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Intellicharge Credit Card Processing

Credit Card Processing Topics
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Credit Card Processing Software Features
Credit Card Processing Comparisons
Credit Card Processing FAQ's
Tips on Credit Card Fraud Prevention

Credit Card Processing FAQ's

  Q & A     

Q.01 When is money settled into my account using IntelliCharge?
A.01 There is a difference between authorization and settlement. Authorizations take place in real-time (meaning 3-5 seconds for approval or decline). Settlements for credit cards are deposited into your account(s) within 24-48 hours. For private label cards and American Express their merchant terms vary, and money is settled according to their merchant payment terms.  
Q.02 What is a discount rate?
A.02 A discount rate is a bank charge on merchant accounts. It is the fee that the banks and credit card companies charge merchants.  Discount rates typically vary between 1.5% to 6%.  However, be careful when evaluating this fee alone as a factor for determining fees paid to a bank or merchant service provider.  Many times, a flat rate per transaction fee and additional monthly fees are involved as well.
Q.03 What is a chargeback?
A.03 Chargebacks are when a customer contests a purchase made and charges the purchase back to the merchant. At this point the customer and merchant bank must review the case, and determine the customer’s claim that the purchase did not take place.
Q.04 Does IntelliCharge approve credit card numbers?
A.04 In actuality, the banks do. Our role is to securely transport the credit card information to the banking network and payment processing gateways for authorization and then return it to the customer and merchant. 
Q.05 What does real-time processing mean?
A.05 Real-time processing is a method by which transactions are approved “on the spot”. Customers receive an approval or decline message within 3-5 seconds.
Q.06 I have several locations that are all networked together.  Can I process credit cards at different locations and use different merchant accounts?
A.06  Yes.  Some companies prefer to open up separate merchant accounts for different locations in order for the monies to be settled into different commercial bank accounts.  Intellicharge allows one unique merchant account per company  and per workstation.
Q.07 What kind of security feature does Intellicharge provide?
A.07 Intellicharge encrypts all credit card and electronic check  information for transport using the widely accepted SSL technology.
Q.08  How simple is it for dealing with returns or refunds?
A.08  Each transaction that is processed through the Intellicharge interface returns a unique Gateway transaction Id.  This Id is internally recorded and serves as reference to the original invoice transaction.  Intellicharge seamlessly handles all of the communication with the payment processing gateway for properly refunding partial or entire transactions using this Id.  Bottom line, the entire process of reversing an invoice is completely transparent to your employees.
Q.09  What is the average speed per transaction over the internet?
A.09  Intellicharge transactions average around 3 seconds for authorization.   This is typically much faster than your traditional pos terminals.
Q.10 Does Intellicharge offer something to prevent fraud?
A.10  Automatically included with the Intellicharge interface is basic fraud screening tools including AVS (address verification system), Visa's CVV2 and  MasterCard's CVC 2.   These proven tools can filter out most fraud, and are available to you at no extra cost.

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