Frequently Asked Questions About Merchant Processing | TekCard Payments

How do I apply for a merchant account?

Give us a call at 1-844-TEK-PYMT or click here to fill out a merchant account request form and we can get you up and running within 24 hours!

How long does the approval process take?

Once your application is complete, the processing time is usually 6 hours or less, especially if we receive your application before 3pm EST. If approved, we will promptly inform you of your acceptance and deliver the terminal equipment or software.

What does TekCards 30-day risk-free trial mean?

We want you to be comfortable and happy with you payment processor. We give our merchants 30 day no contract no obligation risk free trial so you can get to know us and our excellence in service. Your rates are locked in from day 1 for the life of your merchant account with TekCard Payments.

What kinds of businesses does TekCard accept as clients?

We accept retail, restaurant, hospitality, professional service providers, trade shows, mail order, telephone order, Internet based, and home-based businesses. We do not accept adult-related businesses.

Do I need a business license to obtain a merchant account?

You do not necessarily need a business license, although it is a document that would satisfy the Premises Inspection Requirement. You do not need to have a business license if you can provide a different acceptable core documentation item that is required. These items vary depending upon the level of risk associated with your business.

Do I need a business checking account to obtain a merchant account?

You only need a business checking account if your business is set up as a corporation. If it is a sole proprietorship, you may use a personal checking account or a business checking account.

What if I have less than perfect credit?

Technically, your personal credit score does not affect your merchant account rates nor does it mean a decline of approval. We can sometimes approve a merchant account application despite a low personal credit score by putting other stipulations in place.

What credit cards will I be able to accept with a merchant account from TekCard?

TekCard can set you up so that you can accept MasterCard®, Visa®, American Express®, Discover® and PayPal™ In Store, as well as bank ATM debit cards. We also provide check services, ATM services, gift cards and loyalty programs.

Do I need to have an American Express® or Discover® account before I apply?

No, you do not. We can do all this for you.

My website isn’t ready; can I still qualify for an account?

Yes, we can accept temporary websites, something very basic that shows product and pricing. It does not have to be live to the public, but it should show enough to give us a sense of what you are selling and for how much.

Can I use a smartphone or tablet to process credit cards?

Yes TekCard Mobile and Payeezy Gateway platforms are at your disposal!

How will I receive the proceeds from my transactions?

TekCard payments offers 24 hour deposits on all funds as long as your batch is closed by 8pm EST. Some business types may take up to 48 hours.

Is there a customer service number I can call if I need help?

Yes we are here to help you 24/7 give us a call at 1-844-TEK-PYMT

Will I receive a monthly statement?

Yes! You may also login to your merchant portal to view details of live batches and history for statements and transactions going back 18 months! “Click Here” to access the merchant portal.

Do you accept foreign businesses?

We process anywhere in the U.S and Canada.

What is the discount rate?

The discount rate is the fee that a merchant pays to the acquirer for processing services that enable the merchant to accept bankcards as payment. Our discount rates are extremely competitive.

What is the Address Verification System?

If you sell mail order/telephone order, or through the Internet, you don’t want to send a product to a false address and have a risk of receiving a chargeback. The Address Verification System (AVS) lets you enter the customer’s home address and compares it to the address on file with their credit card company. If someone uses a stolen card, and wants products shipped to a false address, AVS will help detect this for you.