Typically a decision is made within 2-4 business days after the application is submitted. However, depending on the business type, industry, and risk level additional documents and verification may be required during the decision process.

Chargeback – When a customer issues a complaint to their credit card company, a chargeback is issued. These include the unauthorized use or fraud, failure of delivery, wrong items or orders (wrong color, size, etc.), overcharged, etc. When a chargeback occurs, the amount in dispute and a chargeback fee will be deducted from the business’s account, and a letter will be sent to the store requesting documentation and an explanation. Once the business’s response is received, a determination is made, if the business wins the dispute, the money is returned (minus the fee that was charged). If the merchant loses, the money is returned to the cardholder.
Retrieval – A retrieval occurs when a customer or card issuer questions the validity of a charge. Generally, a retrieval is satisfied by submitting the signed transaction receipt/ credit card authorization and a copy of the itemized receipt or invoice. If a merchant fails to respond within the specified time or does not provide appropriate documentation, the retrieval can become a chargeback.

The deposit time varies based on your industry and business type. For many retail businesses, upon approval from our underwriters, we can provide funding on the next business day. Most other businesses will likely see their deposits in 2-3 business days.

First, we must understand there are two parts to every credit card transaction; authorization and capture. When a customer swipes or enters their card number an authorization request is sent to verify funds and a hold is placed on their account for the transaction amount. Capture is when a transaction is processed and the funds are transferred from the cardholder’s account to the business. Capturing should be done daily, by you, the merchant.
Void – A void can only occur before payment has been captured. When a void is processed, the transaction is cleared from the terminal before settlement, so the money will never move from the cardholder’s account, and the hold will drop off within 3-5 business days.
Refund – A refund is required when the transaction has been captured. A refund is the same process as a purchase, but in reverse. The amount is authorized and is captured when the terminal settles, and the cardholder will see the amount in their account within 3-5 business days.
Reversal – A reversal is similar to void. It must also be processed before capture (like a void), but differs in that a notice is sent to the cardholder’s bank to remove the hold. In order to process a reversal, your terminal must be programmed to process it.

Agapay has limited employee openings. However, we are always looking for exceptional and independent sales reps and affiliates. For more information on how to work with Agapay, send us an email at partner@agapay.gives.