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.
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).
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.
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.
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.
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.
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.
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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