Q: Can I use my existing equipment?
A: We support a variety of terminal types. We will need to know what terminal you are currently using in order to determine if it is compliant with VISA® and MasterCard regulations.
Q: What is "interchange" and how does it affect my fees?
A: Interchange is the largest portion of your Discount Rate. Interchange is the fee charged by the card issuer to reimburse them for the expense of processing the transaction through their settlement systems. The VISA, MasterCard, Discover, and AMEX networks have more than 650 different interchange pricing levels. The qualification requirements for each level vary depending on the card type (consumer, business, purchasing, international, rewards, etc.), the merchant type (retail, hospitality, fuel, etc.) and how the card was presented and processed by the merchant (swiped, key entered, internet, etc.).
A: For retail merchants, the Discount Rate charged on your merchant statement assumes that qualification requirements are met. The requirements include:
A consumer card has the cardholder's name instead of a business names, does not have "purchasing" or "business" on the front, and is associated with an individual instead of a company.
When a card does not meet the requirements of the Discount Rate criteria, it is processed at higher interchange fees. These fees are captured in the line item on your statement and may be labeled as several things, including "Non-Qualified".
Q: What are Non-Qualified Transaction Fees?
A: Transactions that fail to meet the Discount Rate requirements may be settled at a Non-Qualified rate. This "downgrade" in qualifications can be caused by any combination of reasons. Merchants that have a portion of their transactions qualifying as Non-Qual should make sure that they are:
Q: When will I receive the money from the batch deposits made through my point of sale unit?
A: Funding generally occurs anywhere from two to five business days from the time of the batch deposit. We now offer 24-hour funding, which means your deposits are usually received the next business afternoon.
Q: What information is required when I call Merchant Support for service?
A: You should have you Merchant ID number readily available to expedite your service. If this is not available, you should be prepared to answer questions specific to your account establishment for security purposes.