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FAQ #1
What is a merchant account?
a -
A Merchant Account is a facility with a bank or financial institution enabling
a business to accept credit/charge card payments in exchange for goods and services.
It's also known as a Merchant Agreement.
FAQ #2
How do you set up a Merchant Account?
a -
You need to apply with a participating bank, such as ANZ, BankWest or St George.
FAQ #3
What is an Internet Merchant Account?
a -
An Internet Merchant Account is a supplementary facility to a Merchant Account,
allowing merchants to accept card payments over the Internet. When applying
for a Merchant Account you will need to specify that you wish to apply for an
Internet Merchant Account.
FAQ #4
Do I need an Internet Merchant Account?
a -
Yes, an Internet Merchant Account with a participating bank is required for
you to utilise the e-payment system, however you don't have to change your bank
accounts as funds can be credited to any Australian bank.
FAQ #5
What types of credit cards does e-payment process?
a -
Bankcard, Visa, MasterCard, American Express* and Diners Club*.
* Note: to accept American Express and Diners Club cards,
additional Merchant Accounts are required with American Express and Diners Club respectively.
FAQ #6
What is a real-time transaction?
a -
A real-time transaction is one that is processed by a bank at the time of the
purchase. An EFTPOS purchase is an example of a real-time transaction.
FAQ #7
Why is it essential to provide real-time payment processing?
a -
Real time payment processing offers benefits to both the merchant and the customer.
The merchant receives payment immediately with the order. No cash-flow problems,
no invoicing costs, no collection hassles and no bad debts. The goods can be
dispatched immediately because payment is complete, ensuring the fastest delivery
time for the customer.
FAQ #8
How long does it take to process transactions in real time?
a -
Typically, a transaction takes approximately 15 seconds. This time may vary,
depending on the quality of the Internet connection between the customer and
the merchant's website. Once the transaction request has reached the e-payment
system, via the Internet, the bank will process it within a couple of seconds.
FAQ #9
What type of transactions are supported with the e-payment system*?
a -
The following types of transactions are currently supported:
*Note: End-of-day settlement of card transactions with the bank is
done automatically by the e-payment system.
FAQ #10
Is there a requirement to have a shopping cart facility to use the e-payment system?
a -
No, it is not necessary to have a shopping cart to use e-payment although the e-payment system can be integrated with an existing
shopping cart program or Interactive Worldwide (developer of e-payment)
can supply a shopping cart program known as e-merchant.
FAQ #11
Is the e-payment system secure?
a -
The e-payment system has been designed from the ground up with security in mind. Our
transaction processing servers are hosted behind secure firewalls and have been
independently tested by security experts.
Communications with the e-payment transaction server are secured with "strong"
128 bit SSL encryption while transaction security is ensured with 1024 bit RSA encryption.
Payment transactions connect to the existing secure EFT (Electronic Funds Transfer)
Network. This network is currently used by banks for EFTPOS and ATM transactions.
FAQ #12
Why is e-payment more secure than most of the payment gateways currently available?
a -
Following recommendations made by the banking community, e-payment does not store credit card
information on any of its systems. Theft of credit card databases and subsequent fraudulent
use has occurred with other e-commerce systems (but is often kept as quiet as possible as
it is not in the interests of the merchant or the payment system provider involved to
publicise such breaches of security). In the e-payment model, the merchant server (the web server
displaying product information) never sees the card details, therefore theft of sensitive
credit card information is not possible.
FAQ #13
What kind of reporting is provided to the merchant?
a -
The merchant can log on to the e-payment server, with a username and password
supplied to them, and access a complete list of all transactions for a specified
online shop. The merchant can view totals for the month/week and generate usage
reports to evaluate peak transaction times.
FAQ #14
How easy is it for customers to pay for goods online?
a -
The e-payment software requires minimal information from the customer such as:
- Card Number
- Expiry Date
- Name on the Card
- Transaction Amount
FAQ #15
What does e-payment cost?
a -
e-payment costs as little as $750 to set up. There is a charge for each successful
transaction processed, with a minimum monthly charge of $20.
FAQ #16
Who is e-payment?
a -
e-payment offers total business-to-business and business-to-consumer eCommerce Solutions and Services
to small, medium and large enterprises, and government organisations. Services include
Web Design and Hosting, Domain Name Registration, Shopping Cart software and other innovative
products for the online world.
Copyright 2000 - 2008 ePayment Pty Ltd. All rights reserved. The
information and graphics contained on this web site remains the property of ePayment Pty Ltd.
All other trade marks are registered trade marks of their respective owners.
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