MyTime Pay allows our business owners to take card payments right inside the MyTime software. Below are a few great features and advantages of MyTime Pay.
MyTime has low and transparent processing rates that aim to save all our business owners money. In a lot of cases, businesses that switch to MyTime Pay save so much money, it pays for their MyTime subscription! Additionally, we can create custom pricing for businesses with a monthly processing volume of over $20,000 per month. MyTime guarantees that we will match or beat your current rate!
When you enable online payments for online bookings, all your customer needs to do is show up for their service, and everything from scheduling to payments is taken care of behind the scenes.
MyTime will automatically place a hold on the customer's card a few days before the appointment, then when the appointment is over they will receive a text message and are able to leave a tip. After that, the payment will automatically finalize and funds will be deposited into your bank. If the customer's card does not go through, we will send you an email letting you know you need to collect payment. Additionally, you can see on the schedule view that payment was not received.
Online payments are also a painless way to get your customer's card saved on file. They are automatically opted in to allow your business to store your card which will allow for fast, hands-free checkouts in the future.
You are able to require a card to be added to schedule a booking online, in person, or both via your business settings. When a card is required for either of these booking types MyTime Pay allows you to enforce cancellation fees if a customer fails to cancel within a predesignated window.
As a business owner, there is no need for us to explain how important this feature is as it relates to your staff compensation and business revenue.
MyTime allows you to require a prepaid deposit at the time of service booking! You can charge a $ or % deposit fee for specific services or for all services. For example, if you sell a haircut for $100, you can collect a $50 non-refundable deposit at the time of booking.
In terms of hardware choices, there has never been a better time to switch to MyTime Pay. MyTime released its latest generation of EMV (chip) & NFC (Apple Pay & Google Pay) hardware.
Not only does this new hardware bring you up to speed with the latest ways to accept payments, but It also allows you to provide a fast seamless checkout experience for your customers.
Signature Capture for payments and waivers
MyTime Pay goes beyond integrated payments by offering a range of valuable features. By leveraging MyTime Pay in conjunction with any of the touchscreen card readers mentioned earlier (5000, 7000, or 8000), you gain the capability to effortlessly capture customer signatures and securely store them electronically within the MyTime platform. This powerful integration empowers you to capture signatures for both high-risk card transactions and client liability waivers. Additionally, customers are provided with the convenience of reading, accepting, and signing the waiver directly on the card reader, streamlining the process for all parties involved.
When a customer taps, dips, or swipes their card at a customer-facing card terminal, the screen will display pre-populated tip amounts (such as 10%, 15%, 20%). The customer has the flexibility to select a tip amount, which will then be added to their total payment. You have the option to display the pre-populated tip amount as a percentage or a dollar value, and customers can enter their desired dollar tip amount using the 1-9 keys on the terminal. You can adjust these settings in Business Setup > Settings > Tipping.
Furthermore, if your staff shares tips, they will find MyTime Pay particularly beneficial. With a simple click, you can easily distribute tips among multiple staff members when a tip is left on a ticket. For more information on splitting tips, please refer to our article here.
Speed
We have seen cases of a 50% increase in checkout speeds and businesses have reported saving hours each week in reconciliation time after switching to MyTime Pay.
This time savings is mostly caused by going from double to single entry payment processing. Double-entry is when you enter an amount in your POS software (like MyTime), then move over to a different software or card terminal and enter the same amount there to take payment. If you're still doing this let us help you streamline your business practices.
Double-entry takes time, there is human error involved, and you have to reconcile external reports to MyTime reports. Again, we have the rates, hardware, and software solution you need to help you transition to MyTime Payments with no disruption and a multitude of improvements.
Reporting
There are a few key reports that get better when using MyTime Pay.
- Register Report
- You will now see a value for "Credit Cards Processed". The amount is automatically calculated based on your credit card volume.
- Business Snapshot
- You will now see a value for "Cards" which is automatically calculated based on your credit card volume.
- Daily Payments Report
- You will now see a value for "Cards" which is automatically calculated based on your credit card volume.
- Payment Dashboard
- This will be a new report for you. You can use this report to see what deposited into your bank account. In the past you would just see a deposit into your bank, now you can see which tickets and clients were associated with these deposits. The payment dashboard also shows refunds and debits issued to your connected bank, making reconciliation a breeze.
Card on File
The industry sometimes refers to this as tokenized payments. MyTime securely stores your customer's card in their client record for faster checkout in the future. Don't worry, the actual card number is not stored anywhere in MyTime. We replace it with a fake card number (token) and the actual card is stored on our payment processor bank-grade secured server.
We even covered the boring details of payment processing. As customers, we are constantly hearing about data breaches and theft of card information from our favorite retailers. That is potentially due to the fact that they are storing your card information on their internal servers. With MyTime Pay we took a detailed approach to accepting cards that keeps our business owners protected. With most processors, you have to pass a 300+ question PCI exam each year to stay compliant. With MyTime Pay our PCI questionnaire is 37 questions and we give you everything you need to complete the questionnaire in a few minutes. We were able to achieve a reduced PCI questionnaire due to the way we handle card payments. In short, Mytime never stores or sends raw card data during a card transaction.
Customer Support
MyTime Pay offers tremendous value to our customers, particularly in terms of payment processing assistance. We provide comprehensive support, covering everything from setting up your merchant account and ensuring PCI compliance to troubleshooting hardware and addressing deposit inquiries. The only exception is dispute resolution, which is handled externally. We recognize the significant advantage it brings to our business owners to have access to a dedicated team of experts who simplify the sometimes overwhelming process of handling disputes and chargebacks.