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Transaction Processing Help What type of cards can I accept from my customers? How long does it take before I can begin processing credit cards? What is Interchange and how does it work? How long does it take to get my money? Terminals Purchasing Help Do the Terminals have a warranty? What type of cards can I accept from my customers? You can accept Visa®, MasterCard®, American Express®, Discover®, Diners Club®, JCB® and debit cards. NOVA can set you up on Visa, MasterCard, American Express, and debit cards. The other card types will require you to enter a contract with the appropriate group. Once you have established an account with them NOVA can facilitate the clearing of their transactions through our processing system How long does it take before I can begin processing credit cards? It takes approximately four to six business days to get set up, depending on the type of processing you do. However, if you need to be approved sooner, we will make every effort to accommodate you. What is Interchange and how does it work? The definition of interchange is as follows: Interchange is the fees associated with exchange of transaction data between Acquiring and Issuing institutions in accordance with the Visa and MasterCard bylaws and rules. Interchange is the processing fee charged by Visa and MasterCard to charge the cardholders and pay the merchants. The interchange fee is actually paid to the bank that issued the card while the merchant's bank is charged the interchange fee. Merchants' transactions are gathered for processing every night; these transactions are routed to the cardholders to be charged and merchants are credited accordingly. How long does it take to get my money? Funds are electronically settled within two business days. Some high-risk businesses may have different settlement options. < Do the Terminals have a warranty? All equipment purchased through TerminalsForLess.com comes under manufacturer warranty. TerminalsForLess.com will handle replacement and warranty work for the first thirty days after purchase. After thirty days, we help customers contact the manufacturer for all warranties. New/Unopened equipment may be returned within the first thirty (30) days of purchase. (A restocking fee of up to 35% of the purchase price will be applied because our distributors and manufacturers charge us the restocking fee) Software and used equipment sold through TerminalsForLess.com cannot be returned for a refund.

 
 

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