Merchant Account - Credit Card Processing
Whether you accept credit and debit cards online, in-store, or through a mobile device, you need a merchant account to process payments. A merchant account is a type of bank account that receives and authorizes your customer’s card information and purchase amount. Once authorized, these funds are transferred into your regular checking account.
We have established relationships with many banks and processors both domestically and internationally that provide merchant accounts in order to get you the best rates for your credit card transactions. We’ve streamlined the application and underwriting process so your merchant account should be active within five business days of your applying.
Why not use a quick setup service like PayPal, Square, or Stripe?
These type of accounts are called "Pooled Accounts". Your business transactions are thrown in the pool with all their other customers. If there is a problem with one of your transactions your account is usually frozen or put on hold along with your deposits until the issue is resolved or up to 180 days. With your own merchant account your transactions keep flowing and we work together with you to resolve the issue.
How long does it take to setup?
Most accounts take 3-5 business days to setup with the banks and processors. High Risk accounts may take longer depending on which processor you are setup with and your type of business.
How much are the processing fees?
We have different advanced processing capabilities. What this means is you may choose to pass processing fees onto your customers or cover the fees yourself. Our fees avarage 2% or less for most low and medium risk businesses. Our experience typically results in an effective rate between 1.5% and 2.2% for our customers. Most charge 3% so we put an extra 1% in your pocket. Contact us to find out more.
How long does it take to receive deposits?
The money from your transactions will be deposited in your account within 48 hours 99.8% of the time, and your Friday and Saturday deposits will be in your account on Monday.
Quick Service Response to Eliminate Signatures for Small Transactions
This feature is perfect for fast-paced retail stores who process lots of small transactions. For quick checkouts, enable this option on your merchant account and eliminate the need for signatures on transactions under $25. Swipe their card and hand them their receipt. It couldn’t be easier!
Electronic Benefits Transfer to Accept Government Benefit Payments
Electronic Benefit Transfer (EBT) is an electronic system in the United States that allows government’s states benefits departments to issue money, accessible via a plastic debit card. This service is often used by grocery stores and restaurants.
Common benefits (in the United States) provided via EBT are typically of two general categories: Food and cash benefits. Food benefits are federally authorized benefits that can be used only to purchase food and non-alcoholic beverages. Food benefits are distributed through the Supplemental Nutrition Assistance Program (SNAP), formerly the Food Stamp Program. Cash benefits include state general assistance, Temporary Assistance for Needy Families (TANF) benefits and refugee benefits.
Through EBT, a recipient uses his/her EBT card to make purchases at participating retailers. Food-stamp benefits can only be used to purchase food items authorized by the USDA’s SNAP program. Cash benefits may be used to purchase any item at a participating retailer, as well as to obtain cash-back or make a cash withdrawal from a participating ATM. State agencies work with contractors to procure their own EBT systems for delivery of SNAP and other state-administered benefit programs. In the United States, all SNAP benefits are now being issued via EBT.