Frequently Asked Questions

Q. What is a Merchant Account?

A merchant account is a bank account that enables your business to accept card payments. You must have a merchant account in order to be able to accept credit cards.

Q. Why does it cost more for Internet, mail and telephone transactions?

One of the factors considered in pricing is the associated risk. A face-to-face transaction is considered less likely to be fraudulent and therefore has a lower cost.

Q. When will funds be placed into my checking account?

With Worldpay you will generally receive your funds the next business day. In some cases, it can take between 2 to 3 business days.*

Q. What are the varieties of credit card processing solutions?

There is an array of options available. There are hundreds of terminal options for businesses who accept payments face to face; mobile options for accepting payments on the go; real-time processing for Web sites; PC software for mail or telephone transactions; and many more. Each type has its advantages and disadvantages depending on the type of business employing them. Your WorldPay account executive can help you choose the right option(s) for your business.

Q. What are chargebacks?

A chargeback occurs when a cardholder (typically a consumer) contacts their issuing bank to challenge a transaction. While the claim is being investigated – and the business owner provides documentation to “dispute” the chargeback – the amount of the transaction is deducted from your merchant services account. Double-charging, card expirations, poor quality of the product/service delivered, customer disagreements and bank errors all may cause chargebacks.

Q. Will I receive reports of my transactions?

WorldPay provides up-to-the-minute, detailed transaction information online via our secure Merchant Portal. The new merchant portal provides:

• The ability to create individual reports for each of your business’ locations.
• Easily customizable reports – including Deposit Summary, Daily Activity and Monthly Statement – that can be viewed in a printer-friendly format or easily downloaded for reconciliation in your accounting software.
• The ability to have reports automatically emailed to you on a schedule you select.
• A direct link to our Chargeback Manager, which allows you to more quickly manage chargeback and retrieval requests by doing it online – eliminating the timely, paper-based process.
• New self-service features that allow you to modify your bank account information, update your business address or even order terminal supplies online.

Q. Do I have to be a U.S. citizen in order to set up a merchant account through WorldPay US?

Yes. At this time, our Merchant Services are limited to U.S. citizens only (those with Resident Alien status will not be approved). If you are looking to process internationally please visit worldpay.com.

Q.Will I be able to view my customers' full credit card number?

Protecting cardholder data is critical and is a core tenet of PCI compliance. As such, we mask card numbers with the exception of the last four digits.

Q. What is Interchange?

Interchange is the amount the credit card associations or networks charge to accept their card type as payment. It is typically a percentage of the purchase transaction total.

Q. This is my first business. Am I still eligible for a merchant account?

Yes. The ability to accept credit cards is particularly important to the ability of a new business to succeed, so WorldPay's credit team makes every effort to make that possible.

Q.How do I get paid?

The proceeds from your card sales are deposited directly into your checking account – typically the next business day.*

Q. Will I have 24-hour customer support?

Absolutely. At Worldpay, providing quality support for our customers is a top priority. Regardless of time zone, you will have 24-7 access to US-based, toll-free support.

Q. How long does it take to get an approval?

After filling out our on-line application, and faxing us your supporting paperwork, your application can be approved in as little as 24 hours.

Q. Do you have Recurring Payments?

Yes. Our Recurring Payments website allows business owners to set up a schedule of payments that are automatically charged to a customer’s credit card or DDA account – automating the billing and collection process.

Q. What is the maximum transaction limit?

The maximum single amount that can be accepted in one payment is the limit on a customer's card.

Q. Which credit and debit cards can I accept?

In the US, all major credit and debit cards are accepted: Visa®, MasterCard®, Discover®, American Express®, JCB International®, and more.

Q. What happens in the event of a data compromise while using WorldPay's services?

In the event of a data breach, we have the tools required to help you assess and validate compliance with the Payment Card Industry Security Standards (PCI DSS). Our PCI compliance program provides an indemnity waiver of up to $30,000 in approved costs in the event of a data breach. Adding our End-to-End Encryption product increases that approved indemnity waiver up to $100,000.

Q. Where can I get further information on PCI DSS?

Visit the PCI Security Standards Council website: www.pcisecuritystandards.org and www.pcisecuritystandards.org/pdfs/pci_ssc_quick_guide.pdf

Q. Who should I contact if I have a question about my recent transactions or my settlements?

Contact WorldPay's Customer Care Department to speak to a knowledgeable, US-based representative. The Customer Care number is available on your merchant processing statement or via the WorldPay Merchant Portal.

Q. Why is it important to become PCI compliant?

If you are not PCI DSS-compliant, you face a greater risk of a data compromise, and a data breach can cost a business owner tens of thousands of dollars in forensic audit fees, chargeback-related costs, card replacement costs and fines by the credit card associations.

Q. What do I do if I suspect a data compromise on our systems?

Contact us immediately. Email the details of the incident and your contact details to PCISecurity@worldpay.us, and our experts will closely work with you on the issue.

*Next-Day Funding service is subject to WorldPay’s normal transaction risk review and is inapplicable to card types settling directly with you. Availability of funds deposited into your account is subject to your local bank’s policies. Settlement obligations are subject to bank holidays and to the terms and conditions of your Customer Processing Agreement. Failure to batch by 8 PM ET for thirty consecutive days may result in a change of your funding times. WorldPay recommends that you batch transactions by 7:45 PM ET or earlier so that you do not miss the 8 PM ET cut off time. Check with your WorldPay sales representative for additional eligibility requirements. Additional conditions apply.