FAQ's

What is a payment gateway?
A payment gateway authorizes a credit card transaction through the Internet, securely encrypts it and submits an authorization request to the card-issuing bank. It then submits the transaction to the credit card processor which deposits the funds into the merchant’s checking account.

Which bank cards does PayLeap Virtual Terminal accept?
PayLeap Virtual Terminal accepts Visa, MasterCard, American Express, Discover/Novus, Diner's Club/Carte Blanche, Japanese Credit Bureau, enRoute, debit cards and EBT (Electronic Benefit Transfer) cards.
What other payment methods does accept other than bank cards?
PayLeap Virtual Terminal also supports ACH. ACH stands for Automated Clearing House, but ACH transactions are better known as electronic checks . Market studies have shown that consumers still make more purchases with checks than with credit cards. By offering ACH as a payment option, you have the potential to greatly expand your revenues. PayLeap Virtual Terminal also accepts Gift/Loyalty cards

Can swipe card (or card present) transaction be processed?
Yes. PayLeap Virtual Terminal works with both Card Present and Card Not Present transaction. There are two types of transactions in the credit card payment world:

• Card Not Present - on-line transactions where the merchant is not presented with a physical card nor a valid signature.
• Card Present - almost all of the transactions in the retail world are Card Present transactions. In this setting, the merchant gets to swipe the card thru a magnetic stripe reader which reads the track data from the back of the card and sends it off to the bank for verification. The merchants are also required to verify the signature on the receipt against the one on the back of the card.

If the card is NOT present, as in the case of a MOTO (mail order, telephone order) or online transaction, and the cardholder asks for a chargeback on the grounds of fraud, the merchant doesn't get the money. If the case is an Internet order, then additional fees and limits apply -- besides a MOTO case.

On the other hand, in a Card Present transaction, if the merchant authorized the card and has a signature slip, the merchant keeps the money and the bank sucks it up (provided if the merchant can dig up the receipt and present it to the bank when the chargeback dispute comes in). PayLeap Virtual Terminal offers a complete end-to-end solution for signature/receipt/check image capture and retrieval system that completely eliminates this problem.

Do you support Recurring Billing, why do I want it anyway?
PayLeap Virtual Terminal offers a complete recurring billing (sometimes known as "subscription billing") system. Merchants can store customer billing information on PayLeap Virtual Terminal. A PNRef number will be created, which merchants can then use to run transactions and schedule future billings, or schedule billings which will repeat at a regular interval.

Do you have a web based interface?
Yes, PayLeap Virtual Terminal offers a powerful, easy-to-use web based interface that features merchant management, virtual terminals and extensive reports.

What do you have to help me fight fraud?
Automatically included with all PayLeap Virtual Terminal accounts are basic fraud screening tools including AVS (address verification system), Visa's CVV2, Mastercard's CVC 2, and American Express' CID. These proven tools can filter out most online fraud, and are available to you at no extra cost.

However, the ultimate fraud fighting device is our Card Present transactions combined with signature/receipts/check images capture and retrieval. This will help you significantly reduce fraud and the risk of chargeback.

How secure is your system?
Proper security is difficult and time consuming, which is why many gateways shirk in their responsibility and take the "easy way out". Your Company believes in doing things right, and that means proper precautions must be taken. All communication (between your servers, PayLeap Virtual Terminal, the acquiring bank, and the issuing bank) is encrypted end-to-end with 1024-bit RSA public/private key pairs assuring server authenticity and invulnerability to man-in-the-middle attacks.  

Does PayLeap Virtual Terminal use SSL encryption?
Yes. Our system runs in Secure Mode using SSL (Secure Sockets Layer) to encrypt all communication data.

What is Interchange?
Interchange are the amount(s) charged by MasterCard and Visa to process credit/debit cards. There are over 500 categories. In all but a few cases, Interchange is made up of two parts – a percentage of the amount of the transaction and a flat fee. All the monies generated by Interchange go to the bank which issued the card used for the transaction (Chase, Capital One, Citi etc…) to help either offset various reward program costs (sky miles, points, etc…) or to help defray legal costs associated with the collection of the credit balance.

What is a Merchant Account?
A merchant account is a contract under which an acquiring bank extends a line of credit to a merchant, who wishes to accept payment card transactions of a particular card association brand. Without such a contract, one cannot accept payments by any of the major credit card brands.

How do I sign up for a PayLeap account?
You can click on the Apply Now button at the top of this page!

Can I accept American Express and Discover?
Yes. The Merchant Services application will allow you to apply for American Express and Discover. Let your sales representative know that you would like to apply for American Express and Discover. American Express and Discover set their own rates and fees and are not reflected in the program pricing plans

What is a Chargeback?
A chargeback is the reversal of a disputed sale transaction. When a chargeback occurs the amount of the chargeback is debited from your bank account.