Knowledgebase: How To's
How To - Get merchant services gateway account?
Posted by on March 28 2013 06:36 PM


A: To integrate an exchange's merchant account, we need your Merchant ID, their Bank ID, your checking account number and the ABA routing number so that batch processing settles through your merchant account to your checking account.

Also, an exchange should let us know if they want to set-up ACH payments by checking account, whereby their gateway account can charge member's checking accounts. There is a one time gateway set-up fee for ACH ($55), and then there are per transaction fees. Exchanges don't pay the approx 2.2% interchange discount rate charged by their credit card companies, which is a savings for any member paying by checking account.

Bank ID explanation:

All U.S. merchant processors set up a merchant account and provide a Merchant ID that identifies the merchant and a Bank ID that identifies the bank that the settled funds are deposited to, we need to add both of these numbers to NMI or, the two gateways VB is integrated with in order for credit card processing to settle to a bank account.

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