FAQ | Merchant Processing

What is your rate?
The category of Interchange that a transaction falls into is dependent on the type of card used, and how the transaction is run (e.g. swiped through terminal, manually keyed into a terminal, manually keyed into a point-of-sale software system or entered by a customer on a website). Many providers quote a single rate that represents only a portion of your total fees while we take the time to learn about your business and how you process your cards so that we can provide the most cost effective solution for you.

Are you going to check my credit?
Basic credit checks are conducted to ensure that you're an established business with a proven payment history.

Why do you need financials?
The financials must be provided as a part of our underwriting process to determine credit worthiness.

Do you have a free terminal?
Occasionally we do offer FREE terminals based on special promotions supported by our hardware partners.

What am I personal guaranteeing?
You are simply agreeing that you will fulfill all financial obligations that arise as a result of our relationship.

What is a chargeback?
A chargeback is something that occurs when your customer denies a charge because they were not satisfied with your products or services or because they did not authorize the charge. We will educate you on ways to protect yourself from chargebacks as well as ways to reverse/win them if they do occur.

What are all the fees?
There are a number of fees related to accepting credit cards. However, more than 90% of the fees are a result of the interchange rates charged for each transaction. "Interchange" is a schedule of rates maintained and modified by Visa and MasterCard and it is available to the public on the Visa and MasterCard websites.

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