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Frequently Asked Questions


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What is a POS terminal?
A point of sale terminal, also known as a POS terminal, is a smart system used at your point of sale to process payment transactions. With, Ea$yDraft your POS terminal can be used for credit cards (all major cards), debit cards, and check conversion.

Ea$yDraft terminal prices are extremely competitive. Just call our Sales Department at 1-877-395-5556, ext. 172, for the latest prices available.
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 registered to offer credit card processing through Visa and MasterCard. Merchant Banks usually contract with an Independent Sales Organization (ISO), like Ea$yDraft, to market services on behalf of the Bank. The Merchant will be charged a fee for this service called a discount rate. Rates vary depending on the type of business you have.
How long does it take to start accepting credit cards?
Once the Merchant completes the application, Ea$yDraft will have them ready to accept credit cards in about 3-4 business days.
Which credit 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®. The Merchant may request additional cards on the Merchant application, or ask one of our representatives for details.
How are funds received?
The funds from transactions are deposited directly into the Merchants checking account that is specified on the Merchant application.
When are funds received?
Credit card transactions generally take about 2 business days to deposit into the Merchants bank accounts.
Will a Merchant account be approved with a processing limit?
Merchant accounts are approved based on actual or projected dollar volume. The Merchant’s account activity will be monitored and Ea$yDraft reserves the right to review accounts at any time should the volume be significantly above or below the level represented on the merchant application.
When should a Merchant inform their processor that they will be switching to Ea$yDraft?
Merchants should wait until the new account is fully set up and successfully processed transactions with Ea$yDraft.
Can a Merchant have both a terminal and an internet payment gateway?
Yes.
Is signing a contract required?
Yes. If the contract is canceled prior to the termination date, the Merchant may be charged an early termination fee by Visa and/or MasterCard.
What does a Merchant need to do to accept credit cards?
Merchants are required to fill out an application and be approved by the processor. Ea$yDraft approves 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 Merchants 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?
Ea$yDraft provides a number of advantages to merchants wishing to accept credit cards:

  • Competitive rates and fees.

  • Free customer support in many 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 payment 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, and 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.

What are Security Codes ?
With Ea$yDraft, most credit card services also support Security Codes, often called by their Visa and MasterCard abbreviations, CVC2 and CVV2. These are printed on the reverse of virtually all Visa and MasterCard cards and on the front of America Express cards.
Will the Merchant receive a statement that reports on the transactions processed?
Yes, Ea$yDraft knows that merchants rely on our reporting services to account for the transactions they process, 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.
How are credit cards charged?
When a Merchant wants to accept a credit card for payments, the following process occurs:

1) An "Authorization Transaction" is submitted using a preferred Ea$yDraft processing system (POS terminal, PC software, etc.).

2) Ea$yDraft accesses the Merchant Card Services network to communicate the authorization transaction (including the transaction amount) to the issuing bank. This ensures that the card is valid and that the transaction amount does not exceed the cardholder's credit limit.

3) In addition to authorizing the transaction, the authorization puts a "hold" for the transaction amount on the cardholder's credit limit.

4) If the authorization succeeds, you will submit the deposit transaction to receive payment.

5) The day’s transactions are settled into your bank account.
What Is an Authorization Number?
An authorization number is the unique transaction ID that identifies the transaction throughout the process.
Can the Merchant accept check payments with Point Of Sale?
Yes. Ea$yDraft must understand the Merchants interest for converting paper checks to electronic checks during initial setup. Additional check reading equipment may be required when using this service.