What is a merchant account?

A merchant account is a special account that allows your business to accept credit cards as payment in person, over the telephone, by mail order, or over the Internet. You must have a merchant account if you want to be able to accept credit cards from your customers.

What is an acquiring bank?

An acquiring bank is the bank that holds your credit card merchant account. It is also the bank that transfers funds from your merchant account into your local bank account.

How do I switch my merchant account and a payment gateway?

You can submit your latest month's merchant billing statement online, by fax, or by meeting with a sales representative at your business location. Your account will be reviewed and an analysis will be given for your acceptance.

How do I apply for a merchant account and a payment gateway?

It's easy to establish a merchant account with Nationwide Merchant Services. You can submit an application online, by fax, or by meeting with a sales representative at your business location. Your application will be approved almost immediately, your account will be activated, and, if you're buying or leasing new credit card processing software or terminal equipment, it will arrive in just days.

What is the discount rate?

The discount rate is one of the processing fees charged to your merchant account. It is a percentage of your gross sales.

What is the "per transaction" fee?

The "per transaction fee" is a nominal charge for processing each transaction through your merchant account service.

What is a charge back?

Charge backs occur when a credit cardholder informs the credit card company that the charge was not authorized, or that goods or services were not delivered as promised. Total Merchant Services along with its credit card processors use a sate-of-the-art fraud screening system to help protect you from fraudulent charges. If a customer claims that you did not deliver the goods or services for which they paid, you'll have seven days to provide evidence that the goods or services were received before the cardholder's account will be credited.

How often will I receive funds from Nationwide Merchant Services?

Nationwide Merchant Services will transfer funds from your merchant account to any checking account you designate on a daily basis.

What type of equipment do I need to accept credit cards?

If you have a retail storefront, restaurant, hotel, or service business you can use either a hard-wired or wireless point-of-sale (POS) credit card terminal or a personal computer equipped with credit card processing software. If you have an Internet business, or a telephone order or mail order business, you can use a virtual terminal. With a virtual terminal, you do not need to load any software onto your computer. Since this is Internet-Based software, you simply need access to the internet. Other options include using credit card processing software. This is software that you load onto your computer. Authorizations are obtained by dialing into the credit card processor with your computer modem. Or, you can hand enter (key in) data into a point of sales (POS) credit card terminal.

Why is Nationwide Merchant Services the best choice to be my merchant account provider?

Nationwide Merchant Services provides competitive rates, world class customer services, and fast and easy enrollment.

FREE Equipment - Our Level 1 merchant's qualify for one of our FREE Terminal Placement Programs.

Terminal/Software Costs - We offer our credit card processing terminals and software just over our costs because we know that starting a business can be costly and we don't want to add costs to your business just value.

Low Rates and Fees - We offer some of the lowest rates and fees around because we know that every penny counts.

World Class Customer Service - Nationwide Merchant Services provides customer service via telephone 24 hours per day, seven days a week. Our representatives will help you with questions about transfers of money into your designated checking account, monthly statements, chargeback and retrieval requests, and other issues that face merchant account holders every day.

Fast & Easy Enrollment - If you meet our liberal approval guidelines, your application can be approved quickly and simply. In most cases, we can tell you in minutes if your application will be approved, and can complete the entire process in a matter of days. Applying for an account is easy with our online application. Just complete the application online, print it out, sign it and fax it in. There's no need for original signatures and no expensive overnight deliveries. If you prefer, you can apply in person or over the phone with one of our sales representatives.

Why do I need a separate account for orders I accept over the phone, fax, mail or Internet?

Because you never take physical possession of a credit card so that you can swipe it through a magnetic strip reader, both Visa and MasterCard use different criteria for evaluating risk and have different fee structures for card-not-present transactions.

What is a payment gateway?

A payment gateway links your web site to the credit card processing companies and your merchant account. When your customer enters his or her credit card number on your web site, the payment gateway obtains authorization for the charge and later handles the transfer of funds into your merchant account. Nationwide Merchant Services works with the industry's most widely used and reliable gateways including Authorize.Net, Plug N Pay, and VeriSign Payment Systems.

Do I need to have SSL on my web site?

No. To ensure that your customers are protected when they enter their credit card information on your web site, Nationwide Merchant Services and its payment gateway partners use Secure Socket Layers (SSL) to encrypt sensitive personal information, including credit card numbers. There is no need for you to have SSL on your web site.

How do I contact customer service?

Our representatives can help you with questions about transfers of money into your designated checking account, monthly statements, chargeback and retrieval requests, and other issues that face merchant account holders every day.

What do I do if I have questions about my equipment?

If you have any questions about your point of sale (POS) credit card terminal, need to schedule telephone training for you or your employees, need to replace broken equipment, or need additional supplies, our terminal help desk is here to provide any assistance you need to keep your point of sale terminals up and running at all times.

Are there any monthly fees?

Yes, a Statement/Customer Support Fee is a monthly charge that covers the cost of your statement and 24/7 customer support 365 days a year.

Is there a contract?

Yes, don't let anyone lie to you. Anytime you sign up for a merchant account to accept credit cards (in particular Visa/MasterCard) Visa/MasterCard require the merchant account owner to commit to a 3 year contract.

Is there a cancellation fee?

Yes, it's $295 if you cancel within the first year or $195 if you cancel in the 2nd or 3rd year.

How much does it cost?

It's FREE. There is no cost to establish a new Nationwide Merchant Services merchant account. And, there is no cost to reprogram your existing point-of-sale (POS) system.

How do I get started?

Nationwide Merchant Services welcomes you to call us toll-free at (800) 395-4908 to get started today or apply now

Merchant Cash Advances Frequently Asked Questions

What is the interest rate?

Our program is similar to factoring; therefore there is no set interest rate, only a set cost.

How does it work?

We provide you funds using your future Visa/MasterCard sales volume. We then take a small percentage of Visa/MasterCard processing daily, while you keep all your Amex, Discover, Diners, Cash and Checks. Qualification is determined by reviewing the last 4 months of Visa/MasterCard statements.

How much do I get?

If you provide us with your most recent 6 months of Visa/MasterCard statements you may receive up to $2,500 to $150,000 per incorporated location.

How do I pay back the money?

We take a set percentage daily from your Visa/MasterCard sales.

Do I need to change my processor?

Yes, our processor partner promises to meet your current rate. Merchant Services would not partner with a processor that could adversely affect your cash flow.

What if I don't want to change my processor?

Changing to one of our processors is a part of our funding program. Remember, Merchant Services retrieves the collection amount from your daily Visa/MC sales volume. The processor is required to allow this retrieval to be completed.

What if they don't meet or beat my rate?

We guarantee that we will meet your current rate for processing. You have the choice to not accept the cash advance money.

How long does it take to get the money?

Ten to fourteen business days, provided you complete the paperwork and provide the necessary documents to us today.

Can I get a deal like a bank?

No. Because we are a factoring company. We do not provide bank loans.

I'm not familiar with Merchant Services. Why should I deal with your company?

We have been in business since 1996 specializing in non-traditional funding. Owners use Merchant Services capital to renovate, purchase new equipment and supplies, fund advertising, manage unexpected expenses and seasonal downturns, and free themselves from second mortgage liens and personal guarantees associated with loans. No bank hassles. No collateral needed. Fast un-complicated funding in generally five to ten business days.