FAQ

Who should use My Merchant Services Match?

Any business that performs credit and debit card and any electronic payment transactions.

Is there a cost to use your merchant provider service?

No. The service to you, the merchant, is free and there is no cost or obligation.

What do I need?

Each provider is different, but basically if you have an account you’ll need to get your last statement ready. It’s best for negotiation.

What type of equipment do you have?

Almost all industry equipment is provided by at least one of our partners.

How do I know what kind of account is best?

Go to the Help Me Choose section which will give you some useful pointers. Then, simply follow the process. It literally takes about 60 seconds.

Are you a Merchant Service Provider?

No, we do not provide the service. We walk you through the process in the same way those big travel sites do for vacations. They don’t fly you to your destination but they get you there. That’s like us.

So how does My Merchant Services Match make money?

There are thousands of merchant account providers in the US. To be honest, like any industry, they are not all great. And the really good ones want to be held to a higher standard and some of the mediocre ones want our help making them better. Not every merchant is a match for the MMSP either. For example, you want smart phone payments and a provider may not offer that. So there is a great savings in matching. Those savings and helping mediocre MSPs move up in quality which is how we make our money.

Please see below for helpful industry vocabulary:

Acquirer provides transaction authorizations and submits transactions through MasterCard/Visa/Discover Network

Address Verification Service (AVS) is a fee charged on a transaction in which a response is requested

Auth is issued in the form of a number from participating authorization centers which confirms the authorization for sale

Authorization (Auth) indicates the availability of the card credit limit at the time of the authorization request

Authorization Fee is charged per transaction by the card networks to obtain the card authorization for an approval or a decline

Basis Points is equal to one-hundredth of a percent

Batch Closure Fee is a fee charged when the merchant transmits a batch for settlement. Batch Closure Fees must be equal to the rate negotiated for the authorization fee

Batch Settlement Fee is charged each time a batch is actually settled with the associations and the cardholder’s issuing bank

Cardholder purchases goods and services through use of MasterCard/Visa

Chargeback Fee is charged to a merchant when it is determined that a disputed bankcard transaction will be reversed and the money returned to the issuing bank

Customer Service Fee is charged usually when the service provider offers 24/7 support

Discount Rates is a percentage that is deducted from a merchant’s sales volume

Interchange is a term to describe the processing costs for MasterCard®, Visa & Discover credit as well as NON-PIN debit cards

Issuer issues MasterCard/Visa/Discover Network Credit Cards to consumers

MasterCard/Visa Associations/Discover Network Associations of Member Banks who facilitates the processing of Credit Cards throughout their systems (does this make sense?)

Merchant sells goods and services to cardholders

Merchant Provider Service allows businesses the opportunity to accept debit and/or credit cards in exchange for goods and services

Monthly Minimum Merchants are boarded with a monthly minimum fee for MasterCard, Visa and Discover

Monthly Statement is a statement outlining all the fees and charges associated with processing in a given month. More frequent statements are available upon request at an additional cost

Virtual Merchant Account is a type of account which allows businesses to perform debit or credit card processing transactions online via an Internet connection

Voice Authorization is a fee charged to a merchant when a merchant requests authorization from the call center in lieu of making the request from their credit card terminal