We get it, there’s a lot of information that is thrown at you from all directions in the payments industry, and it’s sometimes hard to sift through and absorb it all. That’s why we created Charged, the weekly news aggregator that highlights everything you need to know to remain successful in the marketplace with your card acceptance service.
While we’ll always email you about big picture items (think: product releases, processor connections, operational updates, etc.), we’ll communicate the rest of our updates right here, via Charged.
So grab a cup of coffee and let’s dive in – we’ll meet you back here next week for the latest news you need to know.
Changes to Default Batch Closure Times 🔐
Effective January 31, 2022
To better serve our clients, and to ensure daily funding is on time, we are adjusting our default batch closure times. As of January 31, 2022, the default batch closure times will be adjusted as follows:
First Data North:
Current Default Batch Time: 9:40pm EST
New Default Batch Time: 8:40pm EST
Why This Change?
Due to multiple nationwide banking funding systems, growing U.S. processing activity, coupled with new regulations, networks are adjusting the batch settlement schedule. This change will prevent disruptions in next-day funding.
What Do I Need To Do?
If you are using the CardPointe virtual terminal or Gateway automatic batch management, no change is required. If you are using Ingenico Desk 3500 terminals, we will be issuing a remote firmware update and no further action will be needed. Ingenico ICT220 / 250 terminals will require a manual firmware update and we will be contacting you do discuss the process.
Keeping you informed: We’ll be notifying impacted clients of this change via email as well as a phone call, however, if you would like to discuss this prior to us reaching out, please contact us directly at 855-377-7283.
EPS Custom 👨💻
From custom Text to Pay & QR code solutions, to custom business software development, integrations and even website design with SEO marketing, EPS’s complete suite of Enterprise technology services provides corporations the proper tools necessary to run an efficient and profitable corporation.
Not an EPS Client?
We understand the thought of moving processing services is a daunting task, but, if you’re not receiving optimized interchange rates and fees, paying padded and erroneous processing charges, or aren’t up to date with PCI Compliance, the IRS 6050w or a handful of other items necessary to secure your business, all of which are impacting your bottom line, isn’t it time to seek some new advice?
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