SyndicationCrescent Processing Company FAQ
Q: What is Merchant Account?
A: This is an account which a merchant needs to sign up to. The account enables the merchant to accept and process transactions on cards from all major card companies.
Q: What is the Deposit Timeframe?
A: This specifies the time between when a transaction occurs and when money is received by the merchant.
Our current deposit timeframe is 48 hours for transactions batched on Monday through Friday. Weekend transactions are batched on Monday and the timeframe will run from Monday. These timeframes are standard across the industry
Q: Do I need a Credit Card Merchant Account to process transactions?
A: Yes.
Q: What can I use my Crescent Processing Company Merchant Account for?
A: A Crescent Processing Company merchant account allows you to process credit and debit card transactions over phone line, VOIP line, or the via the Internet. You are able to accept credit card orders 7 days a week, 24 hours a day.
Q: Can merchants use their existing merchant account and process my credit cards through Crescent Processing Company?
A: No. Card transactions with your business can only be processed through your unique Merchant ID. If you cease doing business permanently, you need to cancel your MID immediately.
Q: Can I process with Crescent Processing Company if I am not a US business?
A: No. You need to have a US business address and a US bank account.
Q: Where are the funds from my credit card transactions deposited?
A: The funds from your credit card transactions are deposited into your checking account. This is the bank account which we have on file for you. If you need us to change this account, contact us and we will advise on the details we require from you. .
Q: Do you offer next-day funding?
A: Processors who offer these advances are actually taking a one-day loan from a bank and this attracts fees. We have opted against this service so our deposits are the standard 48 hour ACH timeframe.
Q: Can I view a report of fees charged for processing my credit card transactions?
www.CrescentProcessing.com
Q: What is a network?
A: This is the communications infrastructure that sends card information between merchant, Card Associations (Visa/MasterCard), and Banks. Crescent Processing Company utilizes the most reliable credit card processing network in the industry.
Q: Which credit cards will I be able to accept?
A: Your Crescent Processing Company merchant account allows you to process Visa, MasterCard, Discover Card. American Express, Diners Club and JCB.
Q: What length of time can a consumer "chargeback" a credit card transaction after it has been submitted?
A: Crescent Processing Company abides by the Card Association rules and allows 180 days to contest a transaction.
Q: What is AVS?
A: Address Verification System (AVS) matches the address information on file at the cardholder’s bank against the billing address information provided by the merchant. If the information provided does not match, the transaction can be declined. Merchants have the option of selecting the level of match required for a transaction to ensure maximum chargeback protection.
Q: How long does it take for a transaction authorization to take place?
A: Transactions submitted through the Crescent Processing Company terminal receive approval in about 3 seconds.
Q: If I do not currently have a credit card processing terminal, what are my options?
A: All Crescent Processing Company merchants are provided with all the card processing equipment they require and are not charged for this equipment.
Q: What is the Authorization fee for?
A: The authorization fee is charged every time a transaction is run through your POS terminal and connects to the host to receive a response for a transaction. This is a service and comes with a cost.
Q: What is the One Time Processing Fee?
A: This fee covers the cost of the credit underwriting process, providing a welcome kit, 2 rolls of paper, and the shipping cost of the Crescent Diamond terminal. It is a one-off, non refundable charge.
Q: How do I get additional equipment?
A: Crescent Processing does allow the option to get additional equipment. If you add services, the equipment associated with those services is free. If you need additional terminals and pin pads, these are charged for. Contact our Services Department at 1-800-618-4428 for more information.
Q: How do I settle my terminal?
A: If you are a non-auto batch operation then press the letter E (settle), enter your password, verify your totals and press “Enter”. If you are setup for auto-batch then you will have a printed report of all transactions when you get in the next day. Keep in mind you only need to batch out if you have credit or debit card transactions.
Q: Why should I batch every day I have transactions?
A: The cardholder is not debited for the transaction until you batch your terminal. The main reason to batch everyday is reduce the risk of disputes. When you authorize a transaction it only puts the amount on hold with the issuing bank. The transaction is concluded with batching. Banks also charge a higher Interchange rate for any transaction that is not batched out within 72 hours.
Q: What does Qualified Discount Rate mean?
A: This fee applies to bankcard transactions that are swiped, electronically authorized and batched within 24 hours of the card’s authorization. This is a set percentage plus the per item charge that is deducted from all Visa/MasterCard transactions processed thru Crescent Processing Company’s system.
Q: What is a Mid-qualified Discount rate?
A: These are additional percentages charged for swiped or manually keyed MC or VISA transactions. The charge occurs when electronic authorization was not obtained, but a voice authorization was. The fee can also apply to a foreign card and to keyed Visa/Mastercard transactions that automatically fall into the MQD category. The fee is charged in addition to the qualified discount percentage.
Q: What is a Non-qualified Discount rate?
A: This fee is charged to all bankcard transactions that do not meet the requirements of the qualified, mid-qualified or qualified MOTO (mail order/telephone order) categories. This may include, but is not limited to, any transactions that are keyed in without AVS matches, business cards, foreign card transactions and all transactions (V/MC) that are not batched out within 72 hours of the authorization. This fee is charged in addition to the qualified discount percentage.
Q: What is the monthly minimum charge?
A: The monthly minimum is set at $19.08 and it relates to the qualified discount paid.. You will never pay less than this so if your qualified discounts paid are less than $19.08, then you will pay the shortfall. If these discounts are more than $19.08, then you can disregard the minimum charge. If you process over $1200 per month you will be paying more than $19.08 in qualified discounts.
Q: Why don’t my batches match my deposits?
A: The two totals will differ by the discount deductions which are made each day.
Q: Can I have it changed on my account to deposit just the batch amount?
A: Yes. This can be arranged but be aware that you will pay a higher month end bill. This is because all discounts will be charged on the final business day of each month.
Q: When do the fees get deducted?
A: On the final business day of the month. If this happens on a weekend, your statement will cycle on the Friday before that weekend. The final business day of the month is when we send the ACH debit to your bank for processing.
Q: How do I contact my Sales Representative?
A: You do not need to contact your sales rep. Once your application is approved you will be allowed to deal directly with our Client Services team. This group will assist with training, queries and product services.
Q: Why does my terminal say “hold/call” when running a transaction?
A: This message comes from the issuing bank. You will need to call the phone numbers for voice-approval that are provided on the back of your Crescent Processing reference cards. If the card is approved it will give you a 6 digit authorization/approval number. You will need to enter this into your terminal via offline/force mode (see reference card). If it is declined then you need to ask for another form of payment.
A: This is an account which a merchant needs to sign up to. The account enables the merchant to accept and process transactions on cards from all major card companies.
Q: What is the Deposit Timeframe?
A: This specifies the time between when a transaction occurs and when money is received by the merchant.
Our current deposit timeframe is 48 hours for transactions batched on Monday through Friday. Weekend transactions are batched on Monday and the timeframe will run from Monday. These timeframes are standard across the industry
Q: Do I need a Credit Card Merchant Account to process transactions?
A: Yes.
Q: What can I use my Crescent Processing Company Merchant Account for?
A: A Crescent Processing Company merchant account allows you to process credit and debit card transactions over phone line, VOIP line, or the via the Internet. You are able to accept credit card orders 7 days a week, 24 hours a day.
Q: Can merchants use their existing merchant account and process my credit cards through Crescent Processing Company?
A: No. Card transactions with your business can only be processed through your unique Merchant ID. If you cease doing business permanently, you need to cancel your MID immediately.
Q: Can I process with Crescent Processing Company if I am not a US business?
A: No. You need to have a US business address and a US bank account.
Q: Where are the funds from my credit card transactions deposited?
A: The funds from your credit card transactions are deposited into your checking account. This is the bank account which we have on file for you. If you need us to change this account, contact us and we will advise on the details we require from you. .
Q: Do you offer next-day funding?
A: Processors who offer these advances are actually taking a one-day loan from a bank and this attracts fees. We have opted against this service so our deposits are the standard 48 hour ACH timeframe.
Q: Can I view a report of fees charged for processing my credit card transactions?
www.CrescentProcessing.com
Q: What is a network?
A: This is the communications infrastructure that sends card information between merchant, Card Associations (Visa/MasterCard), and Banks. Crescent Processing Company utilizes the most reliable credit card processing network in the industry.
Q: Which credit cards will I be able to accept?
A: Your Crescent Processing Company merchant account allows you to process Visa, MasterCard, Discover Card. American Express, Diners Club and JCB.
Q: What length of time can a consumer "chargeback" a credit card transaction after it has been submitted?
A: Crescent Processing Company abides by the Card Association rules and allows 180 days to contest a transaction.
Q: What is AVS?
A: Address Verification System (AVS) matches the address information on file at the cardholder’s bank against the billing address information provided by the merchant. If the information provided does not match, the transaction can be declined. Merchants have the option of selecting the level of match required for a transaction to ensure maximum chargeback protection.
Q: How long does it take for a transaction authorization to take place?
A: Transactions submitted through the Crescent Processing Company terminal receive approval in about 3 seconds.
Q: If I do not currently have a credit card processing terminal, what are my options?
A: All Crescent Processing Company merchants are provided with all the card processing equipment they require and are not charged for this equipment.
Q: What is the Authorization fee for?
A: The authorization fee is charged every time a transaction is run through your POS terminal and connects to the host to receive a response for a transaction. This is a service and comes with a cost.
Q: What is the One Time Processing Fee?
A: This fee covers the cost of the credit underwriting process, providing a welcome kit, 2 rolls of paper, and the shipping cost of the Crescent Diamond terminal. It is a one-off, non refundable charge.
Q: How do I get additional equipment?
A: Crescent Processing does allow the option to get additional equipment. If you add services, the equipment associated with those services is free. If you need additional terminals and pin pads, these are charged for. Contact our Services Department at 1-800-618-4428 for more information.
Q: How do I settle my terminal?
A: If you are a non-auto batch operation then press the letter E (settle), enter your password, verify your totals and press “Enter”. If you are setup for auto-batch then you will have a printed report of all transactions when you get in the next day. Keep in mind you only need to batch out if you have credit or debit card transactions.
Q: Why should I batch every day I have transactions?
A: The cardholder is not debited for the transaction until you batch your terminal. The main reason to batch everyday is reduce the risk of disputes. When you authorize a transaction it only puts the amount on hold with the issuing bank. The transaction is concluded with batching. Banks also charge a higher Interchange rate for any transaction that is not batched out within 72 hours.
Q: What does Qualified Discount Rate mean?
A: This fee applies to bankcard transactions that are swiped, electronically authorized and batched within 24 hours of the card’s authorization. This is a set percentage plus the per item charge that is deducted from all Visa/MasterCard transactions processed thru Crescent Processing Company’s system.
Q: What is a Mid-qualified Discount rate?
A: These are additional percentages charged for swiped or manually keyed MC or VISA transactions. The charge occurs when electronic authorization was not obtained, but a voice authorization was. The fee can also apply to a foreign card and to keyed Visa/Mastercard transactions that automatically fall into the MQD category. The fee is charged in addition to the qualified discount percentage.
Q: What is a Non-qualified Discount rate?
A: This fee is charged to all bankcard transactions that do not meet the requirements of the qualified, mid-qualified or qualified MOTO (mail order/telephone order) categories. This may include, but is not limited to, any transactions that are keyed in without AVS matches, business cards, foreign card transactions and all transactions (V/MC) that are not batched out within 72 hours of the authorization. This fee is charged in addition to the qualified discount percentage.
Q: What is the monthly minimum charge?
A: The monthly minimum is set at $19.08 and it relates to the qualified discount paid.. You will never pay less than this so if your qualified discounts paid are less than $19.08, then you will pay the shortfall. If these discounts are more than $19.08, then you can disregard the minimum charge. If you process over $1200 per month you will be paying more than $19.08 in qualified discounts.
Q: Why don’t my batches match my deposits?
A: The two totals will differ by the discount deductions which are made each day.
Q: Can I have it changed on my account to deposit just the batch amount?
A: Yes. This can be arranged but be aware that you will pay a higher month end bill. This is because all discounts will be charged on the final business day of each month.
Q: When do the fees get deducted?
A: On the final business day of the month. If this happens on a weekend, your statement will cycle on the Friday before that weekend. The final business day of the month is when we send the ACH debit to your bank for processing.
Q: How do I contact my Sales Representative?
A: You do not need to contact your sales rep. Once your application is approved you will be allowed to deal directly with our Client Services team. This group will assist with training, queries and product services.
Q: Why does my terminal say “hold/call” when running a transaction?
A: This message comes from the issuing bank. You will need to call the phone numbers for voice-approval that are provided on the back of your Crescent Processing reference cards. If the card is approved it will give you a 6 digit authorization/approval number. You will need to enter this into your terminal via offline/force mode (see reference card). If it is declined then you need to ask for another form of payment.
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