Here’s a Way to Keep More of Your Profits and Grow Your Business
For the past dozen years or so, Commonwealth Consulting Group has been supporting businesses with the credit card processing equipment and services they need to be successful, so we know what every business owner knows: accepting credit cards leads to increased sales. But we also know that means our customers have to bear the cost of maintaining a merchant account and processing credit card transactions. That comes with hefty fees that eat into your profits.
What if we told you there is a way to satisfy your customers who enjoy the convenience of using their credit card and still pay less for processing credit card transactions so you can keep more of your profits
Welcome to cash discounting! A cash discount program offsets the cost of credit card processing fees by encouraging customers to pay in cash. When a customer chooses to pay in cash, your system applies a small discount of up to 4% to the product or service price. Customers love a good discount, and there is no easier way than this – they simply have to pay with cash.
If the customer opts to pay with a credit or debit card, our upgraded POS terminal calculates and includes the card processing fee for the transaction. The customer receipt clearly displays the adjustment for not opting to pay with cash and receive the discounts. This message is reinforced with a sign displayed at your register informing your customer that if they pay with cash, they are afforded a discount. If they choose to pay with a credit card, the discount will not be applied.
It’s important to understand that a cash discount is not the same as a credit card surcharge, where the cost of processing is added to the regular price at checkout if the customer uses a credit card. Cash discount programs are legal in all U.S. states and territories as long as all compliance requirements are met.
That’s where Commonwealth Consulting Group comes in. We can help you implement a fully compliant cash discount program. With our free POS terminals and upgraded software, credit card processing fees will be included in the transaction when your customers pay with a credit card. We can also provide you with the required signage to display at your register and inform your customers of their options.
Interested? Let’s chat.
We’d love to tell you more about how other CCG customers are already using the simple, clear payment solutions we can provide. Give us a call today at 800.866. 3944, or email us at info@ccgpays.com and we’ll get you started saving money on your monthly credit card processing fees.
MA rolls out SNAP Restaurant Meals Program Pilot – Applications open through August 31 for local restaurants and food trucks
The Baker-Polito Administration has opened a Notice of Opportunity (NOO) to strategically onboard restaurants and food trucks for the Supplemental Nutrition Assistance Program (SNAP) Restaurant Meals Program (RMP) pilot.
The Restaurant Meals Program is a state option to allow certain SNAP clients, who might not be able to prepare meals for themselves or who do not have permanent housing for storing and preparing food, to be able to buy prepared meals at restaurants with their SNAP benefits.
Any restaurant or food truck can apply for the pilot if: they are locally- and privately-owned; not part of a restaurant conglomerate or multi-unit chain (including franchises); provide counter-based service and payment, and meet the reduced-price meal requirement. Reduced price options must not be exclusive to SNAP clients to prevent possible unequal treatment of clients.
Some ways to meet the requirement include consistently offering a reduced-price meal (e.g., value menu, daily lunch special, early bird special) offering a rewards program (e.g., free meal after a certain number of purchases), or reducing all menu items by a flat percent.
SNAP clients who are eligible to participate in this program will have an Electronic Benefits Transfer (EBT) card that has been coded by the state to allow their cards to be accepted at participating restaurants. An EBT card will automatically be declined if the SNAP client is not eligible.
Participating restaurants and food trucks must have a point-of-sale (POS) device that is programmed to accept EBT cards. If it's not already a feature, Commonwealth Consulting Group can help you add EBT to your service.
Applications are being accepted through August 31, 2022. Businesses will be evaluated on a multitude of criteria, including their ability to service SNAP clients with disabilities and their commitment and ties to their local communities.
The Administration anticipates the option for clients to use their benefits at approved businesses will begin in the fall of 2022. Learn more about the NOO and RMP program at Mass.gov/SNAPRestaurants.
Note: SNAP RMP's are already available in Maryland (Mischelle A. Williams, Director | Email: mischelle.williams@maryland.gov | Phone: 410-767-5504) and Rhode Island (Providence and Washington Counties Only | Bethany Caputo | Email: Bethany.caputo@dhs.ri.gov | Phone: 401-559-7077)
Is BNPL an option for your business?
One of the merchant service trends you may have seen popping up all over the place lately is the process of spreading payments for products and services over a longer period of time. Though it’s not for everyone, “buy now, pay later,” or BNPL, is an idea whose time has come of age for many merchants and your customers.
According to the industry news website pymnts.com, “BNPL is now a growth industry worth more than $125 billion, with projections to grow to $3.3 trillion by 2030,” fueled by consumer awareness of the payment option, economic pressures, and aversion to high-interest rates associated with other credit products.
Many BNPL users see it as a budgeting tool with an opportunity to avoid interest payments. Under this system, the BNPL provider places a hold against an existing credit card for the full amount, but only charges the installment payments, reducing the hold as the payments are made. This approach removes the need for credit checks and can shorten the BNPL application process while permitting consumers to benefit from the high credit limits they have earned without the downside of interest payments and high APR.
If you’re a merchant in a service industry – e.g., auto repair, HVAC, IT, CPA firms, legal services, medical or dental services – you could be losing out on customers who delay using your services because of high cost. BNPL might just be the ideal solution to bring those customers back to the table.
Pay-over-time financing allows service professionals to get paid upfront and in full while helping your clients manage their expenses. You’ll spend less on collections and close faster with prospects.
Commonwealth Consulting Group has the resources right now to help service industry clients get set up right away to easily accept BNPL, along with ACH/eChecks, credit cards, and financing plans all through a simple, secure, and easy-to-use payment portal. Talk to your sales rep for more details or call us at 800-866-3944.
Help! My E-Commerce Site is Attracting Fraudsters!
Increasingly, we're being asked by our clients for help in protecting their e-commerce sites from hackers. One constant that repeats in these attacks is the use of bots to quickly rotate through a list of stolen credit card numbers until the bot finds one or more that are active and have not yet been reported as stolen. As a result, we've come up with a standard list of recommendations that clients can use to add one or more layers of protection to their sites.
Add CAPTCHA
You've no doubt come in contact with CAPTCHA before in your own online transactions. CAPTCHA is an acronym for Completely Automated Public Turing test to tell Computers and Humans Apart. Put another way, it's a simple challenge that bots can't solve but real humans can easily figure out. If you want to keep bots away from your login, registration, and other important pages while allowing your customers to proceed in confidence, adding CAPTCHA is a good idea.
CAPTCHA is available in a number of different varieties, some more secure than others. The most common and widely used is the Image CAPTCHA where users have to choose the right image box(es), such as those that contain a traffic light.
Another that you've likely used is the Text CAPTCHA where you need to enter and submit the letters or word shown to continue. If the letters are entered incorrectly, the system will not advance and a new set of letters will be shown.
Audio CAPTCHA is a more secure, but less common variety that requires the user to listen to an audio file then enter and submit the words or numbers they hear. The most challenging and most secure form is the Math CAPTCHA where users need to solve a simple calculation in order to continue.
Add a Card Velocity Filter
Card velocity checking is a process that lets you recognize patterns of normal use and those that may indicate fraud. For example, if a single customers places multiple orders in a single day, it may not be unusual but a velocity checking filter would allow you to set the number of transactions allowed on any given day or alert you to call or email a customers to confirm that they actually placed multiple orders before processing payment.
Add Address Verification Service (AVS) and Card Verification Value (CVV)
AVS and CVV are systems that check the address and numerical code information provided by the customer against the information on file with the bank or credit card company that issued the card. AVS and CVV are additional obstacles for a fraudster to get past, but they're best when used in combination with other methods of fraud detection.
Add Transport Layer Security (TLS) Certificate
TLS is a security protocol for transmitting data online to facilitate end-to-end communications and online transactions. It ensures encrypting of data for communicating between web-based applications and servers. A TLS certificate is a kind of digital certificate (or public key certificate/ identity certificate) issued by the Certificate Authority. The certifying authority authenticates the certificate by signing it, certifying that it belongs to a particular domain name which is the subject of the certificate. A TLS certificate consists of a public key and a private key that interacts behind the scenes during the transactions. They ensure secure encryption when someone visits a website.
You can rely on your Commonwealth Consulting Group representative if you need help adding one or more of the above security features. Just give us a call and we'll be happy to assist you!
What is a non-cash adjustment and is it right for my business?
What is a cash discount program?
Is a cash discount program the right choice for my business?
Can I offer the cash discount program in my state?
Is cash discounting the same as a surcharge?
“A cash discount is a reduced price paid by customers who use cash or check rather than a credit or debit card. A surcharge is an extra charge that applies to customers who pay with a credit card rather than other forms of payment, including debit cards, cash and check.”
How do I implement a cash discount program?
Ready to take the next step?
If it's good enough for Gillette Stadium, it should be great for your business!
Think you can’t run your business end-to-end on a handheld device? Think again.
Our Flex system from Clover is a full-fledged point of service terminal and business management system, the ideal all-in-one device that offers built-in capabilities to accept payments, conduct business, and track sales all from the palm of your hand. We were at Gillette Stadium over the weekend and we were impressed to see this hand-held unit in use throughout the park.
With Flex, your customers can pay how they want to pay. Swipe, dip, or tap. Credit or debit. NFC payments including Apple Pay, Google Pay, WeChat Pay, Alipay, and more. Flex comes ready for Rapid Deposit so you get your money faster, and you pay the same low rates for all cards, including AMEX and rewards cards.
Concerned about security? Flex protects your business and customer information with end-to-end encryption and data tokenization, integrated EMV chip sensors, and fingerprint logins.
What’s more, Flex helps you keep your inventory up-to-date with categories, labels, modifiers, and variants so you stay organized.
It’s everything your business needs in one simple, smart, reliable device. You can start taking orders straight out of the box with minimal set-up and training. But not to worry, we’re here to help you with everything from setting up to troubleshooting.
It may be handheld, but Flex gives you the same raw power as larger devices to configure your business the way you need to run it. Wi-Fi and LTE connectivity and a lithium-ion battery give you no-fail redundancy, and since you’re in the cloud, your business travels with you everywhere. All your data, all your info, always at your fingertips.
Have we sparked your interest? Give us a call and we’ll be happy to get you started.
It's Time to Protect Your Business from Growing E-Commerce Fraud
The Covid-19 pandemic of the past year created an increase in the number of online customers as business owners closed, or limited access to their brick and mortar locations and migrated online, sometimes just to survive.
To no one’s surprise, the surge in online activity was accompanied by a major increase in the amount of e-commerce fraud. A recent study from Juniper Research* predicts those losses will total $20 billion in 2021, an 18% increase over fraud-related losses in 2020.
Cyber attackers acquire credit card information along with credentials and go on a shopping spree that costs merchants thousands in lost merchandise and chargeback fees when the order is later marked as fraud.
Here at Commonwealth Consulting Group, we’ve seen local reports of businesses experiencing as many as 150,000 - 300,000 transactions an hour in fraudulent sales resulting from automated threat actors using batches of stolen credit cards.
It's Time for Increased Security Measures
We’d like to urge our clients to work with your website developer to re-evaluate your e-commerce security, determine where you might be most vulnerable, and consider adding one or more extra layers of security checks to your payment platform.
One such security measure would be a CAPTCHA test (see below) that helps your e-commerce platform distinguish between real customers and computer BOTS, such as Google reCAPTCHA, or a WordPress CAPTCHA plugin.
What is Captcha?
A CAPTCHA (Completely Automated Public Turing test to tell Computers and Humans Apart) is a type of challenge–response test used on a variety of websites that want to verify that the user is not a robot. The most common type of CAPTCHA requires someone to correctly evaluate and enter a sequence of letters or numbers perceptible in a distorted image displayed on their screen. The CAPTCHA test helps identify which users are real human beings and which ones are computer programs or BOTS. CAPTCHA works because computers can create a distorted image and process a response, but they can't read or solve the problem the way a human must to pass the test.
Fraud Filters Can Help Protect Your Business
There are many other types of fraud filters you can set up, but some of the more common ones include:
• A daily or hourly velocity filter that controls how many sales may be submitted to your website over a certain period of time. This helps prevent fraudsters from testing credit card numbers after purchasing lists of stolen cards.
• An address verification system (AVS) where you set your fraud filters to decline or require review for orders where the billing and shipping addresses don’t match.
• A card verification value (CVV) filter that looks for discrepancies between a card’s CVV number and the one entered during checkout.
• A purchase amount filter that requires you to review all transactions that fall outside a certain range. Since most businesses know their typical transaction size, you can set the filter to alert you when a transaction is higher or lower than this amount.
Clear Messaging Reassures Your Customers
Remember, enhanced security measures are just as important for customer protection as they are for your business. Be sure to include clear messaging to let your customers know why you’ve increased security at checkout. That should go a long way toward preventing cart abandonment while lowering fraud risks.
* Morrow, Susan, and Nick Maynard. “Online Payment Fraud: Emerging Threats, Segment Analysis & Market Forecasts 2021-2025.” Research Report | Fintech & Payments, Juniper Research, 26 Apr. 2021, www.juniperresearch.com/researchstore/fintech-payments/online-payment-fraud-research-report/subscription/emerging-threats-segment-analysis-market.
Introducing CCGConnect
Commonwealth Consulting Group (CCG) is branching out. We have rolled out a new turnkey solution for software developers called CCGConnect that allows business applications, such as point-of-sale (POS) systems or electronic cash registers ECRs) to integrate in-store (card present) payments.
According to CCG principal, Keith Reardon, “most software companies have to spend a lot of time and resources to implement EMV chip-card transactions into their system. This type of semi-integration and PCI certification can sometimes take months, but with CCGConnect, a software company can copy and paste our coding into their system, pair a terminal, and run a test transaction in under three minutes.”
CCGConnect is delivered in the form of a software development kit (SDK) that bundles everything developers need for the software application to integrate with both current and next-generation payment terminals while remaining outside of PCI-DSS scope. The system also offers cross-border coverage; a single integration can serve merchants in both the United States and Canada.
“By integrating CCGConnect into an application,” says Reardon, “developers can eliminate the lengthy certification processes and get to market faster.” The system offers out-of-the-box connectivity with pre-certified payment terminals and no coding is required when new terminals are added.
Once copied into an application, CCGConnect automates the discovery of semi-integrated payment terminals on a merchant’s local network and establishes any required pairing. After a pairing is established, the SDK is responsible for orchestrating the flow of payment operations between the application and payment terminals. All merchant and cardholder-facing screens are provided.
For more information, click on the Developers tab.
Don't leave money on the table in the Visa Mastercard Settlement
One thing is certain in the $6.24 billion settlement to provide payments to merchants who accepted Visa and Mastercard at any time from January 1, 2004 to January 25, 2019: if you do not file a claim, you will get no money.
This class action lawsuit is principally about the interchange fees attributable to merchants that accepted Visa or Mastercard credit or debit cards between January 1, 2004 and January 25, 2019, and Visa’s and Mastercard’s rules for merchants that have accepted those cards.
When a cardholder makes a purchase with a credit or debit card, there is an interchange fee attributable to those transactions, which is usually around 1% to 2% of the purchase price.
Interchange fees typically account for the greatest part of the fees paid by merchants for accepting Visa and Mastercard cards. Visa and Mastercard set interchange fee rates for different kinds of transactions and publish them on their websites, usually twice a year.
In a class action, people or businesses sue not only for themselves, but also on behalf of other people or businesses with similar legal claims and interests. Together all of these people or businesses with similar claims and interests form a class, and are class members.
In the Visa and Mastercard class action suit, the Court has not decided which side was right or wrong or if any laws were violated. Instead, both sides agreed to settle the case and avoid the cost and risk of trial and appeals that would follow a trial. In this case, the settlement is the product of extensive negotiations, including mediation before two experienced mediators, chosen by the parties.
Settling this case allows class members to receive payments. You are a member of the class action and entitled to receive payment that is proportionate to the volume of interchange fees you paid between January 1, 2004 and January 25, 2019, but only if you file a claim.
As of today, the Court has still set no deadline for filing, but one is surely on the horizon. If you have taken no action to guarantee your participation in this class action suit, Commonwealth Consulting Group cannot file a claim for you, but our partners at Financial Recovery Strategies (FRS) can. What CCG can do, especially if you’ve been our client for quite a while, is to help you assemble all of the information you need to provide to FRS in order to file your claim.
Meet our partner, Financial Recovery Strategies
Although CCG is not permitted to file your claim on your behalf, you may retain the services of our partner, Financial Recovery Strategies (FRS) to help manage your claim and assist in getting back the money you overpaid. FRS is a class action recovery and cost savings firm that specializes in, among other services, class action settlement claims recovery; they are not a court-appointed claims administrator or class counsel. As such, FRS is paid on an agreed-upon contingent-fee basis only upon and from the recoveries they obtain.
How do I retain FRS to help manage my claim?
If you would like to engage Financial Recovery Services, please visit their dedicated portal by CLICKING HERE FOR THE ONLINE AGREEMENT. On that web portal, you may retain FRS by first completing the required fields and submitting the form. This will generate an email with an agreement and an authorization to file your claim. Both of these documents may be signed electronically. FRS will then work with Commonwealth Consulting Group to submit the required documents and information to obtain your recovery.
Note: After you click “Submit” on your online form, you will receive an email from Harris Love, EVP at FRS within moments. If you do not receive the email, please check your SPAM or Junk Mail folder and it should be there to finalize the process.
Do I have to use FRS to file my claim?
No. Class members have the right to file on their own. You should have received an official claim notice in the mail with details about how to register for your settlement. If you didn’t receive your notice, or if you moved your business to a new location, you may request a new notice by submitting a form HERE.
Questions?
This should pretty much sum it up for you, but if you’d like to go straight to the source for additional information, please use the links below.
Helpful Links:
Settlement Website
Official FAQ
Official Notice
Note: No claim forms are available at this time, and no claim filing deadline has been set. Class members have the right to file on their own. No-cost assistance will be available from the Class Administrator and Class Counsel during the claims-filing period. As set forth in FRS’s Class Action Summary, FRS believes that it provides services that could increase a class member’s potential recovery and that are unlikely to be provided by the Class Administrator or Class Counsel. For additional information, class members can visit the court-approved website at www.PaymentCardSettlement.com, or contact Class Counsel or the Class Administrator.
Safe Methods for Cleaning Your ATM and Credit Card Terminal
We’ve been hearing reports from some of our customers about the increased involvement of local boards of health and state health agencies in requiring cleaning of ATM and credit card terminal keypads between sales, so we wanted to offer some thoughts about the most effective way to go about meeting these requirements. If you haven’t already done so, we suggest that you visit the Center for Disease Control and Prevention (CDCP) for updated guidance for core disinfection/cleaning, disinfection of electronics, cleaning and disinfection of soft (porous) surfaces, and the timing of disinfection after a suspected/confirmed COVID-19 case.
Cleaning Best Practices
The recommended best practice to prevent COVID-19 and other viral illnesses in public areas and commonly used surfaces includes cleaning the area of any visible dirt followed by a thorough wipe down with a disinfectant.
But, remember that your ATM and credit card terminal don't take well to moisture. CCG can steer you to products, such as keypad covers, and sanitizers that take easily to repeated cleanings without damaging the inner workings of your machine.
Recommended ATM Cleaning Procedures -
ATM Cleaning DO's:
DO: wear protective gloves when cleaning ATMs.
DO: apply 70% isopropyl alcohol to a cotton or non-abrasive microfiber towel then wipe ATM screens. Follow up with a dry towel to remove streaks.
DO: clean the ATM fascia and keypad with disinfectant wipes or spray, or 70% isopropyl alcohol.
DO: apply disinfectant spray or 70% isopropyl alcohol on a microfiber towel or non-abrasive pad first, when using in place of disinfectant wipes, then wipe down the keypad and fascia.
DO: make sure cloth is damp with cleanser before cleaning.
ATM Cleaning DONT'S:
DON'T: apply 70% isopropyl alcohol directly onto the ATM screen - always apply to non-abrasive cloth or pad first.
DON'T: spray cleaners or 70% isopropyl alcohol directly onto any part of the ATM.
DON'T: power down ATMs first before cleaning, it is safe to leave them powered on during cleaning process.
DON'T: spray or apply 70% isopropyl alcohol directly on keypad - it will gradually weaken the plastic.
DON'T: soak cleaning cloths with cleanser before wiping down ATM.