Payment Security and Compliance firm ControlScan celebrates company milestone as one-millionth merchant begins the PCI SAQ compliance validation process
ATLANTA, Dec. 4, 2013 – Payment security and compliance solution provider ControlScan has surpassed the one-million milestone for merchants initiating its Payment Card Industry (PCI) Self-Assessment Questionnaire (SAQ) process. Each year, small merchants complete the PCI SAQ to assess their security posture and comply with the PCI Data Security Standard (DSS).
ControlScan partners with merchant acquirers, independent sales organizations (ISOs) and other merchant service providers to help the small and mid-sized merchants within their portfolios more effectively secure their payment transactions and comply with the PCI DSS. Known for its high-touch support services, ControlScan expertly guides merchants through each step of the process, including SAQ completion.
“We’ve spent the last six years helping small merchants understand the steps they need to take to protect their business and their customers’ information from data thieves,” said Timothy Thomas, director of product management, ControlScan. “The expertise and connectivity we’ve established has allowed us to continually innovate within the payment security space.”
A recent ControlScan innovation, SmartSAQ, was designed from the ground up to maintain the integrity of the traditional PCI SAQ while removing the complexities that can cause merchant error and abandonment. According to Thomas, the completion rate for SmartSAQ, which has been in use since mid-Summer 2013, is 89.1%.
“Crossing the one-million SAQ mark is an important milestone for ControlScan, because it shows the value we provide to both our partners and the merchants they serve,” said Thomas.
Merchant service providers who are interested in partnering with ControlScan to better secure their merchants and reduce business risk are encouraged to visit ControlScan.com or call 1-800-825-3301.
Headquartered in Atlanta, Georgia, ControlScan delivers payment security and compliance solutions to a global network of merchant service providers and the small businesses they serve. The company’s innovative approach to secure hosted payment and PCI compliance solutions leverages technology, education and services to provide flexible options for its customers. Known for its thought leadership, ControlScan gives its customers a clear view of marketplace issues and trends so they can remain competitive. For more information, please visit www.controlscan.com or call 1-800-825-3301.
ShopKeep POS Same Store Sales Index reveals Seattle small business retailers growing as fast as New York and Los Angeles retailers combined
ShopKeep POS Same Store Sales Index reveals Seattle small business retailers growing as fast as New York and Los Angeles retailers combined August 13, 2013 10:01 AM Eastern Daylight Time NEW YORK–(BUSINESS WIRE)–ShopKeep POS, the leader in iPad point of sale to brick and mortar merchants nationwide, today released the ShopKeep POS Same Store Sales Index (SSSI) for July, which saw nationwide sales jump by 21.5% over July 2012 and the number of transactions increase overall by 15%. “Seattle has always been a trailblazer in terms of innovation and entrepreneurship, so it’s encouraging to see small businesses there doing so well” National sales figures for retail and food services released today by the U.S. Census Bureaurevealed a 5.4% year-over-year increase during the same period. The SSSI revealed Seattle-based merchants with strong sales growth at 41% over 2012, almost equalling that of New York and Los Angeles-based retailers combined, at 15% and 28% respectively. Seattle based transaction volume increased by almost 31%. “We’re continuing to see our merchants achieve impressive growth, helped by understanding and acting on trends within their business,” said Jason Richelson, Founder and CEO of ShopKeep POS. “Seattle has always been a trailblazer in terms of innovation and entrepreneurship, so it’s encouraging to see small businesses there doing so well,” he said. Destiny Sund and Paul Verano, owners of Seattle-based cheesecake chain The Confectional, have grown their business by anticipating and planning for best selling items in different locations. Destiny keeps track of live store sales from anywhere using a ShopKeep POS app on her smartphone. “I can easily see the busiest time of day and best sellers at each of our four stores, and plan our inventory based on that,” said Destiny. “For example, the best seller in the Mall is four packs, but in Pike Place Market it’s singles. We can plan the type of product needed, the size of boxes, the size of bags, and so on, so that we’re always ready to make the most of the rush,” she said. The ShopKeep POS SSSI top vertical markets further revealed: Quick Serve Restaurants increased July sales by 26% and transactions by 17%. Specialty Food Stores increased sales by 18% and transactions by 11%. Speciality Retail Stores increased sales by 18% and transactions by 24%. About the ShopKeep POS Same Store Sales Index The Index measures sales figures and transactions numbers year-over-year based on the ShopKeep POS nationwide customer base of almost 7,000 brick and mortar retailers. Retailers included in the Index have been ShopKeep POS customers for 12 months or more. About ShopKeep POS The simplest way to make smarter business decisions, ShopKeep POS is the affordable, complete platform for running a shop from an iPad with real-time reporting on the web or from your smartphone. Backed by award-winning customer care, the ShopKeep POS iPad App rings sales, accepts card transactions and mobile payments, prints and emails receipts, and can print orders remotely to the kitchen. At only $49/month merchants can manage inventory, employees, and customers and view ClearInsight® Reports from any web browser. Find out more at www.shopkeep.comContinue Reading »
VeriFone Launches a Tablet POS Platform for ISOs It Sees Getting Squeezed by Tech Vendors GlobalBay Merchant: An ISO-Friendly Tablet? Sep. 5, 2013 By John Stewart Independent sales organizations are starting to feel squeezed by technology companies selling tablet-based point-of-sale solutions to merchants, according to terminal kingpin VeriFone Systems Inc. So VeriFone on Wednesday rolled out a tablet-based platform for its resellers that they can price and market to their merchants. The product, called GlobalBay Merchant, is based on mobile in-store technology VeriFone acquired late in 2011 when it bought Global Bay Media Technologies. So far, more than a dozen VeriFone ISOs representing about 500,000 merchants have signed on to sell the platform, VeriFone says. The San Jose, Calif.-based company adds it is in talks with other ISOs, acquirers, and processors serving collectively about 4 million merchants. “We have received positive feedback from every [channel] partner,” Shan Ethridge, vice president and general manager for VeriFone’s channel business, tells Digital Transactions News. One of the largest of the partners that have signed up is EVO Payments International LLC, a Long Island, N.Y.-based ISO that alone accounts for about 300,000 of the merchants represented so far. (On Tuesday, EVO announced it had acquired from IP Commerce Inc. a perpetual license for software that expands its ability to support developers. As part of the deal, what EVO calls the “core” payments personnel at IP Commerce are joining EVO. IP Commerce gave indications earlier this year it was pulling back from payments when it ceased operating its front-end processing service.) The new VeriFone product comes as processors like PayPal Inc. and technology firms like Square Inc. are pushing tablets as replacements for traditional electronic cash registers. It includes the GlobalBay Merchant app along with help-desk support from VeriFone. It links to VeriFone’s PAYware gateway and works with VeriFone card readers, PIN pads, and EMV chip readers. So far, the app is available only in the U.S. and works only with Apple Inc.’s iOS operating system, but the company says it is developing support for “additional geographies and operating systems.” Ethridge will not discuss pricing to ISOs in detail beyond saying it is “flexible,” allowing resellers to levy per-click or flat monthly fees or a traditional discount rate.”We will keep [pricing details] close to the vest ,” Ethridge says, until VeriFone has signed on more resellers. Ethridge says VeriFone began working on the new application about a year ago when it noticed what it says was a tendency among point-of-sale tablet vendors to bring in their own integrated processors, making it difficult if not impossible for ISOs to work with them. “We’ve watched what these disruptors have introduced,” says Ethridge. “A lot [of them] compete with the resellers. We felt we could do something that would suit the reseller channel better.” Rick Oglesby, a senior analyst at Aite Group LLC, a Boston-based consultancy, says VeriFone’s timing may be right. The tablet POS trend, he says, is “a challenge that has gotten big enough that the average acquirer needs to answer it. They need to look to someone who can bring the product.” In at least some cases, Oglesby says, providers will sell the tablet service with an integrated processing relationship. If a merchant wants to stick with an existing processor or go with a new one of its choice, the cost will be higher because of the need for a custom integration. That can lock out ISOs, Oglesby says. Some tablet technology providers, however, insist they have made it a point to accommodate merchants’ choice in processing. “Some [ShopKeep] partners are bundling payment processing and POS, some are providing the technology with a choice of processor, and some are providing the processing solution with a choice of technology,” Todd Lasher, general manager and head of strategic partnerships and alliances at ShopKeep POS, a New York City-based tablet POS vendor, says in an e-mail message. “ShopKeep works with our partners to enable all three paths, so that the merchant ultimately chooses what’s best for his or her business.” Adil Moussa, who follows small-business acquiring as principal of Omaha, Neb.-based Adil Consulting, agrees the new VeriFone platform is “a good solution that merchants actually want and that breaks with the new model of displacing merchants’ relationships through specialized software and hardware.” But he warns that the program’s market advantage for ISOs may be short-lived. “I think the advantage will be to the first movers,” he says in an e-mail message. “As these solutions proliferate, the advantage will disappear because some ISOs will be offering these solutions for free in order to compete for accounts as some ISOs are doing today with POS terminals.”Continue Reading »
LendKey, a cloud-based lending technology company, has raised $12.5 million in Series B funding. Led by Updata Partners and TTV Capital and joined by existing investor Draper Fisher Jurvetson and Gotham Ventures, the round brings LendKey to a total of $22 million in funding. Formerly known as Fynanz, LendKey switched its branding at the beginning of this year to distinguish itself from its previous services. It started as a peer-to-peer lending platform likeProsper and Lending Club, but has since taken its platform to the institutional level. LendKey currently serves 253 lending partners and manages about $400 million in student loans through its service. The startup provides a comprehensive solution for managing lending transactions, from creating and scoring credit applications to pulling funds from lending institutions to issuing electronic invoices. “It’s your brand and it’s your balance sheet,” LendKey founder and CEO Vince Passione says. “It’s our technology and our people, and we take care of the entire end-to-end process.” This approach cuts out any unnecessary staff, since LendKey takes care of most of the processes. Passione says the funding will go to expanding the company’s tech, sales and operational teams as well as a new office in Ohio. The startup’s first product was managing in-school student loans in 2009, and moved into student consolidation loans in 2011. Passione tells me LendKey will be adding a green loan service by the end of the year, to finance loans for high-efficiency home retrofits and solar panels. The expansion of services will help LendKey stand out among other competitors that offer student loan financing solutions, such as First Marblehead. Passione tells me a large advantage is that the service takes care of the entire loan procedure. Another way the company mitigates work for its clients is by offers services instead of finance management software like FiServ and Jack Henry. LendKey charges an origination fee on all loans originated, as well as an annual servicing fee.Continue Reading »
Springbot Closes $3.0M Series A Investment Funding led by TechOperators with TTV Capital to expand innovative eCommerce marketing platform.
eCommerce Marketing Platform eCommerce SMBs want the same data-driven marketing solutions used by large online retailers Atlanta, Georgia (PRWEB) July 24, 2013 Springbot Inc., delivering an eCommerce marketing platform for the small and medium business (SMB) market, today announced the completion of a $3.0 million Series A investment round. Led by Atlanta-based TechOperators, the financing also included TTV Capital and increased participation by existing investors Nonami Investments, and Forté Ventures. The capital will be used to expand Springbot’s sales, customer service and software development teams, increase market awareness and accelerate customer growth. Springbot also announced that Dave Gould, partner at TechOperators, will join Allen Nance, technology entrepreneur, and Brooks Robinson, Springbot CEO, on the board of directors. “eCommerce SMBs want the same data-driven marketing solutions used by large online retailers, but they need it to be a simple, fully integrated solution that makes the most of their limited time and budget while increasing their revenue and marketing ROI,” said Brooks Robinson, Springbot CEO. “Our Software as a Service marketing platform was designed specifically for eCommerce SMBs and integrates marketing analytics with the online marketing channels to recommend marketing actions and track the real-time return on investment.” Founded in 2012, Springbot is a Gold Industry Partner of Magento, an eBay company, and has combined the power of marketing automation and marketing analytics to deliver its Marketing RoboticsTM service. Springbot uses shopping cart data to automatically generate customer and product segments, allows store owners to connect all their key digital marketing channels such as email, social and online ads into one simple dashboard, and then uses the latest big data and predictive analytics technologies to analyze purchases and marketing responses into a marketing action recommendations engine. “SMBs are overwhelmed with marketing choices,” said Dave Gould, partner at TechOperators. “SMBs and specifically online retailers have historically had to piece together various marketing solutions, feel their way through their next marketing action, and had very little visibility into attribution across channels. Springbot addresses this challenge head-on by providing SMBs the same enterprise marketing strategies that big retailers use but delivered in a way that resource strapped online marketers can leverage.” “Springbot is taking advantage of advancements in both the marketing tech and financial tech sectors to deliver a valuable service to its customers. We believe Springbot is an important component of an eCommerce marketing strategy and the company has a wide range of partnership opportunities in the eCommerce ecosystem, from hosting companies to payment processors,” said Mark Johnson, Partner at TTV Capital. “Springbot is thinking beyond marketing automation,” said Allen Nance, technology entrepreneur. “Atlanta has emerged as a marketing technology cluster and Springbot is evidence that this cluster can create a bold idea, assemble a team, water it with seed feeding, and then grow it with venture capital.” About TechOperators An early-stage venture capital firm, TechOperators was founded on the premise that proven operators make the best partners for technology entrepreneurs. Based in Atlanta, Georgia, the firm is led by an expert team of partners with decades of hard-fought operating success and experience founding, building and running world-class venture backed software companies. Extending beyond mentoring, TechOperators applies market-proven strategic and operational experience to drive growth during all stages of company building. TechOperators seeks entrepreneurs with bold innovative software solutions in cloud computing, cyber security, mobile computing, and marketing. For more information visit http://www.techoperators.com. About TTV Capital TTV Capital invests in technology-enabled financial services companies with sustainable business models and innovative products. Ultimately though, it’s the people in which we invest. We seek to partner with passionate entrepreneurs who understand success is about execution and having a motivated team that focuses on building great products and delighting customers. Great businesses are not built overnight. It takes a passionate and dedicated team working hard to build a great company. TTV Capital is in the business of serving and supporting those teams. And we are passionate about helping them, we enjoy doing it and are completely committed to providing the resources, relationships and expertise they need to succeed. For more information visit http://www.ttvcapital.com. ; About Springbot Springbot delivers an eCommerce marketing platform to small and medium businesses (SMBs). Founded in 2012, Springbot is a Gold Industry Partner of Magento, an eBay company, and has combined the power of marketing automation and marketing analytics to deliver its Marketing RoboticsTM service. Our SaaS offering integrates and makes simple the data, content and multi-channel marketing tools (social, online, email, etc.) eCommerce SMBs need to drive more traffic, conversions and overall revenue. Springbot helps eCommerce SMBs grow their revenue by taking smarter, data-driven marketing actions. For more information visit http://www.springbot.com.Continue Reading »