outages can adversely affect your business’s reputation. Customers may start to assume that your card machines won’t be working and may be more likely to visit your competitors. Faulty payment card equipment can also cause customers to question your business’s trustworthiness.

 

What Causes a Credit Card Outage?

Card outages can happen for a few reasons. Some issues are widespread and may affect multiple merchants and businesses simultaneously, while others occur only with your business.

Power Outages

Bad weather — from thunderstorms to hurricanes, blizzards, and extreme heat or cold — can affect the power grid. When many people use large amounts of power at once, such as to run their heaters or air conditioners during a cold snap or heatwave, the grid can go down. Electrical lines can also be damaged by lightning, ice buildup or intense winds.

During a power outage, everything will be down. Your business’s point-of-sale system may not operate, and your computers won’t power on. If your customers are shopping online, they may get cut off from shopping if their own power goes out.

If you’re experiencing a power outage, talk to your electric company. Inform them of the outage so they can send out a crew to investigate and fix the issue if possible. The electric company can also give you an estimate of when you can expect them to restore power.

Some brick-and-mortar stores choose to add generators and backup power to their premises to keep their point-of-sale systems running if the power does go off.

Internet Issues

Card payment processing needs an internet connection to work — if the connection gets interrupted, the payment can’t go through. Internet issues can take multiple forms and have different sources:

• Wi-Fi problems: The Wi-Fi signal may be weak or blocked, or your router may not function properly. Sometimes, moving the router or switching to a wired connection is all you need to do to solve the problem.
• Provider outage: An outage may stem from the provider. Storms and severe weather may affect your internet service provider’s ability to establish a connection. Many service providers have outage maps online and keep their customers in the loop if there’s an issue in the area. In this case, all you can do is wait for the connection to be restored.

Hardware Troubles

The hardware you use to process sales and read payment cards may have issues, which can look like a credit card outage. For example, the card reader may wear out or become unable to detect contactless payments. If the hardware isn’t updated, it can also stop working.

Sometimes, the ports that connect your register to the card reader can become worn out. In that case, you may need to replace your hardware to get your system up and running again.

Software Issues

In rare cases, the payment processor’s software may cause a card outage. If the payment processor goes down, your business and numerous others will be affected. It can also be the case that one of the major card companies, such as Visa or Mastercard, is experiencing an outage.

 

What to Do During a Credit Card Outage

During a card outage, you don’t have to wait for the issue to be resolved. Being proactive can help protect your reputation, get to the root of the issue and keep your customers happy.

Take these steps if your credit card system is down:

1. Tell Your Customers

As soon as you detect a problem, tell your customers about it. Email people to inform them of the issue, put a message on your website or social media, and post a sign on the door of your physical location. Explain what’s happening and how you’re working to fix it.

2. Accept Other Forms of Payment

The more payment options customers have, the more likely they are to complete their purchase. If you can’t accept credit or debit cards now, let people know which payment methods are working, whether it’s cash, e-Checks or alternative payment options like PayPal or Venmo.

3. Troubleshoot

Try to find the source of the problem — it could be something you can fix on your own. Fix Wi-Fi issues by restarting the router, or look for loose cables in your point-of-sale system. Check for updates on your software and hardware, as well.

4. Ask Around

If you can’t find an immediately obvious source of the problem, find out if other businesses are experiencing the same issue. Once you know the problem is bigger than your company, you can monitor the situation and inform the parties who are most likely going to resolve it.

5. Offer a Discount

Your customers may be inconvenienced during a card outage. One way to smooth over the situation and encourage them to shop with you again is to offer a discount code or coupon to use on a future purchase.

6. Take Steps to Prevent Credit Card Outages in the Future

Being proactive can help reduce the chance of a credit card outage in the future. Purchasing a backup generator, switching internet providers and preparing for bad weather are helpful steps to take.

Another option is to keep your hardware and software up to date to reduce the chance of malfunctions. It’s also worthwhile to find a payment platform with a proven track record and stellar reputation.

 

Choose CSG Forte as Your Payment Platform

You need to have a payment platform that will have your back during a card outage and that will provide the flexibility you need to respond to any outage issues. CSG Forte has over 20 years of experience as a complete payment solution. We’ll help you accept all payments and keep your business online. Contact us today to get started.

Why Does Your Business Need a Payment Service Provider?

Payment service providers (PSPs) are pivotal in the digital payments landscape. Their services enable merchants of all sizes to accept various payment methods since consumer preferences differ. Retailers can gain more customers and increase sales by offering more payment choices.

 

What PSPs Do

A PSP is a third-party business partner that provides the technology required for merchants to take different payment methods from their customers. They help connect retailers to financial networks to support collecting credit and debit card payments, electronic bank transfers and more.

PSPs—also called merchant services providers—make payment collection simple, convenient, efficient and secure. They enable businesses to choose a processing option outside of their banks and generally work with numerous financial institutions and card networks. These broad industry connections help make the services more cost-effective and often come with additional features for more value. The result is a seamless payment experience for companies and their consumers.

Functions and services PSPs offer include:

• Payment processing
• Transaction security and fraud prevention
• Payment gateway integration
• Multichannel and cross-border payments
• Reporting and analytics
• Customer support

 

Types of Payment Service Providers

Numerous types of payment service providers exist with certain distinctions among them:

• Acquirers and merchant account providers: These entities are typically financial institutions like banks. Under these options, each retailer has a separate account and merchant identification number (MID). Conversely, a PSP allows numerous businesses under one account and an overall shared MID.
• Payment gateways: Merchants use these solutions to process debit and credit card transactions. They include e-commerce portals and physical point-of-sale (POS) readers. Modern payment gateways may even support payments in digital currencies.
• Aggregators: Merchant aggregators are PSPs that enroll retailers under the PSP’s MID instead of each merchant having a separate one. The retailer is the “sub-merchant,” and the aggregator collects and allocates the funds for each company it represents.
• Digital wallet providers: These companies offer financial transaction apps for connected devices that securely store passwords and payment information. They deliver consumers the convenience of being able to shop without a credit or debit card in hand.
• Mobile payment providers: These businesses provide a specialized digital wallet explicitly made for mobile devices. For example, Apple users can store their payment information in Apple Pay and use their iPhone or iPad to make purchases online or on the go at contactless terminals.
• Peer-to-peer (P2P) payment providers: P2P payment providers like PayPal and Cash App make it easy to move money between individuals. When users send money, the P2P provider deducts it from a linked bank account. Once the recipient claims the funds, they can withdraw or use them.

 

Benefits of Using Payment Service Providers

• Simplified payment process: A PSP makes collecting payments a hassle-free experience for retailers and customers alike.
• Enhanced security and fraud protection: PSPs rely on robust security encryption tools and offer safeguards against payment fraud through features like verification.
• Accessibility and global reach: Many PSPs support selling in different currencies, so it’s easier for you to be accessible worldwide and establish a global market.
• Integration and compatibility: A PSP works with numerous technology partners in various industries to ensure its solutions integrate with common tools.
• Analytics and reporting capabilities: Built-in metrics and reporting help you understand your business’s unique transaction data and simplify reconciliation.
• Customer support and service: Well-regarded PSPs offer 24/7 technical support and around-the-clock customer service to ensure satisfaction.

 

Key Considerations When Choosing a PSP

Consider these factors when selecting the best PSP for your company:

• Business type and industry requirements: Not every PSP works with every retailer or serves all industries. List your organization’s unique needs to ensure a potential PSP partner can meet them.
• Payment methods and currencies supported: Your customers’ payment preferences and locations often dictate the options you want to offer. Choose a PSP supporting the forms you need and the currencies you sell in.
• Security and compliance measures: Accepting card transactions means following the Payment Card Industry Data Security Standards (PCI-DSS). Look for a PSP that heavily invests in secure technology and is PCI-DSS compliant.
• Transaction fees and pricing structure: Every PSP prices differently based on factors like transaction volume and payment type. Ensure pricing is clear and transparent to avoid potential billing surprises.
• Integration options and developer-friendly application programming interfaces (APIs): The ideal PSP solution for your business will work with your existing tools. Look for a partner providing numerous integrations and developer-friendly APIs for straightforward implementation.
• Reputation and trustworthiness: Working with a well-respected PSP is essential in such a dynamic industry. Choose a company with proven technology and expertise to keep pace.
• Customer support and service level agreements (SLAs): A reliable PSP will be invested in your company’s success. Ensure your provider offers ongoing support and a service level that meets your business’s needs.

 

Factors to Evaluate for Success

Multiple aspects contribute to your company’s successful PSP integration and implementation, like:

• Technical integration requirements: Does your current tech stack meet the technical specifications? Is an update or upgrade necessary?
• Testing and sandbox environments: Does the PSP offer a sandbox environment to test the technology so you can have more confidence in their viability with your processes? Are there any potential hiccups in the process to resolve before full implementation?
• Onboarding and account setup process: What support does the PSP offer during onboarding? How easy is it to establish your account?
• Compliance and regulatory considerations: Does the software meet your specific industry regulation needs? Will it automatically comply with future changes?
• Scalability and future growth potential: Can the PSP scale effectively as needs change? Do they offer support for future growth by helping you identify and implement new technologies and trends?

 

Choose CSG Forte

It’s more important than ever for your business to offer the payment acceptance methods your customers prefer. Doing so helps you stay competitive and resilient in a dynamic retail environment. CSG Forte is an award-winning payment services provider with a fully scalable and PCI-DSS-compliant payment platform. Our team has the expertise and resources to help you identify, implement and support the best solution for your needs.

Contact us for advice, or fill out the online application to open an account today.

ACH Versus Wire Transfer

Automated Clearing House (ACH) transactions and wire transfers are two types of electronic money transfers between financial institutions. These funds typically move between buyers and sellers and offer benefits over using physical checks. Several factors vary between the two payment methods and can make one option better than the other for your needs. Learning about the difference between ACH and wire transfers helps you choose the best payment method to optimize your cash flow and support your company’s future growth.

 

Understanding ACH Transfers

ACH transfers go through a centralized system overseen by the National Automated Clearinghouse Association (Nacha). Payers who have the recipient’s banking information can originate the transaction. Recipients can also place a request for payment with their bank and documented authorization to debit the payer’s account.

Banks enter the transaction information into the ACH network, which bundles them according to institution and sends them for processing several times daily. When the data aligns, the transaction receives approval and begins the settlement process.

Benefits of ACH Transfers

ACH is a preferred payment method for several reasons, including:

• Cost-effectiveness: ACH transfers are generally the most affordable electronic payment type.
• Simplicity and convenience: Originating or accepting an ACH payment is easy and quick.
• Lower error risk: There’s a reduced potential for error with less manual handling in ACH transfers.

Limitations of ACH Transfers

Using ACH transfers versus wire transfers may have some drawbacks, including:

• Longer processing time: Most ACH transactions settle in two to three business days, but some can take longer. To mitigate these timelines, CSG Forte offers same-day ACH settlement services to get your money to your account faster.
• Potential for insufficient funds: This situation results in an ACH return, for which the financial institution may charge the payer an insufficient funds fee. The recipient may also incur additional costs for ACH returns.

Common Use Cases and Industries for ACH Transfers

ACH transfers are common, with Nacha estimating the network helps process about 10 million transactions daily. Use cases and relevant industries include:

• Employee payroll via direct deposit
• Vendor payments that allow businesses to take advantage of prompt payment discounts
• Consumer payments that can help avoid late fees
• Account transfers to move user funds between different institutions, such as from a bank to a brokerage-held retirement fund
• Claims payments for insurance companies to reimburse members faster
• Taxpayer refunds from government revenue agencies

 

Exploring Wire Transfers

Wire transfers also go through clearing houses, with the organization determined by the funds’ destination. International wires typically route through the Society for Worldwide Interbank Financial Telecommunication (SWIFT), while domestic ones generally use the Clearing House Interbank Payments System (CHIPS).

A key difference between wire and ACH transfers is that only the sender can initiate a wire transfer.

Advantages of Wire Transfers

Benefits of wire transfers include:

• Speed and immediate availability: Funds settle more quickly than payments initiated via ACH. Once cleared, they’re immediately available for the recipient’s use.
• Global reach: Senders can transmit funds to any bank account worldwide. Financial institutions use the SWIFT code to identify the bank and an international bank account number (IBAN) to pinpoint the final destination.
• Higher security: Financial institutions generally place higher security protocols on wires due to fraud risks. These transactions may undergo additional controls, such as verification calls, to ensure legitimacy.

Drawbacks of Wire Transfers

Conversely, the cons of wire transfers include:

• Higher costs and fees: Wires are typically more expensive to send than ACH payments.
• Complex process and documentation requirements: Because more scrutiny surrounds them, wires can be more challenging to initiate.
• Extremely limited irreversibility once they’ve cleared: Except in cases of a bank error, it can be difficult to reclaim or reverse wired funds post-clearance.

Preferred Use Cases for Wire Transfers Versus ACH

Cases where a wire transfer may be ideal over an ACH payment include:

• Large transactions, such as commercial loan payoffs or corporate real estate acquisitions
• International transfers
• Small-volume or one-time transactions where the timing or amount justifies the higher costs, like residential property settlements

 

Key Differences Between ACH and Wire Transfers

Explore the primary differences between ACH payments versus wire transfers to make the most informed choice for your company:

• Processing speed: ACH transfers are less rapid than wire transfers, which can clear in just minutes.
• Costs and fees: While the average cost of an ACH transfer is between $0.26 and $0.50, bank fees for a wire can be up to $50.
• Transaction limits: Nacha has set the same-day ACH per-transaction limit at $1 million, and banks may also impose daily or transaction maximums.
• Security and risk: While financial institutions focus on wire transfer security, the highly irreversible nature inherently carries more risk.
• Domestic versus international transactions: The ACH network is ideal for intra-U.S. transfers, but sending funds globally typically requires a wire transfer.

 

Factors to Consider When Choosing Between ACH and Wire Transfers

There are numerous aspects to consider when choosing the best electronic payment method for your business’s transaction, including:

• Transaction urgency: Is the transaction’s settlement timing flexible? If so, the higher affordability of ACH may make it a better option to meet your needs.
• Transaction amount: Is the amount you’re transferring beneath the ceilings imposed by Nacha and your bank? ACH is a viable alternative for cases that are within the limits.
• Geographic reach: Is your recipient domestic or international? ACH is a preferred method for transfers within the United States.
• Security requirements: Is it possible to initiate the transaction through your online banking portal, or are you required to personally visit the bank? The heightened security surrounding wire transfers may pose a time investment, making it less convenient to use.
• Cost considerations: Is the transaction’s nature enough to justify the higher fees associated with wires? If not, ACH is the better choice for cost efficiency.

 

Case Studies of ACH Transfers

Our case studies are an ideal place to explore how CSG Forte helps businesses achieve more efficiency and better meet their customers’ needs. Read through examples like:

• Buildium: ACH services from CSG Forte helped this property management software company see an almost 40% year-over-year revenue growth through streamlined, cost-effective payment options.
• Priority Software: This respected software provider experienced a 115% annual revenue growth after implementing ACH payment solutions through our integrated technology.
• Rentec Direct: The digital property management solutions company has seen an average of 98% revenue growth and a substantial decline in late payments after integrating our ACH payment tools.

 

Choose CSG Forte for ACH Payment Processing

CSG Forte’s online payment processing platform is a scalable, simple-to-use solution for accepting these electronic payments. We’re an award-winning Nacha-preferred partner with industry-leading integrations and exceptional customer success support.

Contact us to get personalized advice for your business, or complete an online account application today.

How Can Your Business Use Text to Pay?

Late or missed customer payments can occur for a variety of reasons, including forgetfulness and not knowing a payment’s due date. Whatever the case, late payments can impact your company’s bottom line.

Fortunately, there is a proactive way to increase payment propensity through SMS—convenient reminders to pay via text messages delivered directly to your customer’s mobile phone. SMS messages outperform traditional communication methods, with a 42% open and read rate versus only 32% by email.

 

What Is Text to Pay?

Text to Pay is an approach to promoting payment through text message reminders. Using this service boosts your business’s efficiency and accuracy in payment capture. It’s also helpful for reducing paper waste and invoicing expenses.

These reminders are business-initiated messages to customers who have opted-in to receive SMS messages. The SMS messages display a secure, clickable link that automatically takes the user to the payment platform to easily complete their payment. For example, CSG Forte’s Text to Pay solution directs users to a secure webpage. Once the customer accesses the site, they can enter their details using our reliable payment-processing platform.

SMS payment reminders help facilitate quicker payments and allow your business to create a more seamless and enjoyable customer experience. Since the reminder link is accessible anytime and anywhere, these services can help your company avoid or reduce late or missed payments.

 

How Text to Pay Works

CSG Forte simplifies the process of sending SMS payment reminders:

1. Develop a dedicated opt-in site: Your customers must consent before you can send them text messages. We host an opt-in webpage that you can customize to meet your needs.
2. Configure your reminder messages: You can set up multiple notifications in our system. We’ll forward them on your behalf directly to your customers’ devices with the secure link to your mobile-friendly site.
3. Capture the payment: Customers enter their payment information once they follow the link. CSG Forte’s online payment processing platform collects and distributes the funds to your business.

 

3 Major Business Benefits of Text to Pay

Equipping your business with text payment reminders delivers substantial value in three primary ways.

1. Convenience

Smartphone ownership is prevalent today, with over 68% of the global population having access to mobile devices. The average U.S. user spends over three hours a day on their phone. As a result, businesses have more opportunities to reach their customers where they are. Doing so enables your company to collect payments sooner and more efficiently while providing the convenience that modern consumers expect.

With CSG Forte’s solution, you can increase customer convenience by adding multiple payment options, such as ACH debits and credit cards.

2. Higher Response Rates

Since customers are more likely to open their SMS payment reminders, they’re also more likely to act on them. This improved response rate compared to other communication channels helps you generate more payments faster.

3. Time Savings

It takes just moments to configure and deploy payment reminders by text, getting them in front of consumers more quickly than traditional methods. Using technology helps eliminate the manual invoicing process to save time. You’ll also spend less time on follow-up communication due to the increased payment propensity.

 

Industries and Use Cases for Text to Pay

Multiple industries can realize the benefits of Text to Pay, including:

• Retail and e-commerce companies wanting to simplify the payment process
• Service-based businesses, such as healthcare providers, salons and landscaping professionals
• Food and beverage vendors for home-delivery subscriptions
• Nonprofit organizations and fundraising campaigns

 

Security and Compliance Considerations

When choosing a Text to Pay solution, there are multiple security and compliance factors to consider, including:

• Data protection and encryption: Offer high data security and advanced encryption to inspire consumer confidence.
• Regulatory compliance: Follow the Payment Card Industry Data Security Standards (PCI-DSS) to accept credit or debit cards as an option.
• Customer information privacy: Draft a customer privacy policy and ensure it meets data privacy laws for the areas where your customers reside.

 

How to Implement Text to Pay in Your Business

Implement Text to Pay by following these steps:

1. Select a provider or platform: Select a provider or platform that will meet your business’s needs and is familiar with working with businesses of your size and/or in similar industries.
2. Integrate with existing systems: True integrations happen when you work with innovative developers focused on delivering solutions. Ensure the platform or provider you choose works with your current infrastructure.
3. Maximize success with best practices: Abiding by all industry privacy and permission laws is crucial when using a Text to Pay solution. Follow industry best practices to stay compliant.

 

Choose CSG Forte for Text to Pay Solutions

CSG Forte provides complete payment solutions for many industries via in-person, mobile and online channels. Our capabilities include customizable deployment for SMS payment reminders to help you achieve higher efficiency in your billing. This service is fully compatible with our other payment solutions covering the entire revenue cycle, from bill presentment to returns management. We individualize our approach based on your unique business needs.

Contact us to learn more about Text to Pay can benefit your business.

Start Making ACH Payments With CSG Forte

In today’s fast-paced digital world, the convenience and efficiency of electronic payments have made them increasingly prevalent. One such method gaining popularity is ACH payments. ACH, short for Automated Clearing House, refers to a network that facilitates the secure transfer of funds between bank accounts.

Below, we will explore the fundamentals of ACH payments and how to make one.

 

What Do You Need to Make an ACH Payment Online?

To make an ACH payment, you typically need the following information:

• Bank account details: You will need the bank account number and the routing number of the account from which the funds will be debited.
• Authorization: Depending on the nature of the ACH payment, you may need the recipient’s authorization to initiate the transaction. This is common for recurring payments or when debiting funds from another individual or business account.
• Payment amount: You must specify the amount of money you wish to transfer through the ACH payment.
• Payment purpose: Indicate the purpose of the transaction, whether it is for a bill payment, payroll, business transaction or another appropriate category.
• Payment processing method: Determine the method through which you will initiate the ACH payment—this can be done through online banking platforms, payment processors or specialized ACH service providers.
• ACH processing information: If you are initiating the ACH payment through a third-party service provider or a payment gateway, you may need to provide additional information such as the provider’s name, account details and any required authentication credentials.

 

Options for Making an ACH Payment

When it comes to making ACH payments, there are two primary methods—ACH debit and ACH credit:

• ACH debit: ACH debit involves initiating a payment by granting authorization to a recipient to pull funds from your bank account. This method is commonly used for recurring payments or one-time payments where you provide your bank account information to the recipient. Examples of ACH debit transactions include utility bill payments, mortgage payments and subscription fees.
• ACH credit: ACH credit involves pushing funds from your bank account to the recipient’s bank account. In this case, you are the one initiating the payment and providing the recipient’s bank account information. ACH credit payments are commonly used for various purposes such as payroll direct deposits, vendor payments and tax refunds.

 

How Do I Make an ACH Payment?

You can send ACH payments online via an ACH debit payment or an ACH credit payment.

 

How to Make an ACH Debit Payment

Follow these steps regarding how to do an ACH transfer via debit payment:

1. Gather recipient information: Collect the necessary recipient information, including the recipient’s name, bank account number and bank routing number.
2. Verify sufficient funds: Confirm that you have sufficient funds in your bank account to cover the ACH debit payment amount. Insufficient funds can result in declined transactions and potential fees.
3. Choose an ACH debit method: Determine the method you will use to initiate the ACH debit payment—you can do so through online banking, a payment processor or specialized ACH service providers. Check with your bank or chosen service provider to understand the specific process for initiating ACH debit payments.
4. Provide authorization details: Depending on your chosen method, you may need to provide the recipient’s bank account and routing numbers, along with the payment amount and any additional information required by the service provider or platform.
5. Initiate the payment: Follow the instructions provided by your bank or payment provider to initiate the ACH debit payment. This may involve logging into your online banking account, accessing the payment section and entering the necessary payment details.
6. Confirm and review: Before finalizing the transaction, review the payment details to ensure accuracy. Verify the payment amount, recipient information and any additional information required for the transaction.
7. Submit the payment: Once you have reviewed and confirmed the payment details, submit the ACH debit payment. The transaction will be processed, and the funds will be electronically debited from your bank account and transferred to the recipient’s account.
8. Record and retain documentation: Keep a record of the ACH debit payment, such as transaction confirmations, receipts or any other documentation provided by your bank or payment service provider.

 

How to Make an ACH Credit Payment

Follow these steps to make an ACH payment via credit:

1. Collect recipient information: Obtain the necessary information from the recipient to initiate the ACH credit payment. This data includes the recipient’s name, bank account number and bank routing number.
2. Verify your bank’s ACH credit service: Ensure that your bank supports ACH credit transactions. Not all banks offer this service to their customers, so it’s important to confirm beforehand.
3. Set up online banking or ACH service: If you haven’t already, enroll in online banking or an ACH service provided by your bank. This measure will allow you to initiate ACH credit payments conveniently.
4. Access the payment section: Log in to your online banking account or ACH service provider’s platform and navigate to the payment section or ACH transfer section.
5. Provide payment details: Enter the recipient’s bank account number, routing number, payment amount and any additional information required by your bank or service provider. Double-check the accuracy of the information to ensure the funds are directed to the correct account.
6. Review and confirm: Review the payment details before finalizing the transaction. Verify the payment amount, recipient information and any additional details you enter.
7. Initiate the payment: Once you have confirmed the payment details, submit the ACH credit payment request. Your bank or service provider will process the transaction and transfer the funds from your account to the recipient’s account.
8. Retain documentation: Keep documentation of the ACH credit payment for your records.
9. Follow up: If necessary, follow up with the recipient to confirm that they have received the ACH credit payment successfully.

 

ACH Payments vs. Direct Deposits

ACH payments and direct deposits are both electronic methods of transferring funds between bank accounts, but they differ in their purpose and the direction of the transaction.

Direct deposits are a specific type of ACH payment that refers to funds being electronically deposited into a recipient’s bank account, typically for the purpose of receiving income or funds owed. Direct deposits are commonly used for payroll deposits, government benefit payments, tax refunds, pension payments, and other regular or recurring income streams.

Direct deposits are always initiated as ACH credits, with funds pushed into the recipient’s account. The payer, such as an employer or government agency, initiates direct deposits to the recipient’s designated bank account. Recipients often need to provide their bank account and routing numbers to the payer to set up direct deposit.

Key differences between ACH payments and direct deposits include:

• Purpose: ACH payments encompass a broader range of electronic fund transfers, including both payments and receipts, while direct deposits specifically refer to receiving funds into an account.
• Direction: ACH payments can be either ACH debit, which involves pulling funds from the payer’s account, or ACH credit, which involves pushing funds to the recipient’s account, whereas direct deposits are always ACH credit payments.
• Usage: ACH payments are more versatile and can be used for various purposes, while direct deposits are primarily used for recurring income or benefit payments.

 

Accepting ACH Payments From Customers

Accepting ACH payments from customers can provide convenience and flexibility for your business. Here’s an overview of the steps involved in setting up and accepting ACH payments:

1. Verify ACH payment support: Ensure that your business has the capability to accept ACH payments. Contact your bank or payment service provider to confirm if they offer ACH payment processing services. If not, explore alternative solutions such as third-party payment processors or specialized ACH service providers.
2. Obtain authorization: Before initiating ACH payments from customers, you need to obtain proper authorization. This can be done by having customers sign an authorization agreement or including authorization clauses in your terms and conditions.
3. Collect customer information: Gather the necessary information from your customers to process ACH payments. This typically includes their bank account number, routing number and authorization to debit their account. Consider using secure methods to collect and store this sensitive information.
4. Set up payment processing system: Set up a payment processing system that supports ACH payments. You can complete this step using your bank’s online banking platform, a payment gateway or a specialized ACH payment processing service.
5. Integrate the ACH payment option: If you have an online store or payment portal, integrate the ACH payment option to provide customers with the choice to pay via ACH. Work with your web developer or payment service provider to enable ACH as a payment method.
6. Educate customers: Clearly communicate to your customers that you accept ACH payments. Update your website, invoices and other communication channels to inform customers of this payment option. Provide instructions on how they can provide their bank account information and authorize ACH payments.
7. Process ACH payments: Once customers provide their authorization and necessary payment information, initiate the ACH payments through your chosen payment processing system. Follow the instructions provided by your bank or service provider for initiating ACH debit transactions securely.
8. Monitor and reconcile payments: Regularly monitor your ACH payment transactions and reconcile them with your records. Keep track of successful payments, failed transactions and any necessary follow-up actions, such as resolving insufficient funds or other payment issues.
9. Ensure security and compliance: Protect customer data and maintain compliance with applicable regulations. Implement security measures such as encryption and access controls to safeguard customer information.

By offering ACH payment options to your customers, you can streamline payment processes, reduce reliance on paper checks and make it easier for people to do business with you.

 

Choose CSG Forte to Learn How to Make an ACH Payment

ACH payments have revolutionized the way businesses and individuals handle their financial transactions. Offering convenience, cost savings and enhanced security, ACH payments have become a preferred method for many individuals and organizations. As technology continues to advance, ACH payments are likely to play an increasingly significant role in our digital economy.

Contact the team at CSG Forte to learn more about how to make an ACH transfer.

How to Set up a Merchant Account

If you want to accept electronic payments from customers, you may need to set up an online merchant account. Whether you’re running an online store, a brick-and-mortar business or a combination of both, having a merchant account enables you to process credit card and other electronic payment transactions securely and efficiently.

Below, we cover what you need to know about how to open a merchant account.

 

6 Steps to Open a Merchant Account

Opening a merchant account is an essential step for businesses to accept electronic payments. Here are six key steps to setting up a merchant account:

1. Determine your business needs: Assess your business requirements, including the expected transaction volume and the types of payments you want to accept, such as credit cards, debit cards and mobile payments. You should also consider whether you accept payments online, in-store or both. Understanding your needs will help you choose the right merchant account provider.
2. Research merchant account providers: Conduct thorough research to identify reputable merchant account providers that align with your business needs. Compare factors like pricing, transaction fees, contract terms, integration options, security measures, customer support and industry reputation. Consider reading reviews and seeking recommendations from other business owners as well.
3. Complete the application: Once you’ve selected a merchant account provider, complete the application process. You’ll typically need to provide information about your business, such as its legal name, contact details, industry type, average transaction amount, tax identification number and estimated monthly sales volume. Be prepared to submit supporting documents like identification, bank statements, business licenses and financial statements.
4. Underwriting and approval: The merchant account provider will review your application and perform underwriting to assess the risk associated with your business. This process verifies your operation’s legitimacy, financial stability and compliance with industry regulations. The provider may request additional documentation or clarification during this stage. Once approved, you’ll receive a merchant identification number (MID) or an approval notice.
5. Setup and integration: After approval, work with your merchant account provider to set up the necessary payment processing infrastructure. This typically involves integrating payment gateways or APIs into your website, point-of-sale system or mobile app. Your provider will guide you through the integration process and provide instructions on configuring the payment processing settings.
6. Test and go live: Before accepting live transactions, thoroughly test your payment processing setup to ensure everything works correctly. Perform test transactions using various payment methods, such as different card types or test payment credentials provided by your merchant account provider. Verify that transactions are processed accurately and funds are correctly deposited into your designated bank account. Once testing is successful, you’re ready to go live and start accepting real customer payments.

 

What Types of Merchant Services Do You Need?

When setting up a merchant account, you’ll typically need various merchant services to facilitate electronic payment processing and manage your business transactions. Here are some essential types of merchant services you may need:

• In-person: In-person merchant services refer to the suite of services, tools and hardware provided by financial institutions and payment processors to facilitate payment transactions that take place physically, usually at a brick-and-mortar store or in a face-to-face interaction between a business and its customers. These services are designed to enable operations to accept various forms of payment, process transactions securely and manage their point-of-sale (POS) operations effectively.
• Mobile: Mobile merchant services are a type of payment processing solution that enables businesses to accept payments through mobile devices, such as smartphones and tablets. These services leverage the convenience of mobile technology to facilitate transactions on the go, without the need for traditional POS systems or dedicated hardware.
• E-commerce: E-commerce merchant services are a set of solutions and tools provided by financial institutions, payment processors and third-party service providers to facilitate online transactions for businesses engaged in e-commerce. These services enable businesses to accept payments securely through their online platforms or websites.
• IVR: Interactive Voice Response (IVR) merchant services refer to a type of telephone-based payment processing system that allows customers to make payments and conduct transactions through an automated phone system. IVR systems use voice prompts and keypad responses to guide customers through the payment process.

 

Completing the Merchant Application

Completing a merchant application is a crucial step in setting up a merchant account. With our online application, you can start accepting card and ACH payments. If you need hardware or a more complex POS system, contact our sales department and we’ll guide you through the additional steps. Here are some key considerations and steps to help you navigate the process:

1. Gather required information: Before starting the application, gather all the necessary information and documents you’ll need to provide. At CSG Forte, we require your business’s legal name, address, contact details, tax identification number, ownership structure and business type. You will also need to provide financial information, including your routing number and account number for your business checking or savings account.
2. Fill out the application form: Start the application process by accessing our application form. Take care to complete each section accurately.
3. Contract review and agreement: Review the Merchant Service Agreement (MSA) carefully to ensure you understand our transaction processing services, pricing, limits and terms.
4. Review and submit the application: Once you have completed the application form, carefully review the entire application for accuracy. Double-check that all fields are filled out correctly and that you have agreed to the MSA. Once reviewed, submit the application.
5. Follow up and provide additional information: After submitting the application, we may contact you for further information or documentation if needed. Please stay responsive and promptly provide any additional details or clarifications we may request, as this helps expedite the underwriting process.

 

Choose CSG Forte for Merchant Solutions

At CSG Forte, we offer numerous merchant solutions and plenty of excellent reasons why you should choose us for your operational needs:

• Robust payment processing options: We provide a wide range of payment processing options, including credit card processing, debit card processing, ACH payments and electronic check processing.
• Advanced security features: We prioritize security and offer advanced fraud detection and prevention measures to safeguard transactions and sensitive customer data.
• Integration capabilities: We offer integration with various e-commerce platforms, POS systems and shopping carts, making it easier for you to seamlessly incorporate your payment processing solutions into your existing systems.
• Responsive customer support: We prioritize providing excellent customer care, including dedicated account managers who can assist with setup, ongoing support and troubleshooting.

Contact the experts at CSG Forte to learn more about how to set up a merchant account or get started with our merchant solutions today.