A new article posted by Dan Benomoz, President of Pharmacy Development Services
We are all looking for ways to increase profitability, but have you ever given thought to how your customers make their decisions to buy or not to buy? To Make one selection over another?
Click here to read the entire article
Wednesday, December 28, 2011
10 Security Predictions For 2012
Back to the Future In 2012 The future is hidden in the past and many trends that started or gained momentum in 2011 will evolve into serious threats in 2012. As always, cybercriminals will follow the money in finging ways to siphon valuable data from emerging computing platforms.
To read the entire article and 10 predictions written by Antone Gonsalves, CRN on Monday, December 26, 2011, please click this link.
To read the entire article and 10 predictions written by Antone Gonsalves, CRN on Monday, December 26, 2011, please click this link.
Monday, July 25, 2011
EvolutionPOS Big Hit at AmerisourceBergen and Cardinal Health Trade Shows in Las Vegas
EvolutionPOS was the buzz at both major wholesaler trade shows in Vegas last week. The new product, which is scheduled for release in 60-90 days, launched to rave reviews from existing customers and prospects alike.
The idea of eliminating virtually all of todays typical register hardware and replacing it with a hand held device with identical functionality was extremely well received. Getting all of that counter space back opens the door to new possibilities in the pharmacy. Many pharmacies could really use an extra register during busy periods, but they simply don't have the space. EvolutionPOS solves this problem.
For more information, click on the Products link on this website or call us at 877-767-1060. We are pre-booking orders today.
The idea of eliminating virtually all of todays typical register hardware and replacing it with a hand held device with identical functionality was extremely well received. Getting all of that counter space back opens the door to new possibilities in the pharmacy. Many pharmacies could really use an extra register during busy periods, but they simply don't have the space. EvolutionPOS solves this problem.
For more information, click on the Products link on this website or call us at 877-767-1060. We are pre-booking orders today.
Wednesday, July 20, 2011
Retail Management Solutions introduces EvolutionPOS, brings portable advantages to pharmacies
Olympia, Wash. Retail Management Solutions, the leading provider of point-of-sale technology for independent and institutional pharmacies, today introduced EvolutionPOS for Pharmacy, the first portable cash register replacement designed for use in retail and hospital pharmacies. The system is being demonstrated simultaneously at the AmerisourceBergen and Cardinal pharmacy trade shows this week in Las Vegas.
In a single, handheld, wireless terminal, the company has bundled all core point-of-sale functions. The transaction terminal, 8.5 inches long and weighing less than a pound, accomplishes the functions of a standalone cash register, barcode scanner, payment card terminal, receipt printer, signature-capture pad and more.
“We created this next generation of POS system as the logical step beyond conventional POS registers,” explained Brad Jones, president and chief executive officer of Retail Management Solutions. “EvolutionPOS will provide unprecedented efficiency, flexibility, convenience and cost savings for pharmacy owners and operators.”
“In retail pharmacies, this will add efficiency and enhance the customer experience,” said Jones. “In hospitals, it serves a specific purpose, enabling pharmacies to deliver discharge prescriptions to patients’ rooms before departure. This has a tremendous potential to reverse the trend of hospitalized patients leaving without the medications they need at home.”
Jones notes that retailers in many categories are adding portable data and check-out terminals, but many rely on consumer-level technologies, such as smart phones and tablet computers. “We built EvolutionPOS on enterprise-grade hardware and application technologies, to ensure that we meet and exceed the rigorous security, recordkeeping and regulatory requirements under which pharmacists operate.”
The specialized requirements of pharmacy operations include many functions that are built into EvolutionPOS, including:
• Barcode scanning of prescriptions and over-the-counter products
• Tracking of pseudoephedrine and controlled substances
• Real-time use and authorization of credit/debit and health program cards
• Immediate clearance of FSA-eligible items
• Electronic signature capture
EvolutionPOS sells for less than conventional POS registers and their associated check stand components. The terminal is offered in combination with the company’s proven back-office management systems, Star-Lite and Star-Plus, which provide real-time transaction reporting and trends, as well as inventory management and ordering efficiencies. EvolutionPOS can also be added to existing systems.
For further information, call 1-877-767-1060 or visit www.rm-solutions.com.
About Retail Management Solutions
RMS is the leading provider of point-of-sale systems for a full range of pharmacy environments. It serves more than 1,000 independent retailers and hospital pharmacies. The company’s products include the EvolutionPOS, Star-Lite, Star-Plus and Star-Link systems. The privately held, 12-year-old company is based in Olympia, Wash., and provides installation, training and 24-7 service nationwide.
Evolution POS for Pharmacy and EvolutionPOS are trademarks of Retail Management Solutions. Other trademarks referenced are the property of their respective owners.
In a single, handheld, wireless terminal, the company has bundled all core point-of-sale functions. The transaction terminal, 8.5 inches long and weighing less than a pound, accomplishes the functions of a standalone cash register, barcode scanner, payment card terminal, receipt printer, signature-capture pad and more.
“We created this next generation of POS system as the logical step beyond conventional POS registers,” explained Brad Jones, president and chief executive officer of Retail Management Solutions. “EvolutionPOS will provide unprecedented efficiency, flexibility, convenience and cost savings for pharmacy owners and operators.”
“In retail pharmacies, this will add efficiency and enhance the customer experience,” said Jones. “In hospitals, it serves a specific purpose, enabling pharmacies to deliver discharge prescriptions to patients’ rooms before departure. This has a tremendous potential to reverse the trend of hospitalized patients leaving without the medications they need at home.”
Jones notes that retailers in many categories are adding portable data and check-out terminals, but many rely on consumer-level technologies, such as smart phones and tablet computers. “We built EvolutionPOS on enterprise-grade hardware and application technologies, to ensure that we meet and exceed the rigorous security, recordkeeping and regulatory requirements under which pharmacists operate.”
The specialized requirements of pharmacy operations include many functions that are built into EvolutionPOS, including:
• Barcode scanning of prescriptions and over-the-counter products
• Tracking of pseudoephedrine and controlled substances
• Real-time use and authorization of credit/debit and health program cards
• Immediate clearance of FSA-eligible items
• Electronic signature capture
EvolutionPOS sells for less than conventional POS registers and their associated check stand components. The terminal is offered in combination with the company’s proven back-office management systems, Star-Lite and Star-Plus, which provide real-time transaction reporting and trends, as well as inventory management and ordering efficiencies. EvolutionPOS can also be added to existing systems.
For further information, call 1-877-767-1060 or visit www.rm-solutions.com.
About Retail Management Solutions
RMS is the leading provider of point-of-sale systems for a full range of pharmacy environments. It serves more than 1,000 independent retailers and hospital pharmacies. The company’s products include the EvolutionPOS, Star-Lite, Star-Plus and Star-Link systems. The privately held, 12-year-old company is based in Olympia, Wash., and provides installation, training and 24-7 service nationwide.
Evolution POS for Pharmacy and EvolutionPOS are trademarks of Retail Management Solutions. Other trademarks referenced are the property of their respective owners.
Tuesday, July 12, 2011
Apple Discount Drugs Wins Award
July 11, 2011 Contratulations to Jeff Sherr and his team at Apple Discount Drugs, winner of the 2011 McKesson Outstanding Effectiveness Award.
Monday, July 11, 2011
Listen to Interview with RMS VP Chris Gage
The 2.5 minute interview will air on the business channel of Delta & American Airlines in-flight entertainment. Chris discusses the role of independent pharmacy in the marketplace. Independent pharmacies fill roughly 40% of all prescriptions in the US, worth approximately $90 billion per year. To listen click here.
Friday, June 3, 2011
RMS Interface to MethCheck/NPLEx - updated 9/20/2011
Update Release Information - beta testing with Appriss is completed and we have been asked to focus on customers in states that are getting ready to go live on NPLEx. This means if you are already using the web version of NPLEx, you will need to continue doing so. Once we have the customers from states going live between now and the end of the year set up on our interfaced NPLEx version, we will contact you. This was a request of Appriss to avoid setting up each new member twice.
Retail Management Solutions announced today it is proceeding with an interface to Appriss Corporation's MethCheck solution to help combat the Meth problem around the country. Currently, 13 states now require pharmacies to participate in the NPLEx program which uses the MethCheck solution.
What is NPLEx?
NPLEx is a unique public/private partnership offering a real-time electronic methamphetamine precursor tracking service, free of charge, to law enforcement and state governments.
Who are the partners in the NPLEx system?
The National Association of Drug Diversion Investigators (NADDI) is the provider of the service. The manufacturers of the medicines are the sponsors of NPLEx, and pay for the entire cost of the service. Appriss®, Inc., is the technology vendor whose product, MethCheck, won the competitive bid to provide the service.
What is the cost to state government?
NPLEx is provided free of charge on a permanent basis to state governments that pass appropriate legislation and regulations. This includes implementation to all retailers, access to law enforcement, full 24/7 technical support, training for retailers and law enforcement, and maintenance and upgrades.
How does law enforcement get access to the data in NPLEx?Law enforcement officers simply contact Appriss and request the service. Upon verification, the officers will receive a user name and password, and will then have access to the system.
How does NPLEx work?The federal Combat Methamphetamine Epidemic Act of 2005 (CMEA,) as well as numerous state and local laws, require retailers of products containing pseudoephedrine and ephedrine to capture customer data at the point of sale. The pharmacy scans a government identification or enters the data into the secure MethCheck portal. The information is transmitted instantly to the database where it is available for review by law enforcement.
Why is real-time so important?
Real-time enables the blocking of sales that would exceed the legal limits, thereby potentially preventing the manufacture of methamphetamine. Real-time also prevents customers from inadvertently purchasing too much of the medicine, and finally, real-time gives law enforcement immediate information.
How secure is the data?The data is housed at the Appriss data center, subject to annual FBI audit, and under tight security policies that include independent security testing and HIPAA compliance. Appriss is also the disaster recovery site for the National Law Enforcement Recovery System (NLETS).
What about servers, software, or hardware?The NPLEx tool, MethCheck, is entirely web-based, with no servers, software, or hardware. Law enforcement and retailers need only a computer with Internet access.
What is a blocked sale?
All retailers in the system voluntarily block the sale of precursors that would exceed any law of jurisdiction, including 3.6 grams per day and 9 grams in 30 days according to federal law. When a transaction is submitted by a retailer that would exceed the limits, a message is instantly sent to the retailer recommending denial of the sale. A manual override can be used if the clerk feels in danger, and law enforcement is notified that the sale may have exceeded the limits.
Who has access to the data in NPLEx?
Retailers have access to the sales data from their own store. Only law enforcement can access the entire database, pursuant to the CMEA. Appriss, by necessity, has a very limited number of employees that can access the data to maintain the system and to respond to law enforcement requests.
How many stores are using MethCheck/NPLEx?Over 20,000 retailers in the United States are currently using the service, including all CVS, Rite Aid, and SuperValu stores.
Retail Management Solutions announced today it is proceeding with an interface to Appriss Corporation's MethCheck solution to help combat the Meth problem around the country. Currently, 13 states now require pharmacies to participate in the NPLEx program which uses the MethCheck solution.
What is NPLEx?
NPLEx is a unique public/private partnership offering a real-time electronic methamphetamine precursor tracking service, free of charge, to law enforcement and state governments.
Who are the partners in the NPLEx system?
The National Association of Drug Diversion Investigators (NADDI) is the provider of the service. The manufacturers of the medicines are the sponsors of NPLEx, and pay for the entire cost of the service. Appriss®, Inc., is the technology vendor whose product, MethCheck, won the competitive bid to provide the service.
What is the cost to state government?
NPLEx is provided free of charge on a permanent basis to state governments that pass appropriate legislation and regulations. This includes implementation to all retailers, access to law enforcement, full 24/7 technical support, training for retailers and law enforcement, and maintenance and upgrades.
How does law enforcement get access to the data in NPLEx?Law enforcement officers simply contact Appriss and request the service. Upon verification, the officers will receive a user name and password, and will then have access to the system.
How does NPLEx work?The federal Combat Methamphetamine Epidemic Act of 2005 (CMEA,) as well as numerous state and local laws, require retailers of products containing pseudoephedrine and ephedrine to capture customer data at the point of sale. The pharmacy scans a government identification or enters the data into the secure MethCheck portal. The information is transmitted instantly to the database where it is available for review by law enforcement.
Why is real-time so important?
Real-time enables the blocking of sales that would exceed the legal limits, thereby potentially preventing the manufacture of methamphetamine. Real-time also prevents customers from inadvertently purchasing too much of the medicine, and finally, real-time gives law enforcement immediate information.
How secure is the data?The data is housed at the Appriss data center, subject to annual FBI audit, and under tight security policies that include independent security testing and HIPAA compliance. Appriss is also the disaster recovery site for the National Law Enforcement Recovery System (NLETS).
What about servers, software, or hardware?The NPLEx tool, MethCheck, is entirely web-based, with no servers, software, or hardware. Law enforcement and retailers need only a computer with Internet access.
What is a blocked sale?
All retailers in the system voluntarily block the sale of precursors that would exceed any law of jurisdiction, including 3.6 grams per day and 9 grams in 30 days according to federal law. When a transaction is submitted by a retailer that would exceed the limits, a message is instantly sent to the retailer recommending denial of the sale. A manual override can be used if the clerk feels in danger, and law enforcement is notified that the sale may have exceeded the limits.
Who has access to the data in NPLEx?
Retailers have access to the sales data from their own store. Only law enforcement can access the entire database, pursuant to the CMEA. Appriss, by necessity, has a very limited number of employees that can access the data to maintain the system and to respond to law enforcement requests.
How many stores are using MethCheck/NPLEx?Over 20,000 retailers in the United States are currently using the service, including all CVS, Rite Aid, and SuperValu stores.
Wednesday, June 1, 2011
Chris Gage & RMS Roadshow Featured in Two Magazines in June
6/1/11 RMS Vice President of Operations, Chris Gage is just beginning her 6th month on the road visiting customers and business partners around the country. Recently, she was interviewed by Stores magazine and RV Life magazine to learn more about what she is up to for the next two years.
Below are links to both interesting articles:
Stores Magazine: http://www.stores.org/STORES%20Magazine%20June%202011/road-warrior
RV Life Magazine: http://www.rvlife.com/First-Glance/first-glance-living-life-to-the-fullest.html
Below are links to both interesting articles:
Stores Magazine: http://www.stores.org/STORES%20Magazine%20June%202011/road-warrior
RV Life Magazine: http://www.rvlife.com/First-Glance/first-glance-living-life-to-the-fullest.html
Friday, May 6, 2011
Somber Developments
The following post is from B. Douglas Hoey the Executive Vice President & CEO of NCPA. This appeared in the May 6, 2011 Edition of the NCPA Executive Update.
Dear Colleague,
Just before 6 p.m. last Friday, a man with a dark bandanna pulled up to his face walked through the front door of the Brunswick Pharmacy owned by Arjun Reddy Dyapa in Trenton, N.J. Brandishing a handgun, he went to the pharmacy counter and demanded drugs, according to police. He then went behind the counter and pulled out a bag where he wanted the drugs placed.
Dyapa refused and struggled with the gunman, who shot him once in the chest. The gunman fled empty handed and remains at large.
Dyapa, 54, a native of India, died on the way to the hospital. He is survived by his wife, their daughter, three brothers, and three sisters.
Our thoughts and prayers here at NCPA and I'm sure from community pharmacists everywhere go out to the family, especially wife Geeta and daughter Pooja.
While I didn't know Mr. Dyapa personally, I think I got a pretty good sense of who he was and what he meant to his community from this entry in his funeral home's online guest book:
"[He] was a very generous man. I was going through a very tough time in my life and [he] helped me with no questions asked. I will never forget the generosity that he showed me. He will always be remembered and there will always be a special place in my heart for him..."
Shortly after the brutal crime, Steve Ettman, owner of the Westside Pharmacy in Trenton, put up a $1,000 reward for information leading to the arrest and conviction of the person responsible for the robbery-homicide. Earlier this week, Purdue Pharma gave $10,000 to the Trenton Police Department and Crime Stoppers as a reward for information leading to an arrest. Purdue and Crime Stoppers are partners in RxPatrol and NCPA's Protect Your Pharmacy Now initiative.
The Indo-American Pharmaceutical Society has established the Arjun Dyapa Fund. Donations can be sent to IAPS, PO Box 751034, Forest Hills, NY 11375.
It's unfortunate that it takes a tragedy like this to sometimes make us pause and reflect on a number of things including the rise in criminal demand for prescription drugs and that we must do all that we can to protect our patients, our employees, and ourselves. Take a moment and go to the Protect Your Pharmacy Now! section of the NCPA website and use the Security Checklist to measure your business' strengths and weaknesses.
The incident in New Jersey was not the only tragedy to strike the independent pharmacy community last month. Destructive storms pounded the South in April and flooding remains a threat all along the Mississippi River basin and in several other parts of the country. Fortunately, there are no deaths that we know of pharmacy owners and their staffs, but there are businesses and homes lost and lives and communities disrupted. Some pharmacies are operating out of trailers; some are running off generators. Recovery is underway, but for many it will be a long and painful process.
The NCPA Foundation has sent checks to 12 independent pharmacies destroyed or damaged, but more pharmacy owners still need assistance. A donation from you to the foundation's Disaster Relief Fund is urgently needed.
If you've already made a donation, thank you for your generosity. If you haven't made a donation yet, please visit the donation page of www.ncpafoundation.org to make a tax-deductible contribution, or email ncpaF@ncpanet.org to request a donation form.
Now more than ever, independent community pharmacists must stand together.
Best,
B, Douglas Hoey, RPh, MBA
Dear Colleague,
Just before 6 p.m. last Friday, a man with a dark bandanna pulled up to his face walked through the front door of the Brunswick Pharmacy owned by Arjun Reddy Dyapa in Trenton, N.J. Brandishing a handgun, he went to the pharmacy counter and demanded drugs, according to police. He then went behind the counter and pulled out a bag where he wanted the drugs placed.
Dyapa refused and struggled with the gunman, who shot him once in the chest. The gunman fled empty handed and remains at large.
Dyapa, 54, a native of India, died on the way to the hospital. He is survived by his wife, their daughter, three brothers, and three sisters.
Our thoughts and prayers here at NCPA and I'm sure from community pharmacists everywhere go out to the family, especially wife Geeta and daughter Pooja.
While I didn't know Mr. Dyapa personally, I think I got a pretty good sense of who he was and what he meant to his community from this entry in his funeral home's online guest book:
"[He] was a very generous man. I was going through a very tough time in my life and [he] helped me with no questions asked. I will never forget the generosity that he showed me. He will always be remembered and there will always be a special place in my heart for him..."
Shortly after the brutal crime, Steve Ettman, owner of the Westside Pharmacy in Trenton, put up a $1,000 reward for information leading to the arrest and conviction of the person responsible for the robbery-homicide. Earlier this week, Purdue Pharma gave $10,000 to the Trenton Police Department and Crime Stoppers as a reward for information leading to an arrest. Purdue and Crime Stoppers are partners in RxPatrol and NCPA's Protect Your Pharmacy Now initiative.
The Indo-American Pharmaceutical Society has established the Arjun Dyapa Fund. Donations can be sent to IAPS, PO Box 751034, Forest Hills, NY 11375.
It's unfortunate that it takes a tragedy like this to sometimes make us pause and reflect on a number of things including the rise in criminal demand for prescription drugs and that we must do all that we can to protect our patients, our employees, and ourselves. Take a moment and go to the Protect Your Pharmacy Now! section of the NCPA website and use the Security Checklist to measure your business' strengths and weaknesses.
The incident in New Jersey was not the only tragedy to strike the independent pharmacy community last month. Destructive storms pounded the South in April and flooding remains a threat all along the Mississippi River basin and in several other parts of the country. Fortunately, there are no deaths that we know of pharmacy owners and their staffs, but there are businesses and homes lost and lives and communities disrupted. Some pharmacies are operating out of trailers; some are running off generators. Recovery is underway, but for many it will be a long and painful process.
The NCPA Foundation has sent checks to 12 independent pharmacies destroyed or damaged, but more pharmacy owners still need assistance. A donation from you to the foundation's Disaster Relief Fund is urgently needed.
If you've already made a donation, thank you for your generosity. If you haven't made a donation yet, please visit the donation page of www.ncpafoundation.org to make a tax-deductible contribution, or email ncpaF@ncpanet.org to request a donation form.
Now more than ever, independent community pharmacists must stand together.
Best,
B, Douglas Hoey, RPh, MBA
NCPA Executive Update is a weekly e-newsletter for pharmacy leaders from NCPA Executive Vice President and CEO B. Douglas Hoey, RPh, MBA. Through NCPA Executive Update, you will receive information on legislative, regulatory, and marketplace developments.
Monday, May 2, 2011
Pharmacy Development Services
As a group, community pharmacy is larger than the chain pharmacies. Why are we playing defense? The answer is that a number of entities, be it wholesalers, PBM's, GPO's, legislators, etc., have a vested interest in us not talking to each other.
We must take back our destinies and put the control in our own hands. After all, the opposite of "Divide and Conquer" is "Unite and Prevail."
The first part of any plan is an effective communication system. We have to be able to talk to each other quickly, in an environment where there are no vested interests or ulterior motives. Pharmacy Development Services, a company that exists to help independent pharmacists achieve their personal and financial goals, wants to invite you to join our version of the pharmacists' "EMERGENCY BROADCAST SYSTEM."
To read more about this free program, click the title above.
We must take back our destinies and put the control in our own hands. After all, the opposite of "Divide and Conquer" is "Unite and Prevail."
The first part of any plan is an effective communication system. We have to be able to talk to each other quickly, in an environment where there are no vested interests or ulterior motives. Pharmacy Development Services, a company that exists to help independent pharmacists achieve their personal and financial goals, wants to invite you to join our version of the pharmacists' "EMERGENCY BROADCAST SYSTEM."
To read more about this free program, click the title above.
Friday, April 8, 2011
Consumer Reports' drugstore ratings: 94% of shoppers "highly satisfied" with independents
CR's story said, "People who filled their prescriptions at independent stores also praised the pharmacists' accessibility and personal service, and encountered fewer delays and medication mix-ups than those who shopped elsewhere." A whopping 94% of consumers who used independent pharmacies were satisfied.
To read the entire article, please click on this link
To read the entire article, please click on this link
Tuesday, April 5, 2011
RMS Launches New Bi-Weekly Customer Newsletter
"Did You Know? from RMS" is the name of the e-newsletter published every two weeks by the team at Retail Management Solutions. In each issue, the short email asks and answers three or four questions designed to ensure you know about and have the opportunity to use the products and services offered by RMS. If you miss an email, you can view all back issues by logging into the client section of the RMS website.
Monday, April 4, 2011
RMS Roadshow moves to Arizona
Olympia, WA April 1, 2011 After starting her tour in California, Chris Gage, vice president of operations for RMS, will continue her roadshow in Arizona. Ms. Gage sold her home at the end of 2010, purchased an RV, and hit the road in an effort to open lines of communication with pharmacists. To date, she has visited nearly 30 pharmacies in California and has stops planned in Phoenix, Maricopa County and Tucson, Arizona.
To read the entire press release, please click on this link
To read the entire press release, please click on this link
Wednesday, March 9, 2011
Letter from Verifone CEO regarding Mobile Device Credit Card Fraud
March 9, 2011 Today is a wake-up call to consumers and the payments industry. Last year, a start-up named Square introduced a credit card reader for smartphones with the goal of making it very easy for anyone to accept credit cards through a mobile device. Seems like a great idea, but there is a serious security flaw that Square has overlooked that places consumers in dire risk.
Click here to read more
Click here to read more
Monday, February 7, 2011
The RMS Roadshow is now online. Follow the fun!!
Feb 7, 2011, Olympia, WA The Roadshow http://www.rms-ontheroad.com/ is a grassroots customer service campaign that will take RMS Vice President of Operations, Chris Gage, around the country for the next 2 years in her RV to personally meet our customers. The goal is to ensure we truly hear, understand and address their needs.
While technology has improved our lives and businesses in many ways, it has also created communication barriers. Anyone who uses email has probably experienced a situation where their words were misunderstood or their messages went unread. The Roadshow pays tribute to “old school” service where nothing could replace actually standing inside the walls of your customer’s business, having a face to face conversation and then shaking hands until next time.
The idea for the Roadshow was conceived by Chris in April of 2010 after completing a personal and professional development program called “Live a Thousand Years”. RMS’ CEO Brad Jones had seen the creator of the program, Giovanni Livera, perform at a pharmacy industry trade show and was so inspired that he gave all employees at RMS the program and served as a mentor to see them through it. From this, Chris was able to envision a plan where she could combine her personal goal of seeing the country with her professional goal of establishing stronger relationships with her customers. She presented this plan to Brad in May of 2010 and by October she had sold her house and moved into the 40 foot RV she now calls home and office.
While technology has improved our lives and businesses in many ways, it has also created communication barriers. Anyone who uses email has probably experienced a situation where their words were misunderstood or their messages went unread. The Roadshow pays tribute to “old school” service where nothing could replace actually standing inside the walls of your customer’s business, having a face to face conversation and then shaking hands until next time.
The idea for the Roadshow was conceived by Chris in April of 2010 after completing a personal and professional development program called “Live a Thousand Years”. RMS’ CEO Brad Jones had seen the creator of the program, Giovanni Livera, perform at a pharmacy industry trade show and was so inspired that he gave all employees at RMS the program and served as a mentor to see them through it. From this, Chris was able to envision a plan where she could combine her personal goal of seeing the country with her professional goal of establishing stronger relationships with her customers. She presented this plan to Brad in May of 2010 and by October she had sold her house and moved into the 40 foot RV she now calls home and office.
Tuesday, February 1, 2011
Debit Cards -- Changing Landscape
Feb 1, 2011 As you may be aware, last year, the pin debit networks all dramatically increased their pricing structures and eliminated the cap on their fees....at the same time that Visa/MC lowered their signature debit interchange rates (particularly on sales under $15).....taking away the cost advantage for merchants when customers use pin activation....there is a great savings for NON-PIN debit transactions under $15.
As part of the Dodd-Frank financial reform act passed last year by Congress and signed by President Obama, the government is now required to put limits on debit (signature and pin) interchange fees. The Federal Reserve is responsible to gather information from the public and establish the rules.....they have announced preliminary guidelines, which must be finalized by the end of April and implemented at the end of June.
Currently, debit (pin and signature) interchange fees range from approximately 1% of the value of the sale plus between $.16 and $.24 per transaction...there are variations between Visa/MC and the pin debit networks, but they are all pretty close.
The PRELIMINARY recommendation by the FED is to limit debit interchange fees to between $.07 and $.12 (a number of variables for the range and smaller issuing banks would not be subject to the interchange limits) and not have any percentage......these do NOT include fees charged by processors (like First Data/CTS) for their services.
If the recommendations are anything like the final rules, merchants will save significantly. It is unclear what will happen to the pin debit networks as they do not have other revenue sources to make up the shortfall.....we are already seeing banks institute new fees to make up for the billions they will lose when the interchange is regulated.
As part of the Dodd-Frank financial reform act passed last year by Congress and signed by President Obama, the government is now required to put limits on debit (signature and pin) interchange fees. The Federal Reserve is responsible to gather information from the public and establish the rules.....they have announced preliminary guidelines, which must be finalized by the end of April and implemented at the end of June.
Currently, debit (pin and signature) interchange fees range from approximately 1% of the value of the sale plus between $.16 and $.24 per transaction...there are variations between Visa/MC and the pin debit networks, but they are all pretty close.
The PRELIMINARY recommendation by the FED is to limit debit interchange fees to between $.07 and $.12 (a number of variables for the range and smaller issuing banks would not be subject to the interchange limits) and not have any percentage......these do NOT include fees charged by processors (like First Data/CTS) for their services.
If the recommendations are anything like the final rules, merchants will save significantly. It is unclear what will happen to the pin debit networks as they do not have other revenue sources to make up the shortfall.....we are already seeing banks institute new fees to make up for the billions they will lose when the interchange is regulated.
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