Once all required documentation has been received, a new account setup can typically be completed within 2-3 business days. However, there are exceptions.
What will be needed to open a merchant services account?
There are a few items and documents you will need when you open a merchant service account. There are all easy to get to us so that we can get you started!
Interchange are the rates that are set by Visa, MasterCard, and Discover for processing payments by credit cards. Interchange-Plus pricing works by adding a constant, flat margin on top of Interchange rates. Interchange-Plus is the definitely the fairest pricing available to merchants. Why? If you can’t see how much transactions cost your provider, you can’t know what they’re charging you.
There are hundreds of different Interchange rates. Interchange rates will always have two components – a percentage fee of the volume of the sale, and a per-transaction fee.
There are hundreds of different Interchange rates. Interchange rates will always have two components – a percentage fee of the volume of the sale, and a per-transaction fee.
PCI Compliance means your business is abiding by data security standards established by the Payment Card Industry Security Standards Council, and verified as such.
What are card association, card brand or NABU fees or assessments?
Card Brand Fees, also known as Card Association Fee, are the fees that are paid to Visa, MasterCard, and Discover. These are also commonly referred to as NABU fees (Network Access and Brand Usage).
OC Merchant Solutions works with many businesses that are classified as an “Emerging Market” businesses by the Card Associations. This means that these businesses are eligible to receive reduced Interchange rates from Visa, and MasterCard.
