Below is a list of your obligation when accepting and processing credit card transactions.
THE VIOLATION OF THE FOLLWING RULES MAY RESULT IN IMMEDIATE TERMINATION OF YOUR MERCHANT PROCESSING ACCOUNT.
- ㆍMerchant may not under any circumstances accept or process Visa and MasterCard sales for another merchant (business) through his/her credit card terminal. This is known as factoring of tickets, and it is illegal.
- ㆍMerchant cannot enter by hand transactions in excess of the percentage stated on their merchant agreement without the written consent of Card&Beyond.
- ㆍMerchant cannot deposit any transactions for the purpose of obtaining or providing a cash advance.
- ㆍThe merchant account should be activated within ninety (90) days of issuance of the merchant number, and should not be inactive for over ninety (90) days without notifying Card&Beyond.
- ㆍMerchant cannot impose a surcharge on credit card transactions.
- ㆍMerchant cannot require a cardholder to provide additional identification or information when a credit card is properly presented.
- ㆍMerchant cannot require a cardholder to make a minimum or maximum transaction when using a credit card for payment.
- ㆍMerchant cannot change the basic nature of his/her business, including selling any products or services not related to the current business, without notifying Card&Beyond in writing.
- ㆍMerchant should obtain an imprint of the credit card when it cannot be swiped through the credit card terminal.
- ㆍMerchant should perform a batch transmittal (“close the batch”) on his/her terminal daily to transmit transactions promptly to avoid non-qualifying transactions. If a merchant’s terminal is programmed to automatically close, the merchant should verify daily that terminal has transmitted all transactions.
- ㆍA merchant cannot split a ticket on any transaction.
Card&Beyond monitors your merchant processing account daily for exception transactions and may, upon reasonable grounds, suspend the disbursement of funds for any reasonable period of time required to investigate any unusual deposit activity.