Indiana-based Retriever Merchant Solutions (RMS) is a leading provider of payment solutions that has expanded to 225 employees. Headed by Brian Kamstra, Retriever Merchant Solutions has been recognized by outlets such as Retail CIO Outlook and is a top independent sales office for Worldpay, formerly Vantiv.
In June, Worldpay launched its Open Banking Hub platform, making the shopping experience more convenient for customers. The open banking movement is increasingly gaining traction in global banking because it gives shoppers more control over their financial data through APIs (application programming interfaces). Worldpay was able to move past the challenges that some open banking platforms have related to compliance with new rules for accessing API-based networks and giving shoppers new payment options. The company’s Open Hub Banking system works by giving bank providers one single point of integration, thus making the process simpler. The system offers shoppers a few benefits. For one, they have access to their own bank account information after they make a purchase online because the hub automatically redirects to their bank’s provider to complete the order. They can also choose which account they want to pay with this application. Other benefits are related to eliminating third-party processing. The customer can see their account balance in real-time, and when requesting a refund, the customer gets a refund in real-time as well.
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Indiana-based Retriever Merchant Solutions (RMS) is a top independent sales office for Worldpay that has expanded to employ 225 sales representatives and office staff. Headed by Brian Kamstra, Retriever Merchant Solutions was recognized by the technology online magazine, Retail CIO Outlook, for being a Top 10 Retail Payment Solution provider.
An article in the online publication recently discussed the importance of collaboration among financial industry stakeholders to provide secure payment options as payment processing evolves rapidly. As it stands, several stakeholders, including the Federal Reserve and the private sector (merchants, central banks, technology solutions companies, etc.), are faced with the challenge of securing a sophisticated payment processing system that is shielded from attacks, such as data breaches, fraudulent ATM withdrawals, payment card skimming, and other breaches. At this point in time, these entities have made significant strides in reducing the risk of payment processing breaches. A few of the ways this has been done is by placing a high priority on authentication processes, finding ways to protect sensitive information, and sharing fraud and cyber threat information. With that stated, there are areas that need to be addressed. Among the areas that need to be addressed, payment identity management is a priority. Fraud related to breaches in consumer information, account takeovers, and “card-not-present” transactions reveals the limitations in the current system. Central to implementing strategies that reduce fraud is managing risk. One suggestion is to align risk with authentication methods, which would increase security. Risk-based authentication involves applying the right amount of security measures (fingerprinting, facial recognition, push notification) to make each customer transaction unique. More importantly, these methods can be scaled as new technologies and services are implemented, and risk-based authentication methods are universally accepted. Retriever Merchant Solutions is a full-service provider of transaction processing technologies, software, and equipment. In addition to assisting companies in the selection and installation of payment processing systems, Retriever Merchant Solutions also provides expert consulting on compliance issues such as merchant liability.
The introduction of the EMV chip card prompted credit card companies to shift liability from fraudulent transactions onto merchants. This is because EMV chip cards create a new transaction ID for every purchase, which makes the cardholder’s information much more difficult to capture and steal. If merchants accept traditional magnetic stripe payments, they are increasing the likelihood of credit card fraud. For this reason, most merchants are now held liable for this type of fraud. To avoid this, businesses should ensure that all customers paying with chip-enabled cards tap their card for payment. There are some exceptions. For example, some industries like gas stations are not included in this rule change. Additionally, merchants are not responsible for chip-enabled payments with a stolen card or swipe payments made due to a malfunctioning chip. Please visit http://www.rmsnpc.com/ for more information! Led by executive Brian Kamstra for more than two decades, Retriever Merchant Solutions delivers state-of-the-art payment processing systems to more than 30,000 businesses across the country. Retriever Merchant Solutions specializes in equipment and software that facilitate transactions made with credit, debit, and electronic checks.
Also known as eChecks, electronic checks are one of the oldest and most commonly used forms of electronic payment transfers. The use of eChecks is regulated by the Federal Reserve. Direct deposit of a paycheck and bill autopay are examples of eCheck transactions. When a customer, business, or other entity sends an eCheck to a recipient, the money is moved from one account to another using the Automated Clearing House (ACH) network. The ACH reduces the cost and processing time for electronic checks. Businesses that want to accept eChecks must set up the appropriate payment gateway. Check scanners allow companies to accept paper checks electronically, while specialized payment processing software can enable eCheck transactions. Please visit http://www.rmsnpc.com/ for more information! Indiana-based Retriever Merchant Solutions is a payment processing company run by Brian Kamstra. Retriever Merchant Solutions supports various charitable efforts such as the Chasing Cans for Cancer.
The Chasing Cans for Cancer event has made considerable strides in its mission to help both cancer patients and their families. The event was created in 2010 after a friend of the Berger family succumbed to ovarian cancer. The Bergers, on behalf of the friend’s wish, decided to memorialize her by hosting this event, which later became a 501.3.c fundraiser. The two-day event includes calf roping, steer wrestling, ladies open goat tying, open pole bending (entertainment), and a 3D-open barrel race. The numbers of people affected by cancer in America are astounding, and while the event is a small one, it has managed to accomplish a few things. As of 2019, they have donated a considerable portion of the money to at least four families fighting cancer. The organization has also been able to give over $100,000 to families in need. Retriever Merchant Solutions, a payment processing company headed by Brian Kamstra, also contributes to area charities. One of the charities that Retriever Merchant Solutions is involved with is Tabitha House for Women, based in Harvey, Illinois.
Under the umbrella of Restoration Ministries, Tabitha House for Women empowers those who have succumbed to addiction. Restoration Ministries funds 22 programs that address addiction in men, and women, provide opportunities for at-risk youth and assist families struggling with poverty, and Tabitha House for Women is one of those programs. The program is based on Christian principles that convey messages of love and hope to motivate these women to permanently change their lives. The community is a haven where women can get themselves together and gather the skills they need to become productive people. Upon entering the program, women receive counseling, educational opportunities, bible studies, and job training. Women with children and who are on probation are given a court advocate that works with them to reunite the family. Help does not come without responsibility on the part of the women, though. To be accepted, the person must be clean between five and seven days, be willing to submit to routine drug testing, and be willing to submit to the authorities in the home. Moreover, they have to be committed to recovery, restoration, and re-entry into productive lives. Retriever Merchant Solutions partners with companies of all sizes to acquire and maintain payment processing systems that increase revenue and boost customer satisfaction. Operating for nearly three decades, Retriever Merchant Solutions offers a diverse line of payment terminal equipment and applications, including virtual terminals.
Virtual terminals enable companies to process credit card payments without the need for a physical card. These terminals are web-based and can be accessed from multiple locations. They include several security features to protect both companies and customers. The systems are routinely monitored, and the terminals meet the security standards set by credit card companies to ensure that customer data is protected. Credit card payments are also verified by matching the credit card number with the customer’s address and the security code on the back of the physical card. Transactions with incomplete or incorrect information are rejected. All virtual terminals also process payments through an authorization gateway that encrypts every transaction. Please visit http://www.rmsnpc.com/ for more information. Assisting companies looking for streamlined payment solutions, Retriever Merchant Solutions offers top-of-the-line payment transaction systems, back-of-house management systems, and point-of-sale equipment and software. Retriever Merchant Solutions also specializes in setting up data-enhanced customer loyalty programs and gift card programs.
Modern payment transaction systems enable retailers to set up seamless gift card programs that can attract new customers and increase sales. Effective gift card marketing strategies include: - Advertising. In addition to displaying gift cards in their stores, companies can sell their gift cards through third-parties. Locations that feature gift card kiosks include highly trafficked malls, gas stations, and supermarkets. - Rewards. Some stores may offer small-denomination gift cards as part of their customer loyalty programs. This signals that a company values its customers and encourages repeat business. Often, customers spend more than the gift card amount. - Social media. More than three-quarters of consumers' buying decisions are influenced by a company’s social media presence. Well-designed gift cards are visually appealing subjects for image-focused social media sites, such as Instagram and Pinterest. Please visit http://www.rmsnpc.com/ for more information. Operating just outside of Chicago, Retriever Merchant Solutions specializes in connecting companies in diverse industries to tailored payment processing equipment, and software. Retriever Merchant Solutions is an authorized retailer of the point-of-sale system ShopKeep, which integrates employee time sheets, sales transactions, and inventory management.
Digitized payment processing systems can also be used as an accurate and real-time way to track inventory. Inputting all vendor information into a point-of-sale system centralizes all of the information needed to identify supplies and where to purchase them. This same technology can also help determine peak sales periods for specific items. Tracking purchasing patterns can reduce the likelihood of ordering too much or too little inventory. For companies that sell time-sensitive items, such as food products with expiration dates, digitized inventory management protocols can ensure that older items are sold first. Most inventory management software also produces reports that can be used for forecasting, marketing, and analyzing performance indicators. Payment processing solutions provider Retriever Merchant Solutions helps tens of thousands of businesses process transactions quickly and securely. Retriever Merchant Solutions (RMS) connects clients with NPC Secure, an internet-based application that safely processes and stores customer financial information. This technology is ideal for transactions such as recurring payments.
Recurring payment options have benefits for both businesses and customers. However, they must be implemented thoughtfully to avoid some of the associated pitfalls. For example, retailers that offer recurring payments can stabilize their revenue and attract long-term customers. These payment models are also easy to scale and provide companies with valuable information about their customers’ preferences and buying habits. On the other hand, recurring payment models must offer a clear and easy opt-out choice. If not, customers may feel cheated and may be hesitant to sign up for the product or service. Additionally, managing recurring payments can be complex and requires powerful processors and platforms. Please visit http://www.rmsnpc.com/ for more information. |
AuthorRetriever Merchant Solutions - Options in Payment Processing Archives
October 2020
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