Card Fraud Losses Toped $16 Billion in 2014

August 11, 2015

Fraud losses incurred by card issuers, merchants and acquirers reached $16.31 billion in 2014 per The Nilson Report. Are your electronic payments systems protected?

Card loss chart

OMEGA Processing 2015 Best of NKY Winners

August 6, 2015

Best of NKY

Congrats to these OMEGA Processing merchants who were highlighted as 2015 Best of NKY winners.

NKY Magazine readers nominated finalists in 60 categories, Over 1,000 people attended the Best of NKY Party in June and voted on the winners. All of this year’s winning establishments are highlighted in the Best of NKY issue of NKY Magazine.

Thanks to all for being OMEGA Processing Solutions Merchants!

NKY Chamber and OMEGA Processing Solutions Announce New Payments Processing Partnership

August 5, 2015

Locally based OMEGA to provide comprehensive suite of secure payments services to five-star accredited chamber

 [FORT THOMAS, Ky. — August 4, 2015] Northern Kentucky-based OMEGA Processing Solutions has been selected by The Northern Kentucky Chamber of Commerce as the organization’s payment processing partner. The three-year agreement covers all credit card processing services utilized by the Chamber, including terminal, online and mobile transactions.

“OMEGA is very excited and proud to be teaming up with the Chamber for their credit card processing program,” commented Scott Anderson, OMEGA Processing CEO. “Our company will be able to provide the Chamber with the latest products and services at a competitive price, which will benefit its members.”

“We are a long-time supporter of the Chamber and its mission, and we are very much looking forward to partnering on their payments needs,” continued OMEGA Processing President, Todd McHugh. “As our relationship moves forward, we’re looking to collaborating with the Chamber on additional ways we can assist both the organization and its members.”

The agreement was awarded to OMEGA Processing Solutions via a Request for Proposal for the Chamber’s banking and financial services providers.

About the Northern Kentucky Chamber of Commerce

The NKY Chamber represents businesses in Northern Kentucky and the Greater Cincinnati region with a mission to promote and support the development of strong businesses and a vibrant economy through leadership and advocacy, resulting in a better quality of life for all. A nationally accredited, five-star chamber, the organization has a history full of success stories about people and companies who rose to the occasion and did something important.

About OMEGA Processing Solutions

OMEGA Processing Solutions offers secure electronic payments processing, mobile payments, point-of-sale (POS) systems, gift cards/ customer loyalty programs and business funding solutions to over 7,000 merchants and 450 financial institution locations nationwide. Founded in 2003, OMEGA Processing Solutions is the region’s sole local, full-service merchant processing provider. OMEGA has an A+ rating from the Better Business Bureau and is a member of the BBB Center for Marketplace Ethics Leadership Circle. For more information, please visit or call 866.888.9724.

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Interchange Relief with OMEGA VT

July 30, 2015

When it comes to qualifying for lower interchange fees, the general rule of thumb is “the more information, the better.” Nowhere is this more true than with Business-to-Business (B2B) transactions. By including additional data, such as tax amount, customer code, merchant postal code and tax identification information, B2B transactions can qualify for lower interchange rates. And, OMEGA Processing’s industry leading virtual terminal product, OMEGA VT, can help.

Transaction Categories

Transactions fit into one of three different categories – Level I, Level II or Level III. Each level has its own data requirements and methods of verification and authorization, ranging from very limited to very detailed.

Level I processing refers to typical business-to-consumer (B2C) transactions, during which consumers use their personal credit cards. While the data required to process a Level I transaction is small, the interchange rates are higher.

Level II and III processing involve business-to-business (B2B) transactions and require completing extended data fields when completing the transaction. Including this additional data improves transaction security and allows commercial accounts to monitor and control credit card spending. In addition, merchants can save from 1 – 2% on their processing costs by having transactions qualify for Level II and III processing.

How Does OMEGA VT Help?

Level II processing options for B2B transactions come built-in to every OMEGA VT account – at no additional charge. By requiring a few additional data fields on B2B transactions, transactions may qualify for Level II processing and interchange rates between 0.05% – 0.50% lower than Level I transactions.

For those merchants who primarily process more detailed B2B transactions, Level III processing is also available, which offers even more interchange savings. While Level II processing has its own pricing schedule, these transactions can qualify for rates 0.25% -2.50% lower than Level I transactions.

Looking for more information on saving with B2B transactions with OMEGA VT?  Contact OMEGA Processing’s Customer Service team at 866.888.9724 Ext. 7.

VT processing

Looking to Partner with an Industry Leader?

July 15, 2015

At OMEGA, our business philosophy is to understand the roles of a processor and what it means to a financial institution, then translate this different way of thinking into measurable success. There are four key components to the OMEGA Processing Solutions Financial Institution Partner Program.

1. Enhance the bottom line through augmentation of fee income and increasing the number of customers and the number of services within the same relationship.

2. Minimize risk. OMEGA takes on all risks and liabilities associated with the merchant services program, including chargebacks, security, fraud and compliance.

3. Care for the customer — is forgotten by most and taken for granted! Our goal is to become a true trusted partner of the bank and a one-stop shop for merchants. We do not have merchant contracts nor early termination fee, so inherently customer service is the backbone of our success.

4. Design customizable programs that provide options which are best suited for producing results and matching the sales culture of the bank.

Want to know more? Contact Jeff Parnell, Vice President Correspondent Banks for more information.

866.888.9724 Ext. 829


OMEGA Processing Solutions Makes the Grade

July 8, 2015, an independent reviewer of merchant services providers, has reaffirmed OMEGA’s “A” rating. Here’s a breakdown of the review:

  • Sales and Marketing — A
  • Costs and Contract — A
  • Complaints and Service — A+
  • BBB Report — A+

Overall, we were granted 4.8 out of 5 stars. To read the entire review, go to is a website dedicated to organizing a coalition of merchants and industry professionals who want to enact change in the merchant credit card processing industry. Their goal is to create awareness of current industry practices as well as push for standards by which all banks, processors, sales organizations and independent resellers must abide when marketing and servicing merchant accounts to small and large businesses.


What’s in a Bot?

July 1, 2015

Internet robots, or bots, are self-propagating malicious programs that spread to form a network of bots—a botnet. Computers become compromised by online criminals, usually without the knowledge of the real owner, and can silently engage in all manner of cybercriminal activity at the remote command of a hacker overlord (known as a “botmaster”).

Bots and bot nets

Bot infection methods can include: downloading a virus-infected program, infection via a worm, or more sophisticated methods such as a “drive-by” infection in which users infect their systems by simply visiting a website. The botnet controller can either operate the botnet for malicious purposes or sell this control to others who wish to attack specific targets. Examples of malicious actions from botnets include distributed denial of service (DDoS) attacks, malware, spyware, spam, and data theft.

How Should You Protect Your Computer?

Here’s what you can do to reduce the chances of being compromised:

  • Run anti-virus software, and make sure that you keep it updated. Run other security software, including a firewall, to make your computers less vulnerable to attack. Keep your other software — apps and operating system — updated too. New vulnerabilities are found all the time, some of which are exploited by malware authors in their attempts to grow the size of their botnet.
  • Consider enabling automatic updates if you find updating your software a tiresome nuisance.
  • Be wary of clicking on links or opening attachments in unsolicited emails — there could be malware lying in wait.
  • Don’t forget your smartphones. Although most botnets are comprised of Windows and Mac computers, there have also been notorious incidents of botnets powered by other devices running other operating systems.


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