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  1. #1

    Debit/ Atm Card Processing

    DEBIT/ ATM CARD PROCESSING

    Can we do it online?
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  2. #2
    Not that I know of. Only CC is available now I'm thinking.

  3. #3

    Question

    where can I get info on adding CC to my site? I have a visa/mastercard account and would like to take payments on line.

  4. #4
    Join Date
    Jul 2003
    Location
    Castle Pines, CO
    Posts
    7,189
    123x:
    silock is correct. You cannot do it online yet. They are still working on the PIN encryption piece.


    Sharkyjay,
    Do you accept Visa/Mastercard in a brick & mortar business & you want to accept them online in an internet business? You do need another merchant account, an internet merchant account. The discount rate is a bit higher than your brick & mortar account. You are probably paying 1.55% for the brick & mortar. The discount rate for an internet account is about 2.25& due to the higher risks involved.

  5. #5
    Hey Corey,

    Do I need to sign up with a new merchant provider and link it to my bank account or could I stick with my current bank for the service?

  6. #6
    Join Date
    Jul 2003
    Location
    Castle Pines, CO
    Posts
    7,189
    Well you need a new merchant account - an internet merchant account. And then that money that is processed wil be deposited into your bank account.

    Check with your current processor - what are their charges - if it is more than 2.25% then keep shopping. If your current processor is also charging you more than 1.55% for your brick & mortar account - consider switching as well. You shoud be paying the least amount of money for this.

  7. #7
    Join Date
    Aug 2003
    Location
    Chesapeake, VA
    Posts
    3,381
    It is currently not possible to process ATM / DEBIT-only cards online due to some technical hurdles on the encryption side, as Corey mentioned.

    In terms of using an existing bricks and mortar account to process Internet sales, you would end up paying a non-qualified rate on those sales so you will be better off getting a merchant account configured for use with MOTO (Mail Order/Telephone Order/Internet) processing.

    In addition, a lot of banks will not even allow you to process Internet sales - even an occasional one - on a Retail account, so it is much better to setup a separate account for your online sales.

    There are a lot of good options on the market available to provide Internet merchant accounts. The same is also true for bricks 'n' mortar (retail) accounts.

    A few things that you will want to make sure you ask about with any merchant account, whether Retail (Card Present) or MOTO (Card Not Present) are:

    1. Find out the Qualified, Mid-Qual and Non-Qual Rates - you'll want to keep in mind that the total % cost is not just the qualified discount rate but also mid and non-qual fees that will apply on certain transactions.

    2. Find out the Per Trans Cost and any AVS Per Trans Costs - for Internet merchants, the total per trans cost is always the per trans + AVS since AVS is utilized on all trans.

    3. Find out the Statement Fee, any other Monthly Fees - sometimes these are listed under different names so make sure to get an apples-to-apples understanding between various providers.

    4. Find out the Annual Fee(s) if applicable - some providers assess an annual fee and others don't.

    5. Find out what Monthly Minimum (if any) applies - make sure to ask about this fee. For a small merchant, this can add an additional $20-25 to your monthly cost - above and beyond the statement fee and other fees. If you can find a provider that will reduce or waive this fee completely, that can be a big help.

    6. Find out if there are any Minimum Contract Lengths on any of the Terminal, Software or Gateway Service - whenever possible, look for a solution that doesn't require you to commit to a long term obligation for your point-of-sale system.

    7. Find out the exact Terms & Conditions pertaining to the account's Termination/Cancellation Fee - this is a very important and often overlooked area that can hold a significant amount of financial liability for merchants if it is not addressed.

    8. Do your Due Diligence - see what other merchants have to say about the processor(s) you are looking into

    Hope that info is helpful - best of luck in your search for the right merchant account provider for your needs!
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