A
Gateway fee is applied by the transaction processor to cover the costs
of receiving and processing the transaction. [Close]
Credit
cards charge a percentage of the sale for use and this amount is referred to
as a transaction charge. [Close]
Instead
of a percentage rate, a Debit card transaction is charged at a flat rate
fee. [Close]
A
chargeback is a reversal of a sales transaction by the customer's credit
card issuer. For more information on chargebacks please
click here [Close]
The
rolling reserve holds five percent (5%) of total
approved gross transactions, over the previous six month period. Following the
seventh month of operation (and every month thereafter) the reserves generated
from the first month of operation (and every month thereafter) will be forwarded
to the merchant of each sale for a specified period, after which time it is
paid to you.
The purpose of the reserve is to pay for any chargebacks which may occur against
your account [Close]
A
percentage of each sale is payable as a transaction fee [Close]
This
is the country that the merchant has to be incorporated in, NOT the country
they can sell too. The merchant can sell to any country they wish! [Close]
Instead
of charging a fixed transaction fee of say 50p for debit card transactions,
we charge 3.99%. This means all cards are charged identically. [Close]
One
base currency is available for FREE. All additional currencies are available
at a charge of £57.25 per currency [Close]
This
list does not constitute any recommendation by Web Merchant Services, nor is
this list definitive. For further information please refer direct to the vendor.
When searching shopping carts integrated with the Optimal Account you may need
to see if they support FirePay. FirePay is essentially a legacy name - former
brand names of Optimal Payments [Close]
We
do not set a minimum or maximum order value. You can take orders in a single
transaction from £0.01 upwards.
Please note however that items and services with a very high order value can
be deemed high-risk and therefore may be given different terms to advertised.
For this reason, when asked on the application what monthly turnover you expect,
please do not exaggerate as this can hinder the application, if not reject it.
[Close]
Remittances
(money paid to you) are made weekly, 28 days in arrears and a fee of £0.35
is charged [Close]
Minimum
Remittance Amount is the minimum limit before a Wire transfer is made.
[Close]
Merchant
takes payment details over website or telephone. Completes authorisation request.
Receives authorisation code. This authorises card & reserves funds but doesn't
take them
The merchant then checks eligibility of customer or order. If OK does settlement
transaction. Authorisation code from before is then used to take money or abandon
order. This can be done manually through the CMS, via an API or as a combination
of API/manual [Close]
Business
listed? How about our Optimal or Premier Account? [Close]
The World Account
.................................................................................................................................................................................
European or Asia Pac Business?
With the World Account we can help companies based
in the UK and Europe as well as businesses based in
New Zealand, Australia, Singapore and Hong Kong. So,
if your business is non high-risk and is incorporated
in the UK, Europe or some other part of the world (subject
to country list), this is the best account for you!
The World Account is now integrated with PayPal. This
means that you can give your customers the ability to
pay you either by credit or debit card in the normal
way, or by PayPal.
All prices include VAT and are non negotiable. Therefore
please do not ask us to make an exception.
Please note: Due
to strict money laundering rules the bank account you
wish to use with the merchant facility (the account
we pay monies into) must be in the same country as your
company is incorporated.
