1. Are there some merchants you
do not accept?
2. Do you accept merchants Worldwide?
3. Do you differentiate companies registered offshore and
onshore? If so, how is it reflected in your discount rates?
4. What is a virtual terminal? What are the advantages of
5. Are there any limitations to the choice of the bank I want
to use for credit card processing purposes?
6. Will I have my own merchant ID number? How will the
customer know that he/she bought goods from my company?
7. Is there any minimum/maximum volume processing per month
8. When does the merchant get paid?
9. Do you provide technical support with integration of our
website to start accepting credit cards?
10. What is a rolling reserve?
11. What is a VU number? Do I have to have it and how would
it effect my customers' statements?
1. Are there some merchants you
do not accept?
As we stressed on our website, we judge each application on its individual
basis and do not have any prejudices against any type of business,
providing it is legal and profitable.
2. Do you accept merchants
Not at this time. Your business must be incorporated or has a branch (or
subsidiary) in one of the following countries or territories:
Andorra, Austria, Belgium,
Cyprus, Denmark, Faeroe Islands, Finland,
Gibraltar, Greece, Greenland, Iceland, Ireland,
Isle of Man, Liechtenstein, Luxemburg,
Monaco, Netherlands, Norway, Portugal, San Marino,
Sark, Spain, Sweden,
Switzerland, United Kingdom, Vatican City. But you should consider an
option of incorporation in any European country or better in the European
Offshore Tax Havens (above marked bold) under the name of your existing
company (or any other suitable name). We can put you in the right
direction with this matter in almost any country in Europe and you will be
able to incorporate or set up a branch for your business very fast and
3. Do you differentiate
companies registered offshore and onshore? If so, how is it reflected in
your discount rates?
No, we do not. We offer the same rates and conditions for offshore and
onshore companies. But please bear in mind that we only work with offshore
companies incorporated in the following jurisdictions: Isle of Man,
Jersey, Guernsey, Sark, Alderney, Andorra, Cyprus, Malta, Madeira and
Gibraltar. If you require some assistance with incorporation there, we can
recommend you reliable incorporators.
4. What is a virtual
terminal? What are the advantages of having one?
A virtual terminal is a way of credit card processing over the phone, fax
or e-mail. It is very useful for clients who accept credit cards not just
on line but by other means of communications described above.
5. Are there any
limitations to the choice of the bank I want to use for credit card
No, there are no limitations to your choice of a bank. It could be outside
6. Will I have my own
merchant ID number? How will the customer know that he/she bought goods
from my company?
You will have two options to choose from. One is to use our name as your
merchant processors. It is a faster option, but your client will not see
your name on their credit cards statement, which in effect can cause more
Second option is to apply for a merchant account ID number in your own
name and then the clients will see your company name on their statements.
It will take slightly longer (usually up to one week), but it is worth
7. Is there any
minimum/maximum volume processing per month restrictions?
No, there are no volume restrictions.
8. When does the merchant
The merchant gets paid once a week on Friday for the previous week. For
high volume merchants with processing volume of 200,000.00 USD/Euro and
above per month,
settlements can be arranged to be done on a daily basis.
9. Do you provide
technical support with integration of our website to start accepting
We will provide you with instructions how to integrate your website, which
is sufficient to your webmaster to complete the task in a few hours. But
you can always ask for some technical support.
10. What is a rolling
A rolling reserve is a
percentage of your total sales which is withheld by a credit card
processor for six months in respect of possible future chargebacks. In
month seven of your trading your rolling reserve will be released to you
for the first month of trading, in month eight your reserve will be
released for month 2, so you will always have a reserve of six months due
to you. The reason behind it is very simple - the customers can do a
charge back for the services or goods you provided to them.
11. What is a VU number?
Do I have to have it and how would it effect my customers' statements?
Credit card billing requires a credit card acceptance contract, which in
effect means that you have to have a company vendor number (VU). You would
be able to accept cards by using your own merchant VU number from any
website that legally belongs to your company. If you want your clients to
see your company's name on their statements, which normally minimizes the
chargeback fees, you have to indicate that to us so we can arrange it for
you. Please note that it will prolong the merchant application process.
Apply for your
Merchant Account today!
(You are under NO obligation to proceed
with our offer for merchant account, so why not to try it?)
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