Meramak Bankcard Midwest Merchant Account Services

Meramak Merchant Accounts


Merchant Account Overview

Your business can accept credit cards and process credit card transactions by:


1. Telephone / Dial Pay: touch tone merchant authorizations

2. Credit card terminal: using a terminal to swipe the magnetic stripe on credit cards as in retail sales, or for keying in numbers manually when the card is not present as in mail order.

3. Internet and Virtual Terminal: entering the credit card number using an online Virtual Terminal or automatically with real time Internet processing.

4. Wireless terminal or handheld device: credit card processing through a wireless terminal

5. Smartphones: using an Android, iPhone, or Blackberry smartphone to run a credit card processing app

For a basic retail store, you could use the telephone authorization method Dial Pay, number one above. The preferred method would be option 2 above. Swipe your customer's card through a credit card terminal. Then key in the dollar amount of the sale on the keypad. The terminal will dial out to our processing network (toll free), and within seconds you will receive an authorization and reference number confirmation. Your funds will be deposited into your business checking account in 48 hours. We have free processing equipment and check readers for most retail businesses that qualify.

telephone authorization credit card terminals Internet virtual terminal wireless credit card terminal

Swiped Transactions

Swiped transactions are usually retail sales transactions. The cardholder is almost always present for the sale. Since a credit card terminal "reads" the magnetic stripe, banks knows the customer is probably present with the card which greatly reduces the risk of disputes and possible chargebacks. You will receive the lowest rate for these "qualified" transactions.

Non-Swiped Transactions

You can manually key in the credit card number if the card is not readable or not present, such as a worn magnetic stripe on the card, off-premise sales keyed in at a later time, pre-authorized transactions, or mail / phone orders and home businesses. In most all cases, if the credit card cannot be swiped, it is processed at a higher rate than swiped transactions.

Address Verification (AVS) is available for telephone / mail order merchants so you can confirm the address you are shipping to is the address where the cardholder receives their statement. You may not want to ship if the address does not match, thereby reducing the risk of chargebacks due to customers claiming they did not receive the merchandise they ordered.

Chargebacks! A chargeback occurs when a customer disputes a transaction on their credit card statement from the bank that issued their credit card. A chargeback usually occurs when:
1. A cardholder said someone had stolen their credit card to make a purchase from you.
2. The cardholder did not recognize the name of your business on their credit card statement.
3. The cardholder says they did not receive the product or service from you.
4. Almost any other reason. Consumers have up to one year to dispute any credit card purchase that appears on their monthly credit card statement. If they contact their credit card bank and complain, they can chargeback the amount of purchase to your merchant account. They get their money back, and perhaps keep your merchandise, and the money is withdrawn from your bank account by their credit card bank automatically. Chargebacks may occur no matter what type of business you have. You can dispute a chargeback. You will be glad you chose our company for your processing if you do. We know the steps it takes to successfully fight a chargeback if it is not legitimate.

Types of Businesses and Automatic Merchant Approval

Credit card processing costs

If you want to have a merchant account setup for you, call us or fill out our
pre-application and contact form online.