We are upgrading our servicing systems to provide a uniform user experience for our merchants. The upgrades will give you more robust reporting capabilities through access to iQ our proprietary reporting tool.
Enhanced reporting capabilities
- In early February, you will receive an email invitation to register for access to iQ, our robust proprietary reporting tool.
- You will have 8 days from the date of the email to register for access.
- As the account owner, you are the only person who will automatically be set up with access to iQ. You will have administrative permissions and you will be required to set up access for additional users.
- Due to the system upgrade activities, daily transaction reports and statements will not be available February 3 & 4, 2018. Starting February 5, 2018 you will need to access iQ to retrieve your daily transaction reports and statements.
- Beginning with your February 2018 statement in early March, iQ will be the only way that you can retrieve your current and 12 months’ of historical statements.
This online solution will empower you to:
- Manage and grow your business one transaction at a time
- Have fast access to reports that provide you with greater visibility into your business
- Get snapshots of payment activity, adaptable transaction reports and high-level metrics with a simple, user-friendly interface
- Conveniently and securely view all your customers’ transaction data filtered by card types, chargebacks and more
- Access Express Virtual Terminal, right from the home page
- Retrieve processing credentials
One monthly statement
You will now be receiving only one monthly statement instead of two that will contain your transaction processing and any value added services product fees.. Your new statement will be accessible in iQ starting with your February statement (which will be issued in early March).
Please note a few specific changes that you will see:
- Authorization fees will be identified as inquiries for each of the card brands on your new statements.
- Mastercard voice authorization fees will be identified as "Card Inquiries"
- Your authorization and assessment fees will be included in the "Other Fees" section of your new statement.
*Please note that as part of this change, any applicable minimum billing fee will be calculated based on the amount of your discount and per item processing fees, exclusive of any miscellaneous billing. Return transactions will be charged at your normal Worldpay processing fee rates.
iQ Training Resources:
- Click here to view our introduction to iQ training video series
- If Vantiv is not your processor, click here to view a customized iQ training
- For quick reference, you can also download the iQ Help Guide
Our commitment to our merchants
We will continue to provide merchant services in the same manner as we always have. The Worldpay team is committed to making these system upgrades as transparent and seamless as possible.
- All critical business functionality will remain intact.
- Merchant reporting will still be available through www.coremanagementsystem.com until February, 2018.
- Support will still be provided by Worldpay’s dedicated Customer Care representatives at 866-435-3636.
- Merchant agreements, terms and conditions will not change.
- Point-of-sale applications and terminals (if applicable) will not be impacted.
- Voice authorization phone numbers will remain the same.
As communicated, you have already been part of a Penny test. This is where we send a $0.01 credit to your bank, then at a later date debit the $0.01. We performed this test to ensure there is no interruption to funding once the company IDs are officially updated. If you are unable to accept the test transactions, you will need to have the new company ID’s 4300604847, 5300604847, 6300604847, 7300604847 approved for transactions on your bank account. Click here to download the ACH Activity Authorization form.
As we move closer to the upgrade, additional information will be provided on the next steps. If you have immediate questions about the upcoming changes, please send your questions to our Customer Care team at ICS@vantiv.com.