Electronic Fund Transaction FAQs

What is a merchant account?

A merchant account is a bank account that you must have to accept electronic card payments from customers such as credit cards, debit cards, electronic checks, gift cards, and other payment methods. Our partner, PPI, establishes a merchant account on your behalf when you qualify (through a credit application) for our payment processing services.

What are the requirements to open a merchant account?

You will need to fill out an application.  Depending on various criteria, you may be asked for personal information, a guarantor signature, samples of your advertising and/or other business verification materials.

Do you accept all types of merchants?

Most merchants qualify.  You must have a bank account in the United States and a Federal Tax ID Number. Some types of businesses are ineligible for our services, including foreign businesses that do not meet these criteria and those involved with gambling, X-Rated content, drug paraphernalia, and other restricted or prohibited category merchants.

What is the typical cost?

Set-up costs, transaction fees, and discount rates vary depending upon the customized solution you choose. Configuration, transaction testing, and ongoing technical troubleshooting with PPI is FREE for the life of your merchant account.

Will changing my merchant account to PPI cost me more than my current provider?

No.  In most cases we insure that your rates will not change.  If our analysis verifies that your rates are high, your lower expenses become another reason to use us!

Will changing my merchant account require me to change my banking relationship?

Absolutely not!  PPI will work with the depository (checking, savings, money market, etc.) account of your choice.

Can you describe the application and set-up process? How long does the set-up take?

You will be assigned a dedicated Account Manager whose responsibility is to make the application process straightforward and simple. We will mail, fax, or email you an application package which includes an application form, agreement, billing information and business verification requirements. We even give you a handy checklist to keep track of what you need to return!

Once your completed application is approved a technical representative from your account team contacts you within 48 hours to begin the installation/configuration process, which usually takes less than a week.

Will someone help me install my equipment or software?

Yes!  The integration experts at PPI walk you through the entire configuration and testing process so you’ll be up and running in no time.

Who do I call for technical support and banking inquiries? What are your hours?

PPI provides complete administrative support (Monday - Friday, 7:30am - 5pm PST) for all banking and transaction issues, as well as 24/7/365 technical support.  If you have a question, issue or concern about payment processing, contact PPI at the 800-774-6462 toll free number and select the following extension:

• Technical Support – x2
• Administrative Support (questions about your statements or changes to your account) – x3
• Risk and Security Department – x5
• PropertyBoss Account Manager: Jennifer Morrissey (strategic account related questions) – x4941

Jennifer Morrissey (jmorrissey@paypros.com) leads the team dedicated to the PropertyBoss account and can help you if you are not sure who to direct your question to.  They are here to help!

What credit cards can I accept?

Common cards accepted are Visa, MasterCard, American Express, and Discover.

When can I expect money from my credit card sales to be available in my bank account?

Electronic processing enables banks to process transactions and credit your account quickly and efficiently. Funds are usually deposited in your business checking account within two business days after you’ve batched your daily business. We suggest you check with your bank on its policy regarding availability of deposited funds.

How does PPI make money?

We earn our income by providing merchant accounts, so we add no additional layer of cost. For the same rate & fees you pay a “data processor” you get the added benefits of PPI – integration, configuration, testing, training, troubleshooting, fraud monitoring and administrative support – without any additional charge.