The Modern Resolution for Small Business Owners

In Uncategorized on December 30, 2011 at 10:59 am

Every January 1st, millions of people set their sights on new resolutions motivating them to take charge of their health, academics, wealth, and more.  By January 31st, only about 64 percent of those resolutions are maintained.  In the first few weeks, many resolution-setters realize that their goals were simply unattainable.  They give up.  After trying hard for days, even weeks, there just isn’t enough measurable change to encourage continuing down this life-altering path.

What if we told you that we could get you one step closer to achieving your New Year’s goals, at least those revolving around financial woes?  As it gets harder and harder for small businesses to obtain growth and success, it becomes more and more important for business owners to be able to account for every expenditure.  A commonly over-looked expense is that of accepting credit cards.  As many business owners can attest, every time you swipe a credit card, you receive the payment total, less a percentage of the sale.  At TransNational, we believe that by providing you with in-depth information about credit card processing, you will be better equipped to take charge of your money and make the best return on your credit card processing.

Make a New Year’s Resolution that can Help Your Small Business Grow!

The National Association for Business Economics (NABE,) predicts little growth (2.4 percent) in the first half of 2012.  Although consumer spending is expected to increase 2.1 percent, small businesses need to hunker down for another rough year.  In an effort to ease the economic impact, close management of your business’ resources will become essential.

Although TransNational cannot give you all the answers, we can share some insight that can help you manage your processing solutions in favor of your business.

Fighting Fraud*

For card present merchants, it is important to ensure the legitimacy of the card, cardholder and transaction.  Under VISA U.S.A. Inc. Operating Regulations, either the merchant or their sales associates must check the card security features (such as AVS, CVV2/CVC2, etc.,) request an authorization, and obtain the cardholder’s signature.

For card not present (CNP) merchants, it is important to ensure legitimacy of the card with an expiration date as well as the AVS, CVV2 or CVC2.

Dispute Resolution/Managing Your Chargebacks*

In order to prevent unnecessary fees from being assessed to your processing bill, it is important to understand chargebacks.  A chargeback is simply the return of funds to a consumer.  They usually occur because of customer disputes, fraud, processing errors, authorization issues, and non-fulfillment of copy requests.  However, many types of chargebacks are caused by an easily avoidable mistake.  This means that it is essential for you to understand these mistakes, so you can avoid them in the future.

Getting What’s Yours from the Durbin Amendment
On October 1, 2011, the Fed implemented the Durbin Amendment (part of the Dodd-Frank Wall Street Reform Act) as a way to combat perceived price gouging on debit card interchange fees and save merchants a percentage of what they currently pay to banks.

Under the Durbin Amendment, the cap on fees assessed on debit card transaction has been cut to approximately 22 cents, but many merchants may not be seeing a price cut on processing.  Some merchant processing companies have discovered the loophole in the new amendment and may not be passing these savings on to the merchants.

Business owners who are currently unsure whether their merchant card processor is working in their best interest are encouraged to call TransNational at (847) 655-1300 to set up a free consultation and comprehensive analysis of their current fees.
Make 2012 the Year You Take Charge of Your Processing Costs!
With a New Year’s resolution centered upon helping your company grow, it is important to find reputable resources that can genuinely share your vision.  At TransNational, we wish we could be the company with all the answers and all the tools to help your business succeed, but the truth of the matter is no company can truly accomplish everything.  We focus on one area of your business.  And we focus on doing it well.  We strive to make you happy with your credit card processing, excited about your gift and loyalty programs, and pleased to know our services are competitively priced, all while giving you the peace of mind that you are building a relationship with a partner that does everything in its power to help your business grow.

To get a jump-start on your New Year’s resolution, set up a no-obligation, free consultation with a TransNational rep today.  Just call (847) 655-1300 or go online to

Partner with a locally owned company that is just as excited about your business growth as you are.

*For further reading, refer to


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