Wind River Portfolio Trend First Quarter 2014
April 22, 2014 - 10:15:54
We thought it might be of interest to you for us to share some trending information for the first quarter based on our overall Wind River Portfolio. This represents thousands of customers we serve, diversified across many industries and types of businesses located primarily throughout the Midwest, but also scattered across the country accounting for over $1.4 Billion in credit card volume.
· For the entire quarter (Jan-March) the overall Wind River portfolio volume growth was 2% above last year’s Q1.
· 60% of our clients had positive volume growth year-over-year in Q1 outweighing the number of clients who did not see growth.
Hopefully, you were part of the 60%, but know you weren’t alone if you didn’t find your credit card volume sales growing, particularly in the month of March. Be mindful of the possible outside drivers in this data such as a later Easter Holiday this year (April 20) vs. last year (March 31) as well as the longer winter weather which could have a major impact on some industries.
Perhaps you are wondering why this might not quite sync with the initial government figures that are reported in the media about the economy at the end of the Q1. You may have noticed this in your business and wondered too. However we have found once the revisions are all worked out by the government, they eventually come pretty close to replicating our trend!
We realize that credit card sales are only part of the overall picture of your total sales each month. We look forward to rolling out a new online reporting package in Q3 that will provide more personalized and specific insight to you.
Wind River is committed to bringing our clients more information to allow you to manage your credit card expense line. Let us know if we hit the mark. You can contact me directly at email@example.com or call our friendly relationship managers at 1-800-704-7253, Option #4.
April 2014 Interchange and Network Fee Notification for Payment Processing
April 14, 2014 - 13:31:30
There are a number of new and enhanced fee structures effective April 1, 2014 being implemented by VISA, MasterCard, Discover Card, and other network providers. Wind River Financial believes in transparency of all association fees applicable to your merchant processing costs, so we will be passing through these new fees with no mark-ups or changes. There are hundreds of fee structures and not all are applicable to all card types or to all merchants, so detailed below are the few that will affect most merchants’ day to day transaction processing costs. For a full listing of these new fees please go to our web site in our Client Links and Resource Library and look for the title April 2014 Interchange Modifications.
VISA Interchange Fees and New Programs –
Visa will introduce new interchange programs for new consumer products as well as modify assessments on the Acquirer International Services Assessment. Click here
MasterCard Interchange Fees
– MasterCard is introducing a new Commercial Accounts Payment product. MasterCard is also creating some new large ticket programs as well as making changes to some existing programs. Click here
Discover Card Rate Changes for Existing Prepaid Interchange Programs
– Discover will be making some interchange rate changes to some pre-paid programs. Click here
Pulse Merchant Participation Fee – The Pulse Debit Network will charge a $9.00 annual participation fee to merchants processing a pin debit transaction on the Pulse network.
Madison Magazine's 2014 Best Places to Work!
April 08, 2014 - 14:11:49
Wind River is very excited to be named one of Madison Magazine’s 2014 Best Places to Work! The winning companies were announced in Madison Magazine’s April 2014 issue, and Wind River was recognized in the 11-99 employee category.
There are lots of reasons why Wind River is a great place to work, but the biggest might be our commitment to doing great work and having good time doing it. We have a fun and supportive work environment, and it’s great to be a part of such a caring and enthusiastic team of people. This is a big honor for all of us!
Click here to see the full article on Madison Magazine’s 2014 Best Places to Work.
Cardholder Fraud Liability Potentially Increases with Wisconsin Act 136
April 03, 2014 - 10:20:21
As a result of the March 11th, 2014 enactment of Wisconsin Act 136, Wisconsin residents posessing payment cards may have more liability for fraud depending on reporting timeframe.
Act 136 changed Wisconsin's previous law which was more protective toward consumers and brought fraud liability limits more inline with the applicable federal law known as "Reg E."
Whereas the previous Wisconsin law generally limited cardholder fraud liability to $50, the new law may increase liabililty to a limit of $500 depending on how quickly the cardholder reports the event to the card issuing financial institution after the cardholder becomes aware of the unauthorized use or lost/stolen/missing payment card.
This Act may have implications for Wisconsin financial institutions possibly related to changes in terms and customer notifications.
More information can be found here and a copy of Act 136 can be found here.
Verifone Tranz 330, Tranz 380, and Tranz 460 No Longer Supported
April 01, 2014 - 17:08:02
Verifone Tranz 330, Tranz 380, and Tranz 460 No Longer Supported
Manufacturer VeriFone, has announced that they will no longer support the Tranz 330, Tranz 380, and Tranz 460 point of sale terminals effective September 3, 2014. If you’re currently using one of these terminals Wind River Financial will be unable to provide assistance for new updates, downloads or troubleshooting effective September 3, 2014.
Please take this opportunity to contact your Relationship Manager at (800) 704-7253 to discuss a new payment processing solution that best fits your business needs and budget. Contacting us now ensures a timely implementation of your new EMV ready terminal, mobile solution or virtual terminal before the deadline. We have several options available and can provide all the details you need to make an informed decision.
Delaying action could potentially result in an interruption to your payment processing capabilities if a technical issue should occur when using these terminals after the September 3, 2014 deadline. Call your Relationship Manager today!
If these look familiar...you will want to call us!