FAQ
Get answers to some of our frequently asked questions.
What is a merchant account?
A merchant account is set up with a financial institution to allow you to accept credit card payments directly from your website. Unlike with most third-party services, money collected through your own merchant account is deposited directly into your checking account within 2 to 3 business days
What credit cards can your merchant accounts accept?
Currently, all major international credit cards may be accepted as well as local debit cards. Merchants with additional inquiries for alternative payments may approach Net Merchant.
How long will it take to open a merchant account?
Thanks to Net Merchant's excellent relationship with its acquirers, it only takes a maximum of 72 hours from the moment the application documentation has been completed and forwarded to the bank to activate a direct merchant account.
Why does it cost more for Internet, mail, and telephone transactions?
It is considered safer by banks to undergo a 'person present' transaction. Rates are lower for 'person present' transactions and occurrences of fraud and chargebacks are less.
Will I receive reports of my transactions?
Net Merchant will issue you a daily statement detailing the complete activity of your merchant account.
What are chargebacks?
A chargeback occurs when a credit card holder disputes a given charge on his monthly statement. If the cardholder can show that the charge is bogus, the card issuing bank is legally obligated to credit him the full amount. If the charge is related to an Internet transaction, the internet merchant is responsible for supplying the issuer with 100% of this total cost.
My business is considered high-risk, can Net Merchant still provide me with an account?
Not only is Net Merchant able, but it has turned high-risk accounts into its field of expertise. With its state-of-the-art fraud screening technology, its unmatchable track record, Net Merchant has proven experience in reducing a merchant's risks and bringing them down to a minimum level. Net Merchant considers high-risk accounts an appealing challenge to create and improve its current set of fraud screening tools.
