ABOUT US

WHO IS RISK COMMERCE MERCHANT SERVICES?

Risk Commerce is a private processing company that offers a wide range of payment processing solutions to its clients. We are the premier provider of merchant accounts, gaining the experience and knowledge needed to perform and excel at the highest level for our clients. We are devoted to providing best-in-class customer service and the highest level of support to ensure our clients success. Our goal is to help you make the most out of every transaction with payment solutions that fit your needs.

DO YOU HAVE AN OFFICE IN MY AREA?

Risk Commerce headquarters is located in Miami, Florida, where we have a fully staffed team of industry knowledgeable and experienced representatives to help answer your questions and address any concerns you may have.

HOW DO I APPLY FOR A MERCHANT ACCOUNT?

Applying for a merchant account with Risk Commerce is quick, easy and convenient. One of our experienced and knowledgeable sales representatives will walk you through our services, products, and recommend a payment solution based on your businesses needs at Toll Free (877) 609.2157

WHAT CREDIT CARDS CAN I ACCEPT?

Risk Commerce enrolls you to accept Visa, MasterCard, Discover and Amex.

CAN I ACCEPT DEBIT CARDS?

You can accept debit cards through Risk Commerce for debit networks throughout the United States. Contact your sales representative to enroll you in a debit card program.

HOW ARE MY MONTHLY FEES PAID?

Monthly fees are automatically debited from your business checking account the first week of each month for the previous month’s fees. There is no need to send in a check to pay fees.

WHAT ARE MY MONTHLY FEES?

Monthly fees vary based on the type of your account. All merchants pay a monthly minimum, a statement fee, and a Discount Rate and Authorization fee on every transaction. Refer to your Merchant Bankcard Agreement for your specific fees.

HOW DO I REQUEST MORE INFORMATION?

To request more information about setting up a merchant account with Risk Commerce or simply see the benefits of working with us, you can check us out at Risk Commerce, or email us at info@riskcommerce.com

ACQUIRER: The company (typically a federally insured financial institution) responsible for connecting merchants to Visa and MasterCard authorization and settlement systems. Acquirers are one of only two entities (the other being merchant banks) that are the actual signatories to merchant agreements. To sell bankcard services, you must have a signed agreement with an acquirer and acquirer-sponsored ISO (like NAB).

ASSESSMENTS: The fee that is paid to MasterCard and VISA for marketing and administrative costs. This is a percentage of the sales passed through interchange.

AVS: Address Verification System (AVS) is an optional service that helps protect against credit card fraud by verifying the identity of the person claiming to own the credit card is correct. The system will check the billing address of the credit card provided by the user with the address on file at the credit card company.

AUTHORIZATION: An electronic exchange between a card-issuing bank and the merchant-acquiring bank, initiated through a POS terminal, confirming a cardholder has sufficient credit (or funds in a DDA if it is a pin-based debit transaction) to cover a pending transaction.

BATCH: When the merchant electronically sends their captured transactions to their acquiring bank for settlement. Batches may be opened and/or closed automatically or manually. Most terminals can be programmed to batch out automatically at a certain time each day. However, some merchants, such as those taking tips (like salons or restaurants), need to manually reconcile their tips and then manually batch their terminal to ensure accurate batches and the most advantageous cost associated with those transactions.

BIN: Bank Identification Number; a numerical code assigned to each federally insured financial institution for the routing of transactions and other purposes. ISOs and MLSs board merchants using the BINs of their respective acquiring or merchant banks.

CARD NOT PRESENT: A type of transaction (for example, Internet or MOTO purchases) for which the customer’s card is not presented to the merchant at the POS. Interchange is set higher on these transactions because there is an increased risk with these types of transactions.

CARD TYPE: Refers to the brand of card – Visa, MasterCard, Discover, Amex and what type of card – consumer credit, business, check card, rewards, etc.

CHARGEBACK: A chargeback occurs when a cardholder’s bank (the card issuer) reverses all or part of a card transaction, leaving the merchant financially liable for the payment and subject to penalties – unless it can be proven the merchant was not at fault.

CVV: Card Verification Value; a value encoded on the magnetic stripe of the card. CVV is used as a security feature for transactions in person (swiped retail transactions).

CVV2: Card Verification Value 2; a three or four digit number physically imprinted on the back of the card. CVV2 is used as a security feature, and often is mandatory, for card-not-present (MOTO/Internet) transactions. CVV2 data is not embedded in the magnetic stripe.

DBA: Doing Business As; the name under which a business is operating. The DBA name may or may not be the same as the corporate name.

DEBIT CARDS: Debit cards are issued by financial institutions and tied to cardholders’ DDAs. Sometimes referred to as online debit cards, these cards carry the logo of one or more debit network and require the input of cardholder’s PIN at the point of sale.

GATEWAY: In payment processing, a gateway is any network that connects merchant POS terminals with transaction processing and settlement networks, such as the MasterCard and Visa settlement networks. Gateways can also provide related services, including transaction management and reporting. Gateways more commonly refer to an Internet Gateway, which allow merchants to set up shopping carts or accept transactions when the card is not present.

MSP: Member Service Provider; an ISO or other company registered with a Visa or MasterCard member financial institution to sell bankcard services.

PCI DSS: Payment Card Industry Data Security Standard; established for securing payment card information. Failure to adhere to the standard (by any party that handles card information, including merchants and ISOs) can result in substantial fines; often shortened to PCI.

PIN: Personal Identification Number; used to process PIN-based debit transactions.

PROCESSOR: The company that moves transactions on behalf of acquirers between merchants, banks, and the card networks.

RETRIEVAL REQUEST: When a chargeback is initiated, the merchant’s processing bank sends to the issuing bank additional information about the transaction. The Retrieval Request fee is billed to the merchant regardless of the outcome of the chargeback.

TRANSACTION: A payment card sale or refund between the cardholder and merchant.