Frequently Asking Questions about Merchant ServiceEverything you need to know about merchant account and what real people ask from us and other merchant service providers.What kinds of credit card processing solutions are available?There are a wide range of solutions for all types of businesses. Swipe terminals for retail merchants; real-time processing for Internet sites; PC software for mail order/phone order and Internet businesses; touch-tone processing for low volume, seasonal and mobile merchants; and virtual terminals for Internet, mail and telephone order businessesRead More.. Are Internet merchant accounts compatible with all shopping carts?No. Shopping cart companies make their software compatible with certain secure payment gateways (ie. Authorize.net, Verisign, etc.)Read More.. Do I Need a Shopping Cart for Online Sales?Most online merchants do use shopping cart software to make the sales process easier for customers. You can choose from many different shopping cart programs.Read More.. How do I accept credit cards online?You have two options for online processing. One is called "real-time", where your customers are actually connected to a server and their credit cards are charged immediately when they place their order. The other is off-line processing, where the credit card info for each sales is saved securely online and you must retrieve it and process the sale manually.Read More.. Why a Paid Online Merchant Account is Better Than a Free Merchant Account?One important factor that determines the selection of a merchant service provider is the cost associated with a merchant account. These costs tend to differ from provider to provider and are usually high. Hence, many online business firms tend to be apprehensive about these accounts. In order to increase their business, merchant service providers or banks are always coming up with innovative business strategies. One such strategy is offering free merchant accounts. In this context, it is important to understand the differences between a paid merchant account and a free merchant.Read more ... What exactly is a Merchant Account?If you want to accept credit cards, whether you are doing business on-line or have a physical store, you will need to obtain a merchant account. A merchant account enables merchants to accept and process credit card transactions. In other words, it handles transferring the funds from the shopper's credit card to the merchant's bank account.Read More... How long does it take to setup a merchant account?Usually anywhere from a few days to a week if you are located within the US. If your outside of the US you can expect it to take several weeks. The turnaround time frame varies from provider to provider and which banks they are dealing with in order to get your merchant account approved.Why can't I just establish a Merchant Account through my current local bank?However, you'll probably discover that when it comes to smaller businesses, especially ones that are startups, home based or online, the vast majority of the banking establishment would prefer not to have these types of customers.Read More... What is the Terminated Merchant File or TMF?The Terminated Merchant File or TMF listed merchants whose merchant accounts were terminated for cause. Though the Terminated Merchant File (TMF) no longer exists, its name is still commonly used to refer to the MATCH file.Read More... I am opening up another location and would like to accept credit cards. What do I do next?The ownership of the new store must be the same as your existing account with us.Read More.. Why are there different rates for different accounts?The rates for merchant accounts vary based on the amount of risk involved in the transaction. The accounts with the lowest rates will always be the ones where the customer is present and the card is swiped and a receipt signed in a face to face transaction.Read More... Do you offer merchant accounts to businesses outside the United States?Yes, we do offer Merchant Service all over the world.Can I use someone else's merchant account to do my transactions?No, this is an illegal practice known as "credit card laundering" or "factoring." Using someone else\'s merchant account to do you credit card transactions can lead to heavy fines and perhaps more.Read More... What is a High-Risk Merchant?There are varying definitions for "high-risk merchants." But generally speaking, a high-risk merchant transacts business in a merchant category where loss-causing events (such as excessive chargebacks) are likely to occur.Read More... Will it be a big problem if my credit rating is less than perfect?Relax. It will be no problem at all. This is one of our specialties. We are able to get all types of merchants with all sorts of credit problems, even bankruptcies, set up with Merchant Accounts without ANY extra hassles, ridiculous stipulations and conditions, or additional fees.What is a chargeback?The name describes what it is - a processed credit card transaction that is reversed (charged back) to you because your customer or your customer's bank finds something wrong with the transaction. Read More... |
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