Details
A merchant account is an agreement in which a merchant is able to accept credit cards and the acquirer (payment processor) directly deposit the funds into the merchant's business checking account.
Network Solutions® offers three different types of Merchant Accounts powered by Bank Card Services Worldwide:
Retail Brick and Mortar
This is when you have the card in hand and you can swipe the card to get an authorization
Mail Order/Telephone Order
This is when your sales come from mail, fax, or phone
Internet
This is when you take cards over the Internet via a website
What do I need to process credit cards?
Retail Brick and Mortar
You will need point of sale equipment to process credit cards. You can either use a standard landline terminal with swiping capabilities or our robust web based virtual terminal. Our web based virtual terminal is easy to use and all you need is an Internet connection.
Mail Order/Telephone Order
You will need point of sale equipment to process credit cards. You can either use a standard landline terminal or our robust web based virtual terminal. To get the best rates possible, make sure you obtain your customer's billing address and key enter the transaction into your landline or virtual terminal.
Internet
You will need a merchant account and also a gateway.
FAQs
What is a merchant account?
A merchant account is an agreement in which a merchant is able to accept credit cards and the acquirer (payment processor) directly deposit the funds into the merchant's business checking account.
What is a gateway?
A gateway is a secure portal that connects to your shopping cart and transmits the credit card information to the payment processor for authorization and settlement. All Internet merchants require a secure payment gateway to process transactions.
Do I have to have use a gateway if I'm selling online?
Yes, everyone who sells online must use a gateway to send secure transactions to a processor.
What if I just want to use a PayPal® button or Google® Checkout, can I do that?
Yes, and they are secure ways to take payment.
How long does it take to get a merchant account?
Final approval and set up usually takes only 48 hours. It's easy!
What if I'm a new business, can I get a merchant account?
Yes, we can set up new and existing businesses.
How will I know how to setup my gateway?
After you are approved, a technical support staff person can walk you through the easy set up process. You are also given easy to follow instructions on how to set up your new gateway if you choose to do it yourself.
What type of bank account will I need?
We will deposit directly into the checking account of your choice. If you are registered in your state as anything other than a sole proprietor, we will need a business check. If you are registered in your state as a sole proprietor, a personal check can be used.
Why does it cost me to accept credit cards as payment?
Credit card issuers charge all merchant service providers the same rates for accepting the cards they offer. It covers their services of authorization, payment forwarding, and branding.
What is a Virtual Terminal?
A Virtual Terminal is a web-based interface that allows you to key enter transactions taken by phone or by mail. The extensive reporting and functionality also help manage your transactions.
Does your gateway have recurring billing?
Yes, recurring billing comes with our gateway at no extra charge.
Does your payment gateway offer fraud protection to help avoid chargeback's?
We utilize AVS, CVV2, and IP Frequency Check to limit your exposure to fraudulent transactions.
What credit cards will I be able to accept?
We can set you up to be able to take all major credit and debit cards, including Visa®, MasterCard®, Discover®, American Express®, Diners®, and JCB®. Please inform your merchant account specialist which card types you would like to accept.
Why does American Express® send me a separate statement?
American Express® handles all their own issuing and payment processing.
Is there detailed reporting available?
Yes. You will receive a monthly paper statement showing detailed transaction information. There is also very detailed daily, weekly, monthly, and annually reporting available through your gateway/virtual terminal.
How do I receive payment from credit cards?
All funds are wire-transferred directly into your business checking account within approximately 48 hours using the Federal Reserve.
Do you have a solution for a low volume merchant?
Yes, contact our merchant account specialists for the details.
What if my credit is not very good?
It is usually not a problem. We approve 98% of our merchants. We are not locked into just one processing bank so we have several different banking relationships we can use to get you approved.
What if I need help with my terminal or gateway? Is there support?
Yes. You will have access to free customer service and support 24 hours a day, 7 days a week.
What setup fees do you charge for Internet transactions?
There are no setup fees or application fees. It will not cost you a penny to get started!
Do you have long-term leases for equipment?
No. Our goal is to provide you with top-notch service and credit card processing, not big profit margins on your equipment. We provide you with POS terminals at wholesale pricing so that you can spend your money on things like advertising to make your company grow.
Can I integrate my financial software with this merchant account to make managing my business easier?
Yes! Our payment gateway can be used with MonsterBooks® and QuickBooks® using a simple import and export feature.
How will my company name appear on my customers credit bill?
Your DBA (doing business as) name will appear on their credit bill along with your business telephone number. There are up to 25 characters available on a customer's credit card bill.
What is a chargeback?
A chargeback happens when a customer calls their credit card issuer directly to dispute a charge. Please note this is not a refund or a return but a disputed charge.
What if I don't live in the United States?
In order to set up a merchant account in the United States, you would need to have a U.S. residence, social security number, and domestic bank account.
What is PCI Compliance?
This is a set of criteria that Visa® and MasterCard® put in place in 2004 to safeguard cardholder information.
Can I use one merchant account for several different businesses?
No, Visa® and MasterCard® require each separate business to have its own separate merchant account.
If I have a friend that has a merchant account, can I use theirs instead of getting my own?
No, this is against the Visa®/MasterCard® rules and regulations. It's called "Factoring" or "Laundering".
