Frequently Asked Questions 


Your funds will typically be deposited in your bank account the next business day after performing a batch close. The exact time of the deposit depends on the time of the batch close and the financial institution where your funds are deposited.

If you are using the Amex OptBlue program through us, your American Express deposits will be included with your Visa/MasterCard/Discover/Interac transactions, typically next business day after batch close.  If you have a direct account with American Express, the settlement cycle is governed by your processing agreement with American Express.

We are partner with over 2500 financial institutions and banks, Simply call our customer care and we’ll walk you through the process. This type of change can only be authorized by the account owner and usually takes 1-2 business days to be implemented.

We require a business bank account at any Canadian financial institution, not a personal bank account. The currency of the bank account must match the currency of the merchant account (i.e. CAD deposited into a Canadian dollar bank account and USD deposited into a US dollar bank account). To ensure that we are depositing funds into the correct bank account, you must provide a void cheque with your business name and address imprinted. If your company name and address is not imprinted on your void cheque, additional supporting information will be required.*Note:You can provide direct deposit form with bank stamp instead of voided cheque as well)

You can take your solution with you. All you will require at your new location is the same connectivity you had at your old location – a working phone line, internet connection, or access to the wireless network. Simply call our customer service department at to update the address we have on file.

Interchange is a charge that is paid to the issuing bank of the credit card for that transaction. It is put into different categories depending on the way the transaction was accepted as well as the type of redeemable points that were collected for that purchase. The interchange % is same among all issuing banks, this information is readily accessible on the Visa/MC website.

Assessment fee or Card Brand fee Is the percentage that is charged by Visa,MC and Amex based on the gross transaction volume for all transactions. This fee is depend s on which card brand consumers use and how much they pay to merchant

Payment Card Industry Data Security Standard (PCI) : This fee is charged by ALL credit and debit merchant-processing providers. This fee is to keep the devices used for transactions secure and up to date with government security standards.

PCI Non-Compliance Fee is a fee charged by merchant services providers to merchants who have failed to validate that they are in compliance with the Payment Card Industry Data Security Standards Counsel's (PCI DSS) security requirements for their business type. Merchants have to verified their compliant by answering the questions on PCI Compliant Manager's website, sometimes the questions takes very long if you don't know how to follow the process.You need help? Call us now.

If you are a merchant, it may be something frustrating for you. You may call it a threat to your business, your goodwill and trust. If you are a customer, a chargeback has a different meaning for you. You may term it as a shield that offers you protection from dishonest business owners.

To simplified it when the consumer ask the issuing bank to get their money back from the merchant.

Read more about chargeback here

by default most of the merchant processing companies in Canada only offer refund on Credit cards, refund on debit needs an approval from the processing company and it is not available by default on terminals.

basically as the refund on debit is not activated for all merchants, there are three options instead:

  • Void the debit transaction (this is only available if the debit transaction happened in same day as refund/void)
  • Issue the store credit by gift card
  • Refund on credit card instead of debit card

Usually refund on credit or debit cards takes between 3 to 15 business days to reflect on your online banking.

Is the average percentage that is paid to payment processing company  for all cumulative cards that were taken for that particular month.

This means that the processor expects this merchant to pay at least X amount of dollar in discount rate charges during the month.

Example: if you have $25 Minimum MDR it Is only applicable to you if you do not produce a minimum of $25.00 in MDR revenue. This is combined revenue of the MDR produced from Visa/MasterCard sales.

Authorizations fee: a transaction fee for every time the terminal contacts the merchant processing's servers.

Per item fee:a transaction fee for successful interchange category transactions

Example:If transaction get declined (due to not sufficient found) you get authorization charge but not per item.

Is a fee for every time the business owner closes out their batch and sends the funds into their bank account.TD bank usually charges settlement fee.

We don't charge any customers of us for depositing there batch into their bank.

This fee is for non-qualified cards, usually it is an additional charge that the merchant pays to the issuing bank, for the redeemable points the customer received for making that purchase

If a merchant chooses to cancel during their term they will incur a penalty.Its veriest for each processing company

here is how much each processing company charges:

  • TD merchant services:$300 penalty
  • First Data :$500 Penalty
  • Global Payment:$500 Penalty
  • Chase paymentech:$300 Penalty
  • Monaris:$50 Restocking fee (per terminal)
  • Elavon:0$ No cancellation fee

It is a merchant rights under the Code of Conduct for the Credit and Debit Card Industry in Canada.Basically The Code of Conduct for the Credit and Debit Card Industry in Canada (the Code), which all payment card processing operating in Canada have adopted, sets out several rights that merchants have in relation to their contracts and their statements for payment card processing services.

Is the starting percentage that the merchant pays to processing company.

Is the fee that is charged if a merchant accepts a transaction that is above the base rate that was offered. This is a retroactive charge which prevents processing companies from losing revenue on a transaction because it was in a higher interchange category than the base rate.

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