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FAQs

MERCHANT SERVICES

Q: How much will this cost?

Q: How long will it take to get set up?

Q: Can I use my existing equipment?

Q: What is "interchange" and how does it affect my fees?

Q: What is a Discount Rate?

Q: What are Non-Qualified Transaction Fees?

Q: When will I receive the money from the batch deposits made through my point of sale unit?

Q: What information is required when I call Merchant Support for service?

 

ANSWERS

MERCHANT SERVICES

Q: How much will this cost? 
A:  Your rate is determined by your processing method, volume and average ticket. Once we have that information, we can give you a quote.

Q: How long will it take to get set up?
A:  From the time we receive your completed application, it takes about 5 days for you to be able to process credit cards.

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. VISA, MasterCard, and Discover Network have more than 100 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.).

Q: What is a Discount Rate?

A:  For retail merchants, the Discount Rate charged on your merchant statement assumes that qualification requirements are met. The requirements include:

  • The credit card is swiped for authorization
  • The cardholder signs the receipt
  • The transaction is batched out (settled) within 24 hours
  • The authorization amount and settlement amount are equal
  • The credit card is a consumer card without a reward program

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:

  • Swiping cards instead of hand-keying in the card numbers
  • Entering AVS (address information) for the billing address
  • Settling (closing) the batch in a timely manner, usually within 24 hours
  • Not over-settling transactions. Over-setting means that a merchant obtains an authorization for $5.00 and settles the transaction for $10.00. This practice is most common with mail order merchants that charge shipping "after the fact." These merchants should re-authorize the card for the appropriate amount
  • Enter in invoice numbers when prompted
  • Entering tax amount and customer code when prompted

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. The actual number of days depends upon the setup of your account.

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.

 
 

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