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Approval Guidelines
Each merchant is underwritten and approved based upon credit worthiness. Merchants are required to complete our Online Application, print and sign it, and fax signed application along with a voided check and government issued photo ID, or a valid drivers license with a photo I.D. to 866-449-9941.
Underwriting and approvals occur
same day!
Things to Know About Credit Card
Processing
Credit Card Acceptance
Getting a merchant account involves a credit underwriting decision based upon many factors including, but not limited to an owners credit history, financial capacity of the business, business type, refund policy, card present (swipe) vs. hand keyed (non-face to face) sales, and immediate delivery vs. future delivery of products or services sold. The reason being is that all cardholders are afforded a 6-month rescission period by Visa and MasterCard in which to chargeback a transaction. Thus, getting a merchant account entails a credit line for an approved monthly volume due to the fact funds are advanced to a merchants’ checking account on the premise they can receive a chargeback from a cardholder. When chargebacks occur, the Merchant Service Provider (“MSP”) is debited by the cardholders issuing bank and, in turn, the MSP will debit the merchants’ checking account.
Credit Card Authorizations
While credit card acceptance offers many benefits, it is important to remember credit cards can be stolen and used by perpetrators of fraud. When this occurs – You, the merchant are responsible for chargebacks resulting from fraudulent transactions. DO NOT ASSUME every transaction is valid and the funds are as good as “in the bank.” Keep in mind; it is OK to take precautionary measures to protect your business. For example on Internet or card not present transactions you should:
1. Make sure the address and zip code are verified.
2. Input the CVV2 Code
Chargebacks
Chargebacks occur for many reasons. For example, the cardholder could say to his or her issuing bank:
1. I didn’t authorize the transaction
2. I never received the product
3. The product description was misleading
The best protection against a chargeback is to swipe the card, do a manual impression of the card. If that is not possible do address verification, and/or a CVV2 (indicate the 3-digit number on the back of the card).
Should a chargeback occur (e.g., the cardholder contacts his or her issuing bank to request a chargeback), the issuing bank will request copies of the sale from the MSP. The MSP will, in turn, request from the merchant copies of documentation surrounding the transaction. You must respond timely, or you will lose by default. If the documentation is incomplete you could loose in a dispute. While it is the job of the MSP to educate its merchants and fight for their rights, it is equally important the merchant keep good records and provide them promptly when requested.
*Be cautious about shipping product internationally!
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