Summit offers data capture services utilizing hardware, software, or
E-Commerce solutions for Visa and MasterCard transactions through our
relationships with federally insured financial institutions. In
addition, merchants may choose from a range of other services including
data capture of American Express, Discover, Electronic Benefits Transfer
and much more.
PIN-based debit cards are rapidly becoming the preferred
method of payment around for consumers. Merchant benefits include:
faster checkouts, increased sales, lowering fees, shorter float time and
Smart Cards are a new type of
credit card rapidly gaining momentum. Utilized in Europe for several
years, smart cards have an embedded silicon wafer that has more than one
hundred times the memory of conventional magnetic stripe. This new
format offers exciting applications in the areas of shopping
convenience, Electro-Commerce and fraud prevention. Approximately, 90%
of all current U.S. systems are not smart chip compatible.
Electronic Check Conversion
Check conversion is the newest
trend in our industry. Checks may now be processed electronically,
similar to credit cards, making things more efficient for business
owners. Merchants now have the ability to run a paper check through an
electronic scanner, electronically deposit the check into their bank
account, and eliminate the time-consuming process of daily trips to the
Electronic Gift Cards
The Summit electronic gift card program replaces
traditional paper gift certificates with rechargeable gift cards.
Studies show that approximately 30-40% of revenue generated from gift
certificate sales is lost because of the cash back feature. The
electronic gift card program, through eliminating cash back, can save
thousands of merchants dollars each year.