F.A.Q.'s

Merchant Processing

- If SurfNet assists me in getting a merchant account (direct or 3rd party) is it necessary I only use it with a SurfNet service?

• No, while most of our clients do establish an Internet merchant account for the sole purpose of using it with one of our commerce services this is not necessary in all cases. We have obtained many merchant accounts for clients who run their own services or servers. Most clients prefer to use the merchant services with our services since there is already full integration and the setup time is very fast and tested. 

- How long does it take to get merchant processing setup?

• For direct accounts this process varies depending on the location of the acquiring bank. For domestic accounts it typically runs from 3-10 business days. For international accounts the process normally takes longer and can typically run 10-30 business days depending on the bank and the services requested. For 3rd party processing the setup and approval time is a lot less. Typically 3rd party accounts can be established in 48-72 hours or less.   

- Can I use someone else's merchant account to do my transactions?

• No, this practice is known as "credit card laundering" or "factoring." It is against the Visa and MasterCard agreement. Using someone else's merchant account to process your credit card transactions can lead to heavy fines and perhaps more. In addition, you'll also put that merchant's credit card  processing account in jeopardy.    

- Are Internet merchant accounts compatible with all shopping carts?

• No. Shopping cart companies make their software compatible with certain secure payment gateway. In addition, merchant account companies work with different secure payment gateways so their clients can process credit cards online. It's important to take to find out from your merchant account company what secure payment gateway you'll be using. With SurfNet, we make this process simple in that we support all major Internet gateways with all our core services so most of the work is already done for you. If you plan to use your merchant account with our services all that is required is go gain approval and we can plug in your codes to our system to get you up and running.   

- What are chargebacks? 

• A chargeback is what it's called when a transaction is reversed. In other words, rather than adding money to your account it is deducted. Chargebacks can occur for a wide variety of reasons, such as double charging, credit card expiration, bank error and customer disputes.   

- What kind of transaction reporting is available?

• For direct merchant accounts paper statements and/or online statements are provided. This varies from bank to bank. Most Internet payment gateways have real-time reporting features so you can see your transactions immediately. All recommended banks and accounts SurfNet recommends have these features as we feel it is an essential part of running your business successfully.   

- Do I need to open a new bank account for my merchant account?

• No. All of the funds collected from credit card transactions are deposited directly into the bank account of your choice. You can even have the funds deposited directly into your personal checking account if you are a sole proprietor. Depending on the type of merchant account you obtain these accounts are sent to you via ACH direct deposits or online wire transfer. Some third party processors also offer payment to be sent via paper check or funded to an e-wallet account such as paypal.