ACQUPAY is a registered ISO/MSP Independent Sales Organization Merchant Service Provider registered with USBank with processing services provided by Elavon.

You can apply here.

At ACQUPAY there are NO application or start-up fees. If you are setting up a brand-new account or need to replace current equipment, there may be a charge for equipment. If your business qualifies we may supply a terminal free of charge for as long as you process with ACQUPAY.

If you have business license, we would like a copy. Supporting business documentation requirements vary bank by bank. In some cases, Articles of Incorporation or if a LLC Articles of Organization may suffice. A business license is one way for our banks to complete KYC (Know Your Customer) and AML (Anti Money Laundering) rules set into place since the attacks on the World Trade Center.

Yes, if the business entity is a corporation or limited liability company (LLC). If you are operating your business as a sole proprietor, you may use either your business or personal checking account provided your business name is on the account. A void check or bank letter confirming the account will be requested at the time of application.

Technically, your personal credit score does not affect your merchant account rates, but if you are not credit worthy and a processor chooses to approve the account you may be charged a higher rate due to the fact that the processor is taking a chance where another provider may not. You need to remember that a merchant account is not a guaranty. We try our best to approve 99% of applications submitted.

You will be setup to accept Mastercard®, Visa® American Express® and Discover® and JCB®.

ACQUPAY offers processing solutions that allow businesses of any size to accept payments with a tablet or smartphone. You can consolidate all of your payment acceptance methods – cash, checks, credit and debit – into one system that processes transactions through a single gateway, giving you real-time access to all your payments from any location – in-store, online or mobile. Inventory information can be added to the system at the point-of-sale, and you have control over which employees can use the system and which functions are available to them. Updates and upgrades are self-directed from our easy application and require no special technician or IT assistance.

When you enter card information or swipe a transaction into your physical or virtual terminal you will receive an authorization from the processor to complete the sale and issue a receipt to the customer. The card issuer bills the cardholder’s account and pays the processor. Then ACQUPAY deposits the transaction proceeds into your bank account, typically within 24 to 48 hours, though this may take longer for high-risk businesses.

Typically, within 24 to 48 hours. Some merchants may qualify for same day funding in which case you will receive funds for processed transactions within hours of a batch being closed.

Yes! Our U.S.-based customer support team is available 24/7. You can reach our live merchant assistance department here.

Yes. During the first week of the month you will receive a detailed statement by mail and/or email that includes your payment processing information for the previous month, including all deposits, charges and total sales volume. You can also access your data online for the most up-to-date information.

In most cases, yes, providing we are able to reprogram your equipment. If the equipment is no longer Payment Card Industry Data Security Standard (PCI DSS) or EMV compliant, you will need to replace it.

With over 200 different interchange rates charged by the card brands based upon the card presented it is nearly impossible to tell you what every card will be charged for every transaction. The rate that a merchant pays varies on which type of card is presented to make a purchase, and in what business you operate. Because each merchant has unique needs, our processing services are customized according to the specifics of their business.

Most retail businesses are set up quickly, usually within 48 to 72 hours. Larger volume businesses may take longer due to supporting documentation requests, KYC (Know Your Customer) and AML (Anti-Money Laundering) rules and regulations. There are many factors involved in setting up a merchant account including credit checks and bank verifications, but account are usually set up within 2-3 days of completing an application.

It is best to wait until your merchant account is approved and setup before closing your previous account. This is suggested so that you do not have any downtime while making your transition.

Dues and Assessments are charged by the card brands for each transaction that you process this includes a discount rate and a transaction fee. ACQUPAY and the Processor collect this fee and pass it to the card brands.

Interchange are the costs that are set by Visa and Mastercard for the merchants to accept transactions. These rates are non-negotiable and must be paid by any merchant, no matter what the size, that chooses to accept credit cards.

Non-Payment Card Industry Compliance is a fee that is paid by every merchant account owner that fails to provide PCIDSS compliance. PCI DSS shows that your business is maintaining proper security standards.

You do not have to pay ACQUPAY separately for any of its processing services. All fees are collected from the credit card presented at the time of sale at your business.

There are two ways that processors collect their funds for transactions processed by your business. The first is referred to as “Daily Discount.” Daily Discount is when the discount rate is deducted from each transaction processed. “Month-End Billing” is when there is no deduction of discount rate from any transaction processed and your account is billed for all transactions processed in the first week of the next month.

Some processors ask for a reserve to cover any potential losses or chargebacks that may occur with your approved merchant account. Reserves are used to offset risk associated with a specific type of business or industry. There are two different types of reserves: A “Rolling Reserve” and a “Static or Upfront Reserve.” A Rolling Reserve is a percentage collect from each batch processed held by the processors for six months. The amount collected in month number one will be returned in the seventh month and this process continues month-after-month. A Static or Upfront Reserve is when a processor ask for a lump-sum either taken from the first month of processing or a merchant sends the requested amount prior to the account being opened.

Most reserves are paid back to a merchant six months after the last transaction is processed. Merchants need to know that chargebacks are considered transactions. What this means is even if your do not process transactional volume for three months and you receive a chargeback three months later the six months starts from date the chargeback received.