Merchant account questions
How do I apply?
Just fill out the free, no obligation, online merchant account application and sign up for a 30-day risk-free trial. It should take you less than 10 minutes.
How long does the approval process take?
Once all necessary application info is received, the processing time is usually 24 hours or less, sometimes same day if we receive it first thing in the morning. If approved, we will immediately inform you of your acceptance and deliver the terminal equipment or software.
What does the 30-day risk-free trial mean?
The 30-day risk-free trial allows you to try our merchant account products and services, totally risk-free. If you don’t experience the highest level of customer service, along with fast, efficient processing at an overall low cost, then cancel the service. We will refund you the purchase price of any equipment or software you purchase. However, merchant account credit card processing fees that you may have incurred are not refundable. This offer does not apply to leased equipment. Certain restrictions and exclusions apply. Merchant account is subject to credit approval. Offer subject to change without notice.
What kind of businesses do you accept?
We accept retail, professionals, trade shows, mail order, telephone order, Internet based, and home based businesses. Sorry, we don’t accept adult related businesses.
Do I need a business license?
You do not necessarily need a business license, although it is one type of item that would satisfy the Premise Inspection Requirement. You would not need to have one if you have a different acceptable core documentation item that is required. These items vary depending upon the level of risk associated with your business.
Do I need a business checking account?
You only need a business checking account if you are a corporation. If you are a sole proprietorship you may use a personal checking account or a business checking account.
What if I have less than perfect credit?
Technically, your personal credit score does not affect your merchant account rates, but if you have a low credit score there is the possibility that you may not be eligible. We can sometimes approve a merchant account application despite a low personal credit score by putting other stipulations in place.
What credit cards will I be able to accept?
We set you up so that you can accept MasterCard, Visa and bank ATM debit cards. You can apply for American Express and Discover at the same time. There is a setup fee for American Express and Discover.
Do I need to have an American Express or Discover account before I apply?
No you do not. We do all this for you.
My website isn’t ready; can I still qualify for an account?
Yes, we can accept temporary websites, something very basic that shows product and pricing. It does not have to be live to the public but should show enough to give a sense of what you are selling and for how much.
Can I use a cell phone to process credit cards?
PayFox® from Merchant Express® is the mobile processing solution that turns your smartphone into a credit card terminal. Download our free app and deliver your products or services directly to your customers in the field. Then collect payment on your mobile phone with direct swipe capabilities that can save you money on processing fees. PayFox offers the features of a countertop terminal plus the freedom to roam to serve your market. Imagine accepting major credit and signature debit cards at the point of sale by simply sliding them through a USB cardreader attached to your iPhone. You can even email receipts, manage voids and issue refunds via your phone!
How will I get my money?
In a card payment transaction, once Merchant Express receives authorization it’s passed along to you, the merchant, who completes the sale and issues a receipt to the cardholder. The card issuer bills the cardholder’s account and pays Merchant Express, who deposits the transaction proceeds into the business owner’s merchant account. The funds will be deposited into your bank account, typically within two days but may take longer for high risk businesses.
Is there a customer support number that I can call if I need help?
Yes! Our U.S.-based customer support team is always available. You will have live, toll-free merchant assistance by calling 888-845-9457 anytime — 24 hours a day, 7 days a week, and 365 days a year.
Will I receive a statement?
Yes. A statement is mailed out and/or emailed out every month with the information on all deposits into your account, your total sales volume, and the charges for the month. You can also access this information online via a website anytime for real time up to date information.
Do you accept foreign businesses?
Yes we do. This requires a completed and approved International / high risk merchant account application.
What is the discount rate?
The discount rate is the fee that a merchant pays to the acquirer for the processing of services that enable the merchant to accept bankcards as payment. Our discount rates are extremely competitive.
What is the Address Verification System?
If you sell mail order/telephone order, or through the Internet, you don’t want to send a product to a false address and have a risk of receiving a chargeback. The Address Verification System (AVS) lets you enter the customer’s home address and compares it to the address on file with their credit card company. If someone uses a stolen card, and wants products shipped to a false address, AVS will detect this for you.