Q.01 When is money settled into my account using IntelliCharge? |
A.01 There is a difference between authorization and settlement.
Authorizations take place in real-time (meaning 3-5 seconds for approval
or decline). Settlements for credit cards are deposited into your account(s)
within 24-48 hours. For private label cards and American Express their
merchant terms vary, and money is settled according to their merchant
payment terms.
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Q.02 What is a discount rate? |
A.02 A discount rate is a bank charge on merchant accounts. It is
the fee that the banks and credit card companies charge merchants.
Discount rates typically vary between 1.5% to 6%. However, be
careful when evaluating this fee alone as a factor for determining fees
paid to a bank or merchant service provider. Many times, a flat
rate per transaction fee and additional monthly fees are involved as
well.
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Q.03 What is a chargeback? |
A.03 Chargebacks are when a customer contests a purchase made and
charges the purchase back to the merchant. At this point the customer and
merchant bank must review the case, and determine the customer’s claim
that the purchase did not take place.
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Q.04 Does IntelliCharge approve credit card numbers? |
A.04 In actuality, the banks do. Our role is to securely transport
the credit card information to the banking network and payment processing
gateways for authorization and then return it to the customer and merchant.
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Q.05 What does real-time processing mean? |
A.05 Real-time processing is a method by which transactions are
approved “on the spot”. Customers receive an approval or decline message
within 3-5 seconds.
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Q.06 I have several locations that are all networked together.
Can I process credit cards at different locations and use different merchant
accounts? |
A.06 Yes. Some companies prefer to open up separate
merchant accounts for different locations in order for the monies to be
settled into different commercial bank accounts. Intellicharge allows
one unique merchant account per company and per workstation.
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Q.07 What kind of security feature does Intellicharge provide? |
A.07 Intellicharge encrypts all credit
card and electronic check information for transport using the widely
accepted SSL technology.
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Q.08 How simple is it for dealing with returns or refunds? |
A.08 Each transaction that is processed through the Intellicharge
interface returns a unique Gateway transaction Id. This Id is internally
recorded and serves as reference to the original invoice transaction.
Intellicharge seamlessly handles all of the communication with the payment
processing gateway for properly refunding partial or entire transactions
using this Id. Bottom line, the entire process of reversing an invoice
is completely transparent to your employees.
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Q.09 What is the average speed per transaction over the internet? |
A.09 Intellicharge transactions average around 3 seconds for authorization.
This is typically much faster than your traditional pos terminals.
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Q.10 Does Intellicharge offer something to prevent fraud? |
A.10 Automatically included with the Intellicharge interface
is basic fraud screening tools including AVS (address verification system),
Visa's CVV2 and MasterCard's CVC 2. These proven tools
can filter out most fraud, and are available to you at no extra cost.
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