Adding EMV-Compliant Retail Transactions Is Easier When You Have The Right Payment Management Platform

in Blog
on Thursday, 30 June 2016 15:28

Are your needs related to credit card processing expanding? If you've been working with card-not-present or recurring payments and now need to expand into retail credit card processing, you'll face issues and challenges but you can overcome them with the right EMV-compliant payment management platform.

Whether your company is a payment facilitator that provides payment services to other businesses or a business that uses them, the key to moving from batch only to retail transactions is having a system that's up to the task.

Retail payment processing adds a set of complications that doesn't exist when dealing only with recurring payment processing. An old system designed for card-not-present transactions may not be able to expand to handle individual card-present transactions. But for companies that need a retail component as well as ecommerce processing, a solution that meets both of those needs is crucial to success.

Moving Beyond Subscription Billing Services

The demand from customers that payment facilitators expand from only offering subscription billing services to offering a retail component is growing. While offering only batch processing services and recurring billing services may have been good enough in the past, many of today's businesses are bricks-and-mortar operations that also sell physical merchandise.

One example is a fitness center that collects recurring dues online but also sells clothing, food and dietary supplements at physical locations. In addition, the company may want to collect past-due payments and prepayments at its physical locations.

If your company or the company that serves your payment processing needs can't handle EMV-compliant card-present transactions as well as ACH payments and other needs beyond batch processing, there's no choice but to turn to third-party solutions which add more bookkeeping and administrative hassles.

Smart businesses work with aggregators or payment facilitators that can meet all their needs, not just some of them.

Meeting Today's Needs From Batch To Retail

If your company is a software provider or payment facilitator and isn't meeting all your customer's needs, you have many things to consider. Foremost among them is this: can you stay with your current processor and meet all needs? You must work with a processor that can handle ecommerce and recurring payments as well as EMV-compliant retail payments. Many older systems simply can't handle everything or can't meet all needs with ease and grace. The logic may be too old or too simplistic.

If you're a business needing your needs met better than ever before, how can you place your trust in a company that can't meet all your needs? When the company that handles your payments isn't responding to the modern marketplace, it's time to move on.

If you're ready to add a retail processing component to your recurring payment system, it's time to switch to a robust and standardized payment management platform like the UniPay gateway from United Thinkers.

At PayVisors, we work as a business consulting company helping businesses and those who serve them solve their current problems and function better than ever before. We can help you find solutions that keep you from being held back or held hostage by old technology that no longer lives up to your expectations.

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