Do you have Questions? We are here to answer them!

FAQs

Q. Where do I order Paper and Supplies?

Contact us anytime at supplies@paymentsolutionpros.com

Q. What is PCI?

The Payment Card Industry Data Security Standard (PCI DSS) is a set of requirements designed to ensure that companies that process, store, or transmit credit card information maintain a secure environment.

Q. Do I need to be EMV compliant?

The major credit card companies have set October 2015 as the date for a shift to EMV acceptance by most merchants in the United States. (Pay-at-the-pump gas stations have until October 2017 to upgrade to EMV acceptance.)

Starting in October 2015, merchants will be required by the credit card companies to utilize EMV-capable point-of-sale equipment. Merchants who do not comply will be responsible for the costs associated with accepting fraudulent transactions. Essentially, the liability for fraudulent transactions will switch from the processor to the merchant. Credit card companies refer to this as the liability shift. Merchants who comply with the EMV mandate and utilize EMV-capable terminals will not be subject to the liability shift; liability will remain with the processor.

Credit card companies requiring EMV acceptance in October 2015 include Visa, MasterCard, American Express, and Discover. Maestro has already shifted liability to merchants as of April 2013 for Maestro cards in the United States.

As of March 2015, there is no U.S. government mandate regarding adoption of EMV technology. The October 2015 mandate is an industry regulation.

 

Q. What kind of training do you provide?

Thitonia LTD offers credit card terminal training and reprogramming for credit card terminals, and virtual terminals to better assist our merchants. We are available to train you and your staff as much or as little as you need.

Q. What is chargeback?

Chargebacks are transactions that are disputed by the cardholder or the cardholder’s issuing institution. A chargeback occurs when a cardholder disputes a charge or when proper card acceptance and authorization procedures were not followed. When a merchant receives a chargeback, its deposit account is debited for the indicated amount. In addition to the chargeback, the merchant may incur a fee if he failed to follow card acceptance and authorization procedures. Reasons for chargebacks include a cardholder dispute or an error in handling on the part of a merchant’s staff. Obtaining proper authorization and adhering to correct processing procedures can minimize chargebacks.

Q. How often should I batch?

We recommend that you batch your transactions every day.

Q. Should I connect my terminal through a phone or Internet line?

It is personal preference, but the choice could ultimately depend on what type of credit card processing machine you decide to get for your business. If you opt to use a telephone line, be sure to have a dedicated landline because things like call waiting and other incoming calls can interrupt, or cancel a transaction. A number of businesses prefer using an Internet-connected terminal for faster transactions and don’t need to dedicate a landline for their terminal.

Q. What is Near Field Communication (NFC) and how does it work?

NFC allows two equipped devices that are placed near each other to exchange bits of data. For this to work, both devices need an NFC chip. These transactions are considered safe because it creates an unique digital signature.

Q. What is an Issuer vs. an Acquirer?

A financial institution that maintains the merchant credit card processing relationship and receives all transactions from the merchant to be distributed to the card member banks is an Acquirer. An Issuer is a financial institution that issued the credit card to an individual or business.

Q. How soon will I get my deposits?

It will take 48 hours, or Next Day Funded (except on banking holidays) if your account qualifies after you settle/batch your POS for your funds to post to your bank account.

Q. What is the length of my Merchant Agreement?

While most merchants prefer to lock in their 3 year pricing, many merchants qualify for our month-to-month program!

Q. Why am I being charged a PCI fee?

The Annual PCI Service Fee is assessed to mitigate the costs associated with becoming and maintaining compliance, updating terminal software, and replacing non-compliant hardware. This fee is standard across the industry.

Q. Why do I need to be PCI compliant?

PCI compliance is required for anyone that accepts, stores, or transmits payment card information. The PCI mandate is part of the Card Brand operating regulations under which businesses or individuals are allowed to operate merchant accounts and accept cards for payment. The terms and conditions you sign when you open an account with us state that Card Brand operating regulations must be adhered to. For more information visit https://null.null/null