What Tools Does BAMS Offer for Offline and Online Merchants?

Online Merchant

BAMS is the industry leader in payment processing, trusted by thousands of merchants across the globe. That success is due to our full suite of features designed to help businesses like yours accept electronic payments with less fuss, and lower fees. BAMS has been designed from the ground up to provide all of the functionality needed by both our online and offline partners, and thanks to that client-focused design, 98% of our users report lower stress when working with BAMS merchant accounts.  Here are just a few of the many features BAMS offers to our clients in both digital and brick-and-mortar sales.

 

BAMS Online Merchant Tools

Payment Gateway and eCommerce Integration

BAMS integrates seamlessly with all of the most popular payment gateways and ecommerce solutions, including Authorize.net, Magneto, WooCommerce, BigCommerce, and many more. Partnering with BAMS for your merchant services means you won’t have to worry about making changes to your online store, ensuring maximum uptime and the smoothest possible experience for your customers while you get set up.

Customer Information Management

BAMS’ customer information management tokenizes and securely stores your customers’ payment information, ensuring that their sensitive data will always remain secure, boosting your PCI compliance, and enabling easy management of recurring payments. It also enables customers to store multiple payment methods so that they can easily select the most convenient options for future purchases.

 

BAMS Offline Merchant Tools

Point-of-Sale Integration

BAMS works with virtually any point-of-sale system, from fully integrated multi-terminal systems to standalone pads. That means that regardless of your existing in-store setup, partnering with BAMS will be a hassle-free process. We’ll also help you ensure that your equipment is updated to comply with EMV chip-card requirements in order to protect you from unnecessary liability exposure, and we offer a full range of EMV-compliant terminals ready to easily integrate with your in-store system.

Business Funding

One of our goals at BAMS is to help our clients get the funding they need by offering the most affordable cash advances possible. We accomplish that goal by integrating with Fundomate, the first search engine for business cash advances. BAMS partners can take advantage of our easy online application, enabling the entire process and all document submissions to be handled electronically, saving both time and paperwork. The result is that applying for cash advances through BAMS is faster and easier than ever. It’s also cheaper than ever, since we also don’t charge any of the fees associated with traditional brokers.

 

BAMS also offers a number of features and services that apply to all of our clients regardless of whether they operate online, offline, or both. That includes our powerful chargeback management tools to help minimize losses, and our industry-leading reporting and analytics suite that helps our clients make more informed business decisions. We also help all of our clients become fully PCI compliant, ensuring data security and peace of mind.

Contact us to find out more about the full suite of BAMS features and how your business can put them to work today. Our low-price guarantee and unique five-point price comparison process ensure that partnering with BAMS will not only make your payment processing easier, it’ll also help boost your company’s profitability as well.

An Introduction To BAMS’ Popular E-Commerce Integrations

Ecommerce

We now live in a digital world, and online shopping has become king. A 2018 study by NPR found that an astounding 75% of Americans have purchased something online, and every year consumers shift more and more of their shopping to the web. As the leader in electronic payments, we at BAMS understand how important it is for our partners to have strong, stable e-commerce platforms, and as a result, we’ve designed BAMS to integrate with all of the most popular payment gateways, online checkout solutions, and fully-featured e-commerce platforms. Here are just a few of the many e-commerce integrations available through BAMS.


Authorize.Net

Authorize.Net is the world’s largest online payment gateway, allowing merchants to accept e-commerce payments with credit cards, ACH eChecks, PayPal, ApplePay, and more. Now owned by Visa, it offers outstanding security and fraud protection and an extensive list of third-party integrations. Authotize.Net also offers streamlined single-click payment options designed to enable transactions like charity donations to be made with a minimal headache for the end-user.

Magento

Magento is an open-source e-commerce platform owned by Adobe that has been used by over 250,000 online stores worldwide. Magento is one of the oldest players in e-commerce solutions, and its availability as a one-click install from a number of major hosting providers has aided its popularity. Like Authorize.Net, there is an enormous list of third-party applications that can be easily integrated with Magento stores to expand their functionality.

CyberSource

CyberSource is another e-commerce payment system owned by Visa, used by 400,000 merchants all over the world. It provides secure online checkout functionality to online stores, enabling them to accept major credit cards, as well as third-party solutions like PayPal. Its Decision Manager product is the world’s largest fraud detection system, processing and analyzing data from over 68 billion transactions annually.

BigCommerce

BigCommerce is a Texas-based e-commerce company offering online shopping products for websites, blogs, and social media applications like Instagram and Facebook. BigCommerce is highly scalable and offers hundreds of built-in features users can employ right out of the box without having to turn to third-party plugins. That scalability has made BigCommerce the number one eCommerce platform for businesses that bring in $1 million or more in sales each year, and it’s currently used by world-class brands like Toyota, Gibson guitars, and more.

WooCommerce

WooCommerce is a fully-featured e-commerce plugin specifically designed to operate with the WordPress content management system. Thanks to the widespread use of WordPress, WooCommerce has grown into one of the web’s most popular e-commerce solutions, boasting over 64,000,000 downloads. In addition to e-commerce and shopping cart functionality, WooCommerce offers a full suite of website themes, allowing users to build professional online stores using nothing but the WooCommerce platform and WordPress.

Volusion

Volusion is an all-in-one e-commerce platform that allows users to design fully-functional e-commerce websites from scratch using a suite of built-in tools and modules. It essentially acts as a content management system and e-commerce platform in one, allowing users to build out their online stores page by page, skin them with professionally designed themes, and then populate the shopping areas with all the flexibility and functionality required. In addition to its store and shopping cart features, it also includes built-in marketing tools like search engine optimization and social integration.

 

Our long list of popular e-commerce integrations means that when you partner with us for your merchant account, you’ll be able to seamlessly integrate BAMS with your existing e-commerce solutions without having to worry about the hassle of changing your checkout process, your store setup, or your users’ experience. Contact us today to find out how BAMS can help you save money and streamline your online payment processing right away!

 

How Your Business Can Protect Itself Against Chargebacks

Chargeback Protection

Chargebacks are an unfortunate reality of accepting credit card payments, but they aren’t something businesses have to lie down and accept without a fight. Some chargebacks are completely legitimate, like cases where a purchase was made fraudulently by a third party. But many chargebacks are fraudulent, frivolous, or abuses of the system. In those cases, there is no reason for a company to accept losing the revenue, the product, and the additional chargeback penalty, and fighting back is in order.

 

Preventing Chargebacks

The first step in chargeback defense is to work proactively to stop them from happening in the first place. While merchants can’t prevent abusive or fraudulent chargeback requests, they can take steps to help minimize legitimate chargebacks.

Make it clear where the credit card charges are coming from:

One of the most common causes of chargeback requests is customers checking their statements and finding unfamiliar purchases. Worried about potential fraud, they then contact their card issuer and attempt to stop the payment. Sometimes this happens due to legitimate fraud, but many times it’s simply a matter of the customer not recognizing the payment descriptor – the name shown alongside the transaction amount. It’s incredibly important that merchants make themselves easy to recognize by using descriptors that match their branding rather than numbered company names or parent corporations.

Ensure customer complaints are taken care of quickly:

Of all the valid reasons major credit card companies accept chargebacks for, a number of them relate to unsatisfied customers. Unreceived orders, products that don’t match their description, defective merchandise, and misrepresented purchase terms are a few of the many reasons customers can legitimately file a chargeback. The best way to defend against consumer disputes is to take care of them with good customer service before they ever reach the chargeback stage. Addressing customer concerns quickly and professionally, and issuing refunds where appropriate, is a far better route to take than risking getting nailed with a chargeback.

 

Fighting Chargebacks

When chargebacks do come in, it’s extremely important that businesses handle them quickly and put up as strong a defense as possible to avoid the negative implication with card issuers and the hefty penalties, which can reach as high as $100 per instance. Successfully doing so comes down to understanding the system and knowing how and when to fight back.

The best response is a timely response:

A chargeback that doesn’t receive a response is a guaranteed loss, and waiting too long to respond isn’t much better. There are strict deadlines that merchants have to meet in filing their chargeback responses, and missing even one of them renders the entire process moot. Arguably the most important factor in filing a timely response is to find out about chargebacks as soon as possible. Some payment processors notify merchants of disputes by mail, which is slow and ineffective. Others, like BAMS, use SMS notifications to alert merchants as soon as a chargeback or retrieval request is filed. That speedy notification is invaluable when it comes to getting a strong defense filed in time.

Know the codes:

Each card issuer has its own set of criteria for what it considers a valid chargeback. Those reasons are managed using a set of codes, and every chargeback request will come with an associated code identifying the reason for the dispute. Understanding what those codes represent is key to filing a valid chargeback defense, so merchants absolutely need to be able to decipher them. Visa’s codes, for instance, are laid out in the Dispute Management Guidelines for Visa Merchants, and cover four major areas – fraud, authorization, processing errors, and consumer disputes.

 

One of the best ways to avoid losses from chargebacks is to partner with a payment processor that understands how serious a concern they are for businesses and offers tools to help mitigate and manage them. BAMS offers a full suite of chargeback tools, including SMS notifications, an online dispute management platform, Verifi integration, zero-liability chargeback assurances, and more.

Contact us today to find out how payment processing with BAMS can help protect your business against unnecessary losses from chargebacks.

TurboApp – IRIS CRM’s Merchant-Boarding Secret Weapon

Merchant

All BAMS customers receive full access to IRIS CRM, one of the most powerful customer resource management platforms currently available on the market. IRIS CRM provides a full suite of tools that enable companies to manage all aspects of their operations, from communications to leads and prospecting, to sales, to payments, and beyond.

One of IRIS CRM’s most important features is TurboApp, a built-in application designed specifically for independent sales organizations looking to streamline their merchant boarding. With TurboApp, what was once an involved process requiring large amounts of manual entry can now be almost completely automated, allowing users to board new merchants far more efficiently than ever before.


How Does TurboApp Work?

TurboApp integrates directly with the major front-end providers so that the data from merchant applications entered into the IRIS CRM system can be passed right through, all from within the CRM. That’s a revolutionary advancement because it removes the time-consuming step of having to manually process a merchant’s application and then manually transfer all of the relevant information over into an application portal.

Thanks to IRIS CRM’s built-in eSignature functionality, applications are ready to go once they’re passed through to TurboApp, and all an agent has to do is upload the relevant attachments and check over the data to ensure there aren’t any errors.

TurboApp also allows boarding of multi-location merchants from within a single application.  Each location generates its own tab within the overall merchant application, allowing agents to follow the same simple steps as they would for a single-location application and eliminating the time-consuming process of handling data individually for each separate place.

TurboApp integrates with all of the leading front-end solution providers, including First Data Omaha, First Data North, Vantiv, Priority, Pivotal, iPayment, and a number of others. No matter which processor an application is being boarded to, TurboApp allows it all to be done in a matter of a few clicks.

 

The Many Benefits of Using TurboApp for Merchant Loading

The most obvious benefit to TurboApp is the speed with which it allows agents to board new merchants. By eliminating most of the manual work traditionally involved in merchant boarding, TurboApp allows the process to be completed four to seven times faster. That means agents waste less of their time each day on busy work, and can spend more focusing on signing up new accounts and bringing in revenues.

The other major benefit of TurboApp is the promotion of accuracy – an important factor whenever data handling is involved. The traditional boarding process is rife with opportunities for problems. Every time a piece of data is moved manually from one source to another, the possibility for data entry errors exists. Data entry errors can be the difference between an application getting approved or rejected, and as a result, they can be extremely costly. By removing as much manual data handling from the process as possible, TurboApp helps ensure that data quality is never compromised, resulting in more approvals and a fatter bottom line.

 

TurbpApp is a game-changing productivity tool, and it’s only one of the many powerful features include in IRIS CRM. All BAMS merchant services partners get full access to the full IRIS CRM suite, so get in touch with us to find out how you can put this incredible customer resource management tool to work for your company today.

 

What Is Level 3 Credit Card Processing And How Can It Help Your Business?

Level 3 Credit Card

The average person doesn’t consider the VISA or Mastercard in their pocket to be any different from a company or government credit card – aside from the limit, of course. But there are actually significant differences in how corporate and government cards are used and processed. Those differences mean that not all merchants can accept all types of credit cards, and they also change the way issuing banks view transactions. The result is that merchants who can process these special credit cards – known as Level 3 cards – stand to benefit greatly.

 

Not All Credit Cards Are Created Equal

Banks categorize credit cards differently based on what types of cards they are and, more specifically, what’s required to use them. The credit cards consumers carry in their wallets that make up the vast majority of transactions are classified as Level 1 cards. Level 2 cards are often used for B2B purchases and require extra data to be captured in order to be processed. Finally, the largest corporate and government transactions are done using Level 3 cards, which require even more data to be captured and offer additional control to the cardholder, and additional assurances to the bank.

 

The Benefits of Level 3 Processing

The primary benefit of Level 3 cards to cardholders is the control they offer over card use. To the bank, Level 3 cards represent more fraud-proof transactions thanks to the enormous amount of information that needs to be collected to use the card. In return, the bank offers lower interchange fees to Level 3 payment processors – a kind of reward for the work required to handle all the extra data collection. The savings on those fees add up quickly, and that’s a huge benefit to the end merchant’s bottom line. As a result, companies that deal with larger corporate clients or government agencies should really consider upgrading their payment handling to include Level 3 data capture.

 

Getting Set Up to Take Advantage of Level Three Payments

Processing Level 3 transactions requires the capture of 15 to 20 additional line items on top of the data normally recorded on Level 1 card purchases. Those line items include things like invoice numbers, unit prices, item descriptions, and more. It’s a lot of data to capture, and doing it manually is a headache at best, and an enormous time-sink at worst.  Luckily, some electronic payment processors, like BAMS, can automate the capture and reporting of Level 3 data, allowing merchants to reap all the benefits of accepting Level 3 payments with none of the nightmarish manual data management.

With that in mind Level 3 processing isn’t appropriate for all businesses. At BAMS, checking for Level 3 optimization eligibility is part of our five-step price comparison process and one of the first steps in all of our partnerships. In addition to reduced fees, merchants that do begin accepting Level 3 cards open up a whole new world of high-end clients that other companies simply don’t have access to, so contact us today to find out how we can help your business begin accepting these valuable payments

What BAMS Can Do For Your Supermarket?

Supermarket

Your supermarket depends on the people that live in your local community, and just as importantly, they depend on you. Your success and growth come down to the quality of service you provide and the value your customers get for their hard-earned dollars, and both of those factors are impacted by payment processing.

BAMS is the ultimate payment processing partner for small businesses like yours because we enable you to give your customers the payment options they want, help you streamline their payment experience, and help you pad your bottom line in the process. Here are just a few of the benefits partnering with BAMS can provide to your supermarket.

 

BAMS Can Help Increase Your Sales

Studies have shown that people paying with credit cards are willing to spend more money than when paying with cash. The reason is that a tap or swipe of the credit card is perceived as far less painful than handing over cold, hard cash. That means people paying with cards are both more likely to spend more money as a whole, and are also more likely to indulge in near-the-checkout impulse purchases.

That has huge implications for your supermarket, the most obvious being that if you aren’t already accepting credit cards, you’re leaving money on the table. Aside from this well-researched consumer behavior, accepting credit cards just makes sense, since fewer and fewer people are carrying cash at all as consumer payment habits move further towards plastic with each passing year.

 

BAMS Can Help Reduce Your Fees

If you are currently accepting credit card payments, there’s a good chance you’re either using a third-party provider like Square, or that you just signed on with your bank because you thought they’d be the best rate available. In both of those cases, the odds are that the fees you’re paying on each transaction are higher than they need to be.

At BAMS, we’ve developed an industry leading five-step price comparison designed specifically to determine how and where we can save you money before providing you with a detailed quote. That way, you can be absolutely certain that partnering with BAMS is the right move not only for your peace of mind but for your wallet as well.

 

BAMS Can Help Streamline Your Tracking and Reporting

BAMS does more than just process payments; it also provides a full suite of tools to help you better manage your business, including detailed tracking and reporting on all of your transaction handling. BAMS also comes with access to IRIS CRM, a leading customer resource management tool that can help you streamline almost all aspects of your business.

These tools allow you to minimize monotonous and time-consuming housekeeping tasks so that you can focus more on growing your business and serving the customers and community that depend on your grocery store and drive your sales.

 

At BAMS, our goal is to enable you to offer your customers the credit card and debit payment options they expect while cutting your costs and making card payments more profitable for you. We’d love the opportunity to show you how BAMS can benefit your supermarket the same way it’s benefited thousands of businesses all over the world, so give us a call today to find out more.

Four Common Payment Processing Myths You Can’t Afford To Continue Believing

Myths or Facts

Plastic is now the preferred payment method of choice for consumers across the globe, and accepting card payments is no longer an option for serious businesses. Unfortunately, a number of myths surrounding payment processing still muddy the waters and keep some businesses from taking the leap. Those myths are generally rooted in old information from a time when getting set-up to accept credit cards wasn’t all that easy, but those days are long gone. Here are four of the most persistent of those myths, and how they diverge from the reality of modern payment processing.

 

Myth One: PCI compliance is only required for merchants doing high transaction volumes.

Fact: This could not be more incorrect. If you’re accepting credit card payments, you’re expected to be PCI compliant no matter how many transactions you process. There is no compliance floor that excuses merchants from keeping their customers’ payment information and personal data secure. Even if your business only processes a single credit card payment, failing to meet PCI compliance standards could be extremely costly, both financially and from a reputation perspective.

When you partner with BAMS, our team of PCI compliance experts will reach out to lead you through the compliance process, making it easier than ever to offer your customers the security they need.

 

Myth Two: Processing fees are profit-killers.

Fact: There is no getting around payment processing fees, but the idea that they hurt overall profitability is just crazy. In reality, a number of studies have shown people actually spend more money when they pay with credit cards. The exact reason isn’t clear, but it probably has to do with the fact that paying with a credit card doesn’t feel the same as paying through other means like cash or cheque because you aren’t actually handing something over. The result is that, while accepting credit card does involve paying the associated fees, you’ll actually sell more by offering card payments, making the fees more than worthwhile.

At BAMS, our goal is always to save you money, and our 5-step price comparison and quotation process is designed to show you exactly how we can help you lower your transaction fees.

 

Myth Three: From a merchant perspective, all credit cards are created equal.

Fact: Banks recognize multiple levels of credit cards. The common consumer cards most people carry in their wallets are considered level one cards. But corporate and government credit cards are considered level two and level three, and they’re eligible for lower interchange fees thanks to their relative reliability. The catch is, to access those lower interchange fees on your processed transactions, your payment processing software has to be set up to handle these types of cards.

The data-entry associated with level 2 and level 3 cards can be a headache, but BAMS is designed to automate that process, allowing you to easily reap the benefits of the lower fees that come along with corporate and government card purchases.

 

Myth Four: Chargebacks are a fact of life, and there is no way to mitigate them.

Fact: While it’s true that some chargebacks are completely legitimate, unfortunately, a large number of them are fraudulent. Merchants that aren’t set up to properly handle chargebacks lose huge amounts of money each year to these shady disputes, but merchants aren’t powerless, and fraudulent chargebacks can be detected and minimized. The key is vigilant monitoring and timely responses, and a good payment processor can provide the tools necessary to do both.

BAMS provides a full suite of tools to help manage and minimize chargeback losses, including instant dispute updates, online dispute management, cardholder authentication tools, and more.

 

BAMS is the industry leader in affordable electronic payments solutions, and thousands of merchants across the globe, including some of the world’s biggest brands, trust us for their payment processing. Contact us today to find out more about how we can help your business accept electronic payments and as easily and cost-effectively as possible.

 

Our Top 3 Magento Integrations To Help Your Business Grow

Magento is one of the top e-commerce platforms

E-commerce continues to be one of the fastest growing industries in the world, with billions of dollars in sales volume and consistent double-digit growth over the past four years. Fueling that growth is a shift in consumer behavior, but also the technology that makes e-commerce possible.

From a tech standpoint, Magento is one of the top e-commerce platforms in the world, driving approximately 250,000 e-commerce stores and an impressive $100 billion in gross sales volume.

Of course, no platform operates in isolation, and Magento is no exception. To get the most out of it, many businesses turn to systems integrations and plugins to expand the functionality of their website as well as optimize a business’s use of customer data. Let’s take a closer look at our top integrations for the Magento platform.

 

Enterprise Resource Planning (ERP)

ERP software is essentially the backbone of many mid-sized businesses. As the category name suggests, the software helps firms identify and manage various resources. That can be anything from raw materials, financial resources, or human resources. And as such, they both require and generate a lot of data that is essential for an e-commerce business, and integrating an ERP to Magento can help businesses grow exponentially.

For example, an ERP system integration can help a firm optimize its manufacturing processes, and thus ensure that a product is never out of stock. Additionally, Magento can track customer purchasing patterns, while an integrated ERP integration can identify key times when production should be increased or decreased, thus optimizing the production process.

 

Marketing Automation

In today’s increasingly connected digital world, marketing automation systems have helped firms optimize the delivery of key messages to highly segmented audiences at the optimal time designed to increase conversions. Of course, customer data is the lifeblood of such systems, and the more data they have, the more powerful and effective these marketing automation programs are. Luckily, Magento is an excellent data source. By integrating marketing automation with Magento, marketers can track essential aspects of their marketing programs with the goal of optimizing them. For example, they can track which channels are driving the most traffic, which are driving conversions, which are driving new customers, repeat buyers, etc. They can then build automation protocols that efficiently move visitors through the sales funnel. The more they can automate everyday tasks, the less work they need to do!

 

Payment Gateways

Accepting payments is the final step in any e-commerce transaction, and it’s essential for it to be a seamless experience. That means integrating the payment gateway with the Magento shopping cart user experience. This is an essential part of running an e-commerce store. By way of comparison, if you were shopping at a brick-and-mortar store and were told to go to a different store to complete the payment, you’d probably think something shady was going on. The same is true of e-commerce stores. Integrating the payment gateway ensures that customers get a fully branded experience from start to finish.

 

Here at BAMS, we help customers with a variety of payment gateway integrations for Magento and other e-commerce platforms. It only takes 10 minutes for our agents to connect your store with the best payment gateways. So, if you need to get up and running quickly, contact us today. One quick update is all it takes for you to get all the benefits of a BAMS merchant account.