» What is a merchant account?

A merchant account allows a business to accept credit cards, debit cards, gift cards and other forms of payment. This process has many pseudonyms, among them, payment processing or credit card processing. Merchants, or business owners who wish to accept credit card payment for goods and services, must apply for a merchant account, usually through a merchant bank or MSP (Merchant Service Provider).

» What is an acquiring bank?

A financial institution that provides customers with the ability to process credit card transactions. Acquiring banks are charged by Visa and/or MasterCard for processing and these charges are passed along to the merchant.

» How are transactions processed?

Once you are a merchant account holder, you can begin accepting credit card payment online. The transaction is approved electronically, then processed by your bank and deposited into your bank account.

» How does the Credit Card system protect merchant and consumer?

Through transaction approval, an agreement between consumer and merchant is reached. The consumer agrees to pay for goods. In exchange, the merchant agrees to deliver them as advertised. A merchant is subject to penalties for non-delivery, or if goods are services are determined to be faulty. Consumers are permitted to request a refund for purchase from their credit card company at any time. This is called a chargeback, and they are hefty concerns for merchants.

Chargeback risk varies, depending on numerous factors including industry, product, service and the degree to which goods are delivered as promised or as advertised. Sadly, there is no way a credit card system can ascertain the level of a merchant’s end-user commitment, so it is vital that merchant accounts remain in good standing with the sponsoring bank as well as all parties involved. All fraud protections are in place to protect both consumer and merchant.

At the end of the day, the main goal of the credit card processor is to act as a conduit, connecting Merchant and Customer to one another while providing a safe, efficient forum for the purchase and sale of goods.

» When do I get paid?

Payment timelines are unique to each merchant, and dependent upon conditions of the acquiring bank and the nature of the business itself.

» If I have no merchant account, can I use your service for credit card processing?

ISTBill can help you establish a merchant account. We offer comprehensive solutions for credit card and alternative processing. You can take advantage of one of our merchant accounts and/or our billing software, which can be used as gateway to connect directly to our system.

» Can you help me open my own merchant account with a personal bill descriptor?

Yes. ISTBill offers all merchants the option of opening direct merchant accounts with unique, personalized billing descriptor.

» In what currencies can you process transactions?

We process USD, EUR, GBP.

» Are there monthly processing maximums?

No! With ISTBill, there are no barriers to your success. No monthly maximums will be imposed on your merchant accounts ever.

» What exactly is a membership and why would I want it?

Membership system will allow you to sell content. For example, in order to access certain web pages you would need a password. The membership system allows you to sell access or permission to view certain pages.

» What credit cards do you accept?

We currently accept Visa, MasterCard for instant online sales.

» Do you accept merchants outside of Canada and United States?

Yes, ISTBill accept merchants in any countries.

» Do you accept both electronic and physical delivery merchants?

Yes, in many cases our merchants will offer both electronic download and physical delivery of products or services from their sites

» Do you have a holdback on sales income?

A security deposit is required for all accounts. Currently we deduct 10% (depends on business type) for holdback fund. Holdback fund returned to you within 6 months.

» Can I check my sales statistic at any time?

Yes, you can check your sales statistics at any time by simply log-in our Merchant Control Panel.

» What is a chargeback?

A chargeback is a forced refund from a customer's credit card company. It occurs when a cardholder decides to formally dispute a charge on his/her credit card bill, often because of someone fraudulently used that card number. According to credit card associations rules, Internet merchants must accept credit card fraud as part of the normal risk of doing business on the Internet. The amount of credit card fraud highly depends on your business nature. To reduce chargebacks, try to collect as much information as possible from your customer, and perform a phone order confirmation. If the order is found to be valid, then proceed with the order. A chargeback fee is a penalty fee that passes on to the merchant.