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Value Added Services Designed Exclusively for ISVs

Blog Post created by nnagisetty on Feb 6, 2017

Value added services offer retailers a platform to help drive repeat business, enhance customer stickiness, and more importantly, understand their customers’ buying behaviors and patterns. Loyalty and marketing programs and data analytics give retailers valuable insights into their customers’ buying preferences and provide the information needed to create effective marketing programs.  An Accenture survey recently reported that 54 percent of shoppers said they are open to sharing personal information and shopping preferences with retailers in order to receive personalized offers, compared to 51 percent last year, and 33 percent in 2014.[1]

 

The ability to track purchases online, on a mobile device, and in-store gives consumers the flexibility to buy across channels and return products in different channels. These and other features help enhance the customer experience, and are helping drive consumers to adopt mobile payments.

 

According to CrowdTap, once in-store, more than 80 percent of consumers use their mobile phones to compare prices on other retail sites and social networks, and see if stores have online coupons or loyalty programs.[2]

 

At Vantiv, we understand that every point of sale business is unique and serves a specific set of customers. Our value added solutions are designed specifically to help your business succeed, no matter what your system, form factors, or target market needs.

 

A recent survey from Boston Retail Partners revealed that 69 percent of retailers see opportunities to utilize social media to enhance the customer experience.[3] Developers have the option to integrate to a vast array of value added services designed specifically to help their customers leverage social media to generate more revenue, strengthen their brand and improve the consumer experience. Our TechLift and TechTools are designed in a manner to help you enhance your merchant and consumer experience and drive more repeat business.

 

Below are a few of our value added services that you can take advantage of when integrating payments to your point of sale system. Our team of dedicated TechLift experts can help you get started.

 

StoreCard

StoreCard is Vantiv Integrated Payments’ suite of stored value solutions designed to create an exceptional merchant and consumer experience. These solutions make it easy for developers to offer customers a feature-packed gift program. Integrating to StoreCard automatically gives your merchants access to customer rewards, mobile gift cards, and more. Additionally, StoreCare features promotional capabilities including social media promotions, digital initiated promotion cards, and more.

 

StoreCard enables next generation gift features like mobile gift payments, mobile gift card account management, rewards, and social promotion. eGifting capabilities are integrated into StoreCard providing a single integration for POS developers to enable seamless processing with both plastic cards and eGift cards

 

Account Updater

Account Updater is available for businesses with recurring and card on file billing needs. Integrated with Visa and MasterCard’s account update services, Account Updater makes card management automatic and easy when updating stored token (PASS) records. The solution eliminates the need for merchants to track down customers to update their payment information for recurring billing services. Coupled with our Transform Tokenization technology, Account Updater offers a valuable service that your merchants – and their customers – will appreciate.

 

Hosted Payments

BI Intelligence, Business Insider's premium research service, estimates the number of online shoppers has grown by nearly 20 million from 2015 to 2016. And these 224 million shoppers are spending more, as the total amount spent online grew from $61 billion in the first quarter of 2015 to $68 billion in Q1 2016. Finally, these customers are transacting more frequently, as the number of online transactions has risen by 115 million from 2015 to 2016.[4] Make sure to take your business from in-store to online by enabling our hosted payments option. With a simple API call, your hosted payments page can be displayed in a number of ways, including a full page redirect, an iFrame, a popup etc. and can be displayed in an embedded or non–embedded format.

 

CardSense

Our Express platform provides EnhancedBINQuery to determine if a card falls into a specific BIN range.  CardSense is used to determine if a Visa or MasterCard card falls into a specific BIN range and returns a variable number of fields, each representing a single BIN attribute, such as PrepaidCard, DebitCard, and DurbinBINRegulation.

 

Data and Analytics

Retailers and ISVs have access to an array of metrics on their payment transactions to help better understand shopping patterns and purchasing behavior.  We also provide access to in-depth programmatic reporting on our Express platform. Analytics such as these are also helpful in experimenting with new customer outreach programs.

 

 

Security Features:

Unlock a bundle of security features with our security solutions which include:

 

Tokenization

Reduce the financial risk associated with storing sensitive cardholder data by eliminating the need for merchants to store the data at all.  Payment applications can create payment records on our servers by initially providing the cardholder account number, expiration date, and other card information.  A unique identifier is then generated and provided to the business application. That identifier acts as a pointer for all subsequent transactions and can be stored.

 

Recurring Transactions

A unique type of transaction where consumers authorize merchants or solution providers to bill a specific card on a regular basis (e.g. monthly membership fees).  Once merchants have scheduled a payment within their recurring billing system, the system submits the transaction details and a flag indicating that it is a recurring transaction, along with the previously-acquired pointer, to our processing platform.

 

Point-to-point (P2P) encryption

Get more secure payment processing with P2P encryption provided through devices from industry leading hardware manufacturers. Maximize card data protection and transaction security from the point of swipe all the way to authorization. All of our EMV capable devices support P2P encryption as well.

 

PCI validated point-to-point encryption (P2PE)

Vantiv Integrated Payments offers the only validated P2PE solution, the strongest protection per PCI SSC for a merchant’s business, that supports Verifone. By leveraging Vantiv’s PCI-validated P2PE solution and our PCI PTS SRED certified hardware, payment applications are removed from PA-DSS compliance and merchants can qualify for reduced PCI-DSS scope. Other encryption products are available, but only Vantiv offers VeriFone PCI PTS certified hardware. Our P2PE certified devices are more secure because the solution is designed to deter tampering from ordering to processing. If malicious activity is detected, the device is disabled, preventing a breach at the point of entry.

 

 

 


[1] https://www.accenture.com/us-en/insight-retail-holiday-shopping-survey

[2] http://corp.crowdtap.com/retail2016

[3] https://bostonretailpartners.com/2016-brp-special-report-social-media/

[4] http://www.businessinsider.com/ecommerce-payment-technologies-overview-trends-2016-10?IR=T

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