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Frequently Asked Questions

 

 

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What is Easy ChargePLUS?
An application loaded onto the client’s PC that will allow the Merchant to accept point of sale credit cards and scan checks to be converted to an electronic transaction. This product will allow the Merchant to have multiple terminals for multiple locations. The application also has various validation fields for secure transactions.
What is a merchant account?
A merchant account is a commercial account that enables you to accept credit/debit card transactions. It handles the transfer of funds from your customers’ cards to your bank account.

A Merchant Account is set up with a bank that is a registered to offer credit/debit card processing through Visa and MasterCard. Merchant Banks usually contract with an Independent Sales Organization (ISO), like Ea$yDraft, to market services on behalf of the Bank. You can also sign up directly with a Bank but this is not usually the best route to take since most banks are not as flexible on a setup for a Merchant Account. You will be charged a fee for this service called a discount rate. Rates vary depending on the type of business you have.
How long does it take to start accepting credit/debit cards?
Once you complete the application, we’ll have you ready to accept credit/debit cards in about 3-4 business days.
Which credit/debit cards will I be able to accept?
Visa and MasterCard acceptance are included with all of our merchant accounts. We also have special enrollment programs for American Express® and Discover®. You may request additional cards on your merchant application, or ask one of our representatives for details.
How do I receive my funds?
The funds from your transactions are deposited directly into the checking account you specify on your merchant application.
When do I receive my funds?
Credit card transactions generally take about 2 business days to deposit into your checking account.
Will my merchant account be approved with a processing limit?
Merchant accounts are approved based on actual or projected dollar volume. Your account activity will be monitored and we reserve the right to review accounts at any time should the volume be significantly above or below the level represented on the merchant application.
When should a Merchant inform their processor that they will be switching to Ea$yDraft?
You should wait until your new account is fully set up and you’ve successfully processed transactions with Ea$yDraft.
Can I have both a terminal and an internet payment gateway?
Yes.
Do I have to sign a contract?
Yes. If you cancel before the termination date, you may be charged an early termination fee.
What do I need to accept credit cards at my business?
You don't need anything special to accept credit cards at your business. We approve over 98% of applications for U.S. businesses. While there are a few types businesses that we do not approve, we DO approve retailers, service businesses, mail order, telephone order, Internet and home-based businesses.
Which cards can I accept besides Visa and MasterCard? (Discover, American Express)
Ea$yDraft allows merchants to process Visa, MasterCard, American Express, Discover, Carte Blanche, Diners Club, and JCB credit cards. In addition, retail merchants can accept debit/ATM cards.
What are the advantages of using Ea$yDraft to accept credit cards?
We provide a number of advantages to merchants wishing to accept credit cards.

  • Competitive rates and fees.

  • Free customer support in most cases

  • Nimble, technology focused firm which is flexible enough to customize solutions

  • Many alternatives for processing, including POS terminals, Internet, virtual terminals, touch tone phones and PC software.

  • All industries served. We specialize in Internet and Mail order processing, recurring payments, retail, convenience stores, government payments, as well as business and residential services.

What is Address Verification Service (AVS)?
Address Verification Service (AVS) is a fraud prevention service that validates a cardholder's address (provided during a transaction) against the card issuer's records. This service is normally required as part of a credit card authorization for mail order/telephone order/Internet transactions. A code is returned with the authorization result that indicates the level of accuracy of the address match and helps secure the most favorable interchange rates.

Security Codes
With Ea$yDraft, most credit/debit card services also support Security Codes, often called by their Visa and MasterCard abbreviations, CVC2 and CVV2. These are printed on the reverse of virtually all Visa and MasterCard cards and on the front of America Express cards.
What is a payment gateway?
Secure payment gateway companies help processors conduct secure business on the internet using Secure Socket Layer (SSL) technology. Ea$yDraft uses its own payment gateway, as well as, other secure payment gateway companies.

  • Payment Gateways provide a system that passes credit/debit card data, authorization requests, and authorization responses over the internet using encryption technology.

  • The transaction information is sent by the Payment Gateway secure server to the credit card network where the validity of the card is checked and the availability of funds on that account is verified. An authorization code is returned to the Payment Gateway; the authorization is encrypted by the Payment Gateway and transmitted in encrypted form to the web server of the merchant, which triggers fulfillment of the order.

In most cases there are no gateway fees for our gateway, so your only costs are those associated with the actual credit card transactions.
What is Electronic Check Processing?
Electronic check processing means that you can convert a paper check received from a customer into an electronic transfer (sometimes called an e-check) that takes funds from your customer's bank account and places them into your bank account. This transfer takes place via the Federal Reserve Bank’s Automated Clearing House (ACH) system. It's a faster, less-expensive way to get your money.
What is Point of Purchase (POP)?
Converted checks have a unique identifier code, called a standard entry class code that distinguishes them from other ACH transactions. Point of Purchase (POP) is the standard entry class code for check conversion for checks that are written at a store checkout counter, voided, returned to a customer, and converted through the ACH Network.
What are the benefits of check conversion?
As with other electronic transactions, check conversion can result in fewer bad checks, earlier fraud detection, fewer errors, more privacy, and reduced processing costs.
Who benefits from check conversion?
Everyone benefits - consumers, companies, and the U.S. economy. Electronic payment processing via the Automated Clearing House has advanced to the point that the processing is seamless and transparent as well as beneficial to both you and the companies with whom you do business.
Will my business receive a statement that reports on the transactions processed?
Ea$yDraft’s reporting services account for the transactions processed, both for credit card and for all the check services we support. Reporting on transactions is available in a variety of forms, and each has their own strengths.

You will receive a Monthly Statement that summarizes all credit card and debit card processing activity. These are emailed automatically at the beginning of each month.

On-line transaction reporting is available for all services, providing up to the minute, detailed information merchants can use to confirm payments, identify processing problems, and other issues.