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Credit Cards provides
electronic draft capture (EDC)
capabilities by allowing you
to swipe a credit card
through a magnetic stripe
reader, automatically
authorize a credit card
sale, verify an address,
electronically capture the
customer's signature, and
settle funds to your bank.
Electronic check
authorization, EBT, and
debit card processing with
PIN pad support are also
provided.
Full
support is provided for
multiple industry
classifications, including
Retail,
Mail-order/Telephone-order (MOTO),
and Ecommerce. CounterPoint
supports AVS, CVV2/CVC2, and
purchase cards.
Transactions may be
authorized using a standard
dial-up telephone line.
Two-second Internet
authorizations are available
using the optional CPGateway
service.
CounterPoint's Base System
includes credit card
processing under the
CounterPoint Merchant
Program (CMP).
Additional processors are
available with the Credit
Cards Option and ensure that
CounterPoint is compatible
with the vast majority of
U.S. banks.
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Benefits
The
benefits of integrated
credit card processing
include:
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Rapid, automatic charge
authorizations
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Faster checkout times
-
Reduced customer
frustration
-
Fewer errors and fewer
chargebacks
-
Reduced cost of
accepting credit cards
-
No
hand-recording of card
information
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No
paper slips to deposit
at the bank
-
No
rekeying of card
information
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No
separate credit card
terminal
Check Authorizations
CounterPoint includes
electronic check
authorization compatible
with TeleCheck and Certegy.
MICR check readers are
optional, but are quicker
and more accurate than
manual data entry.
NOTE: CounterPoint
supports check processing
with CMP, First Data North,
First Data South, and TSYS.
(All processors other than
CMP require the Credit Cards
Option).
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Debit Processing
Complete debit card
processing is provided (with
DUKPT Support) and requires
the use of PIN pads and
magnetic stripe card
readers.
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EBT
Processing
EBT
food stamp processing is
available when processing
with CMP, First Data North,
or TSYS. EBT requires the
use of PIN pads and magnetic
stripe card readers.
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Address Verification
Address
Verification Service (AVS)
reduces credit card fraud by
confirming the customer's
address. AVS is primarily
used in mail-order or
ecommerce applications where
the physical card is not
present.
AVS
processing does not affect
whether or not the charge is
approved. Instead, it
informs the user whether or
not the address provided by
the customer matches the
address information on file
with the credit card company
so that the merchant can
decide whether or not to
process the order.
Optional CVV2/CVC2 provides
additional AVS information
by sending the extra three
or four digits printed on
the back of the card to the
processor.
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Purchase Cards
CounterPoint supports Level
II Purchase cards, Corporate
cards, Business cards, and
Commercial cards.
Purchase cards are Visa and
MasterCard cards that look
like normal credit cards,
but are processed in a
special way so that the
cardholder (typically a
large business or government
agency) will receive
additional information on
the monthly statement
regarding the type of goods
or services purchased.
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Hardware Requirements
Requirements for credit card
processing are a modem and
phone line (or Internet
connection), and typically a
magnetic stripe card reader.
The card processor
determines the modem speed
and the card reader
requirements. CounterPoint
is compatible with any
Windows-compatible modem and
either Track 1 or Track 2
card readers. Card
processors typically require
a 1200 baud modem (minimum)
and a Track 2 card reader.
One
modem and phone line is
typically shared by multiple
workstations. You can use a
dial-up server as your
primary processing method,
or as a backup for CPGateway.
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Functional Description
During
Ticket Entry, the credit
card is swiped through the
magnetic stripe card reader.
Card information is read,
and the amount is authorized
over a dial-up or Internet
connection. The processor
returns an authorization
number or a decline.
Capabilities are provided
for call retry and for a
backup phone number. Any
number of credit cards can
be used on one ticket, and
multiple cards of the same
type are also allowed.
Authorization only commits
the cardholder's credit
line. Funds are not actually
transferred until the
transactions are settled,
typically at the end of the
day.
Invoices and receipts print
the credit card information
required by the processor.
Receipts can support one- or
two-part paper with a
signature line, as well as
an abbreviated sales draft
(that doesn't list the
merchandise sold).
The
Pre-Settlement List allows
you to review the day's
activities prior to settling
the transactions.
Funds may be settled
(electronically transferred)
with the credit card
processor daily. For most
card types, settled funds
are transferred via ACH to
your local bank within two
business days.
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Other
Costs
Typically, the costs
associated with credit card
processing include a
telephone line installation
and monthly usage, modems,
magnetic stripe card
readers, cabling, and the
services of a qualified
technical person to install
the equipment and test the
configuration.
CPGateway requires Internet
access and has startup and
monthly transactional fees.
You can try CPGateway for
free for a limited time with
your new CounterPoint
system.
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