A merchant account is a type of bank account that allows businesses to accept card payments. A merchant account is established under a merchant agreement made between a business and an acquiring bank for the settlement of payment card transactions.
A MID is your merchant ID number. You should ensure to quote this number on all correspondence with the supplier to enable them to respond to your requests promptly.
An additional merchant account is required to accept American Express cards. We can help you to arrange this if you do not already have one.
If you wish to accept any other card types it’s important you advise us as early as possible so we can accommodate this for you.
You will also be able to accept the latest payment methods such as Apple pay, Android pay, MasterPass, V-pay and other e-wallets.
For a fault with a terminal the terminal supplier support team will begin by conducting some trouble shooting procedures with you to identify the cause. Should they be unable to resolve the issue an exchange will be arranged within 24 working hours at no charge.
You are responsible for the safe keeping of the equipment. If the terminal is stolen or damaged, you should advise the terminal supplier who will arrange for the replacement terminal to be delivered and will inform you of the cost for replacing the equipment. You should then make a claim to your insurance company to recoup the costs for the replacement terminal.
This really depends upon the type of solution you require but can take anything from 2 days to 2+ weeks.
For a traditional solution that requires a merchant account, a member of our support team will give you a helping hand to complete an application with the chosen merchant services provider. This will then be sent to you for electronic signature.
Depending on the nature of your business, once your application is submitted approval can take as little as 48 hours. However, if your business is particularly complex or within a high-risk sector it can take longer as additional information may be requested.
Thanks to our experience in the industry we are usually able to pre-empt delays and will cover this from the outset.
Upon approval of the merchant account we will then arrange configuration and delivery of your new card machine - this usually takes 2-3 days. Alternatively, we will forward you instructions to set up your new Virtual Terminal or E-commerce gateway.
It really depends on the complexity of your business and the solution you require. Our job is to make it as easy as possible for you and we will do what we can to simplify the process. We will go through all the necessary information over the telephone and email the completed application over to you for electronic signature. We can arrange for paper applications to be posted to you if this is your preference.
All applications must be accompanied by a bank document that matches and confirms the details provided on the application. For a limited company this must be a business current account, for partnerships and sole trader account you can use a personal current account.
PCI DSS is the worldwide Payment Card Industry Data Security Standard that was set up to help businesses process card payments securely and reduce card fraud.
The Payment Card Industry Data Security Standard (PCI DSS) applies to companies of any size that accept credit and debit card payments. If your company intends to accept card payments, and store, process or transmit cardholder data, you need to host your data securely with a PCI compliant hosting provider.
We will send you details on this as part of your application process. In most cases you will have 3 months from setting up your facility to supply the PCI certification number, before a monthly non-compliance penalty is applied.
The suppliers (merchant service provider/acquirer) require a PCI compliance number from all merchants under the Payment Card Industry/Data Security Standards. They all offer their own way of obtaining a certificate.
For a Chip and PIN card transaction
The cardholder verifies that they are the bona fide owner of the card by keying in a corresponding PIN. The terminal verifies the cardholder, based on the PIN being approved. If the card is a counterfeit one, the terminal will prompt the staff member to decline the card. Be wary of accepting a payment card when the customer claims not to remember their PIN. This could be an indication that the card was stolen.
For Online or telephone payments
CVV is an additional service which is intended to assist the combating of fraud in Card Holder not Present transactions. The purpose is to ensure that the data stored on the magnetic stripe of the card is valid and was generated by the issuing bank. The CVV code is the final 3 digits of the number shown on the signature strip of the card. Address Verification Services ensure that the supplied address details match those registered for the card.
A “chargeback” is a mechanism that has been put in place for a card holder to challenge a transaction that they wish to dispute. A cardholder can request a refund via their card issuer if they believe a merchant has failed to provide a product or service as agreed upon purchase.
Common reasons for a chargeback are: