FAQ's About Merchant Services

FAQ's About Merchant Services

1) Why do i need to fill out the application? 

You need to fill it out to be approved for processing and to be secure in the process of taking payments. The processor sets up your account based on accurately provided details and with the proper set up you will never have any risk in taking payments.

2) Why am I asked for my personal data in the application form?

 We are working with multiple processors in order to provide the best rate possible, and these are their requirements to assess whether they can approve or disapprove your account and also provide you with the best rate possible.

3) Why is my SSN needed?

The SSN is mandatory in the process of approval of your merchant account, and it is always required by processor. If it is not - then you are at risk with such a company in any payment operations.

4) What is Flat Rate?

Flat Rate means that your fee for ANY type of transaction is always flat, in our case it is 2.5% + $0.10, and it never varies with usage.

5) What is Interchange Plus 0.45%? How much will you charge me?

The Interchange Plus program works best for small to medium businesses, because if the majority of cards you will accept will be Visa/Mastercard with highest fee usually 1.4%, the total fee per transaction for you will be 1.85% + $0.10.
E.G.: you charge $10, your fee will be $10 * 1.85% + $0.10 = $0.28.

6) What is DBA?

Doing Business as Name / address that means that if the legal name / address of the business is different from the name / address where you do business, you need to indicate it in application form under DBA.

7) What is MKI?

Manually Keyed In transactions, where you don't have a physical card, but you enter the card number, expiry date and CVV code manually, and then charge the card. Fees for MKI transactions are always higher comparing to Face2Face, and they are usually around 3.5% + $0.15.








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