BINSmart Cost Manager[TM]: Big Benefit for ISOs, Agents and Small Businesses.Merchant Warehouse's new product boosts processing cost reduction capabilities to help small merchants BOSTON Boston, town, England Boston, town (1991 pop. 26,495), E central England, on the Witham River. Boston's fame as a port dates from the 13th cent., when it was a Hanseatic port trading wool and wine. Having recovered from a decline in the 18th and 19th cent. -- Merchant Warehouse, a premier provider of merchant accounts and credit card processing solutions, today unveiled a new version of its BINSmart Cost Manager[TM] solution. ISOs and agents are now able to provide merchants with an innovative, patent-pending tool that reduces overall processing costs. Once a card is swiped, BINSmart Cost Manager[TM] evaluates whether it is a debit A monetary amount that is subtracted from an account balance. A debit from one account is a credit to another. See credit. , credit, or corporate card, then it calculates the estimated lowest cost processing method and prompts for the best method to run that sale. This means a real savings, especially welcome news for both merchants and agents in these tough economic times. "This new product is the first of its kind, and we are excited to offer it to our ISOs and agents to help them build their portfolios," said Henry Helgeson, president and co-CEO of Merchant Warehouse. "One example of the way it helps save money, BINSmart Cost Manager[TM] quickly determines whether a debit card debit card, card that allows the cost of goods or services that are purchased to be deducted directly from the purchaser's checking account. They can also be used at automated teller machines for withdrawing cash from the user's checking account. transaction should be entered as a PIN or signature-debit. Depending upon a number of factors, including a merchant's actual fees and business type, it automatically prompts the customer with the estimated lowest cost option. Since more than half of card transactions are now made with debit cards, this means a substantial savings for the merchant. In the past, only large establishments have had access to such cost saving technologies. BINSmart Cost Manager[TM] actually turns the playing field in favor of upon the side of; favorable to; for the advantage of. See also: favor the small merchant providing savings opportunities most of the big stores don't don't 1. Contraction of do not. 2. Nonstandard Contraction of does not. n. A statement of what should not be done: a list of the dos and don'ts. even have." BINSmart Cost Manager's[TM] benefits: * Recognizes the difference between a Credit Card, Debit Card, or Corporate Card to estimate lowest processing costs; * Automatically prompts for PIN or signature when a debit card is used, whichever is estimated to be the lowest processing cost for merchants; * Reduces consumer "charge-back" disputes/costs; * Enhances fraud protection with prompt-driven PIN-debit transactions; * Prompts for entry of additional corporate card information to avoid downgrades; * Ease-of-use and minimal set-up with the solution fully installed in the credit card terminal Several types of credit card terminals are available to merchants nowadays. Most have the same basic purpose and functions. They allow a merchant to swipe or key in required credit card information and transmit such data to the merchant service provider. ; * Completion verification See verify. verification - The process of determining whether or not the products of a given phase in the life-cycle fulfil a set of established requirements. of daily close-out procedures to avoid downgrades. More information on BINSmart Cost Manager[TM] is available at; http://merchantwarehouse.com/iso_agent_program/binsmart. About Merchant Warehouse Merchant Warehouse was founded in 1998 on the principle that businesses should be able to purchase credit card processing software, POS (1) See point of sale and packet over SONET. (2) "Parent over shoulder." See digispeak. POS - point of sale equipment and merchant services Merchant services is the name given in the United States to a broad category of financial services intended for use by businesses. In its most specific use, it usually refers to the service that enables a business to accept a transaction payment by use of the customer's credit or at a reasonable price. With over 55,000 merchants, Merchant Warehouse now sets the standard for price, innovation, customer service and integrity. For more information, please visit www.MerchantWarehouse.com. |
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