Merchant Services Questions, Answered

A merchant account is the account arrangement that allows a business to accept card payments and have approved transactions settled to its bank account. Accounts are established through a processing relationship and are subject to underwriting.

Interchange Plus is a cost-plus pricing structure. The merchant pays the underlying interchange and card-network costs on each transaction, plus an agreed processing markup shown separately on the statement.

Dual Pricing displays two clearly disclosed prices — one for card payments and one for cash — so the customer can choose. Program configuration is subject to card-brand rules and applicable laws.

A Cash Discount program applies a posted price and offers a discount to customers paying with cash. Like Dual Pricing, it must be configured and disclosed according to card-brand rules and applicable law.

Often, yes. Tap to Pay allows a compatible iPhone or Android device to accept eligible contactless cards and supported digital wallets. Device, operating-system and program eligibility apply — not every phone is supported.

Not always. Some businesses use a terminal, others use a POS system, a virtual terminal, payment links or Tap to Pay on a compatible phone. The right answer depends on how the business sells.

A virtual terminal is a secure browser-based interface used to key in card-not-present transactions, such as phone orders or remote payments.

Where supported, a merchant can send a secure payment link through digital channels so the customer can pay from their own device.

QuickBooks-connected payment workflows can reduce duplicate entry and support reconciliation. Available functionality depends on the payment platform, accounting software version and merchant configuration. QuickBooks and Intuit trademarks belong to their respective owners.

We offer LINGA POS for full-featured restaurant and retail environments, along with Dejavoo and Valor payment technology for merchants that need countertop, wireless, mobile or other payment-device options. Product features and availability vary by merchant, equipment and program.

Handheld ordering and pay-at-table workflows are available on supported restaurant POS configurations. Hardware availability varies.

Yes. Online businesses can apply for gateway-based acceptance and hosted checkout. Approval depends on the business model, fulfillment practices and underwriting review.

We review specialized businesses individually. Some categories require additional underwriting review, and approval is never guaranteed. Terms vary based on underwriting.

Timing depends on the completeness of the application, the business type and underwriting review. We can give a realistic expectation once we understand the business, but we do not promise a specific approval time.

Requirements vary. Merchants are commonly asked for business formation and EIN documentation, identification for qualifying beneficial owners, recent bank statements, a voided check or bank letter, and recent processing statements when currently accepting cards.

PCI DSS is the Payment Card Industry Data Security Standard — a set of security requirements for businesses that handle card data. Merchants are generally required to validate compliance annually.

Yes. Most merchants can move to a new processing relationship. Review any existing agreement for terms, and we can help plan the transition around the business schedule.

The most reliable way is to review a recent merchant processing statement. It shows the effective cost of accepting cards, the pricing structure in use, per-transaction charges and recurring account fees — figures that a verbal rate quote rarely reflects accurately.

Most statements show total card volume and transaction count, interchange and network costs, the processor's markup, per-transaction and authorization charges, monthly account or service fees, equipment or gateway charges and any adjustments such as chargebacks.

Yes. A recent processing statement shows the actual rate structure, transaction costs and miscellaneous fees, which is the most accurate way to compare options. There is no obligation to switch processors simply because we review a statement.