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What is MyTime Pay, and why should I switch?

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.

 

Rates

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 monthly processing volume over $20,000 per month. MyTime guarantees that we will match or beat your current rate!

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Online Payments

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, handsfree checkouts in the future. 

Enforce Cancelation Fees

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. 

Hardware

In terms of hardware choices, there has never been a better time to switch to MyTime Pay. MyTime just 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.

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Tipping

When a card is tap, dipped, or swiped at a customer-facing card terminal, pre-populated tip amounts will appear on the screen (example: 10%, 15%, 20%).  The customer is able to select a tip that is added to their total.  You can choose to display there pre-populated % or $ amount for the tip and the customer can use the 1-9 key to impute their $ tip. This can be adjusted in Business Setup > Settings > Tipping. 

If your staff splits tips they will also like MyTime Pay. When a tip is left on a ticket, in a simple click you can split tips amongst multiple staff members. See our article here on split tips. 

 

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 are still doing this please let us help 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. 

 

Security & PCI

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 get this done in just a few minutes. We were able to achieve a reduced PCI questionnaire due to the way we handle card payments. In short, the card data never passes through MyTime. It bypasses MyTime POS and the encrypted card data goes directly to our payment processors for approval. 

 

Customer Support 

For some customers, this has been of the greatest value ads of MyTime Pay. We have A-Z coverage in helping you with any payment processing related questions. From setting up your merchant account, PCI compliance help, hardware troubleshooting, and deposit questions we are trained to help with it all. Disputes are the only processing related item handled externally. We realized that it was a major benefit to our business owners to have an external group of dispute/chargeback experts guiding simplifying what can sometimes be a daunting process.

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