VelocIT Makes It Easy to Reduce or Eliminate Chargeback Liability from Credit Card Fraud
Beginning October 2015, payment processing became a lot more complex for merchants. Suddenly, merchants were held liable for fraudulent transactions resulting from seemingly legitimate card swipes – and that liability could be devastating under the wrong circumstances. However, merchants who used the more secure chip technology for credit cards were usually able to avoid credit card fraud liability.
These days, considering the potential danger that card swipes can have on small businesses, we find it surprising that it’s still common to find stores that only accept swiped cards. But we get it. After all, new payment terminals can be expensive and implementing chip technology solutions can be complex and confusing… or rather, that’s how everything used to be.
With VelocIT, terminals are free and implementing chip technology is as easy as pushing a button. Learn more when you watch Video #11, “Using Card Present,” in our handy VelocIT video series.
What Is Card Present and Why Use It?
When the Card Present button is selected in your VelocIT solution, it engages the payment terminal, so that you, as a merchant, can use chip cards with your Sage ERP. There are a few reasons why it’s a smart idea to take advantage of this functionality.
We already talked about how chip cards protect you and your business from liability in the event of fraudulent credit card activity, but chip card usage offers a lot more benefits too. For example, using chip cards can result in lower rates for you and can also provide a better customer experience and signature capture.
And remember, the up-to-date chip terminals are free from VelocIT.
Using Card Present with FlexiSuite
The chip-ready Card Present payment processing option from VelocIT is also available as an integration for the popular FlexiSuite solutions for Sage 100 / Sage 100cloud. FlexiSuite includes both FlexiPay and FlexiDeposit, which work together to streamline your posting process in Sage.
- FlexiPay empowers you to accept multiple deposits per sales order and gives you faster reconciliation of funds to General Ledger.
- FlexiDeposit is a cash-management tool that adds flexibility to Sage 100 / Sage 100cloud with straightforward buttons that speed selecting, clearing, and processing Sage deposits.
When you combine the convenience of FlexiSuite with the speed, security, protection, and lower rates that result from using VelocIT to process credit cards with chip technology, your small business stands to gain big benefits.
Ready to learn more about stress-free, simple-to-use, secure credit card chip processing through VelocIT? Check out the “Using Card Present” video (Video #11) in our video series.