- What are Merchant Processing Services and why do I need a Merchant Account?
- Who are the parties involved?
- What credit card types may I accept?
- When and how do I receive the money from transactions?
- What does the term "Interchange" refer to?
- My business is based outside the US can you work with me?
- I already have a retail Merchant account. Do I need another Merchant account to conduct Internet and/or Mail Order/Telephone Order transactions?
- Why do I need a manual imprinter?
- What is a chargeback?
- What is a payment gateway and what is the benefit of having one?
What are Merchant Processing Services and why do I need a Merchant Account?
Merchant processing services are provided by an Acquirer (Axeus) and issued to the Merchant (You!). These services include authorization of credit cards, settlement of funds through the card associations (e.g. MasterCard and Visa), depositing of funds to checking accounts, merchant billing and account activity reporting.
A merchant account is provided by Axeus, and works like a line of credit account in reverse. Your merchant account allows you to accept credit card payments from your customers. When you charge a customer's credit card through your merchant account, your account takes the money from your customer's credit account and deposits it into your own bank account. 
- The Issuer - The Bank or other institution that issues a credit card or debit card to an individual.
- The Cardholder - The individual who is issued a credit card or a debit card.
- The Merchant - A business that has qualified to accept credit or debit cards as payment.
- The Acquirer - A Bank or a third-party organization that acts on behalf of the bank, licensed as a member of Visa and/or MasterCard that maintains a relationship with a Merchant and receives all bankcard transactions from the Merchant.
- The Processor - A third-party organization that provides authorization and/or clearing and settlement services on behalf of Issuers, Acquirers, and Merchants.
What credit card types may I accept?
You will automatically be set up for VISA® and MasterCard® transactions. You will have the option to also accept American Express®, Discover, Diner's Club/Carte Blanche® and JCB by simply choosing those card types on the Merchant Application.
In addition we also can provide you with Check Guarantee Services at no additional set-up cost!
When and how do I receive the money from transactions?
The money from Visa, MasterCard, and ATM/Debit transactions is electronically transferred into your business checking account (the account that you specified on the merchant application) on the second business day* for all batches closed before 7:00 PM EST. If the batch is closed after the 7:00 pm cut off, it will roll over to the following business day. Here is a schedule:
Trans date = business day deposited
Mon = Wed, Tues = Thurs, Wed = Fri, Thurs = Mon, Fri = Mon, Sat = Tue, and Sun = Tues. *Please note that some banks may take an additional day to post the entry to you account.
Money for American Express, Discover, Diner's Club/Carte Blanche, and JCB is deposited separately by those card issuers on a different time schedule. Please contact the respective card issuer for their specific timeframes.
What does the term "Interchange" refer to?
The domestic and international systems operated by Visa and MasterCard for authorization and settlement. Acquirers pay Issuers an interchange fee for the use of the systems to settle transactions.
My business is based outside the US can you work with me?
Sorry, we only accept US businesses. Due to bankcard association limitations, the Merchant credit card acceptance accounts are only available to Merchants located in the United States, that have a relationship with a US financial institution, valid US address, valid government issued ID and a valid business checking account.
I already have a Retail Merchant account. Do I need another Merchant account to conduct Internet and/or Mail Order/Telephone Order transactions?
Visa and MasterCard Associations have different criteria for evaluating the potential risk involved in credit card transactions where the card is not physically present at the time of the transaction. This type of business is typically referred to as "card not present" or "MO/TO" (mail order/telephone order). Due to the risk, an additional, separate Merchant account will probably be required.
Why do I need a manual imprinter?
A manual imprinter is essential for many reasons. The most important reason being that it acts
as a back up device in the event of a power failure, down phone lines or terminal failure. For in-field merchants it provides a receipt copy for the cardholder, and in the event of a charge-back, the imprint proves that the card was present at the time of the sale. (For example, if the magnetic strip on the card is bad and you must key the credit card information).
What is a chargeback?
A chargeback is a credit back to a cardholder's account that occurs when a cardholder informs their credit card issuer that a particular charge was not authorized or that goods or services were not delivered or provided as promised by the merchant.
What is a payment gateway and what is the benefit of having one?
A payment gateway is a service that gives an Internet Merchant the ability to perform real-time credit card authorizations from a website over the Internet. Other features include:
- Security: Gateways keep customers' credit card data behind firewalls so that the Merchant doesn't have to worry about someone 'hacking' into their system.
- Encryption: Gateways use Secure Socket Layer (SSL) channel encryption to prevent message tampering while the credit card information is being transmitted over the Internet.
- Back-up redundancy: Gateways have a backup system in place to ensure that Merchants can continue processing in the event of an emergency.
- Up-to-Date technology: Gateways are services that are constantly upgraded to be up-to-date with the latest technology. And, because the gateways are not on Merchants' computers, there is no need for the Merchants to upgrade their hardware.
- Price: Gateways save the cost of an additional phone line that would be needed in a dial application.
- Certified standards: Gateways all must comply with standard Axeus' certification policies prior to being deemed an acceptable processing solution (Certified gateways can be provided by your financial institution).
