Merchant Accounts & Payment Services: internet payment gateway, online payment gateway, electronic payment gateway, merchant payment gateway, gateway payment, payment gateway, ecommerce gateway
Sales Number: 1-877-321-5784





Frequently Asked Questions

How long does it take to get an approval?

What do I need to get started?

Can I pay the application fee by check?

What if I do not have a corporate checking account?

What other cards do you offer?

What if I am a new start up company without a credit history in my company, will I get approved?

What if I do not have good credit?

What if I do not have a Federal Tax ID#?

When do I receive my funds?

How long does it take to get an approval?

What is a Chargeback?

Who am I getting the Merchant Account from?

Do I need to open a checking account with another bank?

What is 2.35% discount rate, and 25-cent transaction fee? How does that work?

How does the $25 Monthly Minimum work?

What if I already have a merchant account, can I use this for the internet?

What happens after I am approved?

Do I have to have an E-commerce Gateway?

What is the E-commerce Gateway offered by your partner?

How am I billed for the Merchant Account fees and the E-commerce Gateway fees?

What is My Merchant View?

 

 


 

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How long does it take to get an approval?
The turnaround time is 48 to 72 hours or 2 to 3 business days if we have all the information we need. We will work with you very carefully to avoid any delays

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What do I need to get started?
You will need the completed application, a blank, imprinted voided company check, merchant agreement and a viewable web site address or a photo of your establishment.  In addition, you may need financial statements from your previous processor or bank.

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Can I pay the application fee by check?
Your application fee will be deducted from your checking account or you may pay for your applicaiton using your credit card.

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What if I do not have a corporate checking account?
You will need to open a new business checking account. You cannot use a personal checking account.

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What other cards do you offer?
You receive a Master Card and a Visa Card with our program; additional cards are available for an extra charge. If you wish to accept the Discover card there is an additional $25 charge to establish your account which will be deducted from your checking account.  If you wish to accept American Express, American Express will deduct an additional $5 per month from your checking account.

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What if I am a new start up company without a credit history in my company, will I get approved?
When you submit your application, MCPS will run a credit check using your social security number. A credit line will be approved according to your credit. If you have any questions regarding your credit history, you may submit the MCPS “Pre-approval Application” located at http://merchantcommerce.net and select Option #1.

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What if I do not have good credit?
You may be subject to higher fees upon viewing your credit. Again, you may submit the Pre-Approval Application if you have any questions.

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What if I do not have a Federal Tax ID#?
Only Corporations use Federal Tax Ids. If you are a sole proprietor you may use your social security number.

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When do I receive my funds?
If you are accepted as a merchant with no restrictions, and most are accepted, your funds will be directly deposited into your checking account within two to three business days after you batch the order. Batching is a simple process that just requires you to review your daily transactions and either click to submit or allow the MCPS gateway to automatically upload at the time designated by you.

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How long does it take to get an approval?
Once we have received your completed application, it takes 2-3 business days for an approval. The complete E-commerce package takes 5-7 business days, which includes the setup of your gateway.

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What is a Chargeback?
A Chargeback of $25 is charged to a merchant when a consumer claims their card has been charged and the merchant has not delivered the product or performed the service. The $25 fee and the original charge to the consumer are debited from your account. A chargeback fee is NOT charged when a merchant processes a refund to credit card for a consumer.

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Who am I getting the Merchant Account from?
Your merchant account will be through MCPS, a registered ISO/MSP of JPMorgan Chase Bank.

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Do I need to open a checking account with another bank?
No, all funds are credited and program charges are debited from the checking account that you provide with your application. Visa/MasterCard will NOT accept personal accounts. You will need a "Business checking account".

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What is 2.39% discount rate, and 25-cent transaction fee? How does that work?
Visa & MasterCard and the processor take a fee for every transaction. On a $100 sale, the discount rate of 2.39% would deduct $2.39 from the $100 sale. There is a 25-cent transaction fee and a 5-cent AVS fee charged to each transaction. Therefore, on the $100 sale, the processor would keep $2.69, giving you, the merchant a net of $97.31. MCPS/Chase Bank will deduct these fees before depositing them into your checking account.

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How does the $25 Monthly Minimum work?
In the example above, the merchant would pay $2.69 cents in total transaction fees. The merchant account has a minimum of $25 per month in transaction charges. So if you did not do another order for the month, Cardservice International would charge you the additional $22.31 to cover the $25 monthly minimum. If you do zero orders a month, you will be charged the $25 monthly minimum. Simply put, your account will be charged $25.00 per month or the 2.39% discount rate and transactions fees – whichever is greater.

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What if I already have a merchant account, can I use this for the internet?
No. Most businesses have a “Brick and Mortar” Merchant Account already. This type of merchant account allows you to swipe your customer’s credit card, verify identity and obtain a signature. Because of this your discount rate is lower as there is less risk.

If you want to do real-time credit card processing on the internet, you must obtain an Internet Merchant Account. Internet Merchant Account transactions are a higher risk and therefore have a higher discount rate, however, the MCPS gateway partner uses Address Verification and Card Code Verification to help avoid fraudulent transactions.

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What happens after I am approved?
You will be given account information that must be given to your gateway provider to complete the e-commerce solution. The MCPS gateway will be able to integrate the gateway with your web site. Once your E-commerce solution is provisioned, you will be able to accept orders and payment via your web store or manually through the Virtual Terminal. You will also be able to view the status of your orders through a web interface by using a user ID and password.

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Do I have to have an Ecommerce Gateway?
Yes, your Online Merchant Account needs to be accessed and the gateway is how you will charge credit cards and connect your website to the merchant account. To “visualize” the gateway, for a “Brick-and-Mortar” account such as the one at your local grocery, it is the machine that swipes your credit card.

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What is the E-commerce Gateway offered?
The E-commerce Gateway is like an encrypted channel that passes the transaction securely from your customer's computer to the financial institutions to capture the authorization and approval. Once the transaction is complete, the information is sent back through the Gateway to complete the order and provide you with verification. The Gateway is also necessary for the secure transfer of funds from your customer's credit card to your merchant account. The Ecommerce Gateway offers many administrative features such as: viewing orders, keeping sales tax records, automatic batch uploads, a Virtual Terminal that is web-based and can be accessed from any computer with an internet connection for telephone or fax orders.

Most importantly, the gateway offered by MCPS does not use additional hardware or software and is a flat monthly rate without transaction fees.

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How am I billed for the Merchant Account fees and the E-commerce Gateway fees?
Your merchant account fees will be billed automatically and drafted from your business checking account.

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What is My Merchant View?
My Merchant View is an online interface that will allow you to monitor your merchant account on a daily basis instead of having to wait for your monthly statement. Once your merchant account has been activated, you will be able to create account.  This is a free service offered our customers.

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