Frequently Asked Questions

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A chargeback is a transaction that is disputed by either the cardholder  or the cardholders financial institution. These occur when a cardholder  disputes a charge or when the proper procedure for acceptance and  authorization isn’t followed. The chargeback is then sent to the  merchant, debiting the merchant deposit account for the amount of the  chargeback. A fee is often tacked on as well for failure to follow card  authorization and acceptance process and procedures. There are many  reasons for a chargeback, including but not limited to a card holder  dispute, an error on behalf of the staff of the merchant, or improper  authorization process. Protect your business and stop frequent  chargebacks by ensuring precise processing procedures.

Card Network strongly suggests transactions should be batched daily.

Most businesses prefer using Internet-connected terminals for quick and  easy transactions. This means an additional landline is not needed to  process transactions. However, if you decide to use a machine that uses a  telephone line, make sure it is separate from your main phone line.  Using the same line can cause issues in slowing down or interrupting  transactions, causing issues with accepting payment and frustrating both  your business and your customer.

NFC technology allows two devices equipped with the NFC chip to be  placed next to each other to exchange data. Both devices must have the  required NFC chip in order for this to work. NFC transactions are  considered very safe, as it creates a digital signature that is  completely unique.

An Acquirer is the financial institution that is responsible for  maintaining the merchant credit card processing relationship and  receives the merchant transactions. They then distribute these  transactions to the card member banks. The financial institution that  issued the credit card to the card holder is called an Issuer.

You can see your deposits within 24-48 hours, excluding bank holidays.  You can receive your deposits in this time-frame if your account  qualifies after you batch your POS.

The average length Most Card Network service agreements are month-to-month.

PCI DSS, or Payment Card Industry Data Security Standard, is a set of  requirements ensuring that companies process, store, and transmit card  information while maintaining a secure environment.

An annual PCI fee is assessed by Card Network to alleviate the costs  associated with maintaining compliance, as well as terminal software  updating and hardware replacement for non-compliant equipment.

All merchants that accepts, stores, or transmits payment card  information must be PCI compliant. The PCI mandate is part of the Card  Brand operating regulations. These regulations set standards under which  businesses are allowed to operate merchant accounts and accept cards  for payment. When you open an account with Card Network, you must sign  the terms and conditions that state Card Brand operating regulations  must be obeyed. You can learn more at https://www.pcisecuritystandards.org/

In late 2015, card issuing banks alerted businesses and customers about  the new EMV (Europay, Mastercard, Visa) chip. This chip set the global  standard for all debit and credit card transactions as a joint effort  between all three card companies to make sure each card type would be  accepted globally and kept secure. The good news: EMV cards do a great  job preventing card cloning and halting fraudulent transactions,  particularly at points of sale, or POS transactions. The PIN feature is  an added security factor that requires additional authentication outside  of a simple swipe. If you do not accept EMV cards, your business is at  risk of disputes, forcing you to cover the cost of the entire  transaction (and possibly fees) if a customer does not enter their PIN  with their chip card at a POS. EMV compliance may be an extra step or  two for both you and your customer, but the transactions are secure and  you are taking steps to secure and protect your business from fraudulent  transactions or needless disputes.