Here are some of the common questions about Agapay.
How are you different than the other companies?
Agapay’s mission is to spread the culture of giving back to the community all while providing elite customer service and lower prices. Agapay donates 5% of its gross revenue from our partnership to a nonprofit of your choice. Meaning each and every transaction gives towards a cause. Since our inception, we have given over $12,000 to many organizations including Susan G. Komen®, Santa Ana Public Schools Foundation, and CHOC Children’s Hospital. The best part is that we work with you to see that the funds go where you want them!
What kind of support can I get when I sign up with Agapay?
In what states can you do business?
We can do business in all 50 states. We currently have offices in the Philippines and are looking to expand even further.
What are your rates?
Our rates are determined on a case by case basis, depending on your needs, services and business type. This increased flexibility allows us to provide a customized plan to suit your individual needs – no pre-packaged, one-fee-fits-all programs. In most every case we can save you money!
What type of options do I have for accepting payments from my customers?
How fast can I get my business approved?
What paperwork do I need to submit to get approved?
What is a payment processing fee?
What is a Chargeback & Retrieval?
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.
Why is my business considered high risk?
What is EMV and how does it affect me?
What is this PCI Non-Compliance Fee?
When will I receive my deposits from transactions?
Can I process payments with my cellphone or tablet?
How is a Void different from a Refund? And how is that different than a Reversal?
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.