How long does the approval process take?
How soon will I get my money after the transaction is processed?
Do I need a business license to obtain a merchant account?
Do I need a business checking account to obtain a merchant account?
Do I need to have an American Express or Discover account before I apply?
What is the discount rate?
What is Interchange fee?
What is NPF?
The fee will be billed on one line item and one amount on the merchant’s month end statement with a descriptor of “Visa NPF” for TSYS merchants.
The fee amount will vary from merchant to merchant and is calculated by Visa based on a number of factors including:
- Number of Tax ID’s
- Card Present vs. Card Not Present
- Merchant Category Codes (MCC)
- Number of Locations
- Visa Gross Monthly Sales Volume
If a merchant does not process any Visa cards during the month, a minimum fee of $3.00 is still charged to the merchant.