1. Do you have a termination/cancellation fee?
No. We utilize special programs with our platforms that allow us to have no cancel fees. Sometimes the language is built-in to the contract, while other times you will see an addendum with your application paperwork.
2. Do you offer tiered rates, or “enhanced billback rates?”
No. These rate structures only serve to pad the profits of the credit card processor, and confuse the merchant. We advise you to STAY AWAY from these rate structures. We offer Interchange Based Rates. Sometimes we use a Flat Rate Program as well.
3. How does the Ad-Transact system work?
When you accept credit cards, our system logs in the volume of the transaction, and the total transactions for the month. We run our algorithm, and it calculates and generates free local ads, usually via Facebook Ads. We work with you to create the ad beforehand. We utilize special real time bidding software and ad creation software to maximize your reach. NO cardholder data is used in this system. This is NOT a cardholder data loyalty program. (However, we do have these, if you wish to add even more functionality to your merchant services!)
4. What is PCI?
PCI compliance is a level of merchant confirmed credit card security practices, and sometimes even network scans, that the card associations and issuing banks have mandated. Most merchants simply will complete an annual online questionnaire to keep up their compliance. Make sure you do this to avoid any penalty fees!
5. How long is the application process?
Typically 4-5 business days. If we need to provide a terminal as well, please allow a few more days for ordering, programming and shipping.
6. How long does funding take?
For retail stores/restaurants/auto service – typically next day funding. For any mail order, internet, etc., 2 business days is standard.
7. How is the switch-over process handled (especially with existing POS)?
You will not have any down time! We aim to make switching your cardservices as simple as possible. Once the merchant application is approved, we will program a standard terminal for your account. If this is all you need, you will simply begin using the terminal. If you have a POS system or POS Tablets, we will then work on the admin area of your software to input the new merchant account credentials. You will have the terminal as a backup.
With ECommerce businesses, we will provide your technical contact with the new gateway information, and they will update your cart with the new merchant credentials.