October Newsletter 2011



Current Events

What is the Durbin Amendment?

It's a proposal from Illinois Senator Dick Durbin that was part of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The provisions of the Durbin Amendment become law on Oct. 1, 2011. The new law will reduce, by nearly 50%, the average amount that retailers pay for debit card transactions (often called interchange fees or swipe fees).

Retail businesses have been paying banks an average of 44 cents every time a debit card transaction goes through. Effective Oct. 1, the Federal Reserve will limit the transaction fee to no more than 21 cents, plus 0.05% of the transaction (2 cents average), plus 1 cent for issuers that have fraud-prevention standards in place. This hasn't affected credit cards; banks have been getting, and will continue to get, almost 2% of each transaction price.

Why anyone besides Senator Durbin should care

Well, since the new law cuts debit card fees in half, banks are going to be earning considerably less from debit card transactions. To make up the shortfall, they appear to be following two main strategies:

1) Lob fees onto the consumer to make up for the shrinking of debit card revenue

2) Offer more rewards and perks on credit cards to make them more attractive and to increase credit card revenue

Banks are now likely to find credit cards much more profitable under the new law, due to that aforementioned 2% of the purchase price per transaction. For purchases over $10.50, on average, the credit card issuer will make more in fees if you use a credit card instead of a debit card.

Tips in our Area of Expertise

  • Do not place your computer in direct sunlight as this can cause excessive heat which is not good for any computer.

  • It is highly recommended that you purchase a UPS.  This will give you time during a power outage to properly shutdown your system in order to prevent data corruption.

  • Backup any data you cannot afford to lose to a external storage device such as a USB hard drive or Thumb Drive or ask about our back-up server link.

  • A clean computer is a happy computer! Occasionally disconnect your computer from it's power source, remove the side panel, and use a can of compressed air to blow out all the dust. Dust build up in the fans and power supply can greatly reduce the life expectancy of your system.


New Enhancements for September


DataManager

  • Inventory receipts are now more robust but there are several more enhancements coming soon such as Calculated GP %, enhanced input validation, and colored text to indicate above/below GP.
  • Changing the Cost on a fuel item now maintains the existing Cash price without the need to explicitly input the Cash price.
  • Statements now only include Invoiced transactions and will filter out all UN-Invoiced transactions from the Current Balance.
  • Deleting Inventory items from within DataManager will also remove all UPC Code data for the products.
  • More enhancements and stability improvements are in the works!
  • Enhancements to the security of proprietary cards and system.
  • Windows 7 functionality.

 
Register

  • Enhanced the way discounts are calculated
  • Using the ‘Cash to Pump’ feature to apply change to pre-pay a dispenser will no longer throw off daily reports.
  • Enhanced the Pump Toolbar to be more robust when used simultaneously across multiple registers.
  • Added the ability to apply Cash pricing to the Check tender type.
  • Additional miscellaneous performance enhancements.
  • Several enhancements for the Pump Toolbar and the Register are currently in the works!

 
Reports

  • Loyalty reports eee0068 and eee0069 now show Sales Tax.
We are located in beautiful Post Falls Idaho between Spokane WA and Coeur D' Alene ID.

Upcoming Events

November 24th
Office Closed in observance of Thanksgiving



Little-Known Uses for our Products

*Fixed Pricing*
Special pricing for proprietary card customer now has the ability for a fixed price.   In table maintaince under pricing levels, you can choose the advanced pricing and enter the fixed amount.

*Finance Charge Date*
Ability to change the finance charge date.  Now when generating finance charges, it will allow you to enter the date in which you would like them to be generated on.

New Products and Service

We are now offering a free online training service.  Once a month we will be publishing the dates and topics of two WebEx trainings.  You can sign up for these trainings up to 1 day prior.

  • October 25Th at 8:00AM PST – Connecting Sync, This training will teach the basics of restarting synchronization.  Sign Up
  • November 8th at 8:00AM PST – Accessing your SIte Remotely, This training will go through the steps of accessing your site remotely. Sign Up


Deals, Specials, Coupons, and Discounts
25% off all Proprietary Card Printing orders Exp. 11/1/11


News

August 17th, 2011

Verifone Systems, Inc. certified Triple E Technologies’ CP720 for proprietary fleet on their POS platform.  More Info


We can develop any customer reports.  More Info


We would love to hear from you.  Send us your comments and feed back.  Comments