FREQUENTLY ASKED QUESTIONS

What is shopping cart technology?
Shopping cart enabled allows your website to go from an information only site, to a site where products and or services can be sold. These products and or services can be sold through seamless integration. Our support team will be happy to help you in this process.

What credit cards can I accept?
You will be able to accept all five (5) major credit cards, including Visa, MasterCard, American Express, Discover and Diners. A separate application is required for American Express. We will be happy to help fill out this application for you.

What is a discount rate?
Every bank charges a discount rate. It is the percentage of each transaction that the processor charges for handling the dollar settlement of each transaction that goes back to the merchant. There are different discount rates for different card types and different merchant types.

What is a reserve account and why would I be asked to establish one?
In lieu of establishing an up front reserve account, the processing bank may request a rolling reserve for higher risk merchants. This reserve amount is usually around 5% of the daily processing volume and is maintained for the benefit of both the merchant and the bank. Funds are generally released around 180 days, first-in, first-out, minus any unpaid chargebacks.

What if I have less than perfect credit?
Almost everyone has had credit problems at one time or another. We will be happy to discuss alternatives to help you establish your merchant account, i.e. co-signor, reserve account etc.

Is there a site inspection?
If you are a traditional merchant yes, you will need to supply us with your physical location. However, if you are an Internet merchant, we will need your established and operating URL.

Will I receive a statement?
Yes, you will receive a monthly statement summarizing your deposits and charges. If you are using our Gateway or merchant viewer services, you will be able to look at your transactions and batch deposits daily.

What if I have my own terminal or software program?
In most cases we are able to utilize existing terminals and software. A Online Money Store's representative would be happy to discuss all processing options available.

What if I am turned down?
Our approval rates exceed 95%, so it is unlikely that we will not be able to find a solution.