FAQ

A merchant account is a bank account established by contractual agreement between a merchant/business and a payment processor/bank for the settlement of credit card and debit card transactions. A merchant account enables a business to get money from their customer’s credit card and debit card transactions into their local checking account.

No — A business does not have to setup a new separate checking account to establish a merchant account, but instead can use the current checking account that it has with its local bank. If a business operates as either a sole proprietorship or a partnership, a personal checking account can be used as a merchant account. If a business operates as a corporation or an LLC, a business checking account is required.

In most cases, you will just need to fill out and sign the merchant account application/agreement that we provide you with, and supply us with a copy of a voided check linked to the account where you would like to have your funds deposited.

Simply fill out the Contact Form or call us at 1-877-861-8008 to receive a customized rate quote and a merchant account application with our terms and conditions.

Instead of faxing us a copy of a voided check, you can have your bank fax us a signed letter on bank letterhead stating your account name with the routing number and account number to your account.

Yes — You will have access to our Technical Department 24-hours a day, 7 days a week for any training or help that you may need with your equipment. To reach the BCMS Technical Department, please call 1-877-861-8008.

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Innovation at the intersection of technology and compliance.

New Rules

In 2013, new rules enabled businesses in America to do what universities and government had long been permitted to do: pass on the fee when customers choose credit cards for convenience or rewards.

For American businesses, credit card acceptance is one of the largest, and fastest-growing, operating costs.1 In fact, since 2005, the interchange cost of Visa’s and MasterCard’s premium rewards cards has risen by 24%.2

And yet, while these costs were increasing in America, they were decreasing throughout the rest of the world. In countries where passing on the credit card fee is permitted, economic research shows that the cost of card acceptance has been significantly reduced.

By passing on the credit card fee and enabling the customer to choose a lower-cost payment option, CardX creates cost transparency and equips customers to a “comparison shop” among payment types. This applies competitive pressure to the prices charged by credit card companies.

As a turnkey solution provider, CardX differentiates itself at the leading edge of technology and compliance.

The CardX solution is powered by its patent-pending technology that—for payments in person, in office, and online—determines card type and cost of acceptance in less than a second.

Moreover, the CardX solution is designed for seamless compliance in the evolving regulatory landscape—and we’re the ones leading the change, all the way to the U.S. Supreme Court.

The #1 name in this growing field, we license our solution to industry-leading software companies and merchant services providers. Every day, CardX and our partners bring zero-cost credit card acceptance to government entities, schools, and businesses of all sizes, from Main Street merchants to public companies.

Simply compliance with the Card Brand Rules. 

Cash Discounting and Discount Offers Explained U.S. | Acquirers, Processors, Agents Visa Network Overview: 

Because cash discount or discount offer programs have become increasingly popular at merchants, Visa is reminding U.S. acquirers, merchants, processors and agents that discount offer programs should be evaluated to ensure compliance with the Visa Rules. Visa has received an increasing number of questions in relation to discount offers, or what are commonly called “cash discounts.” 

While there are many different programs being offered to merchants by their processors or agents, the Visa Rules on discount offers should be consulted when considering whether a program of this type would benefit the merchant. Visa’s discount offer rule (ID#: 0008590) states that while merchants may request or encourage a cardholder to use a means of payment other than a Visa card, the method for doing so must be permitted under the Visa Rules, such as offering a discount from the merchant’s list, stated or standard price, among other possible incentives. 

An example of a merchant segment that properly implements this model is automotive fuel merchants. Oftentimes there is signage at fuel merchants that clearly displays the credit price next to the discounted cash or debit price. It is important to note that the discount is taken from the regular price of the fuel, and does not constitute any additional fee or surcharge that is removed when the customer pays with cash or a debit card. 

Models that encourage merchants to add a fee on top of the normal price of the items being purchased, then give an immediate discount of that fee at the register if the customer pays with cash or debit card, are NOT compliant with the Visa Rules and may subject the acquirer to non-compliance action. To maintain a level playing field for all participants of the payment system, Visa actively enforces its rules pertaining to cash discount programs. Acquirers should proactively monitor the discount programs offered by their processors or agents to ensure that the programs do not violate the Visa Rules.