Frequently Asked Questions

---

Pay-Trust offers Free credit card processing, also known as “cash-discount”, “zero-fee” or “zero-cost” processing, typically refers to the process of passing some or all the fees associated with payment processing along to your customers, so your business is essentially paying nothing to process payments. 

Pay-Trust offers free countertop credit card machines; others allow you to buy or lease your equipment. Pricing depends on the model and features, such as Europay, Mastercard and Visa (EMV) and near-field communication (NFC) capabilities. Costs are also based on whether you rent or purchase the machine, and if you receive it from the vendor or a third party. Generally, the most basic credit card machines cost around $300, and more expensive models can cost several hundred. 

 We wish there was a short and to-the-point answer to this question, but it’s long-winded. At its most concise, the cost will depend on the processor, card networks, and industry you’re in. Different pricing models can affect the overall prices. The most popular pricing models are interchange plus, cash discount also known as zero-cost, flat rate, and tiered. Pay-Trust only does interchange plus and cash discount. The others are not cost effective for any business. 

Your payment processor could be your last line of defense against fraud. There are plenty of fraud prevention tactics that you should be implementing in-house, but when all is said and done, the transactions have to be run through your processing company. Will they be able to detect fraud? If so, how? Ask these questions and get the specifics. The best payment processors will be using robust technology paired with fraud-fighting experts to prevent your company from running fraudulent transactions. Otherwise, you can get in trouble with the credit card networks and rack up hefty chargeback fees if you continually process unauthentic charges. Use a processor who has your back in this area.

A merchant account allows your business to accept credit cards. It transmits payment data from a customer’s bank to your company’s bank and authorizes credit card transactions. Merchant accounts are offered either by the credit card processor or directly from a financial institution. You will normally need to apply for a merchant account. Pay-Trust will seamlessly handle this for you. 

The two main security features to look for in a credit card machine and credit card processor are data security standard – also known as the Payment Card Industry Data Security Standard (PCI DSS) – and EMV capabilities. PCI DSS consists of several security measures, including point-to-point data encryption. Although credit card processors have PCI DSS as a part of their service, it is your responsibility to make sure they are compliant to protect sensitive information and avoid hefty fees.  

As with most banking transactions, credit card funds go through an automated clearinghouse (ACH), and transactions are typically completed within one business day. Called NDF (Next Day Funding), which is offered with Pay-Trust. There may be delays in some cases, usually because of holds by banks or chargebacks. Each credit card processor and bank have its own policies, so be sure to read the fine print regarding holds on funds. Pay-Trust is now offering Same Day Funding*where you can get your funds in 1 1/2 hours. 

Depending on the size and complexity of your business, it can take anywhere from merely moments to set up a pay-as-you-go account to 48 hours for an authorized merchant account. For more established companies taking the time (24-48 hours) to properly set up an actual merchant services account is necessary. Add 2-day shipping to that if the account requires a physical device.