NextPay Merchant Services announced the release of its ChargeIT Virtual Terminal, a server-based application that turns any PC into a credit card processing terminal. The new product will reduce costs associated with merchant credit and debit card transactions as well as increase security over traditional “credit card machines” or “client-side” processing applications.
“Identity theft and credit card fraud on the rise -- combined with the Payment Card Industry's (PCI) 2010 deadline for security compliance -- it is extremely important merchants secure their processing networks to protect cardholders’ information. NextPay launched ChargeIT in an effort to meet both the needs of merchants for cost reduction and the regulatory compliance issues of PCI/DSS,” said Lynn Varnell, NextPay Merchant Services chief operating officer.
A virtual terminal is an application which allows ecommerce merchants, retailers and call centers to securely process credit cards, debit cards and checks through any PC. Unlike most virtual terminals on the market, the ChargeIT Virtual Terminal is server-based -- eliminating client-side applications and reducing costs.
“PC-based applications are often very expensive to maintain while customers are at the mercy of the developer to make sure they are running the latest version. The ChargeIT Virtual Terminal is server-based. That means our customers always have the latest functionality and the most up-to-date security enhancements,” said NextPay CIO, Raymond Mimick.
The ChargeIT Virtual Terminal features security protocols not typically found in competing products, such as connection monitoring as well as address, IP and email validation. Additionally, ChargeIT can store and pass purchase order numbers, job codes and descriptions to further reducing a merchant’s processing fees.
By tossing out their traditional terminal, NextPay merchants eliminate a business phone line – a substantial cost saving. Moreover, transactions are typically completed faster as merchants are processing credit cards though a broadband connection – creating better efficiencies and reducing redundancies.
ChargeIT can be used as a standalone terminal or be integrated into other applications, such as a point-of-sale (POS) systems or ecommerce web sites quickly and easily. “We can turn any computer into a credit card terminal or we can give processing functionality to any other application. NextPay developed a full suite of web services to aid integration. The ChargeIT product is flexible, very easy to integrate and highly secure,” Varnell said.
Varnell continued to say most merchant service companies simply resell other company’s technology. This makes it difficult for the merchant to get the proper customer service, understand their security liabilities and stay current on version releases.
“All NextPay technology is developed in-house. Our technology is based on 25-years experience designing and deploying financial service products and fraud prevention tools for large corporations and their end-users. We have distilled that experience and developed a proprietary product that can benefit merchants of all sizes,” he said.