Have you ever had questions about your credit card processing ins and outs? Here at Paladin we receive quite a few inquiries about our system and how we handle payments. Just to clear things up, we compiled a list of frequently asked questions to (hopefully) make everything a bit more clear for you.

Here are a few Q’s and A’s related to Paladin’s credit card processing. If you have questions about any of it, feel free to leave a comment!

Paladin’s Credit Card Processing FAQ

Does the Paladin Point of Sale Solution offer integrated credit card processing?

Yes. Paladin Point of Sale comes standard with integrated credit card processing.

Which credit card processors are supported by Paladin?

Paladin has partnered with Mercury to deliver all-in-one payment processing. The Paladin and Mercury package provides built-in payment processing, free U.S. based 24/7 support, free gift card processing, back up processing protection, competitive rates and more.  If you are interested in another provider via a software gateway module, and do not require IIAS certification, please contact a sales representative to discuss your options.

 What is IIAS certification and why is it important?

The Inventory Information Approval System, or IIAS, is a point-of-sale technology used by retailers that accept FSA debit cards associated with medical flexible spending accounts (FSAs), health reimbursement accounts (HRAs), and some health savings accounts (HSAs) in the United States. Independent pharmacy retailers are required to become SIGIS members (The Special Interest Group for IIAS Standards) in order to acquire IIAS certification. SIGIS is the organization that manages the IIAS certification process for the government. In addition, Paladin must be registered with SIGIS as an IIAS certified and approved point of sale provider. Mercury is an integral component of the SIGIS certification process as well.

Why does Paladin only support one processor for processing FSA cards?

Most POS vendors support only one IIAS certified credit card processor due to the stringent development requirements and significant monetary investment. IIAS certification is a time consuming and expensive process which involves cooperation and software development efforts from three different parties, the POS vendor, the payment processor and the payment platform.  In this case the three companies involved were, Paladin, Mercury and Global.

Why did Paladin choose Mercury as the credit card processor of choice?

Paladin partners with Mercury because of their proven excellence in service, extremely competitive rates, and attentiveness to the needs of our customers—not to mention their reliability and up-time. Mercury is the first processor in the industry to offer PCI Breach Insurance, in addition to offering affordable gift cards with free processing and a social-based customer loyalty program. Mercury is truly a fully-featured payment processor and they provide best-in-class services.

Is Paladin PCI-DSS compliant?

Yes. This is another reason that Paladin chose Mercury. Mercury provides Paladin a means to maintain full PCI-DSS compliance. This PCI compliant method helps protect us and our customers from the risks of a credit card breach. It also provides Paladin with the freedom to apply software updates to the Paladin Point of Sale system without having to re-certify with every version of the software. This saves our clients from unnecessary development costs over time. This particular feature is often overlooked by other POS vendors that may have received initial PCI certification for a single software version, which significantly increases their risk of PCI violations and potentially adds costs that may be passed on to their customers.

What is PCI-DSS anyway?

The Payment Card Industry Data Security Standard (PCI DSS) is a set of requirements designed to ensure that ALL companies that process, store or transmit credit card information maintain a secure environment. Penalties for non-compliance can be catastrophic to a small business. Go to www.pcicomplianceguide.org for more information.

Doesn’t limiting our choice to one IIAS certified payment processor greatly diminish our leverage in negotiating rates?

Actually, it’s quite the contrary. Having a single credit card processing partner for the Paladin Point of Sale Pharmacy Solution enables Mercury to offer extremely competitive rates through volume discounting. The pricing that Mercury offers is specifically tailored for Paladin customers, and it can be customized to meet each customer’s needs. Paladin reduces the stress of having to interact with multiple payment processors in order to acquire the best rate. We get you not only the most competitive rates but we make sure that your POS system is secure and your customers’ credit card information is fully protected. In addition, you have the option to participate in all of the other services and programs that both Paladin and Mercury offer.

I am used to negotiating rates with several payment processors; does choosing Mercury impede my leverage of negotiating rates?

Not in the least. Paladin’s customers participate in extremely competitive rates through our relationship and volume discounting with Mercury. The pricing that Mercury offers is specifically tailored for Paladin customers, and it can be customized to meet each customer’s needs. Paladin reduces the stress of having to interact with multiple payment processors in order to acquire the best rate. We get you not only the most competitive rates but we make sure that your POS system is secure and your customers’ credit card information is fully protected. In addition, you have the option to participate in all of the other services and programs that both Paladin and Mercury offer.

Let Us Know

Here at Paladin we enjoy helping our clients serve their customers more efficiently. That means: we want you to succeed. If you have any questions about Mercury Payment Systems or Paladin Point of Sale, let us know in the comments below! We’d love to answer your questions (even if they’re difficult).