February 2011

Not just credit card processing

Payment Plus offers gift card, electronic check, and ACH services

Payment Plus is your full service electronic payment processing partner.  That means that not only do we offer credit and debit card processing, but we also offer a full spectrum of electronic payment processing options, including gift cards. Read on to find out the benefits of gift cards in our business.

Bring in New Customers

Gift cards given by loyal customers entice friends and families to sample your business.  Cards are ideal for promotional mailings, charitable donations, come-back rewards, and other marketing programs.

Increase Sales and Profits

Most card recipients will spend more than the value of their gift card - 25% more on average - and there's no cash back required.  And, when used for merchandise returns, the value stays on the card and never leaves your business.

Encourage Repeat Business

Stored value cards are great for regular customers, enabling them to conveniently use a prepaid balance for recurring services.


 

Birthdays are the number one purchase occasion for gift cards.  Since birthdays happen year round, the perfect time to start your gift card program is NOW!


Even if you aren't familiar with the Housing and Economic Recovery Act of 2008, there are some aspects of the law that may impact your business.  The law requires credit card companies and electronic payment processors to file annual Information Returns (Form 1099-K) with the IRS that cites their total gross transactions to individual merchants.


In other words, your credit card processor is now required by law to report to the IRS on the credit card transactions that they process for your business.

Because of the law, we are now required to make sure we have the correct Tax Identification Number (TIN), legal business name, and address for each of our customers.  If you feel we may have incorrect information on file, please give us a call.  A new website has been set up to provide more information on this new law and to give you a place to submit updates to your information electronically.

If you have a new address or tax id number, please contact Payment Plus to update your information. 

 

If you would like to receive an email reminder the month that your PCI compliance renewal is due, please contact a Payment Plus representative today.  If you have questions or are unsure of your exact renewal date, or if you need assistance in becoming compliant for the first time, contact Payment Plus for more details.  If you ever receive an email or letter that you believe is questionable, please contact Payment Plus for validation and assistance.