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- What is Merchant Processing?
The term covers all methods of electronic payment acceptance. It is a separate and distinct business line from card issuing.
- What are the cost for your processing services?
Pricing is based on factors such as type of industry, method in which payments are accepted, card types accepted and a number of other variables. A Ferrari Merchants sales consultant can provide you with a personalized quote. Simple fax your statements to 281-664-5817 .
- How long will it take to process my merchant application?
Once we have received your complete application and other supporting documentation, the approval process takes 24-48 business hours. After your application has been approved, it usually takes just a few days to establish the actual account, deploy or reprogram your equipment, and to arrange for any required training.
- What is the difference between qualified?
Qualified- When the card is swiped through the terminal and the magnetic strip is read.
- What is Mid Qualified?
Mid Qualified- This downgrade is when a card is a reward card, or it is a keyed in transaction with AVS( address verification service)
- What is Non Qualfied?
Non-Qualified- This downgrade is either a keyed in transaction with no AVS or a corporate card.
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