FAQ-Web Services
1. Why do I need a website?
The traditional word word-of-mouth marketing is not enough anymore. People go Google, Yahoo and search on the internet to explore new restaurants near them so if you do not go online, people just simply can't find you.
2. What websites you can provide us?
We offer 4 types of websites. The most economical and quick way is to choose the 'Presentation Websites' samples from our www.fpwebsite.com. In addition, you can also have flash, customized ecommerce websites based on your requests. You can contact us for details.
3. Are the fees the same for both retail and internet transactions?
Fees for internet merchant accounts would not be the same as a retail merchant account due to the difference in the business types and environments. In order to best determine if a retail or an internet account would fit your business needs or if you are interested in setting up an internet merchant account and discussing the fees please contact our Sales Team at 718-972-2577.
4. What is a statement fee?
A statement fee is for the monthly service of compiling the transactions and activity on your merchant account for the respective month. The statement also serves as an outlet to provide you with important messages and issues that may concern your merchant account. Please review How to Read Your Statement for further detail on fees listed on the merchant statement.
5. Can I view my account information online?
Within the next 30 days, you will be able to view your daily, monthly, and yearly transaction information as well as monthly statements. In order to have this access you would need to contact the customer service department at 718-972-2577
6. What is the role of batching in credit card processing?
After a credit card transaction has been authorized at the point of sale, the transaction is then stored in the credit card terminal in a batch. Closing the batch ("batching out") is done to transmit all the transactions to the processor to receive payment. Most merchants submit their batches to their credit card processor at the end of their business day. If the transactions are not batched out then you cannot receive payment for the sales you received.
7. How long does it take for me to receive payment in my bank account?
Once you close the batch the normal timeframe to receive payment is within 24 to 48 business hours. The timeframe of receiving deposits also depends on how your merchant account is approved.
8. What is the difference between a Chargeback and a Retrieval?
A Chargeback is a reversal of a credit card transaction initiated by the cardholder or the issuing bank of the credit card. A chargeback usually occurs when a cardholder files a dispute with their issuing bank because the cardholder has discovered fraudulent or improper transactions on their credit card. At the point of a chargeback there is a financial impact to the merchant's bank account. A Retrieval occurs when the cardholder and/or the issuing bank requests a copy of the transaction document supporting the charge to the cardholder's account. The Retrieval Process is prior to the chargeback process and there is no financial impact to the merchant's bank account.
9. What is CVV and how does is help a merchant?
CVV is an acronym for Card Verification Value. The CVV is an anti-fraud security feature to help verify that the cardholder is in possession of their credit card. Each credit or debit check card is given a specific three digit code which is included on the back of the card within the signature panel. CVV is the acronym for Visa cards. CVC (Card Validation Code) is used when referring to a MasterCard and CID (Card Identification Number) is used when referring to Discover cards. CID also refers to American Express cards in which the code is on the front of the card and is four digits long.
10. Does EBS charge a termination fee?
The merchant processing agreement also serves as a contract to provide services which is usually for three to five years. If services are cancelled prior to the expiration of the contract, there is a cancellation fee applied based on the yearly processing volume.