Credit Card Processing FAQ's
What is a discount rate you pay to Mastercard®/Visa®?
A discount rate is the percentage of each transaction that you pay to us for processing your credit card sales during credit card processing. The rate is largely determined by the percentage that is charged to us by Visa ® and MasterCard ® to accept credit cards.
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When are funds transferred to my account?
Funds are usually deposited to your account within 48 business hours.
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Does it cost extra to add Discover®?
No. Our FREE Visa®/MasterCard® merchant account setup also
includes FREE account setup with Discover®.
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Does it cost extra to add American Express®?
Other companies charge up to $100 to process an American Express® merchant
application. With us, it's FREE.
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What is a monthly minimum?
Virtually all merchant account providers have a monthly minimum fee which is
initiated if your credit card charges do not add up to a fixed dollar amount.
Your monthly minimum fee will be $25, which is normally satisfied with
approximately $900-$1,000 in credit card processing volume.
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We doubt it! We have deliberately designed our program to be the most user
friendly, yet affordable program today. In the unlikely event you find a more
competitive program, we guarantee we’ll either match or beat it!
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What if I have other questions?
Please don't hesitate to contact us! Feel free to call us directly at
(800)932-5708.
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How do I apply for a credit card processing service?
Click here and fill out the
simple application form. After you submit the online application, you'll
receive an e-mail containing an attached PDF application agreement. To complete
the application process, be sure to sign and fax the application to
(866) 999-6601.
A CardAccept representative will contact you shortly
thereafter to recap the details of the program you selected and answer any
questions you may have.
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Will I receive any training on the equipment or software?
Training is included as part of the package.
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Is there a support number I can call if I need help?
24 hours a day /365 days a year toll-free customer support is available.
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I already have a retail merchant account. Can I use it for
Internet sales?
No. If you have a retail merchant account, you’ll need to set up a second
account for your Internet or ecommerce credit card processing.
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What is a chargeback?
A chargeback is when a customer disputes a charge on their statement by
contacting their credit card company directly. If a customer doesn't
recognize or acknowledge the charge on their statement, or if they believe the
amount was wrong, they may call their credit card company and ask them to
investigate. The merchant bank will charge you a fee for the retrieval of
information, and if it's determined that the customer is victorious in the
dispute, there will be another fee for the chargeback itself. The
customer will be refunded the sale amount by the credit card company
directly.
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Do I need to open a new bank account for my merchant account?
No. All of the funds you collect from credit card transactions are deposited
directly into the bank account of your choice. You can even have the funds
deposited directly into your personal checking account if you are a sole
proprietor.
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What set up fees are charged for Internet transactions?
There are no set up or application fees. We own our own gateway and charge NO
per transaction gateway fees. Most of our competitors are reselling other
gateway products, which means that the gateway provider will generally charge a
per transaction fee.
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What is Address Verification System (AVS)?
AVS is a system used to confirm that the online customer knows the billing
address of the card holder.
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A payment gateway authorizes a credit card transaction through the Internet,
securely encrypts it and submits an authorization request to the card-issuing
bank. It then submits the transaction to the credit card processor which
deposits the funds into the merchant’s checking account.
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A Web terminal allows a merchant to process credit card payments from any
computer that has an Internet connection. It's a perfect solution for mail
order or telephone order merchants who don't wish to spend money on software or
a terminal.
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Real-time processing authorizes and charges the customer's credit card at the
time of purchase.
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