ANSWERS QUESTIONS ABOUT ACCEPTING

Q. What is a Merchant Account?

A Merchant Account is a business account that allows you to accept and process payments from credit or debit cards.
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Q. Can I sign up for merchant services before I actually open my business?

You can sign up for our merchant services any time you want. Whether you are new in business or have processed credit cards for many years, Meramak has a product to fit your needs. Depending on what services you elect to provide to your customers, you will be able to offer anything from simple on-site credit and debit card processing to gift cards and today’s necessary electronic processing from the day you open your doors.
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Q. Can I use my existing equipment?

In many cases you can continue to use your existing equipment once we provide your credit card processing. However, old and outdated equipment may no longer be compatible with current standards and thus may not be capable of handling the updated security requirements or the latest types of transactions including gift and loyalty programs. Because the ability to process these additional card transactions can lead to increased sales revenue and new profit centers for your business, it is well worth considering updated equipment. Please call an account representative for further details.
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Q. Can I be approved if I don’t have a good credit standing?

Yes, we can work with merchants who have less than average credit.
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Q. What are your rates and fees?

Our rates and fees are determined based on the type of business you have and the services you provide. Thus, there is no single answer to this question. We can tell you that our rates are very competitive. Very simply, our goal is to establish a lifetime relationship with you and offering affordable pricing and superb customer service is the best way to retain your business. To receive a no-cost, no-obligation quote, please call and speak to an Account Executive at 1-800-597-3140.
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Q. What is an ISO/MSP?

The acronym stands for Independent Sales Organization/Merchant Service Provider. An ISO/MSP is an organization registered with and audited by Visa and Mastercard as well as an FDIC insured member bank. Meramak chose to become an ISO/MSP in order to show our commitment to our customers. Ask your agent if he is registered!
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FREQUENTLY ASKED QUESTIONS ABOUT THE APPLICATION PROCESS

Q. What types of merchants do you not accept?

Adult Internet, Internet Gambling, Escort Services, Airlines, Illegal Activities of any kind, Collection Agencies (if written off Debt).
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Q. What credit card types may I accept?

You will automatically be set up to process VISA and MasterCard transactions. To accept American Express, Discover, and Diner's Club, simply click on those card types on your application.
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Q. How long will it take me to complete the online application?

We've designed our short online application with your busy schedule in mind. But before you begin, you will need to gather necessary information. Provided you have all of the information on hand, you can complete the application in 15 minutes.
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Q. Am I required to have a physical storefront to process credit cards?

This is not a requirement.
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Q. Will I need to purchase additional equipment?

In many cases you can continue to use your existing equipment once we provide your credit card processing. However, old and outdated equipment may no longer be compatible with current standards and thus may not be capable of handling the updated security requirements or the latest types of transactions including gift and loyalty programs. Because the ability to process these additional card transactions can lead to increased sales revenue and new profit centers for your business, it is well worth considering updated equipment. Please call an account representative for further details.
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Q. What type of bank account do I need?

You will need a business checking account. Your bank must allow this account to be credited and debited via ACH methods.
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Q. What happens after my application is approved?

After we approve your application, we will be personally notified by your sales representative. You may also receive an email explaining your real-time gateway setup (if you are using a gateway). Note: You or your e-commerce provider may need to perform a small amount of configuration when setting up your real-time processing environment. You will receive a Welcome Packet by mail that explains this process in more detail.
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Q. How quickly can I begin processing credit cards once my application is approved?

99% of all merchants are approved with 24 business hours from the time we have your application/agreement. At this point you can begin processing thereafter.
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Q. How will I get paid for credit card transactions?

Your designated checking account will be credited for Visa/MasterCard transactions within 2 business days of batch submission. All American Express and/or Discover transactions will be deposited by American Express and/or Discover.
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Q. Is my application information secure?

Yes, your application information is encrypted and secured.
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Q. Who will review the information on my application?

Our merchant underwriting and activation group will review your application. The information you provide is kept confidential.
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Q. Who do I contact if I am having problems with the application?

If you are having difficulty with any of the requested application data or are experiencing technical problems while completing the application, please call . Phone representatives are available to assist you Monday - Friday between the hours of 9 am and 6 pm.
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