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All is well. According to the NRA (National Restaurant Association), the 2010 restaurant industry outlook for 2010 has brightened. We can all celebrate.
The forecast projects $580 billion in sales which is a 2.5% increase over 2009. When adjusted for inflation, that means sales will essentially be flat. On the positive side, this means that things are better than the previous two years which saw decreases in sales after adjustment for inflation.
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In the past few months I have meet merchants that have showed me letters and other notices where their current merchant service provider has informed them that they have to “upgrade” their pin pads, because of a mandate of the “Payment Card Industry Security Council” and the requirement date of July 1, 2010. Of course you must go thru the provider, because the pin pad is security encrypted based on the processing company of that particular provider. All of this ok, except the cost to “upgrade” is a bit high. One company is charging an extra $25.00 per month if the merchant does not call in and obtain the new PIN Pad Device by February 1, 2010.
As you are changing your clocks in your home, office and car, there is one more place you should also take care of. That is your authorize.net account.
If not already do so, I suggest to set change the time setting to check the “Day Light Savings”. This will help to ensure proper settlement time. If you need follow these directions: 1. Login 2. Look for “Account” on Blue Bar At Top Of Page, click account 3. Scroll to bottom of page under Business Settings, click “Time Zone” 4. There you will see “Use Day Light Savings Time” check the item 5. Press “Submit” Now you are ready to log out. Please contact me should you need further help. Please contact us at [email protected] or call 727-916-7294 www.tampabaymerchantservice.com As disclosed in the merchant agreement and other notifications, merchants must follow the compliance regulations in relation to credit card transaction receipts. The card association rules as well as federal government legislation requires at a minimum that the receipt provided to the customer mask the credit card number so that only the last four to five digits appear on the receipt and completely mask the expiration date. In addition to the above minimum requirements, legislation in some states now requires that the merchant’s copy of the receipt also mask the credit card number and/or expiration date. Please be advised that it is the merchant’s responsibility to investigate which local, state and federal statutes apply to the location(s) in which they conduct business and to find out if any additional truncation laws apply to them. Although meeting these compliance requirements is the responsibility of the merchant, we are here to assist you in any way that we can.
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TBMS BlogTampa Bay Merchant Services Blog. Archives
May 2025
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727-748-4181
Tampa Bay Merchant Services
13830 58th Street North, Suite 410
Clearwater, FL 33760
Tampa Bay Merchant Services
13830 58th Street North, Suite 410
Clearwater, FL 33760
