Do I need a credit card Merchant Account and what is a Merchant Account?
Yes, you will need a Merchant Account to accept payment by credit card. Payment by credit card is convenient for your customers, and may help you get paid faster. A Merchant Account enables you to process credit cards, debit cards, gift cards, and electronic check transactions. It is simply the authority to accept payment by credit card – it is not an actual account at your bank. However, it does work hand-in-glove with your bank checking account.
Why do I have to fill out an application? Why do you have to check my credit?
Your credit is reviewed to assist in determining the risk associated with sponsoring your transactions into the card processing networks. Your transactions are sent for processing, and then your business checking account is credited. Those funds are available for you to use as you wish. The transaction is posted to your customer’s credit card statement, and they have the right to dispute any charges posted. If the customer disputes a transaction, a chargeback may be generated, which would be debited against your business’ account. In order to assess the risk of you having the funds to cover any potential chargebacks, a credit check or business financial statements are required.
How long does it take to get approved with a Merchant Account?
Once we have received all of the needed information to process your merchant account, approval generally takes 1-2 business days.
Can I keep my relationship with my bank?
Yes. Funds are deposited into a U.S. bank or credit union account of your choice.
What cards can I accept?
You’ll be able to accept all major cards; Visa, Mastercard, Discover, Diners, Union Pay, JCB, and American Express. JCB and American Express are optional and are subject to processing network approval.
Can I process debit cards?
Yes. You will be able to process PIN or Non-PIN debit transactions.
How do I accept payment on card-not-present transactions?
There are various options for processing payment when the actual credit card is not present during the transaction. Some of those are: website kiwigambling.co.nz transactions using a shopping cart and gateway service, keyed transactions via a Virtual Terminal, phone transactions, smart phone keyed transactions, and recurring billing. We will provide free consulting for you on the most efficient and cost & time effective method that is best for you.
Can I use my existing terminal equipment or software?
In most cases, yes. We will consult with you to make sure your existing equipment and/or software is compliant with all the industry’s security standards. In most cases, we will be able to quickly and easily work with your existing equipment or software. We never try and sell you anything you don’t need.
How are my fees collected?
The fees are collected, usually on a monthly basis, by an automatic deduction from the checking account you specified. You then receive a monthly statement by mail or electronically that details these charges.
How and when do I get my money?
A batch settlement will be initiated daily on your account. Funds are directly deposited into your checking account generally within 48 hours of that settlement.
How do I get started?
We can have you up and running in 1-2 business days, simply click.