Merchant Account Kit

Help questions and product support

Product FAQ

Sales tips and literature

Product knowledge self-tests

Merchant Commission

Sales tips and literature:

Before merchant account prices can be quoted, the applicant must choose which account is best for the particular business.  Use these guidelines to help your clients make the right choice.

Click here to read about choosing an account

Click here to see a price and feature comparison of available accounts.

Example sales pitch: You can read this word for word to land the sale.

Click here to read a sales pitch for Authorize.Net.

Click here to read a sales pitch for PC Authorize.

Click here to read a sales pitch for a retail SWIPE account.

Here is a letter that you might send to an interested client:

Dear Client,

Thank you for asking about accepting credit cards. Here is the information you requested regarding the Authorize.Net real time merchant account. 

The Authorize.Net terminal is easy to use and contains many convenient features such as transaction search, and batch upload features. Authorize.Net is compatible with a wide range of shopping cart programs. An email receipt is generated and sent to the address listed.

AUTHORIZE.NET - Uses Authorize.Net Web Terminal
This merchant account can offer guaranteed approval to most applicants regardless of credit history. While these rates are very good and quite competitive. 

$495 to purchase 
$99 one-time application fee

2.35% discount rate
$0.35 per transaction 
Monthly Statement Fee $15 per month
Monthly Gateway Fee $15 per month

You can use the Authorize.Net demo at the following addres:
http://yourfavorite.com/products/demo/login.htm

Please feel free to contact me with your questions.  (phone number)

Sincerely,
Sales Associate

The Authorize.Net real-time demo is a useful tool:

http://yourfavorite.com/products/demo/login.htm

Try the PCAuthorize DOWNLOADABLE demo:

http://yourfavorite.com/products/demo/pcdownload.htm

Product knowledge test:

1. What is a merchant account? A merchant account with Visa and MasterCard that allows a business to accept credit cards as payment for goods and services
2. What are some examples of ineligible business types? Travel and Airfare, Very High ticket items such as oriental rugs, and expensive computer equipment, adult entertainment, and Non standard businesses such as water purification or MLM (multi level marketing) are not generally accepted. 
3. Why are unacceptable business types considered unacceptable? Because these industries have been shown to have a high risk of irreversible charge backs or fraudulent charges. 
4. What does "real time" mean when pertaining to a merchant account? A real time merchant account is one that operates using a secure virtual terminal on the internet. Customers can place their orders at merchants website. Upon submission the credit card is sent securely over the internet to the virtual terminal, which processes the transaction and sends an approved or declined response to the customer instantly. 
5. How do I know if I need a real time merchant account? Real time merchant accounts are ideal for those with a high volume of transactions, or those, which provide a product or service that is available immediately. 
6. What if I live in Canada? We cannot setup your merchant account. 
7. How long does it take to set up a merchant account? Approximately 14 business days, as long as all paperwork and correspondence is returned properly.
8. What is a Gateway fee? The gateway fee is for a real time merchant account such as Authorize.Net, Cybercash, or Linkpoint. The monthly gateway fee covers the cost of maintaining the secure connection between your computer and the virtual terminal.
9. What is the difference between a virtual terminal and traditional credit card terminal? A virtual terminal resides in a server room under the watchful eye of a server technician. This technician will maintain your virtual terminal for your use. All merchant account statistics and functions are obtained online using the secure gateway. A traditional credit card terminal will accept swiped credit cards when they are present for manual processing. The traditional terminal uses your phone line to dial into the credit card processing network for authorization. This takes approximately 6 seconds and an approved or declined message is received. When using the traditional credit card processing systems, you will "close the batch" each evening to send the transactions to the bank.
10. What is the statement fee? The statement fee is also known as the customer service fee. This charge is for the compilation and mailing of your merchant statement each month, as well as the 24 hour merchant services that are provided by phone.
11. What is a transaction fee? The transaction fee is usually between 20 and 35 cents. This money goes to the merchant bank provider to maintain the credit card processing network.
12. Explain how the discount rate works. The discount rate is a percentage of each transaction that is given to MasterCard and Visa. This is their share of each transaction processed using their credit card services. All credit card companies will charge the discount rate. Discount rates range from 1.69% - 4.0%
13. What does the setup fee include? The setup for our merchant accounts helps to cover the cost of the processing equipment, software or virtual terminal, as well as the setup of the account, business site inspection, and issuing of the Merchant Number and Terminal ID.
14. What is the application fee for? The application fee is not refundable if unless the applicant is declined. The application fee covers the cost of the contracts, application costs, and credit reporting, as well as contract shipping costs. The application fee helps to ensure that applicants follow the application procedure through to the finish, because they have already invested $99.
15. What is the importance of obtaining AVS on all transactions? AVS is the address verification system. It will compare the billing address listed on the credit card with the address listed on the transaction. Non AVS transactions may be assessed a service charge. Obtaining AVS on all credit card transactions reduces the likelihood of fraudulent transactions or charge backs.
16. Explain what a charge back is. A charge back is not a refund. A charge back is when a credit card owner disputes the charges on his account. This may be done because he was unsatisfied with the good/service, or because the goods/services were not delivered. 
17. What is your merchant Number? The merchant number is the account number assigned to your merchant account. This number will be referred to on your monthly account statements as well as when you contact the 24 hour merchant services. It is unique to your account.
18. What is the terminal ID? The terminal ID is the number that is assigned to a particular credit card processing terminal. This number will be issued to you along with your merchant number upon approval of your account. The two must always be transmitted together to gain approval for credit card transactions.
19. Why do I need software or a terminal? Cant I just call in my transactions? Credit card processing terminals are certified by MasterCard and Visa, and meet a set of requirements. Certified terminals will transmit the merchant number and terminal ID together with every transaction. This authenticates each transaction is valid. However, Discover Card and American Express do allow merchants to call in credit card transactions without a terminal. Some banks may open low volume or special merchant accounts for local long time customers. These accounts may allow merchants to call in transactions daily; discount rates associated with these types of accounts may be as high as 5%. 
20. When will I get my money? Money will be directly deposited into your account approximately 2 - 3 business days after the batch is closed.