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Frequently Asked Questions
Looking for more information about how our company works and what to expect when you hire us?
Find answers to some of the most common questions we receive below.
Frequently asked questions
What is a Merchant Account?
A Merchant Account enables you to process credit cards, debit cards, gift cards and electronic check transactions. These payment methods are convenient for your customers, and they help you get paid faster.
What are your rates?
We do not have one set rate for every customer’s business. Every business is run differently and has different percentages of swiped, keyed, rewards, and corporate cards, as well as different average sales prices. These factors all affect pricing. A member of our trained staff will do a comprehensive analysis of your current processing statements and tailor a program that would best suit your business.
Do I need a new terminal to switch to your company?
In some instances we are able to reprogram existing terminals, or even integrate so there is no noticeable change for you. For most merchants, however, new devices are necessary. The good news is we provide all necessary equipment at no cost to you, teach you how to use it for your needs, and provide on-going support, forever!
Why do I have to fill out an application/ Why do you have to check my credit?
A merchant account is similar to an open-end line of credit. You send us your transactions for processing, and we credit your business checking or depository account. Those funds are available for you to use as you wish. The transaction is posted to your customer’s credit card statement and they have the right to dispute any charges posted. If the customer disputes a transaction a chargeback may be generated, which would be debited against your business’ account. In order to assure you have the funds to cover any potential chargebacks we require a credit check.
Can internationally-based merchants open a merchant account?
No. Currently, only merchants with a physical business address in the U.S. and a U.S. checking account may process transactions.
I am opening up another location and would like to accept credit cards. What do I do next?
Reach out to your account representative or contact us by clicking Support above and we can get your new location up and running.
When will my equipment arrive?
New terminal deployments are generally shipped within 48 hours. This gives us time to obtain your new merchant number and download a terminal for you.
Fees? What is a discount rate?
A discount rate is a fee associated with collecting, assessing, approving, processing, and settling credit card transactions. This fee is often a percentage of the transaction value.
How is my discount rate determined?
Tessera Pay performs a full analysis of your business, including the way in which you accept the payments, transaction sizes, and your type of business to determine the best rate structure for you.
Will I have a personal account manager for my merchant account?
Yes! Every business partnered with Tessera Pay has a dedicated account representative, as well as access to our white glove in-house support team.
What payment solutions does Tessera Pay offer?
Tessera Pay offers solutions for all types of businesses including restaurant, retail, mobile, online, and more! Visit our Merchant Services page to learn about features, and our Hardware page to see all of our options, or reach out to us today to learn more.