Frequently Asked Questions

What is the Payment Card Industry Data Security Standard (PCI DSS)?
Equity Payment is proud to be PCI DSS compliant. With the growing crisis of credit card fraud taking place, the Payment Card Industry created a Data Security Standard which Equity Payment takes very seriously.
What kind of businesses do you accept?
We accept most business types including retail, professionals, mail order, telephone order, Internet based, and home based businesses.
What if I have less than perfect credit?
Equity Payment has outstanding relationships with the banking industry and will be able to assist you in being approved to accept credit and debit cards.
What credit cards will I be able to accept?
We set you up so that you can accept MasterCard, Visa and bank ATM debit cards. You can apply for American Express and Discover at the same time. There is no set up fee for American Express. If you would like to accept Discover Card there is $50 set up charge.
Do I need a business license?
No, you do not need to have a business license, trade name registration, dba certificate, etc. but it is helpful.
What is the discount rate?
Every bank charges a discount rate. The discount rate is the percentage of each transaction that the processing company charges to handle the transaction for you, Our discount rates are exceptionally low for both retail (swiped) merchants and for mail order/telephone order and Internet merchants.
What is the Address Verification System?
If you sell mail order/telephone order, or through the Internet, you don't want to send a product to a false address and have a risk of receiving a chargeback. The Address Verification System (AVS) lets you enter the customer's home address and compares it to the address on file with their credit card company. If someone uses a stolen card, and wants products shipped to a false address, AVS will detect this for you.
Will I receive a statement?
Yes. A statement is mailed out every month with the information on all deposits into your account, your total sales volume, and the charges for the month. There is a Monthly Statement/800 Help Desk Fee of $9.95.
How will I get my money?
Your money will be deposited directly into your current business checking account. Funds are usually available within 2 business days (sometimes slightly longer if your business is considered high risk).
How do I apply?
Just fill out the free, no obligation online contact form. We will contact you within 24 business hours and let you know what program you have qualified for, and answer any questions you might have. If you would like to go ahead with your application, we'll send you a simple hard-copy application package. When you receive it, you will sign where indicated, and return it along with the requested documents. (Meet with a sales representative in person?)
How long does the approval process take?
Once all necessary paperwork is received, most accounts are approved in 72 hours. Once approved, we will immediately inform you of your acceptance and deliver the terminal equipment or software.
Is there a service phone number that I can call if I need help?
Yes! You will have live, toll-free merchant assistance available to you 24 hours per day, 7 days a week, 365 days per year. When you call this line you will speak with a real person, not a machine.