FAQ
What is a merchant account?A merchant account is an account at a financial institution that allows you to accept credit cards. You can acquire a merchant account directly from your local bank or another bank of your choosing.
How long does it take to get setup with credit card processing?
It can take as little as 24 hours or as much as up to two weeks. We make every effort to process your request as quickly as possible.
What is a discount rate?
A discount rates are basically a percentage that is taken from the charge that is being processed. For example, if your discount rate is 4.35% and you have an order for $100, the discount rate being deducted would be $4.35
What rates will I pay?
Rates vary depending on the nature of your business, what your business is, what type of volume, average ticket, how long you been doing business, what your business model looks like etc.
It is difficult for us to quote a rate for you realistically without any knowledge of these factors. As you may understand, rates for e.g. a retail supermarket will be lower than an online adult store or online pharmacy.
By simply filling out our merchant pre-application form, we can determine and quote you the best rates we can.
Do you offer High Risk Merchant Accounts?
Yes, we offer high risk merchant account solutions! Most merchant account services will refuse to work with high risk accounts such as adult, travel, telemarketing (moto), multi level marketing, legal pharmacy, dating websites, collection agencies, etc. For these type of high risk businesses we routinely work to get merchant accounts approved.
We of course will do whatever we can to get you approved for the lowest rate possible. Simply fill out our pre-application form and a team member will follow up with you and get you setup as quickly as possible.
How is my money protected?
We employ the highest security standards in the industry and is at the forefront of key protection issues for both traditional and online merchants, including fraud, loss prevention and chargebacks. Our state-of-the-art security technology, and Secure Payment Gateways with Secure Sockets Layer (SSL) technology which were specially designed to encrypt and protect customer and merchant and payment information.
What are chargebacks?
Any transaction that is returned by the card issuer is called a chargeback. In other words, rather than adding money to your account, money is deducted. Chargebacks can occur for a wide variety of reasons such as customer dispute, bank error, duplicate proccesing and expired card.
Can I use someone else's merchant account for my transactions?
Absolutely not. Today this practice is known as "credit card laundering" or "factoring." It is against the Visa and MasterCard agreement. Using someone else's merchant account to process your credit card transactions can lead to heavy fines and perhaps more. In addition, you'll also put that merchant's credit card processing account in jeopardy.
What kind of transaction reports can I get?
We provide detailed reporting that you can access 24/7 online, using our downloadable software.
What if I need help with my account?
We have a dedicated team ready to help you. In addition, you can access your merchant account information online at any time, from any location.
What is a Banking Day?
A banking day is a typical working day other than weekends and holidays when banking institutions are closed.
What is a Batch?
A collection of transactions that are held at a single terminal or outlet are considered a batch even though they may contain any number of shifts or days' worth of data.
What is a Floor Limit?
A floor limit is a transaction amount agreed upon between an acquirer and a merchant for a single transaction. Any transaction that is above this amount requires an authorization approval through the acquirer. In most cases, this is also subject to compliance with various conditions. The floor limit for international card not present (CNP) transactions is zero.
What is a Reconciliation?
Reconciliation is the method by which a merchant compares the business conducted according to his data capture terminal records with the sum credited to his bank account as recorded by the acquirer.