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Merchant Account Information
Merchant Services are what you need to accept and process credit cards from your website. There are many steps involved in accepting credit cards because of the many interested parties. Transactions involve your customer, your customer's bank, your customer's credit card issuer and your bank.
- Cardservice International
Cardservice International is the largest independent credit card processing company in the country with over 12 years of experience, specializing in serving non-traditional merchants, such as new, Internet-based companies, home-based, and phone order/mail order businesses. Unlike other traditional merchant account providers, Cardservice is able to establish merchant accounts for business owners who may have less-than-perfect credit. Cardservice has over 150,000+ merchants online and processes over $6+ billion in credit card transactions every year. Cardservice International is committed to providing the very best service in the transaction processing industry.
- Advantages of working with Cardservice International include:
Single source for ecommerce software, service and support
- On-line merchant application and 98% approval rate
- Fully integrated secure payment gateway
- Scalable modules allow tailoring to any level of service
- 24-hour customer service, 7 days a week, 365 days a year
- Funds are deposited within 24 to 48 hours of transaction approval
- Robust sales management tools and reports
- No Long Term Lease
- Pre approved merchant accounts for up to $30,000 per month
- Merchant Services Terms & Definitions
- Application & Set up Fee
Initial fee paid to merchant service provider for establishment of account, processing and reporting tools & capabilities.
- Discount Rate
The percentage of the transaction that the merchant is charged by the merchant service provider for facilitating a credit card transaction.
Example: ( 2.53% of $100 = $2.53 )
- Transaction Fee
Small charge paid to the "processing network" (e.g., Visa/MasterCard) for use of their system, for each transaction processed.
Example: ( 2.53% of $100 = $2.53 + .30 cents for the transaction = $2.83 )
- Minimum Monthly Fee
Merchants pay for credit card service on a per transaction basis, through a combination of transaction fees and discount rate charges. Generally, based on normal business volume, these transaction-related charges cover the minimum monthly fee.
Example: ( 2.53% of $100 = $2.53 Minimum is $15 - $2.53 = $12.47 )
- Monthly Service & Statement Fee
Monthly service charge paid to merchant service providers for statement preparation, reports and 24x7 technical support.
- Monthly Gateway Fee
A monthly service fee charged for using secured processing fiber-optic lines to complete transactions immediately in encrypted, protected code.
- Application & Set up Fee