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This page will give you a list of the most common questions that we found new business owner ask. If you have a particular question and haven't found the answer on this list or if you are still not clear on the answer you need, please feel free to contact us via e-mail or telephone and we will be glad help you.
Table of Contents:
Part 1: US Merchant Account
Part 2: International Merchant Account
US Merchant Account:
International Merchant Account:
"When It Comes to Helping You PayQuickly Stops at Nothing"
A merchant account is the authorization to process credit cards granted by a financial institution. Such financial institution has to be a member and certified by the Visa and MasterCard Associations to provide you the with the Merchant Account, and all of the services related to that Merchant Account.
How can I be approved for a Merchant Account?
PayQuickly opens merchant accounts for all legally existing companies, who exercise legal commercial activities, in any country in the world.
What do I need to be approved?
Please see our "Online Application Form" for information related to your Merchant Account.
How long does it take to be approved?
Once we have received your complete application, in most cases, you will receive an answer within 24 to 72 hours. Factors involved are your credit history, your average sales and type of industry you're in.
Do I need to open a new bank account?
Internet and Home based businesses are not required to open a business checking account. The funds will be directly deposited into your personal checking account.
A payment gateway is a service program that links a Web site with a merchant account. Data are collected then transmitted to the credit card acquirer who authorizes and settles the transaction. It enables the real-time processing of credit cards.
Make sure the customer filled out all of the information correctly . The credit
card shipping address should match with the cardholder's billing address. If it does
not then you need to find out why the customer wants the product shipped to another address. This is a very good sign of a
scam, but not all the time.
You can run the AVS on all credit card
transactions to make sure that the information they gave you matches with the
information on the file with the card issuing bank. We encourage you to contact the
customer to find out the exact reason he/she wants the merchandise to be shipped
at a different address.
The majority of people committing frauds use a free e-mail address to hide their identity. You can find out if a person is using a free e-mail provider by just visiting the web site. The Web site is the domain that comes after the @ symbol.
To give yourself better protection you should document all contacts you have with the customers. Keep a record of all e-mails and voice mails. Use a caller ID to prove your case.
Special caution on high orders. If you have a big order you should automatically call the customer to verify the transaction and ask questions.
Pay attention to orders that are sent by overnight delivery. Since they are not going to pay for it, they do not care about the extra charge and want to receive the merchandise as soon as possible.
We encourage you to place fraud warning notices on your order form and your web site. Let them know that fraudulent orders will be pursed to the fullest extent of the law and that you have ways of detecting fraudulent orders.
The most affective way, to clear up the situation and any possible confusion is to call the customer with the phone number they provided. If they gave you a bad phone number, then try contacting them via e-mail to get a good telephone number.
How can customers be secure paying with their credit cards on my Web site?
There is a standard for security in the Internet industry, called SSL (Secure Socket Layers) to encrypt sensitive personal information. If SSL is installed on the server where your Web site is hosted, your customer's credit card information will be secure.
We will transfer funds once a week to the local bank account you specified.
By E-commerce we mean the ability to sell goods and services over the internet. To enable your Web site to sell goods and services, you need a merchant account , a secure server for your form (SSL), and if you sell more than one product you will also need a Shopping Cart..
What needs to be done technically on my part?
Your technical contact needs to install a program on the server that hosts your Web site. The installation should take less than an hour for the technical contact. For questions on integration, have your developer contact us.
How can I review my transactions?
You will have an online back office that will enable you to review all the transactions you've had on your site.
When do I ship the merchandise?
You should be shipping the merchandise to your customer, the same day the credit card transaction is approved by the credit card acquirer.
An application fee is usually charged to cover processing costs. PayQuickly does not charge any application fee.
A setup fee is usually charged for hardware and/or software installation. PayQuickly does not charge setup fees.
Do I need hardware or software for my Internet Merchant Account?
You will only need a physical credit card terminal if you are processing credit cards manually such as retail stores. There is no need of hardware or software to accept credit cards over the internet. After you sign-up and are approved we will provide you with the code to place a link on your site to our secure server. This link will allow the credit card transaction to take place. You will also need shopping cart, which provides the interface that allows your customers to enter their credit card information.
No. We do not charge any annual fee. Some companies charge a fee for annually renewing a merchant's account.
AVS stands for "Address Verification" and is used to verify the cardholder's billing address in order to help combat fraud in card-not-present transactions (e.g. mail order, telephone order, internet ). A verification fee is sometimes charged to verify customers' addresses. You'll pay this fee with each transaction.
Is there any security deposit/reserve?
A reserve is collected to protect an ISO from possible loss by a business that has been categorized as risky. As an example Audio and Video Text or Travel Agencies are considered as risky. A reserve is a percentage of all VISA & MasterCard sales taken in during several months. The reserve is returned to the merchant , after a period during which a merchant builds a good reputation and shows a profit.
Programming fee is usually charged by ISOs if you purchase a credit card terminal. Information have to be downloaded from the POS Desk (processor) into your terminal. PayQuickly does not charge any programming fee.
This is the percentage of the gross sales that the Acquiring Bank deducts prior to transferring your money into your bank account.
What is the Per-Transaction Fee?
The per-transaction fee is the fee charged by ISOs to process each transaction.
Batch fees are charged daily on transaction submissions usually one batch of transactions daily. You may be charged a late batch fee if you do not close the batch within 24 hours.
What is the monthly statement fee?
The monthly statement fee also customer service fee is charged by ISOs for issuing monthly credit card transaction statements and servicing your account.
What is the monthly minimum fee?
A monthly minimum fee is charged if the amount paid in discount rate fees does not meet a monthly minimum set by the ISO usually $25.
Example: If your average ticket is $25 and your Discount Rate 2.35% + 30 cents. Your monthly sales volume is $600. ($600 x 2.35% = $14.1) $600 : $25 = 24 sales x $0.30 = $7.2. Total Discount Rate for the month is $14.1 + $7.2 = $21.3. In this case you will be paying the $25 minimum.
What is the monthly Gateway Fee?
The monthly gateway fee is the cost for using a third-party credit card processing service such as Authorize.net, Cybercash, Signio, Ka-Chingg etc....
The chargeback fee is a charge to the merchant in which the cardholder disputes a transaction. You will need show proof and documentation that the transaction is legitimate. You should always treat a charge back with the most importance.
What is a Voice Authorization?
If your credit card terminal or virtual terminal goes down, you will need to dial a voice authorization number to process your order and get an approval number. If you are a retail store you will also have to take an imprint of the card with your manual imprinter.
The Acquiring Bank is the financial institution in which the Merchant's credit card acceptance account is held and from which funds are transferred into your local bank account.
What shopping-Cart should I use?
The shopping cart software is the only software that has to be compatible with the payment gateway. For a list of compatible shopping cart feel free to e-mail us or you can see it at our web site.
There may be a chargeback for the following reasons:
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Cardholder account number is incorrect or otherwise invalid |
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Sale was not authorized or other required authorization was not obtained |
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Sale was authorized but not for exact amount or wrong transaction date |
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Cardholder never received merchandise/service requested or merchandise/service was not as represented by Merchant |
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Cardholder’s credit was processed as a sale |
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Cardholder was charged incorrectly |
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Cardholder was never credited for returned merchandise or a canceled order |
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Card was expired, counterfeit, altered, or invalid at time of sale |
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Cardholder’s sales slip was deposited more than once |
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Cardholder did not authorize or consent to the transaction |
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Authorization code is invalid |
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A Cardholder asserts any disputes, claim, counterclaim, defense or offset against you |
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Sales Data is incomplete, inaccurate, or is not delivered to us within the required time limits |
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Sales Data is fraudulent or does not represent a bona fide transaction in the ordinary course of your business, or is subject to any claim of illegality, negligence, dishonesty or offset |
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You have failed to provide copies of sales drafts requested by us (retrieval request) within the prescribed time period |
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Suspicious transaction or fraudulent transaction |
If you have a legitimate reason to dispute or respond to a chargeback, then you must do so by the date provided by us on our letter of notice of chargeback to you. We are not required to investigate, reverse or make any adjustment to any chargeback when thirty (30) calendar days have elapsed from the date of the chargeback. All responses to chargebacks must be in writing, and must contain the following information:
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Date of Debit/Credit advice |
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Total amount of the chargeback |
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Date and dollar amount in which the sale/credit was originally submitted |
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The date and authorization approval code |
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Case number |
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Any documentation to substantiate your claim. You should also include a cover letter detailing the reasons for requesting a review of the chargeback. You should keep copy of any correspondence and all documentation for files and should retain proof that we received your letter. |
Do I need to incorporate my company in the US?
No. We are one of the only institutions that can open a merchant account for a business in any country.
Do I need to open a US Bank Account?
No. We do not require that you open a US business account or have a presence in the US Territory. Our payment system will work with any existing bank account in the world.
We will transfer funds twice a month (8th & 23rd each month) to the local bank account you specified.
What currencies will I be able to accept?
Merchants can accept payments in up to 140 currencies and funds can be settled into your local bank account in most major currencies.
In order to insure that your customer is safe and protected when entering his/her credit card information onto your web site our Payment Gateway uses SSL Technology (Secure Socket Layer). All sensitive information are encrypted. Your order page should be hosted on a server that supports SSL.
How do I integrate my Web site with your Payment Gateway?
Integration is quite simple. Your technical contact needs to install a program on the server that hosts your Web site. The installation should take less than an hour. For questions on integration, have your developer contact us.
What do I need to be approved for my Merchant Account?
Please see our "Online Application Form" in the "International Merchant Account" for information related to your Merchant Account.
What Shopping-Cart should I be using?
The shopping cart software is the only software that has to be compatible with the payment gateway. Feel free to e-mail us for a complete list of compatible shopping carts or see it at our web site.
| Internet Merchant Account | Retail Businesses | Bad Credit Merchant Account | High Risk Businesses | Mail Order/Phone Order | Wireless Credit Card Processing | Offshore Businesses | Rates And fees | Internet Checks | Check Guarantee Service | Check By Phone/By Fax | Electronic Check Conversion | ACH Processing | Membership Management | Recurring Billing | Subscription Billing | ATM Machines | ATM Processing | Credit Card Equipment | Web Design | Shopping Carts | Payment Gateway | Tutorial | Questions And Answers | Chargebacks & Retrievals | Credit Card Frauds |
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Merchant account provided by, i Payment, Inc. a registered ISO/MSP of JP Morgan Chase Bank Copyright © 2000-2004 PayQuickly. All
rights reserved. |
