Ignite Payments
learning center

Ignite Payments
* Applying for a Merchant Account

* Applying for a merchant account is not difficult! It is just one page application form which has to be filled out. A new account is usually opened on the same day that a completed application is submitted.

But when selecting merchant account provider which is best suited to provide a merchant account for your business, you must be sure to ask following questions.

Q: What are the charge or fees for your products and services?

Fees include transaction fees, discount rates and set-up or application fees. Fees range from merchant account provider to provider and varies based on credit history, type of business, transaction volume.

Q: Do you have a minimum transaction number per month?

Most merchant account providers require a minimum number of transactions per month.

Q: What is the time delay between a credit card transactions and the time when the money is deposited into your bank account?

The time delay is usually one to three days.

Q: What storefront solutions, payment gateways, and E-commerce back-ends are compatible with my merchant account?

When conducting real-time processing, your transactions will not execute properly if each of your E-commerce components is not compatible.

Q: What security features do you have?

Your merchant account provider should have ways to reduce the risk of fraud during the transaction process. Namely, they should have software like SSL that will encrypt sensitive customer information.