ElitePay Global of Henderson, Nevada, provides a wide variety of payment solutions for businesses. To serve the needs of its customers, ElitePay Global sells a variety of point-of-sale equipment from brands like First Data, Verifone, Ingenico, and Clover. These payment-processing terminals are capable of accepting payment through standard card-swiping methods as well as contactless payment and other advanced methods.
Contactless payment is a relatively new payment option that is now available at many major retailers and businesses in the United States. Rather than swiping a card, customers who use contactless payment only need to hold their cards near a sensor on a point-of-sale device. In addition to contactless card payments, some point-of-sale terminals are also capable of receiving payments directly from mobile phones via Near-Field Communication (NFC).
Using contactless and NFC payments allows customers to complete their transactions more quickly, which is convenient for them and also beneficial to businesses. Major credit card companies, including Visa, MasterCard, American Express, and Discover, have all issued contactless cards to their customers.
Located in Henderson, Nevada, ElitePay Global began offering merchant payment-processing services more than 25 years ago. In continuing its role as a quality provider of check- and card-payment services, ElitePay Global enables merchants to process many forms of consumer-to-merchant payments. In recent years, the company has recognized the significance of enabling its affiliated merchants to accept Electronic Benefits Transfer (EBT) cards for cash and food transactions.
Q: What is EBT?
A: EBT is the electronic payment transfer system utilized by both federal and state governments to deliver cash- and food-assistance payments to qualified recipients of Social Security benefits as well as programs like the Supplemental Nutrition Assistance Program (SNAP), the Special Supplemental Nutrition Program for Women, Infants and Children (WIC), and Temporary Assistance to Needy Families (TANF).
Q: Why is a merchant’s ability to process EBT card payments of significant benefit to both consumers and merchants?
A: From November 2013 through September 2014, it is estimated that nearly 50 million Americans will receive SNAP or cash-assistance payments via EBT. These transactions will conservatively amount to tens if not hundreds of millions of dollars. It is estimated that Social Security recipients will be paid upwards of $65 billion in the current fiscal year. Many of these recipients elect to receive their benefits via EBT cards. By accepting EBT cards for payment processing, both merchants and consumers benefit from greater convenience and lower transaction costs.