Disjointed Payment Systems and Problematic Partners Cost Time and Money

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Dilemma

1. Retail transactions slowed to anywhere from 60-90 seconds.

2. Lack of service and support from multiple entities.

3. Overpaying for payment processing.

4. Lack of support with PCI compliance.

Objectives

1. Speed up processing time for customers.

2. Have one point of contact for support.

3. Save on payment processing costs.

4. Get guidance with PCI compliance process.

Strategy

1. Technology upgrade to speed up processing time.

2. Dedicated, responsive resource for all support issues.

3. Competitive and accurate pricing.

4. Assistance with PCI security.

Results

1. Improvement in retail customer experience. Elimination of latency issues at check-out saved 240 hours in lost productivity and customer wait time each year.

2. Easy access to customer support. Only takes one call to dedicated relationship manager to get solve any issues.

3. Substantial cost savings.

4. PCI compliance takes far less time.

Background

Frontier Fasteners, Inc., a renowned distributor of high-quality fastener hardware, cutting tools, and other industrial supplies, has been family-owned and operated out of Fresno, California for over 50 years.

Jim and Stacy Mooney, the husband-and-wife team at the helm, built a company that has held true to its core, family-owned values from day one. Those values include maintaining a friendly, customer-focused staff and products that readily adapt to the evolving needs of their customers.

Dilemma

Twelve years ago, the Mooneys made the decision to update their payment solution and integrate payments to INxSQL to drive staff efficiency and drive a more modern payment experience. They opted to leverage a gateway offered at the time by INxSQL, Frontier Fastener’s ERP and inventory software solution.

This option would allow them to keep their back-end payment processor, a local company they had used for years. Not long after integration was complete though, their problems began. These problems included:

Retail transactions slowed to anywhere from 60-90 seconds

“We love our customers, but our team was coming up with topics to talk about while waiting for payment transactions to successfully authorize. We wanted to get our customers out the door so they could get on with their busy day. It was important to us to have a fast experience for them.”

Lack of service and support from multiple entities

“Our initial integration into INxSQL had three parties we would potentially have to contact whenever a problem came up regarding payments – INxSQL, the gateway provider, and the back end payment processor. We recognize the complexity with payments and software. It was really important to us to simplify getting questions to problems we needed.”

Overpaying for payment processing

“The payment industry pricing is confusing and difficult to tell what you’re paying and to whom. We want to be a loyal customer, but at the same time we want confidence that our costs are managed and what we’re paying is fair.”

Lack of support with PCI compliance

“We have always been concerned with data protection, and we’re aware of the risks if Frontier ever suffered a breach. Being someone running a fastener distributor, I want a partner to help simplify the PCI-DSS process as much as possible. I also wanted a resource I could turn to when it came to bounce questions or ideas off of when it came to PCI security.”

Objectives

1. Speed up processing time for customers to improve the customer experience.

2. Have one, dedicated point of contact that can provide support and answer any payment-related questions.

3. Save on payment processing costs and eliminate paying multiple fees to two separate vendors.

4. Get guidance with PCI compliance process and ensure customer data is protected against security breaches.

Solution

“We knew right away things were going to be different with Wind River. They came to us with a multi-faceted approach that would address the variety of issues we had been having.”

STEP 1: Technology Upgrade to Speed Up Processing Time

“Wind River offered a different device driven solution that connected to INxSQL all through an internet connection. The set-up process was simple and straightforward. They also vaulted payment data that allowed returning customers a much faster experience. Wind River brought processing time down to just a couple seconds.”

STEP 2: Dedicated, Responsive Resource for All Support Issues

“Our support time was cut by at least two thirds the time. I rarely,
if ever, have to call anyone, but if I do, I have the confidence that Jeff, our dedicated relationship manager at Wind River, will pick up the phone or immediately call me back to help with a problem or question. That is a huge value add and differentiator to our operations.”

STEP 3: Competitive and Accurate Pricing

“On top of being much more transparent with their pricing, Wind River offered competitive rates based on our volume and size. They reduced our net effective rate and implemented Level 2 and 3 pricing that helped us save on our B2B processing. There was an upfront investment for us to purchase hardware, but we will realize an ROI on that investment in year one.”

STEP 4: Assistance with PCI Security

“We have peace of mind around card and payment security for our business. The way Wind River implemented a turnkey compliance solution which includes Point to Point Encryption (P2PE) devices, makes us feel so much more secure. Becoming compliant has become easy thanks to the technology that Wind River and INxSQL uses.”

Results

Significant improvement in retail customer experience. Elimination of latency issues at check-out saved 240 hours in lost productivity and customer wait time each year.
Support is much easier to access. It only takes one call to our dedicated relationship manager to solve any issue.
Substantial cost savings thanks to a reduction in net effective rate, Level 2 and 3 implementation on B2B transactions, and elimination of paying multiple fees to two separate vendors.
PCI compliance takes far less time. Card data is secure and protected against a breach thanks to a turn-key solution and P2P encryption.

Customer Testimonial

““After 12 years of frustration of dealing with a former provider, we are so happy we have a system that works now. It’s safe and compliant. The costs are lower. It’s all upside for us. Our support has greatly improved, and our customers have noticed a dramatic improvement at the point of purchase” “ Jim & Stacy Mooney Frontier Fasteners, Inc.”

Jim & Stacy Mooney

Frontier Fasteners, Inc.