Merchant Accounts - What are they and how do they work?

Truth in Processing (TIP) Accounts

Merchant Accounts

What is a Credit Card Merchant Account?
A Merchant Account is an account that is constructed for you by an Independent Sales Office (ISO) of a Credit Card Merchant Account Processing Bank that provides the electronic system that holds/captures money generated by credit/debit card sales/authorizations.

What is a Credit Card Merchant Account Average Ticket?
Every credit card merchant account processor in America is ruled and governed by Visa USA. Meaning, all credit card merchant account processors must abide by Visa's credit card merchant account rules. All credit card merchant account applications in America are required by Visa to ask the credit card merchant account average ticket size in dollars. If a credit card merchant account transaction of a larger amount than the stated average batches through your credit card merchant account system, a red flag is automatically sent to Risk Management, the credit card merchant account fraud detection team. This red flag triggers a look at your webstore by Risk Management. If you have added products/services that are unrelated to the products initially approved by our credit card merchant account Underwriting department, your credit card merchant account may be suspended until the additional products are approved. We recommend that you call or email our credit card merchant account office before you add new products to your webstore.

You may be able to avoid the red flag if you call Credit Card Merchant Account Technical Support before your daily credit card merchant account batch settlement to let them know that you have credit card merchant account transactions that are higher than your average stated amount that will batch through your credit card merchant account system today. Ask them for permission to let them batch through the credit card merchant account system. They should then green flag your credit card merchant account for the day which will eliminate the red flag to Risk. If you have credit card merchant account transactions everyday that are too high, you can request a credit card merchant account ticket increase. For instructions on how to increase your credit card merchant account ticket size CONTACT US.

What is a Credit Card Merchant Account charge back?
A credit card merchant account charge back is when your customer feels it necessary to take steps to force you to return/credit their money back onto their credit card. The customer must contact their card company and request credit card merchant account "charge-back" documents. The customer completes and returns the credit card merchant account documents which consists of their side of the story. The customer's card company then notifies us (FNP) that a credit card merchant account charge back is in progress. We then send you credit card merchant account charge back documents which you must complete and return. Once both stories are returned, Visa, the customer's card company, and FNP become judge and jury. If you, the credit card merchant account holder, have conducted your credit card merchant account business properly from A to Z, the credit card merchant account transaction will be ruled as complete, proper, and finished. If you have not conducted your credit card merchant account business properly, the funds will be returned to the customer, your products will be returned to you, and you will suffer a $35 credit card merchant account charge back penalty.

What is a credit card merchant account credit/return?
A credit card merchant account credit/return is when you feel it necessary for any reason you choose, to return money to your customer's credit card via your credit card merchant account payment/credit system.

What is Credit Card Merchant Account AVS?
"Address Verification Service" is a USA based credit card merchant account data file that consists of all credit card numbers that have been reported missing/stolen. Authorize.net will reference this data file in the midst of every transaction to see if the credit card number being used in said credit card merchant account transaction is in this file. If the number is in the file, use of said credit card will be denied. We emphasize that this is a USA based software. Credit cards that are issued by Foreign Banks will not be in this stolen/missing credit card file. If you choose to accept foreign credit cards, we highly recommend that you choose to our Credit Card Merchant Account Fraud Detection Suite for the maximum fraud protection.

NOTE: Credit cards issued by American Banks will be automatically filtered through the "Address Verification System" during the actual credit card merchant account transaction approval process. AVS will protect your business against accepting fraudulent American credit cards. But, there is no automatic fraud protection for cards issued by Foreign Banks. If you wish to maximize your profits by exposing your business to the entire world, protect yourself and your business with our Credit Card Merchant Account "Fraud Detection Suite".

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TIP Accounts 

What is FNP's Credit Card Merchant Account approval rating?
Less than one-half of 1% of all businesses that have applied for a credit card merchant account through TIP have been declined. Your business need not have any established credit. Credit Card Merchant Account approval is based firstly on the type of products and/or services you intend to offer, and secondly on your personal credit rating. You need not have stellar credit to qualify for the Credit Card Merchant Account. Your credit report must only display obvious desire/effort to pay your lenders in a timely fashion. If your credit report is less than average, we may ask for a co-signer to support you and your credit card merchant account. The co-signer for your Credit Card Merchant Account need not be a partner in your business. They must only be willing to stand beside you with their support vouching that you will operate your merchant account with the utmost integrity. The Credit Card Merchant Account co-signer's liability will be to pay any funds that are owed by you as a result of your Credit Card Merchant Account Processing activity that you may have failed, or refused, to pay to us (TIP).

Here are some example situations where a Credit Card Merchant Account co-signer may be needed:

1. If you are in an OPEN bankruptcy. "OPEN" meaning not yet discharged.
2. If you have no credit established at all.
3. If more than 80% of the accounts showing on your credit report are delinquent.

What is TIP's monthly Visa Mastercard Credit Card Merchant Account processing limit?
We actually have no credit card merchant account dollar volume limit, but we do have some credit card merchant account monthly dollar volume rules. If you wish to ask for $18K per month in credit card merchant account processing volume, or more, to start, we will ask for one or all of the following:

1. Business financials
2. Personal banking statements
3. Previous credit card merchant account credit card processing statements showing comparable credit card merchant account volume
4. An advertising campaign plan that may point to creating such credit card merchant account dollar volume

It is your job to watch your credit card merchant account monthly dollar volume closely. You must request a credit card merchant account dollar volume increase before you actually go over your approved credit card merchant account dollar volume amount. Do not go over your allowed monthly credit card merchant account dollar volume. For instructions to easily increase your credit card merchant account monthly dollar volume amount, please CONTACT US.

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Third Party Accounts  

What is a Paypal Credit Card Merchant Account?
This is what is called a third party credit card merchant account processor, or a master merchant account. Paypal has setup a Master Credit Card Merchant Account with Visa and will let you use their credit card merchant account for a fee. The attraction is that Paypal is a membership based credit card merchant account payment program. The idea is that if you become a member, hopefully, the other members will buy from you and you will buy from them. This is a very good "keep it in the family" networking idea/program. We recommend that you use the Paypal master credit card merchant account IN ADDITION TO our credit card merchant account services. We recommend both credit card merchant account systems because just using Paypal HAS NOT PROVEN to be a very good idea for non-members. The regular non-membership paying population of the world, meaning people that are NOT Paypal credit card merchant account members, will not tolerate paying for your products/services through the Paypal credit card merchant account system. Reason being is that Paypal solicits every person that pays via their credit card merchant account payment system. The solicitation takes a very long time and occurs before you are given opportunity to actually pay for the products you have chosen to buy. So................you wait and wait and wait forever to Pay the Pal ! FACTS!!!-----> The definition of "IMPULSE" : a force so communicated as to produce motion/action suddenly. Fact: IF YOU OFFER ONLY THE PAYPAL SYSTEM, 88% OF YOUR VISITING NON-PAYPAL MEMBERS WILL GO TO ANOTHER WEB STORE TO BUY THE SAME PRODUCTS THEY WERE ATTEMPTING TO BUY FROM YOU!! STATISTICS SHOW THAT PEOPLE WILL NOT WAIT.

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Account Questions

If I return credit card merchant account money to a customer's card, am I charged any credit card merchant account fees?
Yes...this is also a credit card merchant account transaction. You will be charged the same credit card merchant account fees to reverse the money as you were charged to collect the credit card merchant account money.

Must I have a "Business" checking or savings in order to open a credit card merchant account?
Visa International requires that all funds generated by credit card merchant account transactions be transferred into a Business Account. You may not use a personal checking or savings account with a credit card merchant account.

What do I do if I have an unusually large credit card merchant account transaction?
Call credit card merchant account Customer Service and ask permission that these credit card merchant account transactions be a part of the batch that day.

What do I do if I am about to go over my monthly credit card merchant account dollar volume limit?
Simply call our office for credit card merchant account guidance 866-553-8205 or email support@tiprocessing.com

Should I tell anyone if I add new products to my store?
Please call 866-553-8205 or email support@tiprocessing.com 

What is a credit card merchant account batch settlement?
If you have chosen to use our Authorize.net account and you have had credit card merchant account transactions during your business day, the credit card merchant account settlement will occur automatically at a specific time in your time zone. You will receive a credit card merchant account email receipt of said credit card merchant account batch settlement each day the credit card merchant account batch settlement takes place. Regardless of how many credit card merchant account transactions were within the credit card merchant account batch settlement, the credit card merchant account batch settlement will show at your Bank as ONE DEPOSIT into your business checking/savings account. The credit card merchant account batch settlement is a way of closing out one credit card merchant account business day and starting a new credit card merchant account business day. The credit card merchant account batch settlement time enables you time to view and research all of your approved credit card merchant account transactions before they are transmitted/batched to us for final credit card merchant account processing. It is your responsibility to know the time of your credit card merchant account batch settlement. Contact your credit card merchant account authorization software company and ask for your specific credit card merchant account batch settlement time. If you are using a credit card merchant account authorization software other than Authorize.net, please contact their Support Team to review the credit card merchant account batch settlement procedures and times. Some authorization software systems are primitive, meaning, the actual credit card merchant account batch settlement must be instigated manually by you. Please know that regardless of the system you have chosen to use, if you do not batch, you will not get your credit card merchant account money!

If I have 20 credit card merchant account transactions for the day, do I then have 20 credit card merchant account deposits?
See batch settlement above.

If I have a credit card merchant account transaction from a Foreign country and I do not have the credit card merchant account Fraud Detection Suite, what should I do?
Place a statement on your store explaining that you wish not to sell or ship your products outside of the USA. This may help to prevent another Foreign purchase from happening. Or, contact our credit card merchant account office to add FDS to your credit card merchant account. This will open your webstore to credit card merchant account sales worldwide without fear of accepting fraudulent credit card merchant account transactions. Please read the above description of the credit card merchant account batch settlement and understand that you can delete these foreign credit card merchant account transactions, and any other credit card merchant account transaction you wish, before your credit card merchant account batch settlement occurs. You also can contact our credit card merchant account office if you are undecided about any credit card merchant account transactions, CONTACT US.

If I have an approved credit card merchant account transaction, but have not gotten my money after 2 days, what do I do?
Contact our credit card merchant account office 866-553-8205 or email  support@tiprocessing.com

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Merchant Account Software/ Terminals  

What is Credit Card Merchant Account Authorization Software/Authorize.net?
This is the vehicle/engine/software/terminal/gateway, etc. that electronically carries/sends all credit card merchant account card information being communicated between your computer/webstore, your Customer's computer, and your Credit Card Merchant Account Processing Bank (FNP). Authorize.net also automatically stores by date the results of said credit card merchant account transactional information in a password safe file for your ongoing review/accounting record. Authorize.net enables automatic online credit card merchant account authorizations by way of an integration process that we (FNP) will perform. FNP will setup and then integrate your Credit Card Merchant Account with your Authorize.net version. We then will integrate your Authorize.net/Credit Card Merchant Account "bundle" with your compatible Shopping Cart software creating a seamless credit card merchant account payment experience for all that visit and purchase from your webstore.

Authorize.net also enables you to manually enter/type in and authorize credit card merchant account transactional information on your Virtual Terminal for sales generated everywhere else beside your webstore (examples: phone, fax, direct mail, email, or face to face selling situations). If you have a need to bill customers monthly, Authorize.net will assist with their recurring billing feature. This feature enables you to upload and charge any number of Customer's you may need with a single click. Also know that Authorize.net is the only credit card merchant account authorization software recommended by Visa International due to their extreme attention to security. Authorize.net was the first credit card merchant account authorization software to exist in our world and continues to be the most widely used credit card merchant account authorization software worldwide.

What is a Credit Card Merchant Account Hardware Terminal?
This is the black electronic box that you swipe your credit/debit card through in your grocery store and many other "retail" locations. This type of credit card merchant account terminal must be plugged into an electrical outlet and a telephone line while being used. You can also "key-in" credit card merchant account transactions on the terminal's key pad in the event the card swiper/reader does not work with a particular card or if you choose to accept a transaction from a customer that is not physically present. There are a multitude of different credit card merchant account terminal makes and models to choose from. 99% of these credit card merchant account terminals perform the exact same functions so we sell only one type. For many years we researched the credit card merchant account terminal that we offer and found it to be the most dependable and the most durable. It also carries the very best warranty and Credit Card Merchant Account Technical Support Service we have found.

What is a Mobile Credit Card Merchant Account Terminal?
A mobile credit card merchant account terminal will enable you to authorize your credit card merchant account transactions while you move about in the world. These wireless credit card merchant account units operate either in a cellular fashion or on radio waves. We researched and chose to offer/sell a credit card merchant account unit that we feel is the absolute best of the best. This unit is the most versatile and the least expensive to operate. It actually is a cell phone with an attached credit card merchant account card swiper. There is also an optional detached miniature credit card merchant account receipt printer. There really isn't anything else like it in our world today. So... if you would like to be able to authorize credit/debit card transactions nearly everywhere you go, this is the ticket!! Oh...by the way.....the built in swiper on your Mobile credit card merchant account Terminal qualifies your business for a "card present" Credit Card Merchant Account which carries the lowest processing fees in the nation.

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Online Shopping Carts  

What is a Shopping Cart?
This is a software program that is readily available for sale on the internet. A Shopping Cart that is integrated with your website enables your customer to click each item they wish to buy into the virtual shopping basket/cart. Most Carts will allow you to click a button at anytime called "view cart" which will show a list of all the items you have clicked into the basket so far. When you are finished shopping, there is a button to click that will take you to the "check out" page. Here you will immediately see a list of all the items you clicked into the basket, pricing for each individual item, and a total price of all the items combined. If you are satisfied with the summation, enter your credit/debit card info, click submit, and your products are on the way to you. Compatibility is also an issue when choosing your Cart as the Cart must be integratable with the credit card merchant account authorization software you intend to use in order for your webstore to maintain a seamless credit card merchant account payment solution for your customers to enjoy. Authorize.net researches every shopping cart software that comes available in the marketplace. If you happen upon a Cart that is not compatible with Authorize.net, it is not compatible because Authorize.net has denied compatibility due to sub-standard product quality, less than acceptable Customer Service, or both.

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