- What is a merchant account?
- How long is the approval process?
- What are the costs, fees and charges?
- Do you only offer offshore merchant accounts?
- When will I be paid?
- Will I have my own billing descriptor?
- What if I don’t get approved?
- Why are there different rates for different merchants?
- What are chargebacks?
- What is a monthly gateway fee?
1) A merchant account is a facility which allows a business to accept payment for goods and services via credit cards. This process has a variety of labels, some of which are: e-commerce, e-payment processing or online credit card processing. Business owners (Merchants) who wish to accept payment via credit cards must apply for a merchant account facility, usually through a payment service provider or acquiring merchant bank.
2) We work directly with our clients to ensure their web sites are in compliance with the card associations and acquiring bank requirements. Upon receipt of completed application forms and all supporting documentation, approvals are typically issued directly by the bank within 5 business days. Start Up businesses may take up to 15 business days. Switching to us from another processor is a fast, and simple process, and merchants switching to us from another processor can anticipate a much quicker turnaround and of course much better rates!
We are transparent with all of our fees. The fees are outlined on our pricing page, of course a formal fee schedule will be issued for your approval once your application is approved. So there is absolutely ZERO risk, go ahead and apply today!
4) NO! While we are the specialists in International Online Payment Processing and as such are able to accept merchants for our payment processing solutions from MANY countries including The Netherlands, France, Germany, Belgium, The United Kingdom, China, Brazil, Israel, Singapore, Spain, South Africa, Hong Kong, Italy, Denmark, Australia, New Zealand, Cyprus, Malta, Norway, Sweden and more.
We also offer the most competitive rates for payment processing solutions in the United States and Canada.
5) Payments are usually issued weekly, 14 days in arrears.
6) Yes. We offer all merchants the opportunity of opening their own direct payment processing account. Each merchant account has its own unique, personalized billing descriptor.
7) We have an extremely high approval rate for all legal businesses, so it’s very unlikely that you wouldn’t get approved. We go over all the details of your business before you apply, we do this specifically to be sure that you will get approved or advise not to apply.
Why are there different rates the same for different merchants?
8 ) We offer transparent flat rate pricing for all small to medium enterprises. In our experience most merchants use core services and as such we have simplified everything to ensure smoother setup, start up and accounting. Larger, well established high volume merchants of course may get rates that are even lower.
9) A chargeback is what it’s called when a transaction is reversed. In other words, rather than adding money to your account it is deducted. Chargebacks can occur for a wide variety of reasons, such as double-charging, credit card expiration, bank error and customer disputes.
10) A gateway fee is a monthly fee assessed for access to the online internet merchant account gateway for processing of transactions, and is usually billed directly through your merchant account by your processor. The monthly fee with us is only $99 and includes the gateway fee. In addition there are per transaction fees of $0.69 that the acquiring bank will levy.
Our pricing is transparent and simple, with no hidden charges. Just click the Pricing link and you can see the pricing for yourself. We can have you up and running in no time.
Already have a merchant account…
But you are looking for better service, better rates, faster settlements? We can help. We will analyze your current processing and tell you if we can do better. Just click the apply link, fill out the form and we will send you information.