List Of Questions
Frequently Asked Questions
Q.: How long will it be until I receive my funds?
A.: After processing a payment, transactions are stored either in the memory of your credit card terminal or on your processing network until batches are closed. Later the transactions are sent electronically to a merchant processor for settlement and funds are deposited in your bank account. For most accounts, we provide next day merchant funding.
Q.: What type of businesses use Reliance Star Payment Services?
A.: We provide payment services to small- to mid-size businesses, from retail storefronts and restaurants to catalog companies, eCommerce shopping carts, home-based businesses, gas stations, supermarkets and more.
Q.: What kind of payments types can I accept?
A.: You have the option of accepting credit, debit, Electronic Benefits Transfer (EBT), checks, gift and loyalty cards, purchasing/corporate/government cards, ePayments and many more. Please contact our sales representative directly for more information about payment acceptance.
Q.: What rates can Reliance Star Payment Services offer me?
A.: We guarantee the lowest rate processing rates in the industry. If a competitor offers you a better rate, simply provide us with a documentation of their offer and we will match or make it better.
Q.: Do you have special programs for different industries?
A.: We custom tailor solutions to meet virtually any merchant need. If you don’t see a solution or an industry on our website, don’t worry—just give us a call. We’re happy to recommend and assemble the best solution to meet your business needs.
Q.: Are your monthly statement easy to read, and who will walk me through my first one?
A.: Our monthly statement is extremely easy to read and provides all the information you need to balance your books. Your local sales agent will take you line-by-line through your first statement to make sure you completely understand the fees assessed and the amount you are saving.
Q.: What is PCI compliance?
A.: All merchants must be Payment Card Industry (PCI) compliant with Data Security Standards (DSS). PCI DSS is a set of requirements designed to ensure that companies who process, store or transmit credit card information maintain a secure environment. PCI DSS applies to all Reliance Star Payment Services customers. As part of our Services Bundle Program, we offer PCI DSS programs and assistance to make sure your business becomes and remains compliant with the standards.
Q.: What is IRS Reporting?
A.: The federal Housing Assistance Tax Act of 2008 included the enactment of new Section 6050W of the Internal Revenue Code that requires reporting entities to annually report payments in settlement of payment card and third party network transactions to the IRS for all merchants. Reporting entities will be required to file an annual information return with the IRS and provide each merchant with a corresponding Form 1099-K, reporting monthly and annual gross sales. The first such information return and Form 1099-K will be due in January, 2012 for 2011 calendar year transaction activity.
Section 6050W also requires reporting entities to perform backup withholding from merchant funding by deducting and withholding Federal income tax, (Federal withholding is currently 28%) from the gross sales amount of reportable transactions if (a) the merchant fails to provide the merchant's TIN to the reporting entity, or (b) the IRS notifies the reporting entity that the TIN (when matched with the name) is incorrect. Merchants subject to Federal income tax backup withholding may also be subject to backup withholding for specific states as applicable. To avoid backup withholding, beginning in 2012, it is very important that merchants provide the correct name and TIN that is used when filing their tax return that includes the transactions for their business.
Q.: What are my options for mobile and wireless processing?
A.: We offer several options for mobile and wireless processing. Wireless point-of-sale terminals are available for remote processing as well as the popular, VeriFone PAYware Mobile solution that transforms Apple iPhones into payment acceptance devices. In addition, some of our equipment comes with “Store & Forward” functionality which allows off-line payment card information capture for later processing which is how onboard airline purchases of food, beverages and other miscellaneous items are made today.
|Headquarters Office:||+1 888.893.7227|
|Customer Service:||+1 888.893.7227|
|Technical Support:||+1 888.893.7227|
|24 Hour Technical Support:||+1 800.228.0210|
|Merchant Account Sales:||+1 888.366.2788|
|Agent/ ISO/ Partner Recruitment:||+1 888.388-8138|
|Agent/ ISO/ Partner Fax:||+1 888.883.8538|
* Please contact one of our representatives to find out more: +1.888.366.2788 or email@example.com