FAQs
At eNovaPay Payments Solutions, we know that choosing the right payment processing partner is crucial for your business. That's why we've compiled some of the most common questions our clients ask, along with comprehensive answers, to help you better understand our services and how we can support your business. Whether you’re new to merchant services or looking to switch providers, we’ve got you covered.
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Most Common Payment Processing FAQs
Let's dive in to help answer some basic questions about payment processing and merchant services:
Payment gateways are an essential tool for processing e-commerce transactions securely. That’s why you need to understand how they work and what sets the best ones apart from the glut of options on the market. As businesses undergo exponential growth, many finance teams require help to manage the sheer volume of invoices. Without a solution to augment their productivity, bottlenecks form and errors creep in, damaging overall efficiency and leading to customer churn.
A merchant account is a type of business bank account that allows a business to accept and process electronic payment card transactions. It's a crucial component for any business that wants to take card payments, whether online or in-person.
A chargeback is the payment amount that is returned to a debit or credit card, after a customer disputes the transaction or simply returns the purchased item. Merchant acquiring banks will generally charge a fee to merchants for chargeback transactions. These fees are detailed in a merchant account agreement.
Yes, many modern payment processors support cross-border payments, multi-currency transactions, and localized payment methods. With eNovaPay you have the options to process multi-currency transactions.
Our card machines and payment solutions support most major international cards, making it easy to serve customers from around the world. Please note that international transactions may carry slightly higher processing fees, which we’ll always make clear upfront so there are no surprises.
At eNovaPay Merchant Solutions, we make it easy to connect your payment systems with platforms like Shopify, WooCommerce, and many others. Our goal is to keep your online sales running smoothly and efficiently. We’re always upfront about what integrations we can and can’t do, so you can make confident, informed decisions for your business.
We aim for all of our customers to get their funds within 1 business day. In some cases, this may not be possible, and in this circumstance, we will always make you aware before you sign a contract.
We understand that some industries naturally carry a higher level of risk, and we’re committed to helping those businesses find the right payment solutions. Each application is assessed on an individual basis, allowing us to tailor options that best suit your specific needs and circumstances.
The main steps are:
- Authorization (checking funds)
- Authentication (verifying identity)
- Clearing (sending transaction details to banks)
- Settlement (moving money to the merchant’s account)
ACH eCheck (electronic check) payment is a digital version of a paper check, allowing funds to be securely transferred directly from a customer's bank account to a merchant via the Automated Clearing House (ACH) network. It functions by inputting bank routing and account numbers online, bypassing physical checks, with transactions typically taking 1-3 business days to clear.
