Processing your transactions
HP Consumer Card Services offers an "always-on" end-to-end solution to your card transaction needs. We process purchases quickly at the point of sale and route the transactions to the correct location. We also apply the correct fees and interest rates to customer bills and collect money from them to make sure all accounts are paid in full.
Credit, debit, and gift cards are now the most common forms of payment. New forms of payments (prepaid cards, mobile payments) are leading to increased transaction volumes. You also have to deal with regulations like CARD Act and PCI compliance. These challenges present numerous customer churn, ever-changing fraud patterns, and new competition from mobile phone companies and online players.
Why worry about maintaining payment card industry (PCI) compliance when that is not your primary business focus? Your company needs to focus on operating as a financial institution. Let us worry about processing the transactions, making sure amounts debited are accurate and card numbers encrypted.
It is vital that transactions are correctly handled at the point of sale. Funds must be verified correctly to allow or prevent a purchase. If transactions aren't routed correctly or processed quickly, the merchant loses out on a sale. Consumer Card Services take out the risks of processing payments while saving your company money.