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Merchant Account Frequently Asked Questions
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General
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1. How Do I Get an Account, and How Are
Accounts Handled? |
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2. What Training and Support Do You Offer? |
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3. How Is Information Processed? |
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4. What Will a Gateway Do for Me? |
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5. What Will a Virtual Terminal Do for
Me? |
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6. Does this merchant account allow annual
billing? |
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7. Are funds deposited into merchant's
current business checking account or is he required to open an account
with the bank providing the merchant account? |
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8. What is the bank provifing the merchant
account? |
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9. Is there a contract for a certain amount
of time? |
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10. Are the rates being offerred guaranteed
for the term of the contract? |
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Billing Information
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1. What are the Startup Fees? |
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2. How Much are the Monthly Fees? |
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3. What are the Transaction/Discount
Fees? |
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4. Is there a contract for a certain amount
of time? |
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5. Are there any fees for terminating
the contract early? |
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6. Are there any fees for not renewing
the contract when it expires? |
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7. What are the fees for chargebacks? |
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ChargeBacks
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1. What is a chargeback? |
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2. What is a retrieval request? |
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3. How does a retrieval request
occur? |
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4. Are any funds deducted from my bank
account as a result of a retrieval request? |
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5. What are some of the reasons for chargebacks? |
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6. What should I do if I receive a chargeback? |
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7. How do I manage chargebacks? |
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General
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How
Do I Get an Account, and How Are Accounts Handled? |
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Prices of our services: Our prices are the most affordable
in the industry. Each price is based upon your custom needs according
to you industry, payment acceptance methods, accepted card types,
and other factors.
Setting up a merchant account does not take long: As soon
as you complete an online application, you will receive a merchant
number. In as little as 24 to 48 hours after your application is
complete, the account will be set up.
Merchant accounts will have approved processing limits: We
approve merchant accounts based on the dollar volume merchants list
on the application. e-onlinedata monitors account activity and reserves
the right to review the accounts if the volume extends much higher
or lower than the listed volume.
Review of merchants' credit information: When a credit card
transaction takes place, the cardholder is debited and you are credited
for the amount. However, the cardholder can dispute the charges
for up to 90 days after the transaction. When the cardholder makes
a chargeback, the transaction amount is automatically taken from
your account and credited to the cardholder. Therefore, we need
to ensure that each merchant applying for an account is in good
financial health, has a viable business, and operates with good
faith so that they and cardholders can resolve any disputes that
might arise.
Merchants' liability for disputed transactions: Mastercard®
and Visa® Card Association rules decide liability in case of disputes.
The merchant is liable for disputed charges if the credit card is
not present during the transaction. However, disputes of this kind
might be reversed, depending on the circumstances. e-onlinedata
has products and services that will effectively assist merchants
in this process.
How you receive payment for submitted transactions: To pay
money from your Mastercard and Visa accounts into your business
bank account, we use ACH (Automated Clearing House) However, American
Express and Discover will remit funds to your bank account if you
have service agreements with them.
If you are switching from another payment processor to e-onlinedata:
Please do not close your current account until your account with
us is set up to process. When you are ready to process with e-onlinedata,
then close the account with your former processor.
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What Training
and Support Do You Offer? |
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We have many types of training, to suit each merchant's
needs: We gladly provide you with telephone training not only
when you first start using us but later on as well. You will be provided
with easy-to-read training guides and user manuals so that you can
learn about our services and products. We will also keep you updated
on industry regulatory changes. |
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How Is Information
Processed? |
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You can see transaction information right
away: Obtain up-to-date transaction information via reporting
tools such as e-onlinedata Online, Re$ource Online, and SE Workstation.
Interchange fees: We pay credit card issuers interchange fees
for being allowed to use their cards in transactions. Mastercard and
Visa base the fees upon the industry and the transaction method.
Merchants can accept multiple credit cards: e-onlinedata supports
Mastercard, Visa, Discover, Diners Club/Carte Blanche, American Express,
and JCB. We process payment to merchants for Mastercard and Visa.
When a transaction is processed, the transaction is authorized, the
data is captured, and the merchant is paid.
Commercial cards: They are corporate, purchasing, and business
cards which Mastercard and Visa provides to certain card issuers.
Businesses can use them as an alternative to purchase orders, using
them to buy items such as office supplies and T&E. Commercial card
holders receive the benefit of itemized records of purchases. This
facilitates tracking expenses and getting reimbursed for expenses.
Private label cards: They are issued by certain merchant organizations
as an incentive for merchants to purchase from their members. The
cards carry the organization's name along with the issuer's insignia.
Card holders are awarded for using the cards, receiving discounts,
deferred payment, usage points and so on. |
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What Will
a Gateway Do for Me? |
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Definition of Gateway: A Gateway is usually a
third-party service that securely transmits web stores' payment to
a payment processor. A third-party Gateway is not necessary for clients
of e-onlinedata, since we offer our own secure Gateway for the benefit
of our clients.
Your business needs a Gateway: Gateways benefit e-Commerce
businesses in many ways. Gateways allow businesses to expand their
potential by reaching new customers. Your sales will likely increase
as a result of offering customers an easy, secure means of buying
online. Also doing business online can be cheaper and more convenient
than using a frame relay, dial-up, or leased line. In addition, Gateways
allow you to review batches and exceptions as well as access your
merchant account at any time you like.
No special equipment or extra telephone lines are necessary to
use our e-onlinedata gateway: Only Internet access is required,
and virtually all businesses already have that. The reason is that
the gateway uses a Virtual Terminal interface that works with Internet
browsers.
You can keep current on your account information and transactions:
Operating a business can take up most of your days and nights.
Therefore, we enable you to access information when it is convenient
for you, whenever that may be. Our customer oriented attitude goes
beyond that, though. We realize you may need customer support no matter
what hour it is. Therefore you have access to Customer Support via
a Virtual Terminal 24 hours per day, 7 days per week.
How to obtain interface information and register for the Gateway:
You can do both by completing our online application.
The Virtual Terminal is for "key entered" or "card absent" transactions:
It does not support "card swipe" transactions. It does support authorization,
authorization and capture, refunds, and voids. Extended order data
can be entered for reconciliation and tracking.
Using the Gateway involves no additional telecommunication costs:
We securely transmit data over the Internet, so there are no additional
telecommunication costs when data is transmitted over a leased line,
frame relay, or dial-up. There are transaction and monthly fees for
use of the service.
Transactions can be processed from many locations: Transactions
can be processed from websites, mail-order departments, and call centers--any
"card absent" channel. Simply integrate your order processing with
our specifications.
The Gateway offers fraud detection: Our systems offer fraud
detection including AVS (Address Verification System) and CVV2 (Card
Verification Value) services. |
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What Will
a Virtual Terminal Do for Me? |
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Definition of Virtual Terminal: It processes
much like a physical terminal, since it is a point-of-sale terminal
on which transactions are keyed in. It has a broad array of features
and requires only a PC with an Internet connection and web browser.
The Authorize.Net Virtual Terminal is a secure, browser-based interface
that enables businesses to authorize, process and manage credit card
transactions from any computer that has an Internet connection and
a Web browser. Virtual Terminal replaces standard authorization terminals
or software, and provides the best solution for merchants who manually
enter credit card transactions for mail or phone order sales.
Virtual Terminal suits businesses of all sizes because it reduces
the complexity and expense normally associated with authorizing and
processing credit card transactions. It's also much faster than standard
dial-up authorization systems.
Businesses with an Authorize.Net account may access the Virtual Terminal
through the Authorize.Net Web site using any Web browser. After logging
into their Authorize.Net account using a unique user ID and a password,
merchants can access the complete range of Authorize.Net services
-- authorizations for purchases, credits and returns, status and activity
reports, and much more.
To authorize credit card transactions, the merchant must complete
an electronic form that provides the Authorize.Net system with the
information it needs to complete the transaction. This information
is encrypted using the latest 40 or 128-bit Secure Socket Layer (SSL)
3.0 technology and is sent to an Authorize.Net host server. The server
then sends the data through the authorization network to the appropriate
card issuer's bank using a secure, proprietary connection. When the
process is complete -- this usually takes around three seconds --
the merchant receives an authorization number, and the Authorize.Net
server stores the transaction. Transactions are automatically settled
each day and are typically funded within two to three business days.
Merchants can also check the status of transactions and run a variety
of reports right from the Authorize.Net Merchant Interface. |
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Does this
merchant account allow annual billing? |
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No annual billing |
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Are funds
deposited into merchant's current business checking account or is
he required to open an account with the bank providing the merchant
account? |
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Current business checking account |
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What is
the bank provifing the merchant account? |
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Quad City Bank, Bentendorf Iowa |
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Is there
a contract for a certain amount of time? |
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One Year |
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Are the
rates being offerred guaranteed for the term of the contract? |
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Yes, except if V/MC Interchange increases
then it will be a increase a pass through |
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Billing Information
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What are
the Startup Fees? |
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There are NO Set up fees for your Merchant
Account, Payment Gateway and eCheck Account |
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How Much
are the Monthly Fees? |
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$10 monthly statement fee $10 monthly Authorize.Net
gateway fee $25.00 Monthly Minimum Discount Fee |
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What are
the Transaction/Discount Fees? |
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2.15% Discount Rate + 25 cents per transaction for V/MC
eCheck 1% Discount Rate + 25 cents per transaction $0.05 cent Authorize.Net
per transaction fee |
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Is there
a contract for a certain amount of time? |
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One Year |
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Are there
any fees for terminating the contract early? |
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$195.00 |
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Are there
any fees for not renewing the contract when it expires? |
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No |
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What are
the fees for chargebacks? |
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$25.00 |
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Chargebacks
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What is
a chargeback? |
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When a credit card transaction is disputed (either at
the request of the Cardholder or by a card Issuer), the dispute is
handled through a chargeback. A chargeback will cause the amount of
the original sale and a chargeback fee to be deducted from the checking
or savings account you provided in the Online Seller Enrollment Application.
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What is
a retrieval request? |
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A retrieval request occurs when your customer requests
more information about a transaction that appears on his or her credit
card statement. |
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How does
a retrieval request occur? |
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A customer contacts his or her credit card issuer to
initiate the request. |
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Are any
funds deducted from my bank account as a result of a retrieval request? |
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No, a retrieval request is just a request for information.
The amount of a retrieval request is not deducted from your bank account.
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What are
some of the reasons for chargebacks? |
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Some of the reasons for chargebacks include: • Merchandise
is damaged in transit and arrives broken • A Cardholder returns the
merchandise but has not received a refund • Fraud screening • Fraud
management • Seller acceptance • Support services • A Cardholder disputes
a transaction as an fraudulent use of their card. |
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What should
I do if I receive a chargeback? |
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If you receive a chargeback, read the chargeback carefully
and see if you are able to provide the requested information. For
example, for a "credit not issued" chargeback, the cardholder is stating
they are entitled to a refund, but have not received one. In this
case, if you receive a "credit not issued" chargeback but have already
sent a refund check to the customer, you can provide a copy of the
front and back of the cancelled check. |
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How do I
manage chargebacks? |
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To ensure safe receipt of merchandise, use
a form of shipping that provides proof of delivery. For higher ticket
items, require a signature for delivery. If a buyer contacts you with
a complaint about a purchase, work with that buyer to resolve the
dispute. If you can't resolve the dispute to their satisfaction, instruct
the buyer how to return the merchandise and what form of shipping
they should use. Once the merchandise has been returned to you, issue
a credit to the same credit card used to make the purchase. Pay attention
to the AVS (address verification service) response received. Don't
accept numbers and information that doesn't match and use common sense
in shipping to an address other than the buyer's billing address.
International purchases involve a higher risk, in part because address
verification is only available for US transactions. Here are some
terms you should become familiar with and some simple tips you can
use to manage chargebacks. Terms: • Chargeback The return of a sale
that has previously been charged to an Issuer and subsequently to
its Cardholder. • Re-presentment The re-submission by an Acquirer
of a previously charged back sale in an attempt to re-charge the Cardholder.
chargebacksly requires some form of additional documentation confirming
the validity of the charge and disputing the chargeback reason. •
Proof of delivery A delivery receipt signed by the cardholder or a
carrier's confirmation that the merchandise was delivered to the correct
address. |
