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Wait… So I’m Applying?

by total-apps,

, in Credit Card Processing Frequently Asked Questions Merchant Services Online Payment

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One of the common confusions that we get from clients is that they do not understand they are APPLYING for a merchant account. With the instant approval of services such as PayPal, Intuit, and Square, we can understand the origins of the confusion. So why are you APPLYING when you decide to open a full merchant account?

 

 

 

 

There are a couple of factors.

 

First, there are strict regulations that come from Visa and Mastercard when it comes to the business models…

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What if I Don’t Have Bank Statements?

by total-apps,

, in Uncategorized

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So you’re a brand new business, huh? Let’s say you opened up your very own cake shop. You sell the best cakes in the entire city! You’re off to a good start. But you realize you need to open a merchant account to take credit card payments from your customers. It makes sense. This could (will) lead to an increase in sales.

 

 

But potential merchant account providers need bank statements and you are a brand new business. So what do…

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Why You May Need Multiple Merchant Accounts

by total-apps,

, in Credit Card Processing Merchant Services Online Payment Point of Sale

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The idea and reasoning behind having multiple merchant accounts is a touchy subject in the industry. You’ll hear both sides to why you should and why you should never consider having multiple accounts. We wanted to clear the air, so allow us to address the ins and outs of opening multiple merchant accounts.

 

One of the common reasons we hear in favor of opening multiple merchant accounts is that it will protect the merchant in case of termination. If this…

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Do I Need to Be a Registered Business to Open a Merchant Account?

by total-apps,

, in Credit Card Processing Frequently Asked Questions Merchant Services Online Payment

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One of the most common questions we get when a merchant calls to ask about merchant services is if they must have their business registered to open the account. The short answer to this is “no.” You can simply file as a sole proprietor if you’d like to avoid the set-up of the business.

 

 

 

So how does that look in the application process?

 

When applying for a merchant account, you must provide your Legal Business Name, DBA (Doing Business As), and…

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What in the World is a Payment Gateway?

by total-apps,

, in Credit Card Processing Merchant Services Online Payment Point of Sale

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Since there are so many aspects and levels of merchant accounts and what makes them function, we wanted to help answer some questions you may have. One of the most common questions we get here at Total-Apps when explaining the process of how funds travel from customer to merchant is, “What is a gateway?”

 

 

To put it simply, a payment gateway is an application that provides e-commerce businesses the ability to authorize credit card payments. It is the equivalent to…

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