1. What is a merchant account?

An electronic merchant account, also known as electronic merchant services (EMS), is a dominating premier service in the segment of merchant payment handling. It is a custom-fit assistant, allowing you to authorize, accept, and administer a wide range of card transactions and as long as the payer has an internet connection and a webpage that can be opened. Then they can pay with credit, debit or EBT card handling, choose electronic check alteration and even have the luxury of gift cards. In simpler terms, a merchant account is a service online that provides a gateway for credit card transactions for a website or business. These services also provide point-of-sale terminal equipment for on the spot credit card transactions. This equipment is like a card swiper terminal, receipt printer, etc... Check out this article for more information >> Click Here

2. How long does it take to set up a new credit card processing account?

It can take as little as 24 hours, up to a few weeks depending on the riskiness of the account and whether the account is national or international. The process is usually very fast for the majority of customers.

3. How long does it take for funds received by the merchant to transfer into my account?

Usually, funds will be in your checking account from the merchant in 2-3 business days.

4. What are Chargebacks?

A Chargeback is when money is taken out of your account instead of added to it. This can occur because of double charging, credit card expiration, bank error, disputes from customers, or a variety of other reasons.

5. How many types of credit cards can I accept with a merchant account?

This all depends on the merchant you choose, and the list of credit cards that they accept. Check this detail before signing up with a merchant to ensure that you can accept the kinds of credit cards you need to accept.

6. What does P.O.S stand for?

P.O.S stands for Point of Sale. It refers to physical credit card transactions in which the card is swiped at the point of sale rather than taken as a number online.

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