Can Corepay assist my business with accepting Alipay and Wechat?
Yes, as these payment methods become more popular in Europe and Asia, Corepay offers a unique PoS solution that will allow retail merchants to easily accept these two cutting-edge payment methods.
Does Corepay offer contactless PoS equipment in the USA?
Yes. Corepay is proud to offer fully EMV compliant contactless PoS equipment in the USA. Like in many other parts of the world, this will allow for a more secure and frictionless customer experience as more issuing banks offer contactless credit/debit cards.
What is VMPI and is it right for my business?
VMPI stands for Visa Merchant Purchase Inquiry and is designed to streamline the dispute process and fight fraud in a more streamlined manner than traditional chargeback alerts. Corepay is proud to offer direct VMPI facilitation, including integration via API in less than 48 hours.
What is a chargeback ratio?
Per card brand rules, it is a measure of how many chargeback claims a merchant has received compared to the number of transactions the merchant has processed in a given month.
What is a chargeback?
Chargebacks are a forced transaction reversal initiated by the cardholder’s bank, often due to fraud. Typically, merchants also pay additional fees when consumers report charge disputes to their credit card.
Do you provide payment gateways?
Yes. We always offer merchants options in choosing a payment gateway based on their back end to ensure that the gateway can seamlessly plug into their existing setup.
Do you provide Point of Sale solutions and other equipment?
Yes. Corepay offers industry-leading equipment for restaurant and retail merchants, based on their business needs and size. This includes the ever-important ability to accept credit/debit cards that are EMV enabled, both in a contactless environment, and with the traditional chip insertion method. This equipment will be offered at unbeatable prices and includes all setup assistance.
Which credit cards can I accept with my merchant account?
Your merchant account will have the ability to accept all major credit cards, including Visa, MasterCard, Discover, American Express, JCB, and the increasingly popular Alipay & Wechat.
Am I required to have a website when I apply?
For all e-commerce merchants, yes. However, after conducting our initial KYC/AML internal review, Corepay will of course provide guidance with the website to ensure that it is compliant per card scheme regulations prior to the application process.
How long does the approval process take?
After filling out Corepay’s application and submitting any necessary documentation, many merchants may get approved between 24 and 72 hours, even in most high-risk industries.
Are there any applications or set-up fees?
No. Additionally, Corepay does not charge any one-time set-up or application fees.
How do I apply for a merchant account?
What is a merchant account?
A merchant account is a type of bank account that allows businesses to accept payments through debit or credit cards. These accounts are established under an agreement between a merchant and an acquiring bank for the settlement of payment card transactions.
Do you provide merchant services for non-USA clients?
Yes. Our services cater to a worldwide audience, and we encourage our merchants to explore direct merchant account solutions in all parts of the world where it makes sense for them.
Does Corepay work with merchants who have little or poor credit?
Yes, Corepay works with merchants who do not presently have a strong credit foundation or lack credit history.
What industries does Corepay not accept as clients?
Corepay does not accept or condone any illegal business activity or business affiliated with it. All merchants must undergo a thorough in-house KYC process to ensure compliance prior to the application process.
Which industries does Corepay service?
Corepay specializes in high-risk merchant accounts for industries such as adult content, attorneys, beauty & health, CBD, collection companies, cryptocurrency, fantasy sports, firearms, forex, high ticket businesses, e-commerce, law firms, medical, MLM, online dating, sweepstakes, travel, vape, etc.
However, we are proud to service all low-risk industries, including restaurant and retail, while doing so with unbeatable prices and service.