3.5% + US$ 0.39

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No, a merchant account is the same as a business account . They serve diverse purposes inside a business's money related operations.

Merchant Account

A merchant account may be a particular sort of bank account that permits businesses to acknowledge and handle electronic installment card exchanges, such as credit and charge cards. Here's a closer see at its highlights:

• Reason: Encourages the acknowledgment of electronic installments from clients.

• Work: Acts as a mediator between the customer's bank and the business's bank, guaranteeing that stores are legitimately exchanged.

• Supplier: More often than not set up through a vendor securing bank or an installment processor.

• Utilize: Fundamental for businesses that wish to acknowledge credit card installments either online or in-person.

Business Account

A business account, moreover known as a commerce bank account, may be a broader term that alludes to any bank account particularly assigned for trade exchanges. It makes a difference between partitioned individual accounts from commerce funds. Here are its key characteristics:

• Reason: Oversees all the monetary exchanges of a commerce, such as stores, withdrawals, and costs.

• Work: Gives a central place for taking care of the business's operational accounts, counting finance, lease, and provider installments.

• Supplier: Opened with a customary bank or budgetary institution.

• Use: Used for an assortment of purposes, counting paying bills, getting installments, and overseeing cash stream.

Key Contrasts

1. Usefulness:

• A merchant account is particularly for preparing card installments.

• A business account handles common keeping money exchanges.

2. Exchanges:

• Merchant accounts bargain fundamentally with card exchanges.

• Business accounts oversee a wide run of exchanges counting checks, ACH exchanges, and cash stores.

3. Setup:

• Setting up a merchant account regularly includes more thorough necessities and guaranteeing compared to a standard business account.

Summary

Whereas both merchant accounts and business accounts are basic for commerce operations, they serve diverse parts. A business typically needs both sorts of accounts to oversee its budgetary exchanges effectively. The business account handles ordinary managing an account needs, whereas the merchant account forms client installments made by means of credit and charge cards.

Yes, you'll be able to have multiple merchant accounts. Having multiple merchant accounts can be useful for businesses in different scenarios. Here are a few reasons and contemplations for keeping up multiple merchant accounts:

Reasons for multiple merchant accounts

1. Commerce Expansion: In the event that a trade has multiple merchant accounts item lines or works completely different businesses, having multiple merchant accounts can offer assistance in overseeing and following deals more successfully for each portion.

2. Hazard Administration: Diverse multiple merchant accounts can relieve the chance of account solidifies or holds. On the off chance that one account faces issues, the trade can proceed working utilizing other accounts.

3. Preparing Limits: Multiple merchant accounts frequently have handling limits. Multiple merchant accounts can offer assistance a commerce prepare higher volumes of exchanges without hitting these limits.

4. Installment Doors: Diverse installment doors might offer superior rates or features for certain sorts of exchanges. Multiple merchant accounts permit a trade to require advantage of these shifting benefits.

5. Worldwide Exchanges: Businesses working universally might require multiple merchant accounts with distinctive procuring banks in different districts to handle nearby monetary standards and diminish exchange expenses.

Contemplations for Overseeing multiple merchant accounts

1. Expenses: Each multiple merchant accounts comes with its possess set of expenses, counting setup expenses, month to month expenses, and exchange expenses. Guarantee that the benefits of multiple merchant accounts exceed the extra costs.

2. Complexity: Overseeing multiple merchant accounts can increment authoritative complexity. Appropriate frameworks and forms must be in place to handle compromise and detailing.

3. Compliance: Guarantee that all multiple merchant accounts comply with pertinent controls and industry guidelines, such as the Payment Card Industry Data Security Standard (PCI DSS).

4. Connections with Acquirers: Keep up great connections with the securing banks and installment processors. Having multiple merchant accounts can now and then strain these connections on the off chance that not overseen well.

Down to earth Steps

1. Assess Needs: Evaluate the particular needs of your commerce to decide in the event that multiple merchant accounts are essential.

2. Select Suppliers: Select installment processors and procuring banks that offer the leading terms and administrations for each account.

3. Coordinated Frameworks: Utilize installment portals and monetary programs that can coordinate multiple merchant accounts consistently.

4. Screen Execution: Routinely screen the execution and costs related with each multiple merchant accounts to guarantee they proceed to meet your trade needs viably.

In outline, whereas having multiple merchant accounts can give critical preferences in terms of adaptability, hazard administration, and versatility, it too requires cautious administration to handle the related costs and complexities viably.

We work with a rather wide range of digital goods and services providers from games applications, to dating websites and software. What all our vendors do have in common is that they are growing online businesses that need a robust to check the prohibited industries you please refer to our content policy.

Aslo read:

• Merchant account benefits

All vendors who process, transmit or store card details must be compliant with the Payment Card Industry Data Security Standard. By partnering with PayCEC, you will be processing in compliance with the strictest level of PCI requirements.

Direct all of your customers’ billing inquiries and issues over to us. We will exceed your customers’ service expectations.

A/B testing allows you to optimize your payment flow performance by checking what design elements work best with your customers.

For example, create 2 simultaneous payment screens, one with an email field (screen A) and one without (screen B). Compare the results and decide whether adding an email field is worth it for your business.

You can compare variant performance over time using a variety of parameters such as payment clicks, visitors, conversion rate, approval ratio, volume and actual CPU (cent per user/ revenue per user).

Take advantage of this unique and valuable performance tool offered free of charge with your PayCEC vendor account.

Also read:

• How to integrate Payment Gateway in website?

• Merchant Account Fees

Credits to Partner accounts will be accumulated and paid out on the following schedule:

• For all credits created between the 1st to and including the 15th of the month, payment will occur 5 business days after the 15th day of the month.

• For all credits created between the 16th to and including the last day of the month, payment will occur 5 business days after the last day of the month.

Payments will be delivered to you via PayPal in USD. Any money owed to you will be paid out twice monthly as long as your balance is above $25 USD. If your balance is below $25, it will be held until the next payout period.

Also read:

• Merchant account benefits

• How to apply for a merchant account?

It can be done in as fast as 3 working days.

Do take note that this is not inclusive of bank application processes, and can also depend on the complexity of the customization services you would like for your e-commerce business model.

Also read: How to apply for a merchant account?

Unfortunately, we do not provide physical credit card terminals. Since e-commerce is the modern way to go, why not consider using your smartphone or tablet to start accepting online payments today!

Yes, 0.50USD. We do not have limitation for maximum transaction amount.

Documents to file against disputes include the delivery receipt of goods or service, signed contracts or signed items received (whichever is applicable).

For failed transaction it mean we could not capture the transaction. Charges applied only to successful transaction.

For the formula on how to calculate the fees, kindly see the working breakdown below, which assumes an exchange rate of SGD to USD is 1SGD = 0.73USD.

For settlement in SGD

Gross Amount Captured = 100.00 SGD

Fees (MDR+ Refund fee) = MDR (100*2.85%) + (0.40 USD)

= 2.85 SGD + 0.40 USD

= 2.85 SGD + 0.55 SGD

= 3.4 SGD

Net Amount = 100.00 - 3.4 = 96.6 SGD

For settlement in non-SGD

Gross Amount Captured = 100.00 USD

Fees (MDR+ Refund fee) = MDR (100*3.3%) + (0.40 USD)

= 3.30 + 0.4

= $3.7

Nett Amount = 100.00 - 3.7 = 96.3 USD

Hope this explain

Also read:

• Merchant Account Fees

• What is merchant discount rate?

Once the merchant refund,it will take approximately 15 working days to reach the originate bank account.

There is no limit to the amount you can accept each month/per transaction through a merchant services provider, and your funds will be transferred to your bank account on the same schedule, regardless of volume.

Normally pay-out is within 1 week for all merchant services providers we offer to you.

Also read:

• How to apply for a merchant account?

Card brands generally require merchants on all platforms (web pages, apps, invoices or contracts) to have policies that clearly disclose certain business information and cardholder rights to potential customers. The specific policy requirements may vary depending on the location where you operate, the card brands you accept, and your business model.

Offshore Company Corp requirements

To help ensure that our merchants maintain the required policies, Offshore Company Corp performs periodic reviews of our merchants’ websites. You can avoid being flagged by our risk team by ensuring that the following information is clearly disclosed to your customers.

• Contact information

• Pricing information

• Refund or cancellation policies

• Privacy policy

• Delivery time frames (if you are shipping physical goods)

• Terms and conditions of service

Contact information

Any of the following are considered sufficient contact information.

• A listed email address

• A listed phone number

• A physical mailing address

• Social media accounts

Read more: How to apply for a merchant account?

Pricing information

Pricing should be made clear to customers on your site before they complete a payment with you.

Custom pricing

If your pricing is only available in a custom contract or once an invoice has been drafted, you'll need to ensure that customers agree to pricing and can easily locate your contact information, privacy policy and a refund/cancellation policy in the contract or invoice.

Members-only pricing

If your pricing and policies are only visible to members on your site, you'll need to make it clear that pricing is available upon login. We also recommend that you make your contact information, refund/cancellation policy, and privacy policy readily available on your site for both members and non-members.

Donation pricing

A donation page with preset donation amounts, as well as custom donation options, is acceptable for non-profit organisations.

Mobile payments

If you only accept payments via a mobile app or mobile website, you’ll need to either meet all e-commerce website requirements within your mobile platform, or provide links to the requirements on your full site.

Read more: Merchant Account Fees

Refund and cancellation policies

No matter what your refund policy is – even if it is that you don't offer refunds – it must be present on your website. As a minimum, your refund/cancellation policy should detail:

• whether or not you provide refunds

• what conditions must be met to be eligible for a refund

• whether there are any fees associated with refunds or cancellations.

Privacy policy

Your privacy policy can be simple, but it must include the following.

• What information you collect from your customers

• What you do with that information

Terms and conditions of service

This type of agreement typically includes sections that address the following.

• Disambiguation/definition of key terms and phrases

• User rights and responsibilities

• Proper or expected usage; potential misuse

• Accountability for online actions, behaviour and conduct

• The use of personal data

• Payment details such as membership or subscription fees

• Opt-out policy describing the procedure for account termination (if available)

• Disclaimer/limitation of liability clarifying the site's legal liability for damages incurred by users

• Whether users will be notified upon modification of terms