Yes. Please review our Privacy Policy for details.
Yes, Opta Pay allows you to accept and process payments from debit cards which will be ran as a "signature debit" transaction (no PIN).
Qualifying for a merchant account is determined by applying with the Merchant Application. It is dependent on the type of business, the credit worthiness of the signer, as well as the credit history of the business. As soon as you are approved, Opta Pay will start allowing the processing of card payments.
Unfortunately, Opta Pay currently does not support these payment methods, but they are on our roadmap.
Please see the Opta Pay Restricted Business Policy for full details or contact us with further questions.
This answer can vary based on a number of factors including, but not limited to, the speed in which we receive all the required documents, your risk level, and the processing program to which you have applied. Typically, the approval process is completed within 48 hours. However, this timeframe can extend depending on stipulations related to your account.
Your first payout typically occurs in seven (7) days after the first successful payment is received, but may take up to fourteen (14) days for businesses in certain industries. This is necessary for us to mitigate some of the risks inherent in providing services and reducing fraud. Subsequent payouts are made within one to two (1-2) days.
As soon as you are approved, Opta Pay allows you to start processing card payments online using our Virtual Terminal right away. If your business needs payment terminals for card-present transactions (such as for in-store purchases), payment terminals may take some time to be shipped due to current supply chain issues and shortages.
Instead of a voided check please reach out to your local banker and ask for a bank letter with the following:
Because Opta Pay is dedicated to supporting small businesses of all types, we are committed to doing our best to provide processing to all legal and legitimate businesses no matter their risk level. However, there will be some businesses or Merchants that will be unable to get approved for a variety of reasons. If you have any questions or concerns regarding if you can or will be approved, please reach out to your sales associate or contact us for a detailed analysis of your business.
Reports have shown that offering multiple payment channels to your customers equates to an increase in revenue generation. Offering customers the right easy-to-use payment tools at checkout allows your business to go beyond cash transactions, expanding your opportunities. Opta Pay supports many different payment methods, including the following:
Opta Pay currently accepts debit & credit cards from Visa, Mastercard, American Express, and Discover.
PCI (Payment Card Industry) DSS (Data Security Standard) compliance refers to the set of security standards that organizations must follow to ensure the safe handling of credit card and debit card information. The PCI Security Standards Council sets these standards and provides a set of requirements that businesses must follow to ensure that they are properly protecting this sensitive information.
Some key elements of PCI compliance include:
Organizations that handle card payments must ensure that they are PCI compliant, as non-compliance can result in fines, legal action, and damage to the company's reputation.
While you are applying for a merchant account, the banks want to see a chargeback ratio under 3%. If you are already processing with the bank and have a long-standing history they may be more forgiving. If you exceed the chargeback threshold in any given month you run the risk of account termination with Opta Pay.
A refund is when a customer disputes a charge with the merchant and the merchant returns the customer's money. A chargeback is when a customer disputes a charge with their bank or credit card provider and it is they who return the customer's money.
Put your first and last name as it appears on your government issued identification.
Most processors work with conventional (or tier-one) banks. These banks focus on retail card-present transactions, and anything that falls outside of that may be considered high risk. Each and every bank differs slightly on the types of industries allowed within their credit policy, so please contact us if you are unsure about your business' risk.
Merchants can accept payments from customers whose card’s currency differs from the merchant’s currency. When this happens, Opta Pay’s backend processor will convert the amount from the customer’s currency to the merchant’s currency. Depending on the currency being converted, the merchant may be charged a fee for the conversion if required by the back end processor doing the conversion.
Yes, there may be international exchange fees for processing non-US based cards at your US-based business. These fees can vary depending on the card issuer and the type of card being used. In general, you can expect to pay a foreign transaction fee, which is a percentage of the transaction amount that is added to the cost of the purchase. This fee is usually around 3% of the transaction amount, but it can vary depending on the card issuer and the type of card being used. Additionally, you may also be charged a currency conversion fee, which is a fee that is added when the transaction amount is converted from the local currency to US dollars. This fee is typically a percentage of the transaction amount, and it is usually around 1%.
It's important to note that these fees can vary widely and may be affected by a number of factors, including the type of card being used, the card issuer, and the terms of your merchant account agreement. It's a good idea to check with your merchant services provider or the card issuer to get a better understanding of the fees that may apply to your business.
The answer to this question seems to depend on a number of factors. The biggest factor seems to be it depends on which country the card is from. The #1 suggested solution is to go inside and prepay vs using the pay at the pump.
Tragically, there are a number of “no attendant” gas stations out there so this solution doesn’t work in all cases.
Here are some suggested solutions for pumps requiring a Zip Code:
Default: Try entering in all zeros or all nines or lastly 90210. For some pumps, the card is recognized as international and the zip code check may be skipped.
For example, 00000, 99999, 90210
Canada or England: Enter the three digits of your postal code plus two zeros.
For example, if your postal code is A2B 3C4, the 5-digit number you should enter is 23400.
Currently, Opta Pay accepts payments for American Express, Discover, Mastercard and Visa credit and debit cards. If the merchant needs to take HSA/FSA payments, Opta Pay can configure the merchant’s account to do so.
In some cases, you might be able to bypass the need to enter a zip code if the device offers a “Skip” button/option. If you are allowed to skip the zip code check, one of two things usually happens: 1. You will be asked for the PIN of the credit or debit card. 2. The transaction is processed with no further verification expected. If you are unable to bypass the zip code on your transaction window then you need to enter the zip code that is required which is typically the location where the credit card was issued.
Currently, Opta Pay does not support card payments in environments where an Internet connection is not available. This includes using our payment terminal devices as they require an Internet connection to our network. When using our payment terminal devices with the Opta Pay mobile app or web app running on a mobile device, the mobile device can be configured as a “hotspot” to provide Internet connectivity for the payment terminal device. Some Opta Pay payment terminal devices may also support 4G over cellular by including a compatible SIM card.
No. There is a risk associated with taking payments while offline because they cannot be authorized until the Internet connection is restored. This means that it is possible for an offline payment to be denied when your system goes back online, and therefore Opta Pay does not support it.
For the receipt to be considered a proof of payment by the IRS, the following needs to be on the receipt:
Funds from incoming card payments become available in your payout account two (2) business days after the payment is received. Other payment types, such as ACH payments take longer.
It can take up to five (5) minutes for your devices to receive new or updated configurations.
Currently, Opta Pay does not allow batch or delayed processing. All processing is done in real-time. Therefore, leaving tips on printed receipts is not supported at this time.
When you make a purchase with a credit card, the transaction is typically processed in a few steps. First, the merchant submits the transaction to the card issuer for authorization. If the card issuer approves the transaction, the funds are put on hold, and the transaction is considered "pending." Pending transactions are not yet reflected in your account balance, and they do not appear on your statement.
Once the merchant submits the final transaction amount, including any tip or additional charges, the card issuer will update the transaction and the pending hold will be replaced with the final transaction amount. This process can take a few days, depending on the merchant and the card issuer.
If you do not see the amount you tipped when viewing your credit card activity and the transaction is still pending, it is likely because the final transaction amount has not yet been submitted by the merchant. Once the final transaction amount is submitted, you should see the tip amount reflected in your account activity. If you do not see the tip amount after a few days, it is a good idea to contact the merchant and the card issuer to resolve the issue.
It is possible for there to be processing fees on tips. These fees may be charged by the merchant services provider or the payment processor that handles the transaction.
In general, processing fees on tips are a percentage of the tip amount, similar to the fees that are charged on regular credit card transactions. The exact percentage can vary depending on the merchant services provider and the type of card being used. Some merchant services providers may charge a flat fee per transaction, rather than a percentage.
It's important to note that these fees may be passed on to the customer, either as a separate charge or as part of the overall cost of the transaction. Some merchants may choose to absorb the processing fees themselves, rather than passing them on to the customer.
It's a good idea to check with your merchant services provider or payment processor to get a better understanding of the fees that may apply to your business.
The tips you collect with on-reader tipping are post-tax tips.
Under the Fair Labor Standards Act, employers are allowed to deduct processing fees from employees’ tips, so long as this does not hinder the employee from making at least minimum wage. However, a few states, like California, Maine and Massachusetts, prohibit this practice.
Example: A customer leaves a $5.00 tip on a $20.00 check using a credit card, it costs the restaurant 3% to process the transaction, meaning the total cost to process that transaction is $0.75. (25 x 0.03 = 0.75.) Of that total, the cost to process the employee’s tip is 15 cents. (5 x 0.03 = 0.15.). The restaurant could deduct the 15 cents from the tip under the Fair Labor Standards Act.
Opta Pay does not charge the merchant any additional fees to process refunds. The merchant will only be responsible for the amount of the refund.
Any fees incurred to do the refund are currently being changed to Opta Pay.
Note: A merchant incurring high refund rates as defined in the Opta Pay Merchant Agreement may be in violation of the merchant agreement and may have restriction to or lose the ability to continue taking payments via Opta Pay.
A refund for a credit card transaction is typically initiated by the merchant, and it is processed through the card issuer and payment processor.
Here is a general overview of the process:
It's important to note that the process for issuing a refund can vary depending on the merchant, the card issuer, and the payment processor. In some cases, the process may take longer or involve additional steps, such as manual review or additional documentation.
A void and a refund are two different types of transactions that can be used to cancel or reverse a credit card payment.
Here is a general overview of the differences between the two:
It's important to note that the process for issuing a void or a refund can vary depending on the merchant, the card issuer, and the payment processor. In some cases, a void or a refund may not be possible, depending on the specific circumstances of the transaction.
Currently, Opta Pay does not allow transactions to be voided, so the only option is to issue a Refund.
As a merchant, it is important to properly handle receipts that are signed by your customers.
Here are a few best practices to follow:
By following these best practices, you can ensure that your receipts are handled properly and protect the privacy and security of your customers.
There are several purposes for getting receipts signed by customers:
Overall, the purpose of getting receipts signed by customers is to provide a record of the transaction and to ensure that both the merchant and the customer have a clear understanding of the terms of the sale.
It is advised to keep signed receipts for at least eighteen (18) months for chargeback rebuttal. As for tax purposes, it is recommended that merchants keep signed receipts for at least three (3) years. Requirements vary based on location and tax laws.
Merchants can manually add a “convenience fee” to the total amount when submitting payments from the Virtual Terminal, but there’s currently no way to have a convenience fee added automatically.
NOTE: Some merchants add a “convenience fee” when taking payments over the phone or otherwise manually processing payments. However, merchants should check with your local and state laws to determine if convenience fees are acceptable in your jurisdiction.
Currently there is no way to add “extra fees” to any payments submitted to Opta Pay. If any extra fees need to be collected at the time of payment, they should be calculated and added into the total amount being charged.
The Address Verification Service (AVS) is a tool provided by credit card processors and issuing banks to merchants in order to detect suspicious credit card transactions, to prevent credit card fraud, and to determine if the card transaction should be accepted or rejected. The AVS checks the billing address submitted by the card user with the cardholder’s billing address on record at the issuing bank. This is done as part of the merchant’s request for authorization of the credit card transaction.
The Payment Card Industry Data Security Standard (PCI-DSS) is a set of security standards designed to ensure that all companies that accept, process, store, or transmit credit card information maintain a secure environment. PCI-DSS is a globally recognized security standard that is developed and maintained by the Payment Card Industry Security Standards Council (PCI SSC).
The PCI-DSS requirements are designed to protect against the unauthorized disclosure, misuse, and alteration of credit card data. The standard applies to merchants, service providers, and other organizations that handle credit card information, and it covers a wide range of security controls, including network and system architecture, software design, and physical security.
To be compliant with PCI-DSS, organizations must meet a set of specific requirements, including:
Overall, PCI-DSS is an important security standard that helps ensure the confidentiality and integrity of credit card data and protects against the risk of data breaches and other security threats.
PCI-DSS compliance is the adherence to the set of policies and procedures developed to protect credit, debit and cash card transactions, and prevent the misuse of cardholders' personal information. Compliance also refers to the technical and operational standards that businesses follow to secure and protect credit card data provided by cardholders and transmitted through card processing transactions.
The Payment Card Industry Data Security Standard (PCI-DSS) has four levels of compliance, which are based on the number of credit card transactions an organization processes each year.
The levels are as follows:
The specific requirements for each level of PCI compliance are outlined in the PCI-DSS documentation and are designed to ensure that all merchants and service providers that handle credit card information maintain a secure environment.
Compliance is dependent on the merchant’s PCI level which, itself, is based on the merchant’s transaction volume.
Level 1
PCI compliance applies to merchants that process six million card transactions every year. While other PCI levels only require completion of a Self-Assessment Questionnaire (SAQ), a PCI DSS Level 1 compliance requires an annual report done by a qualified security assessor (QSA) or an internal security assessor (ISA). A QSA will go onsite to conduct an audit, while an ISA can be a member of your team properly trained to perform an assessment and act as a liaison to external auditors.
Level 1 merchants also need to get a penetration test at least once each year. This is a form of cybersecurity assessment that will check your infrastructure for possible vulnerabilities. This kind of testing will give you a more comprehensive report using a manual process and automated tools compared to vulnerability testing alone.
For the Level 1 PCI audit, you will also submit an Attestation of Compliance (AOC) form, which states that you have complied with the requirements that suffice PCI DSS standards.
Level 2
Merchants who fall under the PCI Level 2 are not required to do an onsite PCI audit and only need to complete a Self-Assessment Questionnaire. There are different types of SAQs, so depending on how you’ll narrow down the scope of the audit, the number of questions you need to respond to will vary.
You might be required to have an onsite audit and an annual report on compliance if you were a victim of a data breach or if your acquiring bank sees it as necessary.
Level 3
Just like Level 2, merchants who seek a Level 3 PCI certification are required to complete an SAQ, do a quarterly network scan for vulnerabilities, and submit an attestation compliance form. At this level and below, businesses are not required to get a penetration test, although it’s a security best practice that would benefit your company to still do.
Level 4
PCI compliance is the lowest level of audit set by the major credit card companies. Aside from basing it on the number of transactions handled per year, businesses seeking this scope of the audit must not have encountered data breaches or have been a victim of a cyberattack that compromised cardholder data.
The only validation requirements for PCI Level 4 are:
Several different types of SAQ apply depending on your merchant level and the way you process payment card information:
SAQ A: For merchants that outsource their entire card data processing to validated third parties. This includes e-commerce transactions and mail/telephone order merchants.
SAQ A-EP: For e-commerce merchants that outsource their payment processing but not the administration of the website that links to it.
SAQ B: For e-commerce merchants that don’t receive cardholder data but control the method of redirecting data to a third-party payment processor.
SAQ B-IP: For merchants that don’t store cardholder data in electronic form but use IP-connected point-of-interaction devices. These merchants may handle either card-present or card-not-present transactions.
SAQ C-VT: For merchants that process cardholder data via a virtual payment terminal rather than a computer system. A virtual terminal provides web-based access to a third party that hosts the virtual terminal payment-processing function.
SAQ C: For merchants with payment application systems connected to the Internet (no electronic cardholder data storage).
SAQ D: For all other merchants not included in SAQ types A–C.
SAQ P2PE: For merchants that use point-to-point encryption. It’s therefore not applicable to organizations that deal in e-commerce.
An AOC is a declaration of an organization's compliance with Payment Card Industry Data Security Standard (PCI-DSS). It is testimony that an organization has successfully demonstrated exceptional security best practices to secure cardholder data, and has followed all requirements set forth by the Payment Card Industry Security Standards Council.
There are several steps you can take to protect yourself from fraud when accepting credit card payments:
By following these best practices, you can help protect yourself from fraud and reduce the risk of unauthorized credit card transactions.