FAQs
Frequently Asked Questions
- What is Merchant Account processing?
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Merchant account processing services are provided by a bank or a third party processor (on behalf of the bank) to the Merchant. These services include authorization of credit cards, settlement of funds through the bank associations (MasterCard and Visa), depositing of funds to checking accounts, merchant billing and account activity reporting.
- How do I apply?
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Just fill out the online application and submit it to us. Once pre-approved, we will send you the agreement to sign. This process typically is completed in 2 to 4 business days.
- I have a bad credit rating, is this a problem?
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Not necessarily. Declined applications are usually due to a current bankruptcy or tax lien. There is no obligation to apply and application is FREE.
- What equipment do I get? Must I purchase it, or can I lease it?
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There are point-of-sale terminal options for ANY business application. The equipment may be purchased or leased.
- What are my leasing options?
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There are multiple leasing options to suit your business needs.
- Can I use my computer instead of a terminal to process the sales?
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Yes, there are software options that are cost effective and efficient.
- Do I receive any training on the equipment?
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Our trained installers will fully train you on the use of your chosen equipment at NO CHARGE.
- Is there a Customer Service phone number that I can call if I need help?
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Yes. Toll Free 877.737.7355
- What is a discount rate?
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A small percentage of each transaction that is withheld by the Acquiring Bank and processor. This fee is basically what the merchant pays to be able to accept credit cards. Our discount rates are among the lowest in the industry.
- When can I expect the money from the sales to appear in my bank account?
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Typically within two days of settlement.
- What if my application is declined?
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Remember, nearly half of all merchants are approved instantly. There is no obligation once you have applied.
- Who is First Data?
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Atlanta-based First Data Corporation helps move the world's money.First Data Merchant Services (FDMS ®), a subsidiary of First Data Corp., is the worldwide leader in electronic payment solutions. Through partnerships with several of the nation's largest financial institutions and other organizations, FDMS settles more than 36 billion electronic payment transactions annually--worth over $2.5 Trillion in sales volume for approximately 4.1 merchant locations. The First Data processing portfolio is comprised of brick and mortar, Internet and mail/telephone order merchants of all sizes. With their partners, they provide merchant processing solutions in the United States, Canada, the Caribbean, Mexico, the United Kingdom and Australia.
First Data Merchant Services is creating new technologies for merchants to accept payments from anyone, anywhere, anytime.
First Data offers a wide array of payment processing solutions including: Point-of-Sale terminal products; PC products; processing for credit, debit, stored-value and gas cards; Electronic Benefits Transfer (EBT) transactions; Business to Business (B2B), recurring payments, the TeleCheck Electronic Check Acceptance ® (ECA ®) service, and one-stop e-commerce solutions. FDMS supports the latest technology to process transactions from start to finish, safely and securely. First Data offer customized reporting tools to meet merchant needs, creative programs to help merchants grow their business--loyalty programs, gift cards, coupons and customer rewards--and end-to-end, fully integrated payment solutions.
Source: http://fdms.com
