What is a merchant account?
What are the requirements to open a merchant account?
Do you accept all types of merchants?
What types of processing solutions are available?
What is the typical cost?
Will changing my merchant account to PPI cost me more than my current provider?
Will changing my merchant account require me to change my banking relationship?
Can you describe the application and set-up process? How long does the set-up take?
Will someone help me install my equipment or software?
Who do I call for technical support and banking inquiries?What are your hours?
What credit cards can I accept?
When can I expect money from my credit card sales to be available in my bank account?
How does PPI make money?
Why is PPI recommended by my software developer over local providers?
What is a merchant account?
A merchant account is a bank account that you must have to accept electronic card payments from customers such as credit cards, debit cards, electronic checks, gift cards, and other payment methods. PPI establishes a merchant account on your behalf when you qualify for our payment processing services.
What are the requirements to open a merchant account?
You will need to fill out a 2-page application. Depending on various criteria, you may be asked for personal information, a guarantor signature, samples of your advertising and/or other business verification materials.
Do you accept all types of merchants?
Most merchants qualify. You must have a bank account in the United States and a Federal Tax ID Number. Some types of businesses are ineligible for our services, including foreign businesses that do not meet these criteria and those involved with gambling, X-Rated content, drug paraphernalia, and other restricted or prohibited category merchants.
What types of processing solutions are available?
There are three different credit card processing options:
- Integrated Software
Many software companies with industry-specific applications (e.g. restaurants and dry cleaners) have worked with PPI to integrate a special software program that transmits the payment transaction from their application software to the card networks (e.g. Visa, MasterCard, Discover). With integrated software, productivity and efficiency is improved with features such as batch processing, multiple merchant accounts, simultaneous transactions, import/export data, maintaining customer databases (for recurring and installment billing), improved reports and monitoring transactions for fraud.
- Online Gateway
PPI PayMover is an online payment gateway that links your point-of-sale system directly to a credit card processing network, which includes your merchant account. When you accept a payment transaction and enter the information into your point-of-sale system, the information is sent to the payment gateway, which obtains authorization for the transaction. Once authorization is received your end-of-day settlement & reconciliation processes are managed through the gateway. With an online gateway, transactions for multiple locations are managed through a single source using online merchant administration. Merchants with high performance and high capacity needs can process transactions within seconds using an online gateway.
- Basic Credit Card Terminal
A terminal is commonly used when merchants do not utilize PC-based systems. Card present and card not present sales are processed through a POS terminal. Terminals are limited to authorizing one sale at a time, provide only simple paper reports, and generally use dial-up connectivity, which is considered to be slow by today’s standards.
What is the typical cost?
PPI establishes your account without charging an application fee. Set-up costs, transaction fees, and discount rates vary depending upon the customized solution you choose. Configuration, transaction testing, training and ongoing technical troubleshooting with PPI is FREE for the life of your merchant account.
Will changing my merchant account to PPI cost me more than my current provider?
No. In most cases we insure that your rates will not change. If our analysis verifies that your rates are high, your lower expenses become another reason to use PPI!
Will changing my merchant account require me to change my banking relationship?
Absolutely not! PPI will work with the depository (checking, savings, money market, etc.) account of your choice.
Can you describe the application and set-up process? How long does the set-up take?
You will be assigned a dedicated Account Manager whose responsibility is to make the application process straightforward and simple. We will mail, fax, or email you an application package which includes an application form, agreement, billing information and business verification requirements. We even give you a handy checklist to keep track of what you need to return!
Will someone help me install my equipment or software?
Yes! The integration experts at PPI walk you through the entire configuration and testing process so you’ll be up and running in no time.
Who do I call for technical support and banking inquiries? What are your hours?
PPI provides complete administrative support (Monday-Friday, 7:30am-5pm PST) for all banking and transaction issues, as well as 24/7/365 technical support.
What credit cards can I accept?
Common cards accepted are Visa, MasterCard, American Express, Discover, JCB, and Diners Club.
When can I expect money from my credit card sales to be available in my bank account?
Electronic processing enables banks to process transactions and credit your account quickly and efficiently. Funds are usually deposited in your business checking account within two business days after you’ve batched your daily business. We suggest you check with your bank on its policy regarding availability of deposited funds.
How does PPI make money?
We earn our income by providing merchant accounts, so we add no additional layer of cost. For the same rate & fees you pay a “data processor” you get the added benefits of PPI – integration, configuration, testing, training, troubleshooting, fraud monitoring and administrative support – without any additional charge.
Why is PPI recommended by my software developer over local providers?
For more than 10 years, PPI has joined forces with hundreds of software developers to integrate electronic payment processing with their applications. Developers experience first-hand the depth of our technical expertise, our specialized support and our unwavering commitment to customer service, and are confident that PPI will provide their customers with the same legendary support.
