Skip navigation
All Places > In the News > Blog > 2017 > September
2017

kevin eksterowicz.png

Kevin Eksterowicz is a Talent Acquisition Leader here at Vantiv. I asked him what he loves about his job, and what advice he has for college students and recent graduates entering the job market.

 

How did you get into HR?

Like a lot of people, I actually sort of “fell” into HR. I majored in Marketing in college and I had my heart set on working for a huge NYC ad agency. The first opportunity they could offer me was as a Recruiting Coordinator serving the creative department and I jumped at the chance. A year later, I got the opportunity to work in a true advertising role. Sure enough, after a few years in an ad exec role, I realized that I missed HR and actively sought to return to Recruiting.

 

What do you love about your job?

What’s especially nice about the world of Talent Acquisition is that you’re helping people and you get the gratification of feeling needed. You have hiring managers with teams who are feeling the pain of a vacant position and you’ve got candidates who are actively seeking to make a change. You get to ease the pain of the internal client while helping someone gain the opportunity to take their career to the next level. It’s a win-win! The icing on the cake: you get to build relationships every day and no two days are the same.

 

What's the best job-seeking advice for college students or recent graduates you've heard?

It probably sounds like common sense but, “do your homework on the companies you’re applying to,” is easy, low-hanging fruit with big impact. If I call a candidate and they can’t remember the role they’ve applied to or what the company does, it’s a huge strike against you. Apply to roles and companies that really intrigue you and that you would be excited to interview for. A recruiter and a hiring manager can usually see right through a superficial interest level. I’d add that with the world of social media, it’s vital that things like your Facebook page and LinkedIn profile only paint you in a positive, mature, responsible light.

 

What's the worst job-seeking advice for college students or recent graduates you've heard?

“Cast a wide net by applying to lots of jobs that look exciting to you at a company.” 

As a recruiter, if I see a candidate who had applied to a wide variety of jobs, I’m likely to perceive them as unfocused and possibly desperate – just eager to get a foot in the door but not invested in something specific and therefore more likely to leave the role/company early.

 

Do you have any tips for college students or recent grads on making their resume stand out?

Yes! So many tips, but I’ll focus on the big ones.

  • Tweak your resume so that you highlight your skills and experiences that relate well to what the employer is looking for as stated in the job description. Don’t assume that they’ll just connect the dots – help them get there and make those highlights your leading bullet points under a specific job or internship.
  • There’s really no reason for your resume to be more than 1 page unless you’re coming from a graduate program and are already deep into your career. That said, limit your bullet points to the most important contributions you’ve made.
  • Quantify wherever you can! Example: “Increased customer service scores by 28% as a result of…”
  • Skip the objective section that so many people include at the top of their resume. The objective is to land the job you’ve just applied for and we already know that.
  • Have a second set of eyes review your resume. Typos can be deadly as first impressions go!
  • Do you have any tips for college students or recent grads on making the most of an internship?
  • Perform as if your entire internship is an interview because that’s really what it is. Come to work every day as if you’re fighting the competition to keep your foot in the door with the company. 

 

 

Want to know when Vantiv will be recruiting at your college or university? Click here for a list of our upcoming career fairs.

gjsissons

Pay with Google

Posted by gjsissons Sep 19, 2017

Google easy checkout easy revenue photo tw.png

An opportunity for increased sales and conversions


Mobile wallets have been in the news recently, with much of the focus on the relatively slow adoption of mobile wallets in North America. When looking at statistics though, the answer we get often depends on the question we ask. Rather focus on a few mobile wallets, we might instead ask, “What percentage of online purchases are made using stored credentials?”


According to Mckinsey, the answer to this question is a much bigger number - already around 50 percent. Every time we purchase an app or movie in the Play Store, buy something on Amazon Prime, or shop at our favorite web store, the chances are good that we’re using digitally-stored credentials. Mobile wallets represent just a slice of a broader set of digital payment options already accessible from mobile devices.


For online shoppers, convenience is king


Few customers have the patience to key in payment card and address details on a small screen device like a phone. Unlike the point of sale, where mobile wallets provide only minimal added convenience, for online purchases the difference in convenience is huge. For online merchants, providing access to stored credentials is essential. Consumers purchasing online would much prefer to authenticate themselves with a thumbprint or password than key in a hundred or more characters. This consumer behavior explains why according to the same Mckinsey study, total U.S. digital wallet transactions (broader than just mobile wallets) is forecast to grow to $1.2 trillion by 2020, representing approximately 18-20 percent of retail spending. For wallets, online commerce is where the action is.

 

About Pay with Google


Pay with Google is a new service offered by Google, implemented using the new Google Payment API.  Google is one of the world’s most recognized brands and Google users across the globe have hundreds of millions of credit and debit cards saved to various Google accounts. These users make purchases on Google properties like the Google Play, YouTube, Chrome and more.


With the new Google Payment API, merchants can reach these same customers by letting them use their cards on file with Google to make quick, easy purchases from mobile apps and websites when they’re shopping from mobile devices or using the Chrome browser.

 

pay_with_google.PNG

For mobile users, this offers a new level of convenience. Even if I’ve never visited a merchant before, as a consumer, I can select “Pay with Google” as an alternative to keying in payment card details. Google will look up any payment cards I have on file, present them to me, and allow me to choose the credential to use as shown above.


Pay with Google extends Android Pay functionality, however unlike Android Pay which can be used at the point of sale (tapping your phone in a store or restaurant) Pay with Google is designed for online purchases only. Consumers that have already activated their Android Pay wallet can continue to use their Android Pay credentials, providing a seamless transition for users and merchants already supporting Android Pay. The main difference when users Pay with Google is that they can access any payment card on file with Google, even if they’ve never activated a mobile wallet.

 

Lowering the barriers to online commerce


For merchants, Pay with Google is an important innovation. Juniper Research estimates approximately 24 million Android Pay users in 2017, and Google already has hundreds of millions of cards on file across its various platforms. By removing the need for consumers to pre-load a payment card into a wallet, merchants can benefit from faster checkouts, more conversions, and increased sales.


While Pay with Google is significant for all merchants, it may be especially important for small merchants competing with larger online retailers. Pay with Google helps level the playing field, providing all merchants with the opportunity to offer the same streamlined purchase experience that users expect from tier-one retailers. Consumers can enjoy a seamless checkout experience even if they’re visiting a merchant’s website for the first time making it easier to attract new customers.

 

Pay with Google and Vantiv


Vantiv is presently one of just a few payment providers able to offer Pay with Google functionality for merchants. Vantiv’s Pay with Google integration utilizes an existing server-to-server connection between Vantiv and Google that facilitates the secure and efficient transfer of payment credentials and provides developers and merchants with a straightforward integration experience.


Whether merchants are already using Android Pay with Vantiv, or are just getting started with digital wallets, Vantiv can help merchants get up and running quickly.


Developer resources for Pay with Google will be available at Vantiv’s developer portal, Vantiv O.N.E., in the Mobile & Digital Wallets section once Google officially unveils the Google Payment API. Extensive documentation and code examples on Vantiv O.N.E explain how developers can add Pay with Google functionality to their Android App or their website.


Effortless checkout is what customers want. Register today for our Oct 5th webinar to learn how to implement Pay with Google for your business.


If you have questions or comments about Pay with Google or any other digital wallet, I’d love to get your thoughts and comments.

gjsissons

Understanding Interchange

Posted by gjsissons Sep 6, 2017

A Primer on Card Processing Fees for Developers

For developers who have worked mostly with eCommerce gateways, coding to a payment processor can be a different experience. The interfaces can feel a little more complicated because they expose additional fields and capabilities including support for various types of card present transactions. It turns out that understanding topics like interchange fees, assessments, and discount rates are worth a developer’s time.  By keeping processing fees in mind when building payment applications, developers can code in a fashion that can potentially help merchants avoid fees or reduce chargebacks.

 

Types of credit card fees

 

Interchange and assessment rates and fees

Certain fees are usually non-negotiable, including interchange and assessments.  Interchange and assessment fees are determined by the card associations and are charged to payment processors, who then collect the fees from their merchant clients.  Interchange goes to the authorization network (the banks that issue credit cards) to pay for the verification and routing of funds, and assessments go to the card brands (Visa, MasterCard, etc.) for the privilege of using their cards. The interchange rates are based on how a transaction is conducted—whether it’s swiped, dipped, keyed, conducted online, and well as the merchant’s business type, size, and many other variables.

 

Acquirer fees

In addition to collecting interchange and assessment fees for the card brands and networks, credit card processing companies also known as “acquirers” also assess fees to cover the costs of the services they provide to merchants.  Unlike interchange and assessment fees, this type of fee can vary by processor and can sometimes be negotiated.

Fees in this category pay for services such as equipment rental, payment gateway access, PCI compliance programs, minimum processing amount, online reporting, and many other value-added services that make payment processing convenient and reliable for merchants.

Sometimes credit card processor fees are listed separately from interchange and assessment fees, but some processors bundle them into one rate.  It’s important to talk to your credit card processor about their particular fees including what they are for, how they are collected, and whether you need the particular service associated with the fee.

 

Popular pricing structures

Pricing structures can vary widely and are complex by nature.  It’s important to note that one pricing model isn’t inherently better than another. It all depends on your business and the variables noted above regarding business type, processing volume, acceptance methods and so on. Let’s take a look at some of the popular pricing strategies used by processors.

 

Flat rate pricing

Flat rate pricing consists of one monthly fee that covers all the processing services a business needs and is commonly offered by payment facilitators (PayFacs) that don’t require a merchant account.

This type of pricing is non-negotiable and doesn’t fluctuate with transaction volume.  Every transaction receives the same rate.  This appeals to businesses that value simplicity and don’t have large transaction volume or high average ticket values.

 

Bundled or tiered pricing

In a bundled or tiered pricing model, transactions are categorized into different pricing tiers—qualified, mid-qualified, and non-qualified—based on their risk factors like whether the card is present, whether it was swiped or key entered, and whether PIN or signature is captured.  Qualified transactions are the safest and therefore have the lowest rate whereas non-qualified transactions are the riskiest and have the highest rate.

This type of pricing generally requires a merchant account and can save money in the long run for larger, more complex businesses due to their processing volume and card acceptance variables.

 

How does this impact the developer?

 

How you code payment transactions matters because decisions you make can affect Interchange fees.  Following card brand rules is essential to not only minimizing fees but instances of fraud and chargebacks as well. As examples:

 

  • For card not present transactions using AVS to deter fraud, the accuracy of the address match (returned in response to an Authorization) will impact interchange rates – the better the match, the lower the rate.
  • Providing detailed metadata in payment transactions (like industry types, terminal types, electronic indicator codes and commercial card IDs) can also help merchants obtain more favorable interchange rates. If this information is not included in an Authorization request, card brands may err on the side of caution, defaulting to higher rates.
  • For B2B applications, collecting and passing data fields required for Level II or Level III transactions can help reduce interchange rates further.

 

For developers, to minimize merchant costs, it is important that their payment SDK or API provides the ability to accept and pass on as much of this supplementary metadata as possible. Vantiv’s triPOS and Express APIs for card present transactions are good examples of APIs that do this. Both allow for extensive metadata collection including things like freight, duty, taxes, ship-from and destination zip codes, and a variety of other items that can affect interchange fees.

 

To learn more about Vantiv APIs for point of sale developers including the triPOS and Express platforms described above, visit our Point of Sale Integration resources.

 

For similar resources for card not present and mobile payment integrations, visit our developer eCommerce resources.