Look here first for the answers to the most Frequently Asked Questions about credit card merchant services.
What is a merchant account?
A merchant account is a special account that allows your business to accept credit cards as payment. You can choose from telephone credit card processing, online payment services, wireless credit card machines and a large variety of point of sale systems and software. You must have a merchant account if you want to be able to accept credit cards from your customers.
How long does it take to apply for a merchant account and get started?
We’ll contact you within 24 hours with your merchant account number and you can begin to accept credit card payments immediately.
How much will it cost to get a merchant account?
If you qualify, you can be accepting credit cards without laying out a cent.
- Complimentary credit card terminal while we are your payment processor
- Complimentary Point of Sale software for the duration of your contract with us
- Free terminal paper
- No application fee
- Free setup
- No annual fees
- 6-month nrial, no contract
What is an acquiring bank?
An acquiring bank is the bank that holds your credit card merchant account. It is also the bank that transfers funds from your merchant account into your local bank accounts.
How do I apply for a merchant account and a payment gateway?
It’s easy to establish a merchant account with ABC. You can submit an application online, by fax, or by phone. Your application will be approved almost immediately, your merchant service account will be activated, and, if you’re buying or leasing new credit card processing software or a point of sale system, it will arrive in just days.
Will I be able to accept all major credit cards?
You’ll be able to accept credit cards from Visa, MasterCard, Discover, American Express and Diners Club/Carte Blanche. In addition, our bank card services will allow you to accept debit cards that carry a Visa or MasterCard logo, purchase cards, and online checks.
What is the discount rate?
The discount rate is one of the processing fees charged to your merchant account for credit services. It is a percentage of your gross sales.
What is the “per transaction” fee?
The “per transaction fee” is a nominal charge for processing each transaction through your merchant account provider.
What is a charge back?
Charge backs occur when a credit card holder informs the credit card company that the charge was not authorized, or that goods or services were not delivered as promised. ABC along with its credit card processors uses a state-of-the-art fraud screening system to help protect you from fraudulent charges. If a customer claims that you did not deliver the goods or services for which they paid, you’ll have seven days to provide evidence that the goods or services were received before the credit card payment will be reversed and credited to the cardholder’s account.
How often will I receive funds from ABC Global Systems?
ABC will transfer funds received via credit card payments from your merchant account to any checking account you designate on a daily basis. Payments can be processed to your bank accounts as soon as 48 hours later.Â However we will provide you with a more specific time frame upon reviewing your claim.
What type of payment processing equipment do I need to accept credit cards?
If you have a retail storefront, restaurant, hotel, or service business you can use a hard-wired credit card machine, wireless credit card machine, point-of-sale (POS) credit card terminal or a virtual credit card processor consisting of a personal computer equipped with credit card processing software. We have a large selection of credit card machines for small business and for large corporations as well.
If you are a virtual merchant, with an internet-based business, or a telephone order or mail order business, you can set up an online merchant account using a virtual terminal with or without separate telephone credit card processing capabilities. With a virtual credit card processor, you do not need to load any software onto your computer. Since this is internet-based software, you simply need access to the internet for your online credit card processing. Other options include using credit card processing software which you can load onto your computer for virtual credit card processing. Authorizations are obtained by accessing the credit card processor with your computer modem. Or, you can hand enter (key in) data into a point of sale (POS) credit card terminal to accept credit cards online.
Why is ABC Global Systems the best choice among all merchant account providers?
ABC provides the best merchant account available with competitive rates, world class customer service, fast and easy enrollment and the largest selection of credit card processing systems. We provide world class customer service via telephone 24 hours per day, seven days a week. Our representatives will help you with questions about transfers of money into your designated bank accounts, monthly statements, charge-back and retrieval requests, and other issues related to all aspects of payment processing that face merchant account holders every day.
What is a payment gateway?
A payment gateway links your web site to the credit card processing companies and your merchant account. When your customer uses the online credit card processing form on your web site, the payment gateway obtains authorization for the charge and later handles the transfer of funds into your merchant account. ABC works with the industry’s most widely used and reliable payment gateways including the TotalPay powered by Authorize.Net, Plug N Pay, and VeriSign Payment Systems.