Saving on B2B Interchange

October 13, 2017

Did you know that by providing just a few extra fields of information on B2B transactions using corporate and purchasing cards, your business can qualify for lower interchange rates? This is often referred to Level 2 and Level 3 data and can result in a significant interchange savings over a typical consumer transaction.

Background

Level 1: This level of processing refers to business-to-consumer (B2C) transactions, during which consumers use their personal credit cards. The data required to process a Level I transaction is small, but the interchange rates are higher.

Level 2: Level 2 credit card processing refers to a more detailed transaction designed to support business-to-business (B2B) payment processing. Commercial accounts often require the ability to monitor and control credit card spending, and Level II processing simplifies these transactions.

Level II transactions can qualify for lower interchange rates. Basically, Visa/MasterCard recognize that if you, as a business, are providing all of this extra information, the sale is more likely to be legitimate. As such, they are willing to provide a lower cost for the sale.

Level 3: This B2B processing takes everything one step further. Most merchants will never have the opportunity to accept Level 3 cards, but if you’re processing a B2B-heavy industry or accept a lot of Government cards, having Level 3 data acceptance may help reduce your interchange costs even further.

How You Can Save

If you regularly process B2B transactions, utilizing Level 2 data will help you achieve savings on interchange rates, typically around 0.50% lower. To accept these transactions, you will either need to have a standalone terminal or processing gateway that allows you to input the extra fields. OMEGA VT, our virtual terminal, can be set up to do this. In addition to information collected in a Level 1 transaction, you will also need to input tax amount, Merchant State and Postal Code, Tax ID information and Merchant Category or SIC code. This can result in a significant annual savings for just a little extra effort — time is money in this case!

To learn more about how Level 2 processing can help your business, contact OMEGA Processing today.

866.888.9724

http://www.omegap.com

 

 

 


NO Contract. NO ETF. NO Long-Term Leases

October 11, 2017

Are you tired of long-term contracts with high termination fees? What about multi-year  leases costing you thousands of dollars for a terminal that you could have bought for a few hundred?

Talk to us. At OMEGA we want to earn your loyalty. That’s why we have NO merchant contract or termination fee. Also, we provide you with multiple, affordable ways to purchase or rent-to-own your terminal. After you finish paying for it, the equipment is yours.

Call us at 866.888.9724 or visit our website at www.omegap.com for more information. You can even request a price quote from our online tool, just click HERE.

We look forward to doing business with you.

No contract


No-Hassle Business Funding from OMEGA Processing

September 28, 2017

Want to stock up on inventory before the busy holiday season? Do you have expansion plans for 2018? OMEGA Processing’s business funding program provides working capital so that you can expand, remodel, upgrade equipment, hire new employees, retire debit or meet any other cash needs.

With our funding program, you enter into a purchase agreement with OMEGA Processing. In exchange for an designated amount of funding, you contract to sell a set amount of future credit card receipts back to OMEGA Processing every month. The specified percentage of the receipts and the term of the payback agreement are agreed upon ahead of time.

Advantages to you?

  • No collateral, hidden fees or closing costs
  • No hassle – we deduct the payment automatically from your credit card receipts
  • No need to worry about making set payment amount during down times because payment percentage is tied to credit card sales.

For more information about Business Funding Solutions from OMEGA Processing, go to our website or call 866.888.9724 Ext. 7.

working-capital-funding


Have You Heard How OMEGA’s Data Security Solutions Can Protect Your Business?

September 22, 2017

Ensuring your business has the best compliance, security, reporting, and protection solutions is a top priority at OMEGA Processing. Our Data Security Solution both protects against data breaches and assists with the services in the event one does happen.

PCI ToolKit—Tailored to your business needs, the PCI ToolKit provides specific security and compliance solutions, allowing you to reduce risk and focus on your customers.

Data Incident Management Program—A comprehensive suite of services that provide expert assistance if a breach should occur. The Data Incident Management Program will reduce exposure and risk, increase your compliance levels and save you time and money.

Vulnerability Scanning—An automatic quarterly scan of your systems can pinpoint potential vulnerable points of entry and detect cardholder data theft before the breach occurs.

Breach Insurance—Up to $100,000 in insurance protection should your business experience a breach of card/cardholder data.

Our program benefits include:

  • Easier and faster compliance
  • Reduced exposure and risk
  • Increased consumer confidence in your business
  • Competitively priced solutions
  • Award-winning solution provider

PCI compliance is essential to the wellbeing of your business—let OMEGA help keep you protected. Contact OMEGA’s Customer Service department at 866.888.9724 Ext. 7 for more information.

pci


When Should You Start Planning for the Holiday Shopping Season? TODAY

September 13, 2017

The countdown to Black Friday 2017 is on. There’s no need to panic yet, but the best time to start preparing for the upcoming holiday shopping season is NOW.

Gift cards are perennially the most requested holiday gift item. That means getting your gift card program in top shape is definitely a priority. Consider these facts:

  • Over $100 billion is spent annually gift cards
  • A majority of gift card recipients spend an average of 38 percent MORE than the face value of the card. That means a customer coming into your location and using a $25 gift card, will spend, on average, $34.50.
  • Card users are less price sensitive. Consumers are 2.5 times as likely to pay full price for an item when using a gift card.

How can you best leverage your gift card and rewards program to boost your holiday sales? Here are a few tips.

  • Display your cards in top traffic areas, including check out, hostess stands or customer service desks.
  • Include a gift card reminder on sales receipts.
  • Add an incentive to gift card purchases, such as an extra $10 card or a small gift.
  • Host a prize drawing for all shoppers who purchase a gift card.
  • Donate preloaded cards to a local charity, school festival or other community event.
  • Post gift card reminder messages throughout your website.
  • Train and incentivize your staff to sell gift cards, including messaging on name tags, buttons or hats.

There are a lot of gift card programs out there. How does OMEGA’s program stand out in the crowded marketplace? For one thing, OMEGA’s cards also act as a customer loyalty/rewards card. Enroll users in your loyalty program to strengthen ties with the customer.

In addition, we offer professionally designed and customized accessories, such as envelopes, card holders, display stands and signage. And, our program comes with a free mobile app, so you never miss the opportunity for a gift card sale or redemption.

Ready to get your planning started for the holiday selling season? Contact OMEGA’s Customer Service department at 866.888.9724 Ext. 7 for an account analysis and program demonstration.

Holiday shopping cart


Turning a Tablet Into a Top Sales and Operational Asset

September 6, 2017

You wouldn’t buy something without gathering some information. So why sell something without capturing data about the sale? By not doing so, it’s difficult to gain an accurate understanding of your business, its successes and its potential areas for improvement.

Today’s tablet-based point-of-sale (POS) systems provide you with a scalable tool that can take your business to a new level at a much lower cost than traditional, legacy POS systems. They are simple to use and manage, and the cloud-based app means they are portable. Plus, they process transactions safely and securely using the latest EMV and contactless payments technology.

POS-Tablet

While the systems and their features vary, here’s a brief overview of tablet-based POS technology.

WHAT

Today’s cutting-edge tablet-based POS systems typically consist of an online payment app and a tablet device. Stands, cash drawers, printers and other peripherals are also available. Sales data is kept in the “cloud” so that it easily accessible from any device. In addition, some systems store sales information locally on the tablet device.

WHY

Launching a tablet-based POS system requires a significantly smaller upfront investment than a traditional POS. In addition, the design lends itself Ito increased flexibility for system design and integration into both current and future technology.

Tablet POS systems give owners the ability to manage their business on the go and lend themselves to improved technical service and troubleshooting capabilities. They typically include labor and inventory management tools to streamline business operations. Finally, pay-at-the-table, EMV capabilities and other features provide consumers with an increased sense of safety and security.

HOW

Every business has different needs. That’s why OMEGA offers a varied line of tablet POS systems to our merchants. Below is a brief look at each system’s features and advantages.

Lavu – A full-featured POS system, Lavu was the first iPad POS system in the App store. Designed exclusively for restaurants and bars, Lavu features a simple interface, a powerful reporting and management suite and real-time sales and labor reporting. In addition, there is a restaurant layout customization feature and kitchen display system. The system offers multi-location reporting, tab preauthorization and check-splitting. A gift card and loyalty program is available for an additional fee.

 Paradise Point-of-Sale Systems – With both retail and restaurant options, Paradise offers a complete, wireless iPad point-of-sale system. Data is always accessible with Paradise’s local + cloud data access. Inventory and labor management tools are included, and the systems are customizable for your environment. Additional features include gift cards (separate cost), split checks, pay-at-the-table, tip adjust and customer tracking.

 Redfin Point-of-Sale Systems — Custom-designed “vendor-neutral” restaurant POS solutions that can be customized to your business. From fine dining to quick service, RedFin’s versatile menu management, inventory and labor management tools, pay-at-the-table capabilities and intuitive order entry features result in a custom-designed solution with multiple support options.

Ready to learn more about tablet-based, scalable point-of-sale system solutions from OMEGA Processing? Contact us for a business needs analysis and system demo.

866.888.9724                                      www.omegap.com


Unlock Cash Flow Opportunities with Accelerated Funding

September 6, 2017

Would you benefit from earlier access to your processing funds? Then OMEGA’s Accelerated Funding Program could be a good fit for you.

Program details              

With Accelerated Funding, you have access to your credit card processing proceeds a day earlier. Instead of waiting multiple business days, you have access to your funds the next business day. This frees up cash flow to allow you to make inventory purchases, pay your employees or fulfill any other cash needs.

OMEGA’s Accelerated Funding program is a true accelerated deposit — not just a memo note in your bank account. In addition, OMEGA does not require you to hold your merchant account at a specific bank. We can deposit your funds at your business banking institution.

To find out if you qualify for Accelerated Funding from OMEGA Processing, contact our Customer Service department at 866.888.9724 Ext. 7.

Get your funds faster with Accelerated Funding from OMEGA Processing.

get paid faster

* Banks do not process on weekends and holidays. Therefore, funds batched on weekends and holidays will be deposited the next business day.