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Our FAQ section has been designed to put all the technical information you need about our payment solutions and services in one convenient place. If you have any more questions or need further assistance, don’t hesitate to contact our dedicated support team.
Account information
In-depth details on merchant accounts and merchant services, including debit and online debit card processing, are provided in this area.
Merchant account statements can be confusing, especially for those new to credit card processing. Common concerns often involve monthly fees and the timing of account statements. Typically, once a merchant account is approved, it becomes active within one business day, allowing credit card transactions to be processed immediately. From that point, any applicable fees begin to accrue, including monthly fees, which are charged in full each month the account is active, regardless of processing volume. These fees are generally debited from your bank account within the first week of the following month. A statement detailing the charges from the previous month’s processing is usually issued by mid-month. If you haven’t received your processing statement by the third week of the following month, it’s advisable to contact customer service to ensure your mailing address is correct. For any questions or concerns regarding your monthly fees or processing statements, please reach out to customer service.
Typically, a merchant account becomes active within one business day after approval. Once your account is live, you can start processing credit card transactions and will be responsible for any associated fees from that date. Monthly fees are charged in full for each month the account is open, regardless of the transaction volume. These fees are generally deducted from your bank account within the first week of the month following your account activation and continue monthly as long as the account remains active.
You will receive a statement detailing the charges for the previous month’s processing activity, usually around mid-month. If you do not receive this statement by the third week of the following month, contact customer service to ensure they have the correct mailing address from your merchant application. For any questions or concerns about your monthly fees or processing statement, please reach out to a customer service representative.
A merchant account is a specialized business bank account that enables a company to accept and process electronic payment card transactions. To manage these transactions, businesses must partner with a merchant acquiring bank, which handles all communications involved in the electronic payment process.
For online businesses, having a merchant account is crucial. However, these accounts come with additional costs, leading some physical stores to avoid them and instead only accept cash deposits into a standard business account. Merchant accounts are a specific kind of commercial bank account.
Merchant accounts are crucial for most businesses. When selecting a business bank for a merchant account, merchants have several options, with transaction costs being a significant factor in the decision. Merchant accounts are offered by merchant acquirers, who collaborate with merchants to enable electronic payments.
A brick-and-mortar business that only accepts cash payments might not need a merchant account and could simply use a basic deposit account at any bank.
However, online businesses must establish merchant account partnerships as electronic payments are the sole method for customers to make purchases.
To open a merchant account, you’ll need to have a registered business. Some banks might also require you to have a business checking account with them.
Typically, you’ll need to provide the following information:
- Company name
- Company tax ID or Employer Identification Number (EIN)
- Contact information
Additionally, you might be asked to share details about your business, including the products or services you offer, as well as your own name and Social Security number. Merchant acquiring banks conduct underwriting as part of the approval process for a merchant account, which may involve running a credit check.
The acquiring bank might also ask for supporting documents that verify your business’s registration, and possibly financial records such as transaction histories or tax returns.
A chargeback occurs when a cardholder disputes a transaction on their credit card account. This can happen for several reasons, such as unauthorized charges (fraud) or issues related to the delivery or quality of products or services.
To reduce the risk of chargebacks, prioritize delivering excellent customer service and ensure your products or services are accurately represented and delivered as promised.
When it comes to chargebacks related to fraud, there are several preventative steps you can take. It’s crucial for merchants to remain vigilant during transactions and to educate their staff on fraud prevention techniques.
For in-person transactions, follow these guidelines:
- Compare the signature on the receipt with the one on the back of the card.
- Inspect the card for any signs of tampering or suspicious activity.
- Request a photo ID, like a driver’s license.
For transactions where the customer isn’t physically present (such as phone or online orders), the risk of fraud-related chargebacks increases. Implement strategies to verify transaction legitimacy:
- Confirm the order if the billing and shipping addresses differ.
- Request the card’s security code (CVV) to ensure the customer has the card in their possession.
- Verify suspicious orders by directly contacting the cardholder.
- If you suspect a card might be fraudulent, contact the card issuer for voice authorization.
By following these practices, you can help reduce the chances of chargebacks and safeguard your business from potential losses.
Given the inherent risks involved in handling and transmitting sensitive data, it’s crucial to use a trusted payment processor for credit card transactions. In addition to securing your computers, terminals, and networks, there are several other security measures you can adopt to enhance protection. A reliable payment processor can provide detailed guidance on the best options available to you.
Not all debit card transactions are created equal! Merchants who use a PINPad with their credit card terminal can see significant savings with online debit card processing. The key difference is that “online” debit transactions require entering a 4-digit PIN and swiping the card, while “offline” transactions are processed like credit card transactions.
Online debit card processing can offer considerable cost benefits for merchants. Since the risk of fraud is lower with PIN-based transactions, online debit transactions generally come with lower fees. Merchants are usually charged a flat fee per transaction for PIN-based transactions, as opposed to a percentage-based discount rate plus a transaction fee for offline transactions. For example, if a merchant processes 100 debit card transactions per month with an average sale of $85, they could save over $100 per month or around $1,200 annually with online debit processing.
When selecting a credit card machine or software, consider factors such as transaction fees, ease of use, integration with your existing systems, security features, customer support, and whether the device or software supports the latest payment technologies like contactless payments.
Contactless payment solutions can speed up transactions, reduce physical contact (which is especially important for hygiene), and often improve customer satisfaction by making the payment process quicker and more convenient. They also tend to offer enhanced security features, reducing the risk of fraud.
Choosing between a credit card terminal and payment processing software for handling card transactions usually depends on your physical setup for accepting payments.
The decision often hinges on whether you have easy access to a computer when you need to process card payments and the type of transaction systems you already have.
If you have a computer readily available, payment processing software can offer several advantages over traditional credit card terminals. Users often appreciate the detailed reporting features, which allow them to review past transactions. Additionally, payment processing software tends to be more affordable and user-friendly compared to many new credit card terminals.
However, there are valid reasons why some businesses might prefer using a terminal. Many businesses have already invested in cash registers or POS systems, and while some of these can be integrated with payment processing software, many cannot. In such cases, using a credit card machine can help avoid cluttering your counter space.
Another scenario where a terminal might be more suitable is when your computer is not always on or is in an inconvenient location. If you need to process payments in real-time without the hassle of accessing a computer, a credit card terminal may be the better option.
Many credit card processing solutions offer integration options with popular point-of-sale (POS) systems, e-commerce platforms, and accounting software. It’s important to choose a provider that offers seamless integration to streamline your operations and reduce manual data entry.
Look for features such as encryption, tokenization, compliance with PCI-DSS standards, and fraud detection tools. These features help protect sensitive payment information and reduce the risk of data breaches.
Selecting the right credit card equipment for your business involves considering several key factors. Start by assessing your specific business needs, including where and how you will accept payments—whether in a physical store, online, or on the go. This will help you determine whether a traditional point-of-sale (POS) terminal, a mobile card reader, or an online payment gateway is most suitable.
Next, consider compatibility. Make sure the equipment you choose works seamlessly with your existing systems, such as POS software, e-commerce platforms, or accounting software. This ensures smoother operations and reduces the likelihood of technical issues. Also, check that the equipment supports a variety of payment methods, including credit and debit cards, contactless payments, and mobile wallets like Apple Pay and Google Pay.
Security is another essential factor. Choose equipment that complies with the Payment Card Industry Data Security Standard (PCI DSS) to ensure secure handling of cardholder information. Look for features like encryption and tokenization to protect sensitive data from fraud and breaches.
Consider the features and functionality of different equipment options. Think about ease of use, transaction speed, reliability, and additional capabilities like inventory management or customer relationship management (CRM). It’s also important to evaluate the scalability of the equipment, ensuring it can grow with your business and accommodate a higher volume of transactions or new payment methods as your business expands.
Cost is also a crucial consideration. Examine the pricing structure, including initial costs for purchasing or leasing the equipment and ongoing fees such as transaction fees, maintenance charges, or software subscription costs. Ensure the costs align with your budget while still meeting your business needs.
Customer support is critical for addressing any issues that might arise with the equipment. Opt for a provider that offers dependable and accessible support, including technical assistance and troubleshooting.
Research user reviews and the reputation of the equipment provider. Look for feedback on reliability, ease of use, customer service, and overall satisfaction from other businesses that have used the equipment.
Finally, if possible, take advantage of free trials or demos to test the equipment in your business environment. This hands-on experience can help you make a well-informed decision.
By thoroughly evaluating these factors, you can select the credit card equipment that best suits your business needs and enhances your payment processing capabilities.
Contactless payment terminals are point-of-sale (POS) devices that enable customers to make payments without the need to physically swipe, insert, or tap their credit or debit cards into the terminal. Instead, these terminals utilize wireless technologies like Near Field Communication (NFC) or Radio Frequency Identification (RFID) to process transactions.
How They Work:
NFC Technology: Most contactless payment terminals rely on NFC, allowing communication between the payment terminal and a contactless card or mobile device. When a customer places their card or device near the terminal, the two devices wirelessly communicate to complete the transaction.
RFID Technology: Some terminals use RFID, which functions similarly to NFC but typically has a longer range. RFID facilitates wireless communication between the terminal and the payment card or device.
Features:
Speed and Convenience: Contactless payments are quicker than traditional card swipes or insertions, as they don’t require physical contact. This accelerates the checkout process and enhances customer satisfaction.
Security: Contactless payments often employ tokenization, which replaces card details with a unique transaction code valid for a single purchase. This minimizes the risk of card information being intercepted or stolen.
Ease of Use: Customers simply need to hold their card or mobile device near the terminal, making it convenient for quick transactions and reducing the need for physical contact.
Applications:
Retail: Widely used in retail settings for fast and efficient payment processing.
Public Transport: Commonly used in transit systems for quick fare payments.
Restaurants and Cafes: Helps speed up the payment process, especially in busy environments.
Overall, contactless payment terminals offer a modern and efficient way to handle transactions, improving the customer experience and streamlining the payment process for businesses associated with Mecca Payment.
Payment Processing
You will find all the information you need to help you make the best choice possible for your credit card processing technology needs in this section. We offer advice on a range of subjects, such as selecting the best credit card readers or credit card software for your company and the newest developments in merchant accounts and technology, like contactless payment options.
Merchant Surcharge
A surcharge is an extra fee that a merchant applies to a customer’s bill for using a specific payment method.
In most U.S. states and territories, merchants are permitted to add a surcharge to credit card transactions, though certain limitations apply, such as the type of card used and the location of the merchant outlet. Merchants who decide to impose a surcharge must adhere to all of Visa’s requirements, including displaying consumer disclosures and complying with product restriction criteria.
For an accurate answer, it’s essential to consult a lawyer or a qualified legal professional, as Visa cannot offer legal advice. However, Visa is aware that certain state laws restrict or limit surcharging by merchants. For instance, as of February 15, 2024, Visa understands that surcharging is prohibited in Connecticut, Maine, Massachusetts, Oklahoma, and Puerto Rico. Additionally, Colorado, Minnesota, New Jersey, and New York have specific requirements for surcharging. It’s important to note that Visa’s understanding might contain errors or inaccuracies, and should not be considered authoritative information or legal advice.
Yes, Visa is actively enforcing its surcharge policy as outlined in the Visa Core Rules and Visa Product and Services Rules, as well as applicable state laws. Visa receives numerous consumer complaints and conducts annual mystery shopping audits by external auditors. Acquirers of merchants found violating Visa’s rules may face fines, with any acquirer of a merchant improperly surcharging potentially being hit with an immediate $1,000 fine.
No. The cardholder is still using a Visa debit card. The option to select a ‘credit or debit’ refers to the cardholder selecting either a signature-based transaction or a PIN-based transaction.
Visa’s guidelines permit merchants to offer a discount or incentive for customers to pay using a method other than their Visa card, commonly referred to as a “discount offer” or “cash discount.” However, merchants must adhere to specific pricing display rules:
- Display only the card price for each item.
- Or, display both the card and cash prices side-by-side for each item.
Additionally, when the cardholder is given their final bill, the total price to be paid by card must be shown in full, based on the total of the listed items. This amount should not be calculated by adding an extra fee for card payments, as this could be perceived as a surcharge and would then fall under Visa’s surcharge regulations.
Yes, however merchants typically must surcharge Visa on the same terms and conditions as any equal or higher cost competitor that imposes limits on surcharging.
The rules discussed here regarding credit card surcharging are applicable only to transactions made within the U.S. and its territories. Outside the U.S., surcharging is generally not allowed, with a few specific exceptions. For more details, please refer to the Visa Core Rules and Visa Product and Service Rules.
In the U.S., merchants can choose to add a surcharge to all Visa credit card transactions at the “brand level” or only to transactions on specific types of Visa credit cards at the “product level” (such as Visa Traditional, Visa Traditional Rewards, or Visa Signature), but they cannot apply surcharges at both levels simultaneously.
Surcharge Information
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