Woo Commerce Payment Integration With International Payment Solutions

woocommerce

Commerce Payment integration is the way forward. Integrated payment technology is a kind of modern payment syste. It is capable of delivering a robust as well as punchy payment experience to both customers and merchants. This advanced technology basically lets the merchant connect to the whole payment ecosystem. It ultimately makes payment processing, accounting, and relationship management work flawlessly together.

When you are adopting integrated payment technology, you are actually shifting your business online. Therefore, you need to pair your business. With a payment processor in order to avail of all the benefits of this advanced payment technology. But, before getting into merchant service, you must know the benefits that you will get after choosing commerce payment integration for your business. So, have a look at the following points:

  • Integrated Payment Technology Saves Your Money: Integrated payment technology can save a lot of money of yours as you don’t need multiple employees to track, monitor, and report transactions. Everything will happen automatically and there is no need for direct intervention.
  • Enhance Accuracy: It is quite evident that an integrated payment system can make a solid enhancemen. In the accuracy of your business by eliminating multiple human errors. There will be no more redundant entries, calculation mistakes, and misplaced invoices after choosing this technology and finally, you will get the ultimate taste of success.
  • Greater Visibility Into your Profit: If we talk about the traditional payment system. A merchant needs separate systems for accounting, marketing, and processing. Ultimately, it takes a lot of time and at the end of the day, it becomes very difficult to get a clearer vision into the finances. But, an integrated payment system eliminates such a problem as here, the merchant does not require separate sections for all those things and as a result, you will get greater visibility into your profits.

Well, it is quite impossible to keep on talking about the benefits of integrated payment technology as these are endless. So, what we are going to tell you is about the best merchant processor solutions. It is something that can help you to elevate your business to the next level. So, don’t miss to go through the following points:

International Payment Solutions- The Ultimate Payment Processor

When it comes to commerce payment solutions, you will get many options. But, why you should choose International Payment Solutions as your merchant processor solutions? Well, to find out the answer, you need to experience how International Payment Solutions serves.

Standing in the 21st century, one cannot ignore the importance of international payment processing activities. In such a scenario, you as a merchant will not be able to get the ideal deals on transactions if you don’t have support from an efficient platform such as International Payment Solutions.

International Payment Solutions is holding an important position among its associates that generally offer payment processing services. It is a trusted entity that can guide you in internet commerce and internet paying processes. We have made a brief breakdown of the services that this online platform offers so that you get a concrete idea of how it woos commerce payment integration.

Credit and Debit Machines

Credit and debit machines have become an integral part of the advanced payment systems. Therefore, if you are looking for the best credit card processing services available on the market, International Payment Solutions otherwise known as IPS will be an ideal choice for you. IPS has been holding the top position in the list of payment processors in Canada. Moreover, they have an enhanced security system that will always deliver fruitful outcomes.

Pay at The Table Terminals

When it comes to the restaurant business, pay at table terminals plays a very important role. But, for having a smooth experience, you must have the best merchant service provider by your side and therefore, you must go with pay at the table terminals from IPS that is durable as well as secure. It offers various payment options and it can be easily integrated with most of POS systems available in the market. This solution also meets the industry’s latest technologies and standards.

Talech POS System

From a businessman’s perspective, customer satisfaction matters the most. For achieving that you need to pair your business with the Talech POS system offered by International Payment Solutions. It is capable of delivering VIP solutions to all of your clients through loyalty programs, fast checkout process, and many more. So, pair your business with this system and see the happy faces of your customers.

Virtual Terminal

If you are running a small business, a virtual terminal will be the best option for you to accept payments online. Well, IPS understands this and this is why they have brought the best virtual terminal that is capable of doing real-time reporting, accepting recurring payments, and making invoices and billing. Moreover, multiple users can process transactions simultaneously on different computers.

So, what are you waiting for? Visit International Payment Solutions today and take your business to the next level.

MasterCard Released New Platform For Easing B2B Payments

master card

MasterCard is trying their best to capture the customer base. The company has recently announced that they have launched the commercial version of the Mastercard Track Business Payment Service. It has been launched with several distribution partners across the B2B channel in the United States.

Payments that are made between two merchants for services or goods are called B2B payments. Such payments help the market by speeding up the transactions between various kinds of businesses.

MasterCard actually initiated Track Business Payment Service as a trading platform in order to simplify payment processes in 2018. The plan to launch such service was actually taken in the previous year. Track that is a multidimensional platform allows businesses to conduct a wide range of activities using various payment methods.

MasterCard said in a press release, “What we’re building with our partners is a fully digitalized and extremely efficient way for businesses to pay and get paid using multiple payment rails so that Buyers and Suppliers each capture new and demonstrable value from their payments activity”. The company further said, “Track gives businesses a way to maintain control, manage cash flow better and be more operationally efficient”.

The Track platform had been in development for several years; Mastercard rolled out a pilot version of it in late 2019. MasterCard said, “In the initial phase of its commercial launch, it will not have all of the “payment rails” the company touts. Payment cards can help in doing transactions; ACH payments are to come on-stream later this year, and cross-border payments in 2021”. B2B Payments are the way forward.

Track Business Payment Service is designed to offer a simplified payment procedure for the business world through digital means. Buyers as well as suppliers will get benefits from this service. On one side, buyers will be able to pay more effectively and avail early payment discounts. On the other side, suppliers are likely to get a clear idea about the invoices received from various buyers along with their proper identification.

Earlier, B2B payments were time-consuming. But, now, easy receipts of funds will help the business owners to manage cash flows and achieve operational efficiencies.

MasterCard is also trying to introduce this system in other countries as well. Moreover, considering the present situation, the company is focusing to promote contactless transactions among its vast network of consumers. The rollout of this new payment platform is giving a new shape to the businesses in the United States.

MasterCard Has Made Change In The Format Of 2020 Annual Meeting Of Stockholders

mastercard

Since the arrival of COVID-19, everything has been changing and MasterCard is not far behind in this trend. MasterCard which is an American multinational financial service corporation announced on 15th May 2020 that the 2020 annual meeting of stockholders has been changed to a virtual meeting.

Considering the present situation where people are preferring digital transaction to maintain social distancing, MasterCard has taken this step.

The meeting will continue to be held on 16th June 2020 and it will begin at 8:30 a.m. Eastern time. As described in the previously distributed proxy materials. Holders of record of MasterCard’s Class a Common Stock as of the close of business on April 20, 2020 will be entitled to participate in the annual meeting.

Well, stakeholders have to visit this link to get access to the meeting.

In addition to this, the participation in the meeting completely depends upon the stockholders. But, MasterCard announced that stockholders have to submit their votes in advance of the meeting by using one of the methods described in the proxy materials.

Admission and Guidelines Of The Annual Meeting

Stockholders have to submit their 16 digit voting control number in order to participate in the virtual meeting with the ability to ask questions and vote. This voting control number can be found on the voting instruction form, Notice of Internet Availability, proxy materials or email. Stakeholders without a control number may attend the meeting as a guest. However, in such a case, they will not have the ability to ask questions and vote their shares.

Stakeholders can submit their questions in advance of the meeting at ProxyVote.com

Stockholders are also allowed to log into http://www.virtualshareholdermeeting.com/MA2020 and check-in to the webcast up to 15 minutes before the meeting’s start time.

According to the MasterCard. “All participants in the virtual annual meeting should reference the meeting rules of conduct, including guidelines for submitting questions. These rules will be posted prior to the meeting to the “Investor Relations” section of MasterCard’s website at https://investor.mastercard.com”.

About MasterCard Incorporated

If we talk about the payments industry, MasterCard is considered as a global technology company. Their foremost mission is to connect as well as power a digital and inclusive economy through which everyone can get benefits by making transactions in a safe, smart and simple way. Using secure data and networks, partnerships and passion, MasterCard helps individuals, financial institutions, governments and businesses realize their greatest potential.

Can Businesses Charge Credit Card Fees To The Consumers?

Businesses

Businesses are charging credit card fees to the consumers. The more we are advancing towards the future, the more we are accepting new payment methods. When it comes to new and advanced payment methods, we must say that credit card and debit card machines are inextricable parts of it. Well, we often say that technology is helping us by making our lives easier than before. But, are these modern payment methods really problem-free? Let us give you an example:

So, you are standing in front of a payment terminal paying with your credit card. The merchant on the other side says that credit card transaction comes with an additional charge. This additional charge is called convenience fee or service fee and is this really legitimate?

According to the merchant rules of MasterCard, American Express, and Visa. Merchants generally cannot charge any convenience fee or service fee while accepting card payments. Still, there are certain types of transactions for which MasterCard, American Express, and Visa allow the eligible merchants for charging service fees which is also called convenience fee.

According to the merchant rules, that fee must be revealed to the cardholders before the transaction gets completed. Moreover, cardholders have the authority to cancel the transaction without giving any penalty. Merchants may select to offer discounts for various types of payment methods.

We have also made a brief breakdown of the credit card fee or service fee. So, if you want to know more about this, go through the following points:

What Service Fee Is and When It Is Charged?

When a consumer purchases any goods or services, the merchant generally incurs his or her bank cost on the consumer in order to process the payment. As most merchants are not eligible for incurring service fees in Canada, they cover it by charging a higher price for their services or goods.

On the other side, eligible merchants impose a charge which is called service fee or convenience fee and this fee can be imposed on any card-based transaction such as credit card or debit card transactions.

Service charges can be imposed on specific types of transactions. But, here, credit card payment services or online bill payment services are not related to it. Basically, cash-based businesses such as ATM operators are eligible to charge a service fee.

Rules That Merchants Need To Follow To Charge A Service Fee

Well, it is a fact that most merchants in Canada are not allowed to impose any additional charge to the consumers. They generally do it because they want to cover the cost that a merchant needs to pay in order to process your payment.

However, there are some merchants who are eligible to legally charge service fees on particular types of transactions in Canada. Well, they need to follow certain rules for that and here, we have added certain aspects related to it. So, have a look at the following points:

  • Each card provider has its own set of rules. If we talk about Visa, it allows utility companies, childcare businesses, post-secondary institutions, and real estate agents to impose a service fee for cardless transactions. Generally, this service fee is capped at around 1% to 1.5%. The whole matter depends upon the cards (credit card or debit card) that are being used by the consumers for making the payments online.
  • If there is any service fee, it will be notified to the consumer before entering the PIN.
  • If there is any fee, customers can cancel the transaction and for that, they don’t have to pay any charge.

Various credit card networks such as Visa and MasterCard are there in Canada. Policies on merchant’s eligibility to charge service fees are different for different credit card networks. Each network has its own set of MCCs that is also known as Merchant category Codes representing the types of wholesalers, retailers, and businesses. For example, we can talk about large stores such as Walmart that fall under more than one merchant category codes. Networks allow merchants to charge service fees if they fall under MCCs.

How Consumer Can Avoid Paying Credit Card Service Fees

If any merchant is legally imposing a service fee, you can avoid paying it by following the below-mentioned tricks:

  • There are different types of payment methods available now and for avoiding the service fee, you have to go with traditional payment methods such as paying with cheque or cash.
  • Before purchasing anything, you should check the ATM operator or merchant whether it is charging any service fee or not.
Best Credit Card Processing Company In Canada

If you are a merchant, you should know that sometimes going with a reputable payment processor can help you to get rid of additional processing fees. In such a case, you don’t need to impose any service fee on the consumers. So, if you are looking for any payment processor in Canada, we will suggest you go with International Payment Solutions.