Can I use my merchant account on multiple sites?
Yes, but we
don't recommend it. You will find that by accepting a charge on
another site which operates under another name (other than the
one your merchant account was issued under), that your chances
of a chargeback is increased dramatically. This costs you a lot
more money than if you have us issue you another account. The
chargeback comes from the customer claiming not to recognize the
name of company putting the charge through (you). We can
eventually sort these problems out, but it still cost you the
$15.00 chargeback fee and it takes nearly 6 months to retrieve
your funds after a chargeback. Give us a call and we can tailor
a program for you for not much more than one account.
If I have a bad credit rating, is that a problem?
We do issue
merchant accounts to merchants with past credit problems.
Although your credit history will be one consideration when
applying for a merchant account, it's not the only
consideration. Banks are also interested in the type of business
you have, your average ticket and your monthly sales volume. The
only stipulation is, that we limit the amount of card charges
you may accept during any calendar month. We will however review
your account history after the first 3-months and consider
raising the allowable limit up satisfactory review.
How long
does the approval process take?
Once the paper work is completed and submitted, it
usually takes about 3 to 5 business days.
Is WebTransact's system integrated with my
shopping cart for Internet business?
Yes. At FWHN you can use either StoreFrontNow, StoreFront
5.0 or
Miva shopping carts, which all work with Authorize.Net for a payment
gateway (live credit card processing) that WebTransact supports.
Are my funds guaranteed?
Banks do
not insure a merchants transactions against fraud or chargebacks.
Customers have the
right to dispute a credit card charge from the card's issuing
bank. If a charge is challenged, a request will be sent to the
merchant asking for proof that a sale had been made by the
customer. In addition, the merchant's credit card processor has
the right to discontinue service for many reasons. And finally,
a merchant should take due diligence to protect against someone
trying to order merchandise with stolen cards by becoming
familiar with the process,
and the warning signs for potential fraudulent transactions.
What is
Address Verification Service?
AVS is a
service built into the authorization process helping to prevent
fraudulent transactions. The consumer's address is sent along
with the transaction data and is matched against the address
registered with the credit card issuing bank. A response code is
sent back with the approval (or decline) message that indicates
a match or not. Currently, a match or mismatch is simply
reported back to the merchant and does NOT result in a
transaction decline. The merchant then has the option to contact
their customer to confirm the correct address before they ship
any goods.
Can I get a merchant account from my local bank?
Most banks are not willing to work with new or
startup businesses, smaller businesses (especially home based,
mail order, telephone order, and Internet). Unlike most banks,
we want your business. WebTransact is one of the fastest
growing merchant account providers and bankcard processors in
the country, and we continue to grow, one merchant at a time.
You will probably also find that the cost to get you started is
going to be much less with WebTransact than your local bank.
What cards can I accept?
When your account is
issued through WebTransact (InstaMerchant), it allows you to
accept MasterCard, Visa and American Express transactions. All
other major credit cards, including Discover and Diners Club,
can be added to the system free of charge at any time.
WebTransact will also assist you in seeking these approvals.
What type
of businesses will you accept?
We accept most legitimate businesses. Virtually all
retail businesses, mail order, telephone order, Internet-based,
and home based businesses. There are some business types we
cannot accept such as adult and gambling.
Why am I
asked for an average sale amount?
Banks have procedures to evaluate a merchant's
processing trends. For security and fraud control purposes, if a
sale is well over the projected average ticket amount, our
Security Department may call the merchant or credit card
customer to verify the sale's legitimacy.
What are discount rates?
Every bank
charges a fee (discount rate) to merchants that accept credit
cards. Discount rates are the percentage of each transaction
that the bank charges to handle the transaction. The rate is
calculated by multiplying the discount rate times the amount of
each transaction. Take your discount rate of 2.20% and a
transaction of $50. The fee paid to the bank would be $50 x
2.20% = $1.10.
Is the discount rate for retail card sales the same for
Telephone or Internet sales?
No. Retail credit card sales require a customers
card to be present at the time of the sale, in order for the
merchant to swipe the card through a card terminal for approval.
Merchants who conduct this type of business qualify for the
lowest discount rate from the bank. When you see low rates
advertised, it is usually for face-to-face retail sales.
Telephone, Mail Order and Internet businesses are charged a
higher discount rate due to the increased risk associated with
this type of transaction. The likelihood of fraudulent activity
increases if a card is not present at the time of a sale.
What are
transaction fees?
All banks
charge a transaction fee in addition to the discount rate. In
most cases, retail merchants (card present for swiping) has a
fee of .20 cents. Internet merchants are normally charged .30
cents per transaction.
What other charges besides my discount rate are there?
Fees
How
soon do I get my money after a transaction?
Your money is
deposited directly to the business or personal checking account
you designate on the merchant account application. You do not
need a special bank account! The money from your credit card
sales will be deposited normally within two to three business
days.
What about "lower rates" I see on the Internet?
There are many deceptive practices employed on the
Internet, by agents who intentionally withhold information from
their customers. We receive calls daily from merchants who have
been duped into ordering merchant accounts at low rates, then
not knowing what has happened, find a contract which they can't
break for many years, to be at a much higher rate than promised.
The only suggestion we have for you, is GET IT IN WRITING, and
make sure you understand what you are going to sign! We do not
and will not play this game with you. You have our word on that.
We will provide you with a contract that guarantees your rate!
The only time your rate can increase during the contract period,
is if Visa or MasterCard raise their transaction rates. Should
this occur, your rate will be raised by the increased amount
only.
Is there an
application fee?
No! You may
have seen other merchant service providers charging $75.00 to
$150.00, just to look at your application. With WebTransact, you
pay NO Application Fee. And unlike many other services we
have NO Setup Fee. The $149.95 initial fee you pay us, is
actually a license fee for AuthorizeNet, your transaction
processing provider.
Are
WebTransact's prices competitive?
Absolutely! A
major indicator of our low costs, especially for Internet
merchants, is the fact that we do not offer leasing. Many
merchant providers want you to sign a 48-month lease at anywhere
from $19.95 to $49 monthly. Multiply $19.95 times 48-months. It
will cost you $958 for the same type of program we charge
$149.95. Our program is designed to provide you with the best
deal available.
What types of equipment or software interfaces might I need?
Nothing special! We provide you with the
integrated interface compatible (Authorize.Net), embedded into
most shopping carts on the market. You are not required to
physically install software on your home or business computer.
It only requires you to enter your LOGIN I.D. issued by us into
the shopping cart software. Once that is complete, you are live
and accepting credit cards from your web site. It's that simple!
Is there a 24 hour telephone number if I need help?
We provide
you a 24-hour 7-day on-line service, which you can chat directly
with one of our customer support representatives. Additionally,
we have a toll-free customer service number to help you handle
any problems or questions not handled online.
Will I receive a
statement?
Yes. A
monthly statement is mailed from IRN with information on all
deposits to your account, your total Sales volume, and
transaction fees for the month.
What company name will appear on my customers' billing
statement?
This is a very important point many
merchants don't usually consider. Unlike processing services,
YOUR company name and telephone number appears on your
customers' billing statements. That way, if your customers have
any questions, they can call you directly. Your company name on
the customer's billing statement also provides your company with
additional credibility.
How do I apply?
Complete our online
Merchant
Application
form!
You are required to pay for
the account prior to our processing. In the unlikely event you
are declined, 100% of the funds paid are refunded. Select the
method of payment for the program you have selected, and follow
the instructions. Once payment confirmation is received at our
processing center, you will receive an e-mail with instructions
for completing the application process.
What documents will I need to send with my application?
