NELiX TransaX LLC, based in Schaumburg IL, releases TransaX QB 6.7.11.0

Committed to continually enhancing their technology, NELiX TransaX releases TransaX QB version 6.7.11.0. This version enhances the batch process by offering additional options to filter invoices to be processed.   TransaX QB makes it easier and easier for merchants to process credit card and ACH payments through QuickBooks.

"We are continually listening to the feedback from our customers," explains Matt Schwartz, President of NELiX TransaX, " and using that feedback to improve our products."

Many exciting new features are in the works for subsequent releases, so keep your eye out for more announcements!

Information on the NELiX TransaX QuickBooks module can be found at http://www.quickbookscreditcards.com

Information about NELiX TransaX can be found at http://www.nelixtransax.com

FileMaker DevCon 2012

We just finalized our travel plans for this year's FileMaker DevCon.  This year in Miami FL, July 16 - 19th.   NELiX TransaX will be there showcasing our FileMaker plug-in for easily enabling any FileMaker database with payment processing capabilities.   Our plug-in is free, and we expect to have a great response, as we have had in previous years.

If you will be there, stop by our booth!

More about FileMaker DevCon 2012
More about Credit Card and ACH processing in FileMaker

AMC Institute 2012

I'm heading out to sunny Palm Springs tomorrow morning for the 2012 AMC Institute Winter Meeting and I couldn't be happier!   AMC Institute meetings are always great - great people, great food, great content - I always learn a ton - and great opportunities!

Maybe I'll see you there!

AMC Institute

Certified Payment Professional

Every industry has it's certifications and accreditations.  A body governing an industry, usually an association, puts together a set of standards that they feel all active members of that industry should adhere to.  These standards are usually discussed in great detail amongst many industry participants who have been active, and are leaders in their field.

Members of the industry are then tested and reviewed, and if they pass - they are given a stamp of approval from the governing body.   This seal tells the world that this individual has knowledge and understanding of the industry they are working in, and can prove it.

Recently, ETA developed the CPP program - the Certified Payments Professional.   I'm proud to say that I was in the very first test group, and I passed!   It is a great honor to be considered by ETA to be knowledgable in my field.  

More on ETA
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Matthew J. Schwartz is now a Certified Payment Professional

The Electronic Transactions Association (ETA) is pleased to announce that Matthew J. Schwartz has been granted the designation of Certified Payments Professional™ (CCP). By successfully meeting the rigorous certification examination requirements, he has joined an exclusive community of electronic transactions professionals who have earned this distinguished certification. In doing so, Mr. Schwartz brings the highest level of expertise and distinction in electronic transactions to NELiX TransaX, LLC.  Recognizing the unique skills and special knowledge required of electronic transactions professionals, ETA launched the certification program in 2011.

In addition to meeting the program's education and experience requirements, those awarded the CPP™ designation must complete a minimum of 36 hours of industry-related continuing professional education every three years.

 

More and more employers, faced with critical staffing decisions, consider the CPP™ credential an added value to current and prospective employees. Further, a competent CPP-certified staff is crucial to maintaining a competitive advantage in the field. 

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About ETA

The Electronic Transactions Association is an international trade association representing more than 500 companies who offer electronic transaction processing products and services. ETA’s mission is to advance the payments industry profession by providing leadership through education, advocacy and the exchange of information.

TransaX QB Version 6.7.7.0 Released!

The latest version of TransaX QB includes not only numerous usability enhancements, but also comes with new branding! Previously the NELiX TransaX QuickBooks Module, now called TransaX QB! The branding shift coincides with a branding strategy overhaul across the NELiX TransaX Technology suite.

This includes:

• TransaX QB - previously the NELiX TransaX QuickBooks Module"
• TransaX FleXport - our powerful developers toolkit for integrating points of payment into any application!
• TransaX Mobile - our mobile offering (available on Android. On iPhone the old iTransaX brand remains currently.)
• TransaX Billpay - our Electronic Bill Payment and Presentment solution

With the latest release of TransaX QB, NELiX TransaX has made numerous improvements to the TransaX SynX process, the Batch process, and the handling of A/R accounts and Asset Accounts throughout the system.

Information on the NELiX TransaX QuickBooks module can be found at http://www.quickbookscreditcards.com
Information about NELiX TransaX can be found at http://www.nelixtransax.com
Information on NELiX TransaX FleXPort can be found at http://www.transaxdevelopers.com/flexport

Merchant Accounts 101

We had the opportunity to speak at the Accounting C4 2011 conference in Boston this year.  Take a look at the session now live on YouTube!

Part 1: http://www.youtube.com/watch?v=ftDUru8gvrI

Part 2: http://www.youtube.com/watch?v=AZ1m2NUESKk

How I met Ben Stein at Accounting C4 in Boston!!

I just got back from the Accounting C4 (Cloud Computing Collaborative Community) conference in Boston. It was a great show! It was my first time in Boston, and I particularly enjoyed the boat cruise around the bay - what amazing architecture that Boston has!

We made many great new contacts at the show, but the most interesting person that I met was Ben Stein! He was there to give the keynote speech, and I had the pleasure of riding the elevator down with him the morning of his keynote.

He noticed that I was also a speaker (as my badge was tagged), and said "You're a speaker too!". I responded, "yeah, but not nearly as entertaining as you!". He asked what I was speaking about, and when I replied "Merchant Accounts", his response was, "I just make people laugh and think, you talk about the important stuff - money!"

His keynote is great! It made you laugh and think. Very entertaining, informative and intelligent.

And as for my session, we'll soon you can see for yourself. We took a video, and will be posting on YouTube soon. Watch this space!

In the meantime, you can learn more about our QuickBooks Credit Card and ACH Processing Plug-in.

Right Networks and Accounting C4

We're excited to be heading out to the C4 Accounting Cloud Computing Collaborative Community conference in Boston this weekend!

Right Networks is Intuit's Exclusive Provider of the QuickBooks Enterprise Solutions Hosting Service. And NELiX TransaX is Right Network's exclusive partner for providing payment processing services.

With our powerful QuickBooks plug in (TransaX QB), allowing merchants to process credit card transactions, run ACH / e-check transactions, run many transactions in a batch, pay vendors via ACH and much more, partnering with Right Networks was a perfect fit.

TransaX QB is already installed on the Right Networks cloud, so their client base has access to it instantly.

At the show this weekend, we'll be holding a session discussion how credit card transactions work - how the communication takes place, how the money flows and more. If you're in Boston, and interested in QuickBooks Cloud Computing, check out the show and attend our session!

More on Right Networks
More on C4 Accounting Cloud Computing Collaborative Community

More on TransaX QB

More on NELiX TransaX

The Durbin Amendment

The recent Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 had largely no affect on the merchant account side of the banking business. That is, until the Derbin Amendment was attached and pushed through.

I recently had the opportunity to see Senator Christopher Dodd speak at ETA, and he explained how the amendment was pushed through at the last minute - nobody really paid attention to it, and it just got passed along with everything else.

The Durbin Amendment has some major ramifications to the payment processing industry. Speicifically:

1. A cap of 7 to 12 cents on most debit card swipe fees, a decline of about 80% from present levels



2. The introduction of competition, by giving merchants a choice as to which debit network they process transactions over. For example, present arrangements effectively force merchants to process many Visa transactions over the STAR network, even if competitors like PULSE and NYCE offer to conduct the same transaction at a lower processing price.



3. Merchants can impose a $10 minimum on credit card transactions (this number can be adjusted by the Fed as they see fit). Previously, Visa and MasterCard banned this practice in their merchant agreements.



4. Merchants are allowed to give discounts at the register to those who pay with cash or debit cards. Previously, Visa and MasterCard banned this practice in their merchant agreements.
   

Of course, anybody who makes their money from selling merchant accounts is unhappy about this. The amendment is under review, according to Senator Dodd, so we may see changes in the future, but that will most likely take some time.

A great article about this amendment can be found here (and some of the information in this blog was taken from this article): http://www.nerdwallet.com/blog/2011/durbin-amendment-explained/