By beaverbuild32326615, Mar 2 2016 04:59PM
Is it safe to use my credit card for transactions at Beaver Builders Supply Inc.?
Is it easy to use credit card for my building project?
We can confidently answer 'Yes" to both of these questions.
This article may seem out of the realm of a building material supplier, but we feel that it's a central responsibility to protect our customers and that's why we partnered with Shift4 in February of 2014. Shift4 is the premier credit card processing intermediary in the market, and it's been that way for years.
Let's start with how this relates to our business:
The entire design and build process for residential projects typically takes between 2 and 6 months, depending on the project type. There may be upwards of 75 transactions for materials during this time. For example a simple roofing job may be 2 billings and a single credit that all takes place in two calendar months. However, a new house project may be accounted for with 80 invoices and 15 credits, and the credits might lag a month after the project is complete.
While Beaver Builders Supply has a credit department in house that most people use for their home projects, some few people want to use a credit card to pay for materials for various reasons. There is no limit to the size of project that we would use credit cards. It is wholly dependent on what works for the customer.
When using a credit card to pay for anything at Beaver Builders Supply, Shift4 TrueTokenization® technology is used. This technology is not encryption! Encryption can always be decrypted. The term token is overused in today's talk about credit card security. The idea of a token is like the old arcades, you exchange your quarter for a token that can only be used in a specific, discreet way. TrueTokenization® is a method by which a placeholder for the card information is created that is "organically random with no mathematical pattern to be unlocked." This is different than anything in the market, including major national online retailers that save card inforation for later use. While I'm not saying they are necessarily unsecure, we just know that our partnership with Shift4 makes us more secure.
Why is it important and useful to you?
Well think of what a nuisance it would be to give your credit card information for each of those 75 transactions! Or have to give the information a just a couple times while you were at work or otherwise occupied. On the other hand, think of how unsecure it would be if a merchant were to write down credit card information and input it from a notepad with each transaction! Niether of these methods are acceptable.
Instead, Beaver Builders Supply is able to capture a token when inputing your credit card information into the Shift4 platform only once. This token can then be used for many months (if you so choose) to process all billing and credit transactions making your project simple and secure for you. Your credit card statement would show our transaction amount as usual and we would directly send you copies of materials invoices.
If you like the sound of this or have a thirst for additional information, please see this article that does a good job of explaining why True Tokenization is truly a unique technology today.