What is a Merchant Account?
A merchant account is a commercial bank account established
by contractual agreement between your business and the banks
we represent. A merchant account enables your business to
accept credit card payments from your customers.
Why
would my business need to accept credit cards from my customers?
By accepting major credit cards you can increase your credibility,
customer convenience, and best of all, your sales. Statistics
show that accepting credit cards can increase sales by 40%
to 100%!
How
do I apply for a merchant account?
Simply, contact one of GPS representatives by clicking
on our contact page. Its that easy!
How
long will it take for my application to be processed?
Within hours your company will be able to accept credit
cards from your customers. GPS Risk Management Department
specializes in expediting your application so you can immediately
start accepting credit cards.
What
credit cards will my business be able to accept?
We will apply for your business to accept all 5 major credit
cards: Visa, Mastercard, American Express, Discover and
JCB. We also accept US & GBP
Are
there some types of businesses GPS Solutions doesn't accept?
We pride our business on the fact we can place just about
any business type. Even if you've experienced problems in
the past with other processors or have a low credit rating.
We will present your application to many banks around the
world to ensure you obtain the best rates.
Will
my business receive a statement on the transactions processed?
As a merchant you will receive a comprehensive statement
detailing your credit card transactions. GPS merchants
can also access the online reporting system 24x7.
How
will my business receive payment for each transaction?
This will depend on you business type. Retail business will
usually settle within 24 hours however Internet based business
will typically be a 5 day payout. We will notify you once
we have received a completed application.
Are
my funds guaranteed?
Any customer has the right to dispute a credit card charge
from the card's issuing bank. If a charge is challenged,
a retrieval request will be sent to the merchant asking
for proof that a sale had been made by the customer. In
addition, the merchant's credit card processor has the right
to discontinue service for many reasons. A merchant should
take due diligence to protect against someone trying to
order merchandise with stolen cards by becoming familiar
with the process.
What
is "GPS Solutions' Refund & Dispute Policy"?
If the customer of a merchant contacts GPS about a charge
on their card or for a refund, GPS will contact the merchant
and give the merchant 48 hours to respond to the customer.
If after 48 hours, the merchant does not respond, then the
customer's order will automatically queue for a refund.
If the merchant does respond, then the customer will be
notified by email of the response: customer and merchant
can thereafter resolve the issue.
