“There are always a lot of very bright people in banking and bankcard,” notes Bob Hammer, CEO of R.K. Hammer. “That’s a good thing, since the competition for every new and existing customer’s business is world-class and relentless. Given the economy, growing regulatory oversight, the myriad choices for consumers today, and changing laws, we certainly…
Chase Paymentech launched its new “Future Proof” terminal, allowing merchants to accept current and quickly emerging forms of customer payments all in one streamlined device. Accepting EMV (Europay, MasterCard, Visa) chip cards, as well as phone-based mobile wallets and other forms of contactless payment – while maintaining a commitment to security, convenience and the current value of traditional card acceptance, the Future Proof terminal is available through Chase’s bank branch network and at www.chasepaymentech.com and is designed for a wide variety of merchants and offers unmatched flexibility in payment acceptance. Merchants can now accept- in addition to magnetic-stripe payment cards- EMV-enabled chip cards, which are less susceptible to counterfeit and other forms of fraud, offering greater security and more streamlined processing; mobile wallets, which will help businesses in the future establish two-way communications with customers, building loyalty and unlocking new business opportunities; and Contactless payments.
The holiday season has come to a close and it has been another record season for 50 of the leading U.S. online merchants a part of Chase Paymentech’s Cyber Holiday Pulse Index. From November 1 to December 31, transactions were up 37%, sales were up 25%, and average tickets declined 9% year over year. For the full month of December, transactions were up 35% and sales were up 22% from December 2010. By analyzing the actual payment activity for 50 top ecommerce retailers, the Pulse Index is a valuable tool for spotting several key online shopping trends. For example, the index has demonstrated a trend toward smaller average ticket values over the past few years. While it’s clear that the recession drove that trend for a couple of seasons, last year the data linked smaller tickets to the growing demand for digital media such as music and, more recently, ebooks.
December 12th-18th was the busiest seven day period of the season for 50 of the leading U.S. online merchants that are part of Chase Paymentech’s Cyber Holiday Pulse Index. With high volumes throughout the week, transactions actually exceeded Cyber Week (November 28th-December 4th), with approximately 4.6 million more transactions settling this week than during Cyber Week. Although growth rates are slowing from early season peaks, sales for last week were 20 percent above the same period in 2010. Most online retailers had announced December 19th or 20th as the last day for guaranteed delivery, and last minute shoppers raced to make their purchases. The Pulse Index indicates year over year sales growth of 25 percent and transaction growth of 36 percent. Average tickets remain down 8 percent.
Chase Paymentech merchant acquirer and payment processor announced season to date results from its “Cyber Holiday Pulse Index,” including Black Friday and Cyber Monday. Offering an inside look at consumer online shopping trends for these key shopping days and throughout the holiday shopping season, the Pulse Index tracks sales and transactions for 50 top e-retailers, showing a 24% increase in sales and a 36% increase in transactions over the same period last year. On November 29, the Pulse Index set a single-day record for both transactions and settled sales with transactions up 37% since the year ago period. Transactions are up 40% while sales are up 26% but ticket values fell 9% from last year.
Retail Council of Canada (RCC) has renewed its exclusive agreement with Chase Paymentech as its provider of payment processing solutions to RCC’s membership of more than 45,000 store fronts. RCC members can access new preferred credit and debit card processing rates, emerging products and industry expertise from Chase Paymentech. Advantages to RCC members processing with Chase Paymentech offer exclusive Interac, VISA and MasterCard rates; consultation with a Chase Paymentech merchant services provider that understands unique retail-specific payment needs; and simplified payments with one provider and one statement for Visa, MasterCard and Interac transactions.
Chase Paymentech merchant acquirer and payment processor launched the sixth annual edition of its “Cyber Holiday Pulse Index,” offering an inside look at consumer online shopping trends for the key shopping days Black Friday and Cyber Monday. This year it indicates ecommerce shoppers are already diving in, with the first two weeks of November showing online sales up over 25% from the year ago period. Average ticket value, however, are currently down over 9% but 2011 annual online sales so far are up an estimated 17% in the first half. Given this, the 2011 shopping season is shaping up to be quite the performer.
Chase Paymentech research concluded the key to maximizing online shopping cart conversion rates is keeping it simple for the customer. Chase Paymentech’s research indicates that there are 3 main inhibitors to successful cart conversion. They include the the need to visit another site to gain payment authorization can be frustrating; making customers re-key card details because they’re out-of-date is time consuming and tiresome – ensuring customer card information is automatically updated will prevent this; and too many steps between item selection and payment. In response, Chase Paymentech offers a number payment tools and services to help the online retailer resolve these issues? Account Updater and Authorization Recycling, and Tokenization, are a set of solutions available to Chase Paymentech merchants that support successful customer path from browsing, through selection, to completed transaction. The “Account Updater” addresses the problem of stored card information becoming out-of-date, requiring the merchant having to request updated card details from their customer.
Imperial Parking Canada Corporation implemented Chase Paymentech as their primary payment processing provider. With this, when a customer parks at most of its 1,600 lots throughout the Country, they pay using their MasterCard, Visa, American Express and Interac Direct Payments cards through Chase Paymentech’s payment processing.
Chase Paymentech merchant acquirer and payment processor kicked-off its “Safetech Encryption” in Canada to help protect merchants and consumers from payment card fraud and data theft for POS retail customers. The “Safetech Encryption” technology is meant to secure cardholder data for card-present transactions and eliminate the processing, transmission and storage of unprotected payment card account information on retailers’ systems. The encrypted data is then transmitted to Chase Paymentech, where it is decrypted and processed through the payment brand networks.
Chase Paymentech acquirer and payment processor launched its Safetech Encryption to help protect merchants and consumers from payment card fraud and data theft. Available to Chase Paymentech Canada POS retail customers, Safetech Encryption is breakthrough technology designed to secure cardholder data for card-present transactions. It is meant to eliminate the processing, transmission and storage of unprotected payment card account information on retailers’ systems. The customer’s card data is encrypted and formatted so that the retailer’s POS systems process the transaction in typical fashion, but the card data is rendered useless to any other person or system that obtains it.
NexTech Electronic Medical Records (EMR), Practice Management, Billing, and Marketing software, has established a marketing agreement with Chase Paymentech payment processing. Providing NexTech software users a solution that will generate more effective collections of funds for services rendered, the partnership allows clients to check-out patients quickly and conveniently while easily collecting debit and credit card payments directly through the NexTech software. After processing the patient’s payment in the NexTech system, important billing records will automatically update within the NexTech Software, saving physician’s and staff time on administrative tasks.