As most you know, a naming descriptor is what is reported with the transaction information to the cardholders bank and reported on the cardholders statements to assist them in recognizing their purchase.
The rules state that it is NEVER acceptable to use a product name or phone number in the descriptor fields. The descriptor field must only list the legal entity or DBA name.
We have confirmed that our processing platform has the separate fields necessary to list your Customer Service phone number that is AUTOMATICALLY included in the transaction information to the cardholder's bank.
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BankCard Central, a merchant services company, announced that it will partner with Capital Direct LLC, a commercial lending brokerage firm, to offer Working Capital funding solutions to BankCard Central clients and prospects.
BankCard Central provides merchants with complete merchant service solutions. In the current economic environment, it is increasingly difficult for small business owners to find Working Capital loans. Businesses of all types need Capital to not only maintain their sales volume but grow it. Offering Working Capital fits within BankCard Central’s strategy of consistently meeting and exceeding their customer’s expectations and will assist BCC's overall customer growth and retention strategy.
Capital Direct was chosen because they are an experienced market leader for small business funding. Capital Direct provides a multiple lending source solution, insuring the ability to achieve merchant’s target funding goals, even in difficult credit risk circumstances.
“We needed a Working Capital provider that will treat our customers with the same high level of customer service that we maintain,” remarked Matt Hynes, Vice President of Sales for BankCard Central. “Capital Direct impressed us with their speed, efficiency and their ability to secure funds for 90% of their Working Capital requests.”
Kenneth Goldstein, President of Capital Direct, noted that “BankCard Central maintains a very strong bond with their customers. We look forward to providing the financial assistance to allow their clients and their relationships with them, to grow.”
Looking for Working Capital? Find out more about BankCard Central's merchant cash advance programs.
About BankCard Central
BankCard Central provides high speed credit card processing and merchant cash advances for retail, restaurant and eCommerce merchants. BCC has built their company on long-term customer relationships and countless referrals. BCC is well known for the ability to develop tailor-made solutions and process hard to place merchants. BCC has a technology driven gateway with connections for both domestic and international.
About Capital Direct
Capital Direct is a market leader; an 8 year old commercial lending brokerage firm with extensive experience in assisting small businesses. Capital Direct assists small business owners, currently facing the challenge of getting the Working Capital needed to start, maintain and grow merchant's businesses. In addition to Working Capital, Capital Directs' services include: Commercial Property purchase and refinance, SBA loans, hard money loans and equipment leasing.
BankCard Central provides merchants with complete merchant service solutions. In the current economic environment, it is increasingly difficult for small business owners to find Working Capital loans. Businesses of all types need Capital to not only maintain their sales volume but grow it. Offering Working Capital fits within BankCard Central’s strategy of consistently meeting and exceeding their customer’s expectations and will assist BCC's overall customer growth and retention strategy.
Capital Direct was chosen because they are an experienced market leader for small business funding. Capital Direct provides a multiple lending source solution, insuring the ability to achieve merchant’s target funding goals, even in difficult credit risk circumstances.
“We needed a Working Capital provider that will treat our customers with the same high level of customer service that we maintain,” remarked Matt Hynes, Vice President of Sales for BankCard Central. “Capital Direct impressed us with their speed, efficiency and their ability to secure funds for 90% of their Working Capital requests.”
Kenneth Goldstein, President of Capital Direct, noted that “BankCard Central maintains a very strong bond with their customers. We look forward to providing the financial assistance to allow their clients and their relationships with them, to grow.”
Looking for Working Capital? Find out more about BankCard Central's merchant cash advance programs.
About BankCard Central
BankCard Central provides high speed credit card processing and merchant cash advances for retail, restaurant and eCommerce merchants. BCC has built their company on long-term customer relationships and countless referrals. BCC is well known for the ability to develop tailor-made solutions and process hard to place merchants. BCC has a technology driven gateway with connections for both domestic and international.
About Capital Direct
Capital Direct is a market leader; an 8 year old commercial lending brokerage firm with extensive experience in assisting small businesses. Capital Direct assists small business owners, currently facing the challenge of getting the Working Capital needed to start, maintain and grow merchant's businesses. In addition to Working Capital, Capital Directs' services include: Commercial Property purchase and refinance, SBA loans, hard money loans and equipment leasing.
BankCard Central, a leader in the credit card processing industry, is continually partnering with value added products and services to benefit merchants.
MUST Card recently introduced a dynamic online shopping mall and reward card program designed to bring shoppers, merchants and their communities together. It is a powerful force that allows merchants to join with local non-profits and national online merchants to generate traffic and revenue for all merchant types.
The joint venture will offer merchants the unique BCC platform that includes credit card processing combined with a special micro loan program thru mIQro Money. The merchant program will also include free advertising for increased traffic, sales and redemptions.
The MUST Card and Private Branded Malls are utilized by our clients and marketed heavily to their members, as a Free “Value Added Benefit” that offers substantial savings on every day purchases. The MUST Card will be accepted at millions of locations and rewards are earned by the cardholder whenever it is utilized through the Mall or at a "MUST Card" participating merchant.
Martin Berns, CEO of MUST Card states “The program initiated with an on-line shopping mall that includes over 1100 participating national merchants and evolved into looking for an in-store program whereby shoppers could combine their reward earnings with their Mall earnings. The perfect solution came into being with the partnership formed with BCC.”
Doc Smith, a MUST client & President of Kairos commented, “The MUST Card combined with BCC Merchant Services has given our organization a great boost. The nonprofit organizations and merchants we market to, love the combination of the on-line Mall and in-store reward ability. Merchants are now even more eager to join because of the free advertising and the traffic generation and additional sales gained as an authorized MUST Card Give and Redeem Merchant”.
More information on partnership with miQro Money is coming soon. It will be the premier retail merchant resource that gives retailers access to instant cash advances up to thousands in real-time 24/7.
MUST Card recently introduced a dynamic online shopping mall and reward card program designed to bring shoppers, merchants and their communities together. It is a powerful force that allows merchants to join with local non-profits and national online merchants to generate traffic and revenue for all merchant types.
The joint venture will offer merchants the unique BCC platform that includes credit card processing combined with a special micro loan program thru mIQro Money. The merchant program will also include free advertising for increased traffic, sales and redemptions.
The MUST Card and Private Branded Malls are utilized by our clients and marketed heavily to their members, as a Free “Value Added Benefit” that offers substantial savings on every day purchases. The MUST Card will be accepted at millions of locations and rewards are earned by the cardholder whenever it is utilized through the Mall or at a "MUST Card" participating merchant.
Martin Berns, CEO of MUST Card states “The program initiated with an on-line shopping mall that includes over 1100 participating national merchants and evolved into looking for an in-store program whereby shoppers could combine their reward earnings with their Mall earnings. The perfect solution came into being with the partnership formed with BCC.”
Doc Smith, a MUST client & President of Kairos commented, “The MUST Card combined with BCC Merchant Services has given our organization a great boost. The nonprofit organizations and merchants we market to, love the combination of the on-line Mall and in-store reward ability. Merchants are now even more eager to join because of the free advertising and the traffic generation and additional sales gained as an authorized MUST Card Give and Redeem Merchant”.
More information on partnership with miQro Money is coming soon. It will be the premier retail merchant resource that gives retailers access to instant cash advances up to thousands in real-time 24/7.
BankCard Central, a leader in payment processing, is continually growing their partnerships to add value to their customer relationships. Because BankCard Central puts the needs of their diverse client base and customers first, they have teamed up with The Primus Group.
The Primus Group is an exceptional organization that has seven of the eight federal diversity credit qualifications. In doing business with BankCard Central and The Primus Group, a merchant can now take advantage of this qualification and unique relationship.
What does diversity mean for my business?
Most companies that do business with federal agencies, military, and state and local agencies are obligated to spend a percentage of the value of those sales to government entities with small and disadvantaged businesses. Sometimes, it is a struggle to find competent, qualified companies to help meet this need. By using The Primus Group to handle payment processing, a company can claim credit for utilizing a diversity company for the full value of the service provided in six of the seven required federal designations (HUBZone, SDVOSB, VOSB, SDB, WOSB, and MBE). Contractors and suppliers to The Department of Defense are even able to receive a 5% rebate for the processing cost for payments received from the DOD.
What types of businesses can receive diversity credits?
All companies doing business with The Primus Group will automatically receive full value of the transaction in each diversity category. The Primus Group is a HUBZone, Service Disabled Veteran, Native American owned, Woman owned DBE/MBE/WBE certified small business.
What are the requirements to earn diversity credits?
The only requirement to earn diversity credits is to do business with a diversity based company. This can take virtually any form, and the credits do not need to be related to the government contract requiring them.
“Partnering with BCC has definitely solidified our relationship with many corporate clients. Meeting diversity spend goals is a major issue for corporate America. Through our partnership with BankCard Central, we are able to contribute to those goals at no cost to the client.” - Primus SVP Todd Betlejewski.
“This relationship is one of our latest innovations in partner development and illustrates our ongoing commitment in responding to the changing payments environment.” - Matt Hynes, Vice President of Sales, BankCard Central.
“Because of the BankCard Central/Primus Group relationship, I have had a lot of success in helping both large and small businesses achieve their diversity credits. BankCard Central and The Primus Group have streamlined a well thought out system so that government agencies and businesses can not only bridge together to do business, but also fulfill a much needed diversity credit market.” - Vice President of RCS, Inc., Henry LoConti, Jr., ISO for BankCard Central.
“BankCard Central along with The Primus Group, makes payment transactions fast, easy and secure for merchants, financial institutions and their clients.” - Colby Fox, President of NAPA, Inc.
The Primus Group is an exceptional organization that has seven of the eight federal diversity credit qualifications. In doing business with BankCard Central and The Primus Group, a merchant can now take advantage of this qualification and unique relationship.
What does diversity mean for my business?
Most companies that do business with federal agencies, military, and state and local agencies are obligated to spend a percentage of the value of those sales to government entities with small and disadvantaged businesses. Sometimes, it is a struggle to find competent, qualified companies to help meet this need. By using The Primus Group to handle payment processing, a company can claim credit for utilizing a diversity company for the full value of the service provided in six of the seven required federal designations (HUBZone, SDVOSB, VOSB, SDB, WOSB, and MBE). Contractors and suppliers to The Department of Defense are even able to receive a 5% rebate for the processing cost for payments received from the DOD.
What types of businesses can receive diversity credits?
All companies doing business with The Primus Group will automatically receive full value of the transaction in each diversity category. The Primus Group is a HUBZone, Service Disabled Veteran, Native American owned, Woman owned DBE/MBE/WBE certified small business.
What are the requirements to earn diversity credits?
The only requirement to earn diversity credits is to do business with a diversity based company. This can take virtually any form, and the credits do not need to be related to the government contract requiring them.
“Partnering with BCC has definitely solidified our relationship with many corporate clients. Meeting diversity spend goals is a major issue for corporate America. Through our partnership with BankCard Central, we are able to contribute to those goals at no cost to the client.” - Primus SVP Todd Betlejewski.
“This relationship is one of our latest innovations in partner development and illustrates our ongoing commitment in responding to the changing payments environment.” - Matt Hynes, Vice President of Sales, BankCard Central.
“Because of the BankCard Central/Primus Group relationship, I have had a lot of success in helping both large and small businesses achieve their diversity credits. BankCard Central and The Primus Group have streamlined a well thought out system so that government agencies and businesses can not only bridge together to do business, but also fulfill a much needed diversity credit market.” - Vice President of RCS, Inc., Henry LoConti, Jr., ISO for BankCard Central.
“BankCard Central along with The Primus Group, makes payment transactions fast, easy and secure for merchants, financial institutions and their clients.” - Colby Fox, President of NAPA, Inc.
Effective January 1, 2011, BankCard Central is required to report your gross reportable sales to the IRS and file an annual information return (per Section 6050W of the IRS Code). To comply with this new law we must insure that your Taxpayer Identification Number (TIN) and the Tax Filing Name for your business matches the information in our system.
What does this mean to you?
You will receive an annual 1099-K beginning 2012 for transactions reported in calendar year 2011. Effective January 1, 2012, if your legal filing name and/or tax Identification Number (TIN) on our system does not match the IRS database, your merchant account may be subject to IRS withholding of gross settled transactions at the current daily rate of 28% until the discrepancy has been corrected. If you are entitled to a reimbursement any withheld amounts will be reimbursed by the IRS with your annual tax filing the following year.
To avoid such actions, BCC is actively working with the IRS to validate the information we currently have on file.
If we have not been able to match your tax filing name and/or the Tax Identification Number, we will notify you and request you take immediate action by correcting the identified discrepancies. This information will need to be validated no later than June 10, 2011.
If you would like to validate your information now, complete the form with your correct Legal Tax Filing Name and TIN as it appears on your federal tax return. Download the W9 Form.
What does this mean to you?
You will receive an annual 1099-K beginning 2012 for transactions reported in calendar year 2011. Effective January 1, 2012, if your legal filing name and/or tax Identification Number (TIN) on our system does not match the IRS database, your merchant account may be subject to IRS withholding of gross settled transactions at the current daily rate of 28% until the discrepancy has been corrected. If you are entitled to a reimbursement any withheld amounts will be reimbursed by the IRS with your annual tax filing the following year.
To avoid such actions, BCC is actively working with the IRS to validate the information we currently have on file.
If we have not been able to match your tax filing name and/or the Tax Identification Number, we will notify you and request you take immediate action by correcting the identified discrepancies. This information will need to be validated no later than June 10, 2011.
If you would like to validate your information now, complete the form with your correct Legal Tax Filing Name and TIN as it appears on your federal tax return. Download the W9 Form.
With the boom in mail order, technology and the convenience of the Internet, many consumers are making card-not-present transactions. Card not present transactions benefit both the consumer and the business owner. By offering the convenience of card not present transactions, customers are able to patron stores hundreds of miles away from their home base. Consumers can now purchase goods and services which would otherwise not be available to them. Stores benefit by having an expanded world-wide customer base and without card-not-present transactions some small businesses would not stay afloat.The downside to card not present transactions is there are criminals who can fraudulently obtain credit card details to purchase goods and services. The ease of making card-not-present transactions means that consumers and businesses have to monitor transactions to ensure that a thief is not making an illegal purchase.
Shopping online is becoming very popular. This allows people the opportunity to save time and money, and is often much more convenient than going out to the store and dealing with the price of gas, traffic and customers. As a result, a number of businesses are looking to add their wares online, in online stores. Many people are unaware that when they open an online store it will need a credit card processing company in order to be successful.
Today there are many security risks involved when it comes to ordering and paying for items online with a credit card, so you will want to make sure your customers feel secure when using their credit card online. When you open up a store online with a credit card processor, you are protecting yourself along with your customer. A credit card processor is a third party business which will request the money from the card company on behalf of your company. This helps to ensure that you will not be liable for any fraud in the credit card processing that occurs on your site. You will not need to check the security of your business when it comes to credit card purchases, because your credit card processing company will take care of this for you. As a result of a credit card processor, you will always be entitled to your money and you will not have to worry about the validity and security of the card.
A credit card processor takes the guesswork out of credit card processing functions when it comes to security. If you want to be a success with your online items and online store, it is a good idea to make sure your company is protected when it comes to credit card processing by implementing a third party credit card processor onto your online store today!
Today there are many security risks involved when it comes to ordering and paying for items online with a credit card, so you will want to make sure your customers feel secure when using their credit card online. When you open up a store online with a credit card processor, you are protecting yourself along with your customer. A credit card processor is a third party business which will request the money from the card company on behalf of your company. This helps to ensure that you will not be liable for any fraud in the credit card processing that occurs on your site. You will not need to check the security of your business when it comes to credit card purchases, because your credit card processing company will take care of this for you. As a result of a credit card processor, you will always be entitled to your money and you will not have to worry about the validity and security of the card.
A credit card processor takes the guesswork out of credit card processing functions when it comes to security. If you want to be a success with your online items and online store, it is a good idea to make sure your company is protected when it comes to credit card processing by implementing a third party credit card processor onto your online store today!
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