George Sens’ Post

We offer a range of payment solutions tailored to meet your business needs, including virtual terminals, invoicing, API integration, and recurring payments. No Hidden Fees: Enjoy our services without any setup fees, application fees, external charges, or monthly fees. Flexibility: No long-term commitments or contracts. Test and use our portal at your convenience. Dedicated Support: Each merchant receives a dedicated account manager and 24/7 customer support to ensure seamless operation. Advanced Fraud Prevention: Our unique Verification Tool provides real-time insights into your customers' bank accounts, helping to prevent fraud and ensure peace of mind. #PaymentSolutions #SecurePayments #BusinessPayments #MerchantServices #FraudPrevention

If financial institutions want cost efficiencies, best to start with the basics. SMS: basic AF technology, BUT banks send millions of them. The costs of not getting SMS right cascades beyond SMS itself and costs millions. Here's an example: Let's say only 90% of SMS sent by a bank get to customers due to poor API implementation, poor service, or just poor vendors (yes, I've seen <90% of SMS arriving way more often than you think). The result is not just hundreds of thousands of dollars wasted on undelivered SMS, the costs add up: 💲 thousands of potential customers don’t get onboarded and give up because their mobile number can’t be verified, customer lifetime value goes from your average CLTV straight to 0 💲 thousands of mobile transactions don’t get made because 2FA isn't possible, adding to customer service costs (i.e. angry phone calls & emails), preventing products from being contracted and lowering customer lifetime value to the tune of millions of dollars 💲 thousands of critical alerts aren’t received to help customers manage their accounts. Angry customers, a high risk of fraud, and eventually churn that pushes millions in revenues from your coffers to your competitors The basics are the foundation of how customers are served. Before doing blue sky thinking to see what cool things you can build to save money, have a look to ensure that the ground under you is stable.

The company I bank with recently changed their verification process for customer service calls. They now ask for your multi-factor authentication (MFA) code. 🚨 I know the request started with me and I've verified I'm calling (what I trust to be) the right customer service number, but this was the first time I've ever experienced this. An MFA code is a highly valuable piece of information, and exchanging it over the phone just doesn't sit well with me. When you receive this one-time code, it's the same code you would use to access your account. It comes from the same number and has the same number of digits. So if you're going to require multi-factor authentication for your customers, you should make it distinct from the process customers use to access their account or reset a password. Maybe an alphanumeric code or a unique passphrase? While they're at it, they should probably consider the guidance provided in their own MFA text: "we will NEVER call or text you for this code. DON'T share it"... 🤔 Can anyone in online banking shed any light on this? #securityawareness #PCIDSS #financialservices

Chargebacks? Not on our watch. 🚫 #Centpays is the advanced payment gateway solution that helps high-risk businesses reduce chargebacks and fraud, ensuring peace of mind and maximizing success. 💼💳 Reducing Chargebacks: Up to 80% reduction sounds impressive! It could significantly impact your bottom line. 💰📉 Real-time Fraud Identification: Blocking fraudulent transactions in real-time is crucial for protecting your business and maintaining financial health. 🕒🛡️ Protecting Against Disputes: Avoiding costly disputes is a major win, both financially and for maintaining customer relationships. 💪💼 Building Trust: Increasing customer trust and satisfaction is key for any business. A secure payment system contributes to this. 🤝💳 Contact us today and see how Centpays can help you reduce risk and grow your high-risk business. 📞✉️ Email: [email protected] LinkedIn: Joseph Martin Skype id: live:.cid.de034ecfa2084fd9 #highriskpayments #gamingpayments #forexpayments #fraudprevention #chargebacks #paymentprocessing

Nacha & Accelitas on the state of bank account validation With account validation a hot topic among payments professionals, Nacha’s “Payments SmartCast” dedicated its latest podcast to a well-informed discussion on BAV in the ACH space. Featuring Amy Morris, AAP the Senior Director, ACH Network Rules at Nacha, and Accelitas Vice President of Product Management James Cook, the guests shared their expertise on Nacha’s Operating Rules and Guidelines, and how solutions providers are working to ensure both compliance and best practices for effective account validation procedures. Bottom line? While fraud prevention remains a priority for ACH Network participants, there’s increasing motivation to improve efficiencies and ensure quality user experience. Advancements in bank validation services are better able to assess and calibrate risk tolerance with specific use cases, a process that can reduce friction, lower costs, and grow business. To hear the Payments Smartcast, click here. https://hubs.la/Q02qcLkg0 #fraudprevention #ACHNetwork #BankAccountValidation

Doug Almeida, VP of Digital Banking for Chartway Credit Union, recently shared his thoughts on why FIs need to upgrade their one-time password (OTP) technology. 📱 “Everyone is very conscious now of the outdated nature of OTP technology. The ease of use is not that easy because it doesn’t give you the bang for your buck you’re really looking for.” Watch the full webinar with About Fraud, ‘The FI’s journey from OTPs to a secure, seamless customer experience’: 👉https://bit.ly/3IBoFqs #onetimepasswords #modernauthentication #fraudprevention

It's #FAQFriday with @Precision_Pay! Q: Why are rates higher for internet, mail, and phone orders? A: Banks consider any transaction where the card isn't present a risky transaction due to the higher risk of fraud and chargebacks. Therefore, transactions like this have a higher rate. Face-to-face transactions, when the merchant swipes the card, are considered less risky by banks. Don't worry about the slightly higher rates with these types of transactions! With #PrecisionPaymentSystems, you'll always have the LOWEST RATES, guaranteed!! Reach out to us today! 📧 [email protected] #BetterTogether #BusinessPartner #LocalSupport #MerchantServices #BusinessSupport #POSSystems #CreditCardProcessing

Little reminder for everyone who is not in open banking game yet.🌟⬇ 1. Cost Savings: Optimize expenses with streamlined processes and reduced transaction fees. 💸 2. Fraud Reduction: Strengthen your defense against fraudulent activities with advanced security measures. 🚫 3. Enhanced Security: Benefit from top-tier security protocols, ensuring your transactions are well-protected. 🛡️ 4. Improved User Experience: Enjoy a seamless and intuitive banking experience, enhancing customer satisfaction. ☀ 5. Transparency: Gain comprehensive visibility into your financial transactions, promoting trust and clarity. 👓 6. Real-Time Updates: Receive instant updates on payment statuses, improving operational efficiency. 📲 Open Banking is an innovative addition to your financial services, not a "replacement" for existing payment methods! And for everyone who does not believe in it yet, get in touch, and let's see how we can solve it in #realtime. 🙉 #OpenBanking #FinancialInnovation #UserExperience #Transparency

eCheck Excellence: The Quiet Powerhouse of Payments ⚡ Often overlooked, eChecks are the unsung heroes of the payment world, especially for low-risk businesses. They offer a blend of speed, security, and cost-effectiveness that's hard to beat. Key benefits of eChecks: Swift Processing: Say goodbye to waiting for checks to clear. Secure Transactions: Reduce fraud risks and protect your business. Cost-Effective: Enjoy lower processing fees compared to credit cards. Ideal for Recurring Payments: Automate billing and improve cash flow.  #eChecks #PaymentSolutions #BusinessTips #lowriskbusinesses

Authorized Transaction: How It Works With Credit and Debit Cards "An authorized transaction is a debit or credit card payment that has been approved by the cardholder's bank. While almost instantaneous, the process involves multiple entities. A card can be declined for many reasons, such as if not enough funds or credit are available on it, or if it has expired. Cards today incorporate a variety of safeguards to protect against the theft of a cardholder's information." #AuthorizedTransaction #PaymentSecurity #CardAuthorization #TransactionProcess #CreditCardSafety #PaymentValidation #CardIssuerApproval #ElectronicTransactions #PaymentProcessing #CardholderSecurity #FinancialAuthentication #SecurePayments #EMVTechnology https://lnkd.in/g3HCGzrh