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

jeff.parnell@omegap.com

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OMEGA Processing Solutions Makes the Grade

July 8, 2015

Cardpaymentoptions.com, 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

https://www.cardpaymentoptions.com/credit-card-processors/omega-processing/

Cardpaymentoptions.com 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.

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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.

Be Prepared for the Last-Minute Dads and Grads Rush

June 12, 2015

Father’s Day might be just over a week away, but it’s not too late to promote your gift cards as the perfect present for Dad. Here are some tips for helping your gift cards fly off the shelf.

  • Have your cards “seen and be seen.” Get creative and design an eye-catching design as you walk in your location or at the point of sale.
  • Run a Father’s Day special. Offer an extra amount or gift card, when you purchase a card of a certain value. Or, run a promotion items so that the customer will receive a bonus card with a purchase.
  • Support a local charity by making a donation with every gift card purchase.
  • Use the power of social media — offer gift cards for the 100th, 500th or 1000th “like” or “follower.”
  • Offer original and creative wrapping solutions for your gift cards. By making it easy and creative, you’ll entice customers to purchase.

Want to learn more about gift card solutions from OMEGA Processing? Click on the link below or call our customer support center at 866.888.9724 ext. 7.

https://www.omegap.com/services/loyalty-programs.php

Ready. Set. Gift!

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2015 Global Security Report Released

June 10, 2015

The recently released Trustwave 2015 Global Security Report studied 574 data compromises across 15 countries. The comprehensive report outlines the most prevalent vulnerabilities and exploits used in attacks, common password vulnerabilities, and the return on investment that can be gained from a proactive cybercrime readiness and prevention campaign. Consider these stats:

  • 42% of compromises studied were e-commerce, while 40% were at the point-of-sale
  • Weak passwords or weak remote access security contributed to 90% of point-of-sale breaches
  • 86 days is the median length it took to detect a data breach
  • 111 days is the median length of a breach from intrusion to containment
  • Estimated time it takes to crack an 8-character password — one day
  • Estimated time it takes to crack a 10-character password — 591days
  • 39% of passwords have 8 characters

The less you know about your enemies, the slower you can respond to them, and the more effective they will be against you. Use this report to help you battle today’s data security enemies.

Read the entire report here.

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Building Customer Loyalty in the Digital Age

June 2, 2015

US companies annually spend $2 billion (yes with a “B”) on customer loyalty programs. Does this translate, however, into customer engagement?

A recent study by Capgemini Consulting reports that retailers have a lot of catching up to do when it comes to engaging today’s digital age- consumers. For instance — 76% of retailers fail to allow mobile redemption for loyalty programs.

According to Capgemini’s Mark Taylor, “The mobile device should be at the HUB of a customer’s relationship with a retailer.

Read the entire report — “Fixing the Cracks: Reinventing Loyalty Programs for the Digital Age — HERE.

View the Infographic — HERE

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Are YOU EMV-Ready?

May 14, 2015

EMV- payments are coming, and they’re coming soon! The EMV liability deadline is October 2015under five months from now!

EMV is a joint, international effort between the card brands to increase card and cardholder security. Rather than relying on card magnetic-stripe technology (which is the same technology used in cassette tapes), EMV payments use “smart” or “chip” cards. The new cards encode a user’s account information in the embedded chip, which generates a unique, one-time code for each sale. This prevents the data from being stolen and used to create counterfeit cards.

Rather than swiped, smart cards will be entered into the terminal during a transaction. Consumers will also have to either a sign a pin pad or enter a PIN to complete a transaction. This all means that existing swipe terminals must be upgraded to EMV-compliant equipment in order to take advantage of the new security measures.

EMV Deadline — October 2015

The October 2015 Fraud Liability Deadline means that there will be a change in financial responsibility if a fraudulent transaction takes place. Merchants who experience fraud or chargebacks while using a non-EMV processing equipment will assume the liability for those transactions.

EMV Readiness Resources

As the deadline approaches, EMV education efforts are ramping up. Here’s a look at the ones we think are most helpful.

GoChipCard.com addresses the basics of how to identify and use a chip-enabled terminal, how to slide EMV cards into the readers and, most importantly, not to remove the card until prompted to do so.

SellSafeInfo.org was recently launched by the Electronic Transactions Association to help protect both merchants and consumers. The site is a one-stop information resource for merchants about today’s payments landscape.

emv-connection.com provides up-to-date information for all industry stakeholders on the status of EMV migration, along with tutorials and educational resources that will assist with migration.

Visa online EMV toolkit includes a step-by-step guide to adopting chip as well as videos, infographics, and other resources to help merchants make the seamless transition to chip-activated terminals.

Chip 360 from MasterCard is a campaign that aims to communicate actionable information, educate on steps to take and advocate why the change is needed to protect cardholders

Learn about EMV and chip cards with frequently asked questions from Discover Card and American Express.

Don’t Wait Until It’s Too Late

OMEGA Processing Solutions can upgrade your processing equipment to EMV-compatible terminals today at little or no cost. Contact your Account Executive or our Customer Service Center at 866.888.9724 Ext. 7 for more details.

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