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Frequently Asked Questions

Looking for more information about how our company works and what to expect when you hire us?

Find answers to some of the most common questions we receive below.

A Merchant Account enables you to process credit cards, debit cards, gift cards and electronic check transactions. These payment methods are convenient for your customers, and they help you get paid faster.

We do not have one set rate for every customer’s business. Every business is run differently and has different percentages of swiped, keyed, rewards, and corporate cards, as well as different average sales prices. These factors all affect pricing. A member of our trained staff will do a comprehensive analysis of your current processing statements and tailor a program that would best suit your business.
In most cases, we can reprogram your existing terminal. If you are looking for an updated terminal or one with more capabilities, we can provide one for you
A merchant account is similar to an open-end line of credit. You send us your transactions for processing, and we credit your business checking or depository account. Those funds are available for you to use as you wish. The transaction is posted to your customer’s credit card statement and they have the right to dispute any charges posted. If the customer disputes a transaction a chargeback may be generated, which would be debited against your business’ account. In order to assure you have the funds to cover any potential chargebacks we require a credit check.
No. Merchants physically located outside of the U.S. cannot process transactions with an iPayment Inc. Merchant Account. Currently, only merchants with a physical business address in the U.S. and a U.S. checking account may process transactions.
Reach out to your account representative or contact us at [email protected] and we can get your new location up and running.
New terminal deployments are generally done within 48 hours. This gives us time to obtain your new merchant number and download a terminal for you. IPayment of NY makes every effort to install the terminals in person.
A discount rate is a fee associated with collecting, assessing, approving, processing, and settling credit card transactions. This fee is often a percentage of the transaction value.
IPayment Protected performs a full analysis of your business, including the way in which you accept the payments, transaction sizes, and your type of business to determine the best rate structure for you. Reach out to an account representative or contact [email protected] to discover the best rate structure your business.

Yes! Every business partnered with IPayment Protected has a dedicated account representative, as well as access to our white-glove in house support team.

Contact your account representative to check on the status of your submitted application. You can also contact [email protected].

IPayment’s general rule is “in by noon, out by 5.” This means the account is approved, the MID and TID are activated, the file is built and the terminal is deployed (if applicable). You can check the iPayment Agent site for status and download information upon completion. Incomplete/illegible paperwork and multiple terminal deployments cannot be guaranteed for same day. Deployments requiring pin-based debit is held overnight to ensure debit is activated and we can test file before terminal is shipped.

IPayment Protected has a free terminal placement program where you can get a free payment terminal upon qualification. Contact us today or email [email protected] to see if you qualify

You can access your transaction history, sales reports, tax information, and monthly merchant statements from your online iAccess portal. If you need help gaining access to this, contact your account representative or [email protected].

IPayment Protected provides next-business-day funding on all accounts.

IPayment Protected offers solutions for all types of businesses including restaurant, retail, mobile, online, and more! Visit our “Solutions” Page to see all of our options, or reach out to us today to learn more.