Processing credit and debit cards with Worldpay Integrated Payments
Accepting credit and debit cards is critical!
At building materials reuse stores, credit/debit card payments often make up to 75% of payment volume. At clothing and furniture thrift stores, that amount is often over 50%. Not only that, but the average ticket size of card payments is usually twice that of cash payments. Customers expect to pay digitally, so you need a merchant services company.
Why you should do integrated payments
There are two different ways to take card payments: integrated payments, and non-integrated payments. With non-integrated payments, the credit card terminal is a standalone device that does not talk to the point of sale system. The cashier needs to key in sales totals manually, and when the payment clears, the cashier needs to manually acknowledge the payment in the point of sale system. This takes extra time and is prone to errors. With integrated card payments, the POS system talks with the credit card terminal, extronically sending over the sales total, and automatically completing the sale in the POS when payment clears.
ThriftCart uses Worldpay Integrated Payments
If you want to do integrated payments with ThriftCart, we use Worldpay Integrated Payments. Worldpay by FIS is the largest payment processing company in the US, and they have a division dedicated to partnering with point of sale providers, like ThriftCart.
Some integrated payment solutions introduce unneeded risk, sending payment information through POS computers when it's not neccessary to do so. Worldpay's TriPOS Cloud integrated payment processing solutions sends credit card data directly to be processed at Worldpay, without first going through your POS computer. Card numbers are encrypted before they leave the credit card machine. They are never accessible to cashiers or anyone using the POS. Card numbers are not stored after transmission. This reduces the scope of what falls under the PCI-DSS rules. (Not only that, Worldpay has solutions to help you become PCI compliant and maintain that level of security. Ask your Worldpay rep about OmniSheild Assure.)
Payment processing can be expensive. (You, as the merchant, are paying for all those rewards and perks that customers get when using their credit cards!) So, you want to get the best pricing when doing payment processing. When you're talking with the sales rep from Worldpay, be sure to have your current processing statement ready. They are usually able to meet or beat your existing rates.
Round-up donations at the credit card terminal
A nice feature that Worldpay introduced with their TriPOS Cloud product on the Verifone MX915 terminal is the ability to prompt customers with a Yes/No question. In ThriftCart, we used this feature
to allow you to prompt customers for a round-up donation. Most mid-sized thrift stores do about 800 credit card transactions per month. About 60% of customers tap Yes when shown a round-up
donation prompt, meaning you get about 480 round-up donations in a month. At an average of $0.50 per donation, that's $240/month just in round-up donations.
A little history of Worldpay Integrated Payments
What is now Worldpay Integrated Payments started many years ago as Mercury Payment Systems. Mercury had a unique strategy of creating tools to allow point of sale software developers to securely integrate with their credit card processing solutions, and partnering with point of sale companies to get their joint product in the hands of merchants everywhere. In 2014, Vantiv, one of the largest payment processing companies in the US bought Mercury Payment Systems. Mercury's customers were able to take advantage of Vantiv's larger market presence to get even better processing. This created a new division inside Vantiv called Vantiv Integrated Payments. In 2017, Vantiv bought UK-based card processor Worldpay and took on the Worldpay name. The combined company now has even higher global reach. So, Vantiv Integrated Payments became Worldpay Integrated Payments. Finally in 2019, financial services giant Fidelity National Information Services (FIS) bought Worldpay to create Worldpay by FIS.