Frequently Asked Questions: Merchant Accounts and Accepting & Processing Credit Cards

  • Is there a minimum term?
  • How do I apply for a merchant account?
  • Can I be approved for a merchant account if I have bad credit or no credit?
  • Can I be approved for a merchant account if I am just opening my business?
  • What is included with my Internet merchant account?
  • Do I need a shopping cart for my Internet merchant account?
  • How long does it take for my credit card processing transactions to get funded?
  • What if I need help with my merchant account?
  • Will I know how to use the swipe terminal?
  • What type of merchant accounts do you setup?
  • How long does it take before I can accept credit cards?
  • How does the Internet merchant account integrate with my Web site?
  • What is your return policy?
  • What do I need to fill out the application for a merchant account?
  • What is the discount rate?

Is there a minimum term?
Yes. For internet accounts it is 6 months and then it turns to month to month. For retail accounts it is 2 years and then it turns to month to month. For retail accounts that choose the free equipment program it is a 3 year minimum and then turns to month to month.

How do I apply for a merchant account?
You can apply for a retail, wireless, and Internet merchant account from our merchant accounts application page.

Can I be approved for a merchant account if I have bad credit or no credit?
Yes. We have one of the highest approval rates in the industry, even for people with bad credit or no credit. Our merchant account applicationhas no setup charges or application fees. You have nothing to lose to apply today.

Can I be approved for a merchant account if I am just opening my business?
Yes. We specialize in setting up start up businesses with merchant accounts to accept credit cards.

What is included with my Internet merchant account?

You get four things with an online merchant account:

  • You will be setup with a merchant account
  • You will receive either a Global Gateway or Authorize.net® payment gateway to accept credit cards
  • You will get a virtual terminal to process credit cards manually
  • You will receive HTML script to integrate into the order form on your website allowing for 24-7 customer ordering without you having to accept and process the credit card transaction manually.

The Global Gateway Secure Payment Gateway has the ability to accept checks online (this feature is not included in the basic pricing for an Internet merchant account). In order to accept checks online you will first need to apply for and obtain an Internet merchant account. Once you have obtained an Internet merchant account please call 888-760-1700 to add check acceptance to your Internet merchant account.

Do I need a shopping cart for my Internet merchant account?

No, you will receive HTML scripts that you can use to pass your customer's credit card processing information to our online payment gateway. However, merchants that have a large number of products may find it easier to use a shopping cart. If you only need a virtual terminal to accept credit cards manually then you do not need a shopping cart.

How long does it take for my credit card processing transactions to get funded?

Your credit card processing transactions are funded usually within two business days.

What if I need help with my merchant account?

We have a toll free 800-number where we have employed over 200 customer service representatives to assist you 24 hours a day, 7 days a week... in more than 140 languages and dialects! We also have an invaluable online resource which allows merchants to view their merchant account information 24 hours a day from any location that has internet access.

Will I know how to use the swipe terminal?

Once you receive your credit card machine you will receive a quick reference guide that shows you how to operate the terminal. In addition, we provide a toll free customer support number you can call 24 hours a day, 7 days a week, so you can get help with your credit card machine or merchant account at any time.

What type of merchant accounts do you setup?

We provide credit card processing for many business types. We set up merchant accounts for retail businesses that have customers that will swipe their credit card through the credit card machine at the point of sale. We also set up businesses with an Internet merchant account for merchants that want to accept credit cards online through a virtual terminal.

We also setup businesses to accept credit cards with a wireless credit card machine. This merchant account is for businesses that are mobile and want to take their credit card machine to their customer for mobile credit card processing.

Finally, for businesses that do mostly mail/ telephone orders we can set them up with a merchant account in one of two ways. They can purchase a credit card machine and manually enter the credit card processing information into the credit card terminal. Or they can get an internet merchant account and accept credit cards manually over the Internet though a virtual terminal.

An Internet merchant account has the benefit of no application or setup fees. However, there is a monthly cost for the online payment gateway. If you decide to purchase a credit card machine you have the cost of the credit card machine but you don't have the monthly online payment gateway cost.

How long does it take before I can accept credit cards?

Accounts that are auto approved can process the next day.

How does the Internet merchant account integrate with my Website?

To manually process credit cards you do not need to do any integration. You log on to a secure website and process the credit card transaction using your virtual terminal. In addition, to enable you to accept credit cards from your customers on your website, you add HTML tags to your website. Your customers will then be able to make purchases from your site 24 hours a day. When a purchases is made, both you and the customer receive an email detailing the transaction.

What is Instamerchant, LLC's return policy?

Instamerchant, LLC. accepts returns provided the conditions below.

  • We will accept returns within 30 days of the shipping date.
  • Software and set up fees are non-refundable.
  • Although defective credit card machines are returnable, the credit card machine must not be damaged.
  • Credit card machines must be returned in the original package. All parts, manuals, and cords must be included.

*IMPORTANT* Your merchant account is bound by the terms and conditions of the merchant agreement and is not subject to the return policy.

What do I need to fill out the application for a merchant account?

  • Business must be located inside the United States.
  • Federal Tax ID# (for corporations only)
  • Checking account number and routing numbers on your check (so we know where to deposit your money)
  • Must be 18 years old to apply for a merchant account.

What is the discount rate?

The discount rate is a percentage of each transaction that the credit card processing company charges for the transaction. The discount rate is lower for merchant accounts that have the credit card present and swiped through the credit card machine. The discount rate is higher for Internet merchant accounts because the credit card is not present and thus presents a greater risk for fraud to the credit card processing company.

SSL Certificate