Frequently Asked Questions

Q- What type of merchants do you specialize in?

We specialize in what is referred to as “high-risk merchants”. These are business that many financial service businesses shy away from. These include businesses which require high-volume transactions, telemarketers, travel, collection agencies, pharmaceutical, Ecig, Continuity, MLM, Adult, Credit Repair and more.

Q – What is an Interchange fee?

An interchange fee is part of the transaction fee charged by the banks that issue debit and credit cards. The card issuer deducts the interchange fee from the amount it pays the acquiring bank that handles the transaction for the merchant. The acquiring bank passes the fee on to the merchant. The interchange fee has both a fixed charge per transaction plus a percentage of the transaction total.

For example, a merchant may make a $100 sale but only retain $98 if the merchant accepts payment by credit card. The other $2 is divided up, with about $1.75 going to the card-issuing bank for the interchange fee; $0.18 to Visa or MasterCard for assessment fees; and $0.07 to the merchant account provider.

Q – How do you keep my data secure?

Our online gateway processing platform is a state-of-the-art, secure, centralized, Internet-based application, built to exceed the demands of the online industry. We update our system regularly to help you maintain your online business, minimize your refunds, keep chargebacks low, and protect you from fraudulent transactions.
Our online payment gateway is a secure and reliable environment for your online credit card processing offering:

· Data managed in real-time, all transactions validated and authenticated in seconds
· Encrypted and Fire-Walled with a built in module to catch, combat and block fraudulent transactions
· Extensive negative database continually updated
· Complete back office accounting module with regular external auditing
· Geographical IP address location check
· Issuing bank BIN number country match
· Real-time Address Verification Check (AVS)

 Q. How do I apply for a merchant account?

Just fill out the free, no obligation, online merchant account application on our website and sign up for a 30-day risk-free trial. It should take you less than 10 minutes to complete the application process. Email to Info@MerchantConnections.com.

Q. How long does the approval process take?

Once your application is complete, the processing time is usually 24 hours or less, especially if we receive your application before noon PST. If approved, we will promptly inform you of your acceptance and deliver the terminal equipment or software.

 Q. What is considered a High Risk merchant?

High Risk businesses can often be labeled as such just because of the type of product they sell. Another way a business can be defined as high risk is their increased level of chargebacks, returns and business history. This is alarming to many businesses as they may exceed chargeback allowances merely because of the high volume of their sales. 

Q. What is interchange?

An interchange fee is part of the transaction fee charged by the banks that issue debit and credit cards. The card issuer deducts the interchange fee from the amount it pays the acquiring bank that handles the transaction for the merchant. The acquiring bank passes the fee on to the merchant. The interchange fee has both a fixed charge per transaction plus a percentage of the transaction total.

 Q. How often do I receive my processing settlements?

Settlements vary depending on the origin of the bank where you have established a merchant account. 1-2 week in arrears, daily and bi-weekly payment options are available.

Q. What is MCC

A merchant category code (MCC) is a four-digit number assigned to a business by credit card companies (for instance, American Express, MasterCard, VISA) when the business first starts accepting one of these cards as a form of payment. The code reflects the primary category in which the merchant does business and may be used by credit card companies to offer cash back rewards or reward points, for spending in specific categories. Additionally, the MCC is used to classify the business by the type of goods or services it provides. In the United States, it can be used to determine whether or not a payment needs to be reported to the Internal Revenue Service for tax purposes.

Q. What type of businesses do we accept?

We work with all types of business’ throughout the world. High-risk business are welcome. See our clients page to learn more.

Q. Do I need a business license to obtain a merchant account?

You do not necessarily need a business license, although it is a document that would satisfy the Premises Inspection Requirement. You do not need to have a business license if you can provide a different acceptable core documentation item that is required. These items vary depending upon the level of risk associated with your business.

Q. Do I need a business checking account to obtain a merchant account?

You only need a business checking account if your business is set up as a corporation. If it is a sole proprietorship, you may use a personal checking account or a business checking account.

Q. What if I have less than perfect credit?

Technically, your personal credit score does not affect your merchant account rates. However, if you have a low credit score there is the possibility that you may not be eligible. We can sometimes approve a merchant account application despite a low personal credit score by putting other stipulations in place.

 Q. My website isn’t ready; can I still qualify for an account?

Yes, we can accept temporary websites, something very basic that shows product and pricing. It does not have to be live to the public, but it should show enough to give us a sense of what you are selling and for how much.

Q. Is there a customer service number that I can call if I need help?

Yes! Our U.S.-based customer support team is always available. You will have live, toll-free merchant assistance by calling 1 888 403-3480.

Q. Will I receive a monthly statement?

Yes, a statement is mailed to you every month. You will also be able to obtain them by logging into your account online as many times a month as you wish. You can also see hourly, daily and monthly stats as well.

Q. Do you accept foreign businesses?

Yes we work with merchants worldwide.

Q. What is the discount rate?

The discount rate is the fee that a merchant pays to the acquirer for processing services that enable the merchant to accept bankcards as payment. Our discount rates are extremely competitive.

Q. What is the Address Verification System?

If you sell mail order/telephone order, or through the Internet, you don’t want to send a product to a false address and have a risk of receiving a chargeback. The Address Verification System (AVS) lets you enter the customer’s home address and compares it to the address on file with their credit card company. If someone uses a stolen card, and wants products shipped to a false address, AVS will help detect this for you.

Q. Can I use a smartphone or tablet to process credit cards?

Yes.

Q. What is PCI Compliance?

The Payment Card Industry Data Security Standard (PCI DSS) applies to companies of any size that accept credit card payments. If your company intends to accept card payment, and store, process and transmit cardholder data, you need to host your data securely with a PCI compliant hosting provider.

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