CREDIT CARD PROCESSING SERVICES FAQ

Questions New Merchants Often Ask

Below are a number of questions that new and current customers frequently ask us. If the questions below do not answer your question, please feel free to call us on our toll-free number above, or contact us directly via our customer form. We thank you for your interest in Credit Card Processing Services.

What kind of businesses qualify for a merchant account through Credit Card Processing Services?

CCPS accepts retailers, professionals, trade shows, mail order, telephone order, Web based, home-based, and some adult-related businesses. At present, we can only accept US customers, and high-volume European customers.

Do I need a business license to qualify?

Yes, although the actual documents may vary by jurisdiction. You do need to have documentation showing that you have registered your company name with either your state government or the IRS. This could include a business license, trade name registration or a DBA certificate.

Do you accept international merchants?

No. We cannot accept Canadian merchants, or companies based outside of the US, unless they have a US-based subsidiary.

My credit is not very good. Can I still get approved?

Yes. We have an approval rate of 98%, so bad credit is generally not a roadblock to acceptance. We do not charge application fees for applying, so even if by some chance you are rejected, your risk is minimal.

What credit cards can I accept with a merchant account from CCPS?

Our key credit card processing focus is the two industry giants, namely Mastercard and Visa, but we do offer American Express and Discover account privileges as well. Currently, AMEX charges no setup fee, however, Discover charges a $25 starter fee.

What monthly fees will I be subject to with Discover or AMEX-ready accounts?

With Discover, you are subject to a discount rate as well as a transaction charge, both of which are set by the company which owns Discover. AMEX charges a transaction charge as well, but instead of offering an overall discount rate, it instead offers a $5 per month plan which allows you to process up to $5000 per year, which comes out to a discount rate of 1.20%. If you have amounts to process over this level, AMEX will determine your discount rate depending on the amount and your business type.

What exactly is the discount rate?

No matter what company or processor you deal with, each and every bank will charge what is known as a discount rate. This discount rate is a percentage of each transaction that the processing company charges to handle your transactions. We charge industry-leading discount rates, starting at just 1.59% for retail card-present merchants and 2.15 and 2.45 for Internet/Mail Order/Telephone Order merchants.

Do I receive a statement detailing my charges?

Yes. Each month, you will receive a statement containing the information on all of your deposits, your total sales volume and total transaction charges for the month. Currently, we charge a monthly statement/Toll Free help desk fee of $8.

How do I receive money once I have run charges?

Once transactions are approved, money is deposited directly into your current business checking account. In general, those funds are available within 48 hours.

What is the Address Verification System, and how do I use it?

If you are a mail/telephone order or Internet-based business, sending a product to a false address is by far your biggest risk, and can result in penalties and chargebacks. However, with the Address Verification System or AVS, you can enter your customer's home address details and compare it with the address currently on file with their credit card company. That way, if someone is using a stolen card and is intending to have your products shipped to a fake address, AVS will warn you of this immediately.

I'd like to get started right away. How do I apply?

To begin, simply fill out our free, no-obligation contact form (or call our toll-free number above). Once you have filled in the pertinent details on our form and submitted it, we will contact you within 24 hours (except holidays & weekends), and let you know which program your company is best suited for, and answer any questions you may have. Once you are ready to go ahead, we will fax or Fedex you a hard copy application package. Once you have filled in the documents, and sent us the additional required documentation, your approval process begins.

How long does the merchant account approval process typically take?

Once CCPS has received all of your paperwork, we can typically approve your account and have you ready to go within 72 hours. Once approved, we immediately inform you of your acceptance, and deliver the terminal equipment or software immediately.

If I need help, is there a toll-free number I can call?

Absolutely. With a merchant account/credit card processing solution from CCPS, you receive live, toll-free assistance. This assistance is available to you 24 hours per day, 7 days per week, 365 days per year.

For more help, please contact us here.