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Will InternetSecure provide merchant accounts so my business
can accept credit cards online?
Yes. InternetSecure will provide your business with Visa,
Mastercard, American Express, and Discover merchant status in
Canadian$ and/or US$. With just one application you can begin
accepting all the major credit cards and currencies you require.
Watch for Interac Online - a new payment option coming soon for Canadian shoppers!
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Are there "prohibited" businesses -
types of merchants you don't accept?
InternetSecure does not offer Internet merchant status for the
following business types:
- Adult Sites (including Adult Novelties)
- Internet Casinos or Gambling of Any Kind, Including Odds Making
- Escort Services
- Out-bound Telemarketing
- Fortune Tellers
- Collection Agencies / Debt Refinancing / Credit Restoration
- Pyramid Sales
- "Get Rich" or "Life Coach" Programs, Books, DVD's
- Sending of Money/Cash Advances
- Sale of Stocks, Securities, Options and Other Investments
- Merchant Account Factoring - accepting payment for products you do not own
- Alcohol, Firearms, Tobacco Products & Drugs and Drug Paraphernalia
- Goods/Services prohibited by law or card associations
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What if my business is on
the restricted list but has existing merchant numbers?
Work with your bank to obtain Internet Merchant Accounts.
You can then take advantage of InternetSecure's payment gateway
services.
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Is there a minimum or maximum
dollar amount we can process each month?
No. There are NO minimum nor maximum processing limits imposed
by InternetSecure. We do however provide a security feature which gives
you the ability to determine the minimum and maximum dollar value order size
you are willing to accept from your online customers.
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Does InternetSecure accept
both electronic and physical delivery businesses? Do you accept
companies selling services and/or tangible products?
Yes. We offer payment processing to electronic and physical
delivery businesses as well as those selling services and tangible
products. If you are an electronic download business, check
out our great PINcode feature!
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Is my business restricted
to sell only to Canadian and U.S. based consumers?
No. You can sell your products or services to any Visa,
Mastercard, Discover or American Express cardholder in the world.
InternetSecure merchants have sold to consumers/businesses in
185 countries!
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Should I choose Canadian Dollars, US Dollars or both?
Make the currency decision based on your specific business requirements.
Depending on where your target customers are located, you should
choose the currency(ies) that satisfy your customer expectations.
Based on our experience, Canadian's prefer to shop in Canadian
Dollars, while US customers and International customers understand
US Dollars best. Still unsure? Contact
us - we would be happy to make recommendations based on
your specific business requirements.
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Won't a Currency Converter
give the correct US pricing for CDN dollars?
No, because Currency Converters are dealing with today's
conversion rate but all transactions are actually settled by
our banks tomorrow! So in order to be accurate you would have
to know the currency rate for tomorrow.
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How does it work if our business
wants to accept both CDN and US dollars?
InternetSecure will provide you with one Merchant Account for
each currency. Then your customers can choose the currency in
which they want to buy. InternetSecure will set up both currencies
for you on our system and automatically generate CDN or US Dollar
online receipts and bill your customer accordingly!
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If we have both CDN and US dollar accounts, will you pay us
in both currencies?
Yes. You will have 2 accounts with InternetSecure, a
CDN dollar account and a US dollar account. Your sales from
each currency will go into each account and the proceeds from
your sales will be deposited to your bank account in that currency.
No losing out on the exchange!
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How do banks around the world
know about my name and currency?
InternetSecure enters all information about your
merchant status on an offsite host computer under a unique set
of numbers, thus identifying you as a valid Internet merchant
for the various credit cards, providing your Merchant Name and
what currency you are selling in.
This information gets passed to the cardholder's bank for authorization
and settlement so the cardholder's bank can print it out on
the cardholder's monthly statement. Beware of payment processors
who process your sales under their company name, not yours!
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What are your merchants'
experiences with chargebacks?
InternetSecure Merchants experience the lowest chargeback rate
in the industry because of our fraud detection and risk management
tools. For all merchants, electronic download and physical delivery,
the chargeback rate is less than 0.2%.
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Why are chargebacks so low
compared with industry statistics?
InternetSecure payment systems and
business practices were designed based on the advice by various
bank security experts, Internet technologists and other credit
card industry experts.
This industry expertise and the key features of our system such
as real-time processing to the consumer's bank, Verified by Visa™ & MasterCard® SecureCode™,
our Risk Management/ Fraud Detection software (developed by
InternetSecure based on our own experiences with the Internet processing
since 1995) have contributed to this low chargeback rate. Check
out our Security Features!
We are very proud of our reputation
in this area and continue to refine our system with the goal
of protecting your business.
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Does my web site need to
be hosted in Canada or the United States?
No, you may have a web site in any country you wish.
You will simply be hyperlinking to us for the secure, on-line
credit card processing, so whether your site is across the road
or halfway around the world InternetSecure can process your
credit card transactions!
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What type of bank account
is required?
The only requirement is that it is a business bank account,
not a personal account. To ensure we are depositing your funds
into the correct bank account, we ask that you provide a copy
of a void cheque with your business name imprinted. If your
company name is not imprinted on your cheques, you can simply
complete and "Electronic Funds Transfer" form or a bank statement.
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How does my business issue
Credits/Refunds to Customers?
Within the password protected Merchant's Area, you can initiate
partial or full refunds to your customers as appropriate. A
great benefit of this feature is that the InternetSecure refund
system protects you from accidentally refunding more than the
amount of the original purchase. Whether you have multiple employees
or just have a large number of orders to manage, this tool saves
you from costly errors!
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What is the name that appears
on my customer's credit card statement?
Your Business Name and Customer Service Phone Number are
displayed on your client's credit card statement.
(I.e. If your company name is Rare Books Inc. then your customers
will see on their next credit card statement "Rare Books
Inc. 800-555-5555". This is very important for two
reasons; it reminds your customers about their purchase
from your company and prevents chargebacks since they are more
likely to remember your company name. Your customer service number
promotes a call to you instead of their bank to dispute the charge if
they don't recognize it. Beware of companies who
process credit cards under their name, not yours!
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As InternetSecure Merchant,
do we have REAL merchant numbers?
Yes. You will be identified to your customers' banks
and credit card companies as CDN or US dollar Internet merchants
with your own unique merchant numbers. YOUR BUSINESS NAME appears
on your customers' monthly credit card statements.
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When does my business get
paid?
Payment frequencies available, include Daily, Weekly, Bi-Weekly,
and Monthly. Most "new" businesses initially qualify for the bi-weekly payment frequency and are
paid every second Friday. High volume merchants with tenure can be
paid daily or once per week.
Businesses with their own merchant numbers get paid as per their agreement
with their banks.
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Are we paid for transactions
a month old or longer like some other vendors?
No. Transactions are paid for the full period immediately up to the
cut off date for the pay period. Online fund reports can be viewed in
the merchant's area providing
full details of all transactions for each deposit to your bank account allowing
you to easily confirm each sale for which you have received funds.
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How do we confirm we have
received all orders?
Each customer that inputs a transaction for approval will be
assigned a sequential sales order number from our system, whether
they are approved or declined. Emails are sent automatically
to both you and your customer. In addition, the InternetSecure
Merchant's Area provides reports containing all information
about the transactions stored by sequential sales order #'s.
You also have the option to use the "Export Script" feature, which passes
data back to populate your own database with the transaction results.
Use the method that suits you best for order fulfillment, accounting,
etc.
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How do we confirm we have
been paid for all orders?
InternetSecure provides "Fund Reports" in the secure,
password protected Merchant's Area. You can reconcile your bank
deposits against the line item detail provided in these Fund
Reports. You'll know exactly what sales you've been paid for.
Unlike some processors, this is a standard features of InternetSecure's
service and is provided at NO EXTRA CHARGE. Save's your time
and money each month!
We already have Internet Merchant
Accounts...
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Can we use our OWN CDN/US
currency Merchant numbers?
Yes. If you have Canadian dollar or U.S. dollar merchant numbers
that your bank(s) have established for use on the Internet,
then InternetSecure can act as your secure, real time transaction
processing network and payment gateway.
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With our OWN Merchant numbers
can you process in both US and CDN dollars?
Yes. Our system can process credit card transactions in multiple
currencies simultaneously.
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Using our OWN merchant numbers,
which credit cards can you support?
Currently we can process Visa, Mastercard, Discover, American
Express, and Diners Club. If you have merchant status for other
cards not listed, please contact us for status.
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Using our OWN merchant numbers,
can you do authorization and settlement for us?
Yes. All transactions are authorized by the consumer's bank
in real-time and settled with your bank automatically at end
of day.
Glossary...
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What is a Visa/Mastercard merchant discount rate?
In simple terms a merchant "Discount rate" is the
amount of money (ie. 3% percent) that the bank/card company
will deduct on each approved credit card transaction. This discount
fee is on the gross dollar amount, including taxes and shipping
if included.
What
is a Clearcopy Request?
This is initiated by a cardholder with their bank disputing
a credit card charge from a merchant. This usually happens for
one of a few reasons. 1) Don't recognize the merchant name.
2) Don't remember purchasing from the merchant. 3) Didn't receive
goods or services. 4) Didn't use their credit card to make purchase.
InternetSecure will produce the receipt for the transaction
on your behalf with all the details about the products, approval
codes and customer info and send this information back to the
cardholder's bank. Points 1) and 2) will usually be resolved
with receipt. Point 3) upon discussion with the merchant and
the customer can usually be resolved either by showing proof
of delivery or re-delivery. Point 4) is more difficult and could
result in a "Chargeback".
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What is a Chargeback / Clearcopy
Request?
A chargeback occurs when a customer contacts the
financial institution that issued their credit card to dispute
a charge to that card.
The bank then issues a "chargeback" (sometimes in
the form of a "clear copy request") which reverses
the transaction and ultimately means that the funds for the
sale are deducted from the merchant's bank account.
InternetSecure's industry-leading
fraud prevention tools provide maximum assurance that your customer
initiated transactions are legitimate, and therefore minimizing
the possibility of a chargeback.
And now InternetSecure includes
Verified by Visa for all merchants,
further minimizing the risk of chargebacks for businesses conducting
non-face-to-face transactions!
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