Credit Card Processing Frequently Asked Questions
Q: How long does it take to be approved for Credit Card Processing?
It typically takes less than 48 hours to approve a new merchant
and get them up and processing.
Q:Do I have to change banks?
No. The deposits are routed to your existing bank account.
Q:How long does it take to receive funds from payments?
Credit card charges are typically deposited between 24 and 48 hours.
Q:What rates will I pay?
We offer very competitive rates and try our very best to beat the
existing rates that you currently pay. All rates are fully disclosed
during the application process.
Q:Are there any other setup fees, internet processing fees, support fees?
No. There are no setup fees, no extra charges for internet processing
or other support fees. All fees are disclosed during the
application process
Q: Which credit cards can be processed?
InvenTrakk can process all major credit cards including Visa,
MasterCard, American Express, Discover, and JCB.
Q: Can Debit Cards Be Processed?
Debit cards that have a VISA or MasterCard logo on the front
can be processed as a credit transaction just like a standard credit card.
However, processing debit cards as a debit and allowing users to type
in their pin number is not supported at this time. We do plan to enhance the credit card
processing to support debit cards in the future at which time we will
also provide a numeric pin pad so the user can type in their pin number
for the debit transaction.
Q: Who actually processes the credit card transactions?
All credit card transactions are processed through First Data Corporation,
one of the largest payment solution providers in the United States.
Q: Do I need any special hardware to process transactions?
Swiping credit cards gets you the lowest rate possible and is also easier
than typing in credit card numbers. So, even though it is not required, a credit card swipe
capable of processing Track 2 Data is highly recommended. You can purchase a swipe directly
from Paulson for $99.00 if you do not have one already. Also, you need to print
receipts so your customers can sign their credit card transaction. Because of this, you
must have the InvenTrakk approved Epson TM-T88III or Epson TM-T88IV sales receipt printer.
You may also purchase this printer from us if you do not already have it.
Q: Can I have some technical details?
InvenTrakk connects securely to a local software application called the Charge It Pro Server.
All users will be required to install this simple application on machines
that they will use to process credit cards. The application securely transmits credit card information to the processor for quick and immediate
processing. The transmission is sent directly over your internet connection and there
is no dial up or VPN required. The transaction is very quick and provides full on screen
details showing whether a card was processed or declined.
Q: How do customers sign for processed Cards?
InvenTrakk will print two copies of the credit card receipt slip
when you take a credit card payment. The sales receipt slip is printed to
the InvenTrakk Epson TM-T88 Sales receipt printer. The user will then
sign one copy, which you will keep and you may give him/her the other
copy to take home.
Q: How Do I Get Started?
All InvenTrakk customers, at the time of this writing on 11/26/2008, will
be contacted by our chargeItPro software partner to ask if you
are interested in getting setup with InvenTrakk's
credit card processing. So someone will be contacting existing customers in the
few weeks following 11/26/2008.
In addition to this, If you would like to call Paulson directly at anytime please do
so and ask for Ben, who is Paulson's resident credit card specialist.
He will be able to answer questions for you and direct you to a specific contact
at the processor for processing rates.