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Services 2017-01-25T11:17:55+00:00

Services – A to Z

Account Updater
Account Updater is our simple solution to three very costly headaches: recurring transactions or renewals that fail to go through and the 30% of accounts that don’t get renewed at all. Problems that cost UK businesses many £1,000s a year.

The biggest problem is when card numbers or expiry dates change, but customers fail to tell you. It’s a growing concern, because rising card fraud means millions more replacement cards going out each year. But it’s easily solved.

Account Updater automatically retrieves up-to-date card data from the Issuer without involving the cardholder. And, by guaranteeing that the data you hold is always current, it eliminates that point of failure for payments and renewals.

Account Updater has reduced cancellations by 24%.  It’s good for customers because, if you’re not chasing them about renewal or missed payments, it’s one less hassle. And that is good for you because it means you are giving them one less opportunity to cancel.

So, if you do recurring billing, Account Updater puts you back in charge of the recurring payment, rather than your customer. It not only reduces the operating costs of staff phoning or mailing customers, but improves cashflow by getting your recurring payments in the bank.

Chargebacks – where the card Issuer is forced to refund a customer because the merchant won’t – are a big deal. Why? If your merchant account exceeds 1% of chargebacks (by volume or number), the card schemes will start to fine you until the volume is under 1%. If you don’t get it below 1% quickly, your merchant account may be terminated.

Not being able to accept Visa or Mastercard would be devastating to many companies. Millions of payments are lost each year through chargebacks, from customer queries or high risk cards or banks. We can minimise your exposure to risk to chargebacks and loss at every point.

We can help you avoid chargebacks even further with:
Card Identification  – spots risky cards and blocks them.
BIN blocking – unique to JetPay – blocks cards from risky banks.
Dynamic Descriptors  – cutting customer queries on statements.

What’s the point of batch processing? To allow volume sales businesses to process their transactions more quickly, easily, securely and cost-effectively? Yes. We do that – it’s a given. But JetPay batch processing adds value too. We’ll help you use it to do better business: to understand your customers, evaluate marketing – and maximise income.

It’s fast
JetPay Batch Processing uses the fastest transaction available and supports over 400 transactions per second – with Real-time Reporting in seconds.

Secure
All our business processes are secured by standard 128-bit digital secure sockets layer (SSL) encryption and protected by our complete and customisable fraud screening tools and velocity checking. Build in our secure tokenisation product or JetDirect and you maximise efficiency, minimise risk.

Cost-effective
We’re not just talking about lower fees. There is no extra infrastructure to invest in either. No need to lease expensive lines or put up with dial-up. You simply deliver and retrieve files through a secure FTP process over the internet.

And built for better business
The enriched information in our reports help you understand customers better so you can target marketing and promotions more effectively and track your success. Combine batch processing with Recurring Payments, Auto Updater and Dynamic Descriptors and you will not only minimise your chances of queries or chargebacks, but maximise payments.

How much are you losing to fraud and chargebacks from problem cards? Not just those issued by institutions in high risk areas. We also mean: pre-paid cards used to set up recurring payments; corporate cards that incur higher Interchange fees and cards issued by banks that raise your risk of chargebacks because they let queried transactions go straight to the Chargeback system. They are all significant sources of loss – and hassle.

JetPay has a unique solution. Our tailored BIN Blocking service uses Bank Identification Numbers to block the specific types of cards that you don’t want to accept. So you can eradicate the risks and losses.

If you are having problems with stolen cards in particular locations – or even one particular individual’s card – we can also work with our partners to help you block cards from particular IP addresses.

Card identification cuts Chargebacks because it spots problem cards (pre-paid payment cards, corporate cards and cards registered in high-risk areas) and blocks them before the transaction can go through (and then fail).

Tailored to your needs, our Card Identification Program can identify and block specific financial institutions or geographic areas that pose a particular risk of losses. It can also identify and block types of card likely to cause losses, especially on recurring or continuity programs. For example, if you offered a product with ‘three easy payments’, you’d want to decline prepaid cards. Why? Because fraudsters will make the first payment successfully on a prepaid card, to get the goods, which they sell at a profit on the grey market, but never make the final two payments.

Online and in-store, Dynamic Currency Converter gives your international customers the choice of converting the bill to their native currency, at the point of sale, or paying in the local currency.

It’s transparent (we offer the current market rate on the day and tell customers what that rate is) and it saves them the cross-border conversion and international fees their Issuer will charge if they pay in the local currency.  All of which is good for you as it cuts excuses not to buy.

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Dynamic Descriptors and Phone Numbers prevent chargebacks from unrecognised charges. That’s because they solve a common problem – customers querying charges they don’t recognise on their statement, especially on card-not-present transactions.

By adding tailored product data to any transaction (and therefore statement), we eliminate most queries, because customers can tell what a charge is for.

Add your customer services number as well and, if people do query a transaction, it means you can resolve it rather than it going to your Issuer for chargeback.

Why is it Dynamic? Basic descriptor services simply add the name of whatever company handles your payments – ‘BACKROOMCO’ – which might not even relate to your website name.

That’s not good enough. Our Dynamic Descriptors can be tailored to show specific products, departments or phone numbers:

YOURCO MEMBERSHIP
YOURCO PET INSURANCE
YOURCO -0800 456321

Whether you use our standalone service, or tie it to Recurring Payments, Dynamic Descriptors will reduce chargebacks, stem losses and boost repeat business by reinforcing your business name.

The JetDirect Tokenisation API is a unique interface that we plug into your website, but which you have no access to. Like Secure Tokenisation, it cuts the costs and burden of storing customer card information because hackers and staff can only access tokens, not card data.

The big difference with JetDirect is that you never hold the card data at all, even for the few milliseconds it would normally take you to receive card details and transmit them to us for tokenisation. Because it’s JetPay hosting the iframe on your site, JetPay collects the data. You never see it at all.
It is 100% secure.

Fast and seamless, we can integrate JetDirect into almost any e-commerce or software environment – so you can have it working in just a few hours, with no downtime and no change to the look and feel of your site.

You get all the benefits of tokenisation – consumer confidence, easier refunds and recurring payments, more reliability, safer migration to the cloud. And because you never see the data at all, you cut your PCI liability to zero. So no more expensive and time consuming PCI audits - just a short questionnaire.

What if you could have a simple and reliable tool that improved customer loyalty, extended their buying power and increased your profits?

Our Recurring Payments service puts regular payments, traditionally serviced by standing order/direct debit, like membership fees - on a card. That's especially good for your customers (it's convenient for them to use and easy to budget). And for you (cuts your costs, retains your customers, increases their spend).

We process thousands of recurring transactions every day – and rising.

People like monthly payments or regular subscription or membership fees: they make life simpler and easier to budget for. And that is good for business.

With recurring payments (or Continuous Payment Authorities), your customers give you a debit or credit card number and permission to take regular payments. You get the money; they don’t get stung with checks or late payment fees. If they decide to cancel, they tell you and their bank or credit card issuer, and it’s done.

If you need a snapshot of current transactions, deposits or refunds – or fraud, funding and chargebacks – you need it now, not tomorrow. Our GetReporting service gives you exactly that: a clear and customisable real-time picture of any user’s account, whenever you need it.

• Concerned you’re nearing your chargeback limit?  Find out immediately.
• Need a customised report to import to your General Ledger system? We’ll run a customised report, with all the fields you require for your General Ledger import, and send it to you daily – even several times a day.

• Does one department need a partial refund breakdown? We can configure down to a specific user level.
• Want to give Customer Service the ability to refund transactions or give partial refunds for service issues but without having access to card information? GetReporting handles that at a click of a button. Users with privilege can look up a transaction online and click a button for a full or partial refund. Click DONE and you are done – a happy customer and a PCI secure environment.

We export to any standard PC/Mac computers in CSV, Excel, PDF. It’s flexible, comprehensive, secure. And real-time.

As for fraud, our real-time Fraud and Risk Monitoring software is built in to all JetPay processing accounts, analysing payment activity so it can alert you immediately to any suspect transactions.

What’s the number one concern around credit cards? Security.

For customers, that’s obvious. But for you, security is more than a concern, it’s a responsibility. When you accept payment by card, you are also accepting to keep that data safe. So what do you need?

To know that your processor is analysing payment activity to identify potential fraud or tumbling attacks. But what value is that if it’s done or reported once a day? Very little.

Yet that’s all you get from most services.

With JetPay, fraud and risk protection is real-time. If we think there’s a problem, we tell you immediately, so you can take action. Our advanced program analyses purchasing patterns and overall trends on your account. If it suspects a transaction of being fraudulent, or tumbling, it alerts you that instant, so you can choose to accept the transaction – or decline it before you lose money.

Our sophisticated Real-time Fraud and Risk Monitoring is included in every processing account. Our advanced software analyses buying patterns. When it suspects a problem (it’s 99% accurate by the way), it alerts you immediately, so you have time to decide whether to accept or decline the transaction before you lose money. And of course, if you want to eliminate your risk of card data theft, check our Secure Tokenisation and JetDirect software.

If you process, store or transmit credit card information, you are required, by the PCI DSS (Payment Card Industry Data Security Standard), to keep it secure. The most effective way of complying with that? Don’t store card information at all. Eliminate it from your network.

Our Secure Tokenisation program replaces sensitive card data on your systems with a unique token that is of no value to criminals (or staff) as they cannot engineer it back to the card numbers. The sensitive data, hardened with our PCI-compliant algorithms and encryption, and stored under maximum security, can only be read by the JetPay processors that generated the token.

The benefits are obvious. More sales, less hassle, greater reliability, more profit:

• More customers trusting you with their details means higher sales.
• Recurring payments, repeat purchases and refunds are easier and more secure.
• By working with Auto-Updater, it boosts security on automatic card updates.
• With card data now secure, you could move more processes and systems to the cloud, with all the efficiency, flexibility and cost savings that brings.
• Fewer problems with your Issuer over reimbursement and legal action.
• No more PCI audits.
• No more third party Token Service Providers. We do it all in-house, giving you one less layer of expense and one less point of failure.

So don’t risk storing card information on your network. We can store it for you while you hold secure tokens. That's reassuring.

Our Transaction Recycling software  automatically re-submits ‘soft declined’ payments for up to 12 days – and turns 30% of declines into approvals. That helps you improve cashflow, lower costs, retain customers. When you have to contact customers it’s embarrassing for them and often results in them cancelling. It’s a targeted service. If a payment gets a ‘hard decline’, it usually means the card is stolen or the account closed, so we ignore those.

Transaction Recycling is for ‘soft declines’, usually due to ‘insufficient funds’ or late payment, where there is a good chance you’ll get your money.

You don’t need to do a thing. Nor do your customers. We can resubmit payments automatically to rules (eg how often we try or which days or dates) that we tailor to your needs.

The result? No drop in your revenue stream, fewer cancelled service requests and lower customer service costs. For you that's higher profits.

Transaction Clean-Up automatically settles transactions at the optimum time and rate. If it spots a compliance problem (eg wrong date or amount) it voids that transaction and authorises a new one that is correct. So you get the best interchange rate without doing a thing.

Interchange rates are not constant. As the risk of your transaction goes up, so do the rates you pay. You need a processor that can automatically settle your transactions at the optimum time and interchange rate.

Are you at risk? Card-not-present businesses are, definitely.

Merchants in certain Category Codes (MCCs) are too. In fact any business that ships to customers is vulnerable to higher rates, if there is a chance that the amount you first authorise doesn’t match the actual transaction value.

How can JetPay help? Our unique Transaction Clean-Up Service does exactly what it says. If it spots a compliance problem at settlement, it automatically voids the incorrect transaction and authorises a new one showing the correct amount or date, so that it qualifies for the best interchange rate. All behind the scenes. You do nothing.

Fulfilment centres that take over two days to ship find this invaluable because of the timeliness rule, which only allows merchants 48-hours to settle a transaction. But, even if you ship overnight, you could still get stung if you find a part is missing and it takes 3 days to replace.

Transaction Clean-up is saving one of our computer hardware clients $12k a month on interchange – and two employees’ time.

If you charge for shipping by weight you’ll pay higher Interchange every time the actual shipping weight is different from the weight you quoted for. And if you sell in Europe, where sales tax varies, you’re also at risk because of the chance that delivery address is in a different sales tax region to the one they ordered from.

But with Transaction Clean-up, problem solved.