EMV is like any other credit or debit transaction, except that users provide their account information on a card that is embedded with a microprocessor – or smart chip – that interacts with the point of sale device. This helps confirm that the card is valid and, in some cases (when Chip & PIN are used), that it belongs to the person using it.
First introduced in 1993, 1.5 billion EMV cards have been issued, with over 21 million EMV acceptance point of sale (POS) terminals in use worldwide1. Although EMV cards and terminals are not yet common in the U.S., there is growing interest to use EMV to help increase fraud-protection in the U.S., especially when fraud liability shifts from the card issuers to merchants in October 2015. Continue reading
Did you process Visa or MasterCard between Jan 1, 2004 – Nov 28, 2012?
You may be entitled to a Payment Card Interchange Fee Settlement payout. Continue reading
At Paladin, we are always exploring new methods to advance the ways our customers interact with and leverage our software solutions. We are excited to introduce “Excellence in Coaching,” a new series of free bi-weekly webinars! Initial topics include: distinctive features, custom reporting, loyalty programs, procedure recommendations, detailed instruction on new features, Mobile2 apps and more. Beginning June 30th, “The Top 10 Most Overlooked Features in Paladin POS” will kick things off. This presentation was well received at the recent Paladin User’s Group. To discover how you can participate in this and other Excellence in Coaching Webinars, click here. Continue reading
Ace Hardware of Orange City is a family-owned store located in a small town of just over 10,000 residents. Their nuts & bolts and lawn & garden offerings, as well as a phenomenal paint department allow them to go the extra mile in convenience-based customer service.
Richard finds the greatest reward in helping customers – being able to provide just the right solutions to their problems. In his many years in the industry, Richard has seen a drastic change in inventory management, “You have to maintain your investment by getting rid of the bad SKUs and increasing the good ones.” He has been successful in staying competitive with price and selection. The key to his success? Continue reading
Knowledge is power: The power to inform. The power to learn. The power to connect.
A knowledge base is a collection of articles used to educate employees and as an avenue of public relations. How do you create excellent knowledge base articles for your company? Continue reading
You open your email to discover the interface has been completely redesigned and now you can’t find that one button you need most. The trendy app you just downloaded seems so complicated to navigate. And you’re not sure you want to update your mobile device and risk having to learn to operate it all over again.
Each and every one of us have likely experienced this frustration. As technology increasingly penetrates every aspect of our lives, we use it for everything: banking, shopping, planning the day, staying healthy, entertainment, navigating and staying in touch. We have become so accustomed to having it, we couldn’t live without the conveniences and options it offers… Yet something still seems to be missing. Why isn’t technology collectively easier to use? Continue reading
“The lowest price wins!” Or does it? In recent years, the retail industry has experienced a dramatic shift. Pricing wars have taken a backseat to consumer experience in outmaneuvering the competition. Continue reading
Have you ever wondered how your small business can compete with the big box stores? Your store can compete and thrive amongst the larger businesses.
1. Master Your Niche
Big box stores may have a larger amount of shelf space for inventory of all kinds, but your business can create and master a niche unique to you. Choose a business niche that the larger store may be overlooking and become an expert in your field. Customers today have the technology at their fingertips to price shop and compare online, but your expert knowledge will give you an edge when your customer has questions and concerns.
2. Create Store Loyalty
What is ROI?
“[Return on investment – ROI – is] a performance measure used to evaluate the efficiency of an investment or to compare the efficiency of a number of different investments. To calculate ROI, the benefit (return) of an investment is divided by the cost of the investment; the result is expressed as a percentage or a ratio.” – Investopedia, Online Dictionary
Efficiency is an important aspect of managing a store. Your point of sale (POS) system affects your business by managing your inventory investments and offering various ways to track your store’s ROI.
When it comes to your point of sale solution, Paladin increases your return on investment––or ROI—by increasing how efficiently your store runs. How do we achieve this? Continue reading
EMV – Learning the Basics
EMV stands for EuroPay® MasterCard® Visa®, the three entities that originally worked together to create worldwide standards for the chip card to ensure global interoperability. Today, EMV has more members, including Discover®. EMV is a payment method that combines a plastic card with an integrated circuit chip (ICC). The primary purpose for using an EMV chip card is to help reduce card theft by including a mechanism to validate the identity of the user.
An EMV card uses the integrated circuit chip (ICC) to hold the account number and other sensitive data instead of using a magnetic stripe. The chip also contains logic for transaction processing and risk management. It is important to note that this data is not encrypted; it is all in clear text. Continue reading