FAQ's
More information on processing credit cards
Real-Time Processing vs. Batch Processing
How do I know which solution to use?
Internet Commerce Set-up
Do you offer the Verified by VISA® service?
Security on the Internet...How secure is your product?
What are the costs of Caledon's solutions?
Obtaining Merchant Accounts
How do I get my merchant accounts?
More About Caledon Card Services Inc.
What makes your software system different from what the bank is offering?
More information on processing credit cards
To process a credit card payment a Merchant requires two things:
Caledon Card Services can provide both a merchant account and the processing solution to allow merchants to process credit cards. A merchant account is a financial arrangement that gives the merchant the ability to accept credit cards for payments. Merchant accounts are different than bank accounts. Merchant accounts available through Caledon include VISA, MasterCard and AMEX. Processing or Gateway solutions are required for capturing transactions and then forwarding them to Caledon for processing. Examples include POS terminals, virtual terminals and integrated website processing solutions. The choice of solution depends on a number of factors but deciding on real-time and batch file solutions is usually the first step. |
Real-Time Processing vs. Batch Processing
| Q: | How do I know which solution to use? |
A: | Real time transactions mean that the authorization takes place in real-time. In other words an authorization request receives a response within seconds as to whether the credit card has enough available funds left to fund the transaction. Examples of real-time solutions include: POS terminals, virtual terminal and an integrated website payment processing solution. These solutions are generally required when the seller needs to know that the credit card has sufficient funds before releasing the goods or assembling the order. Batch file solutions are bunches of transactions that are usually gathered from a different system (i.e. order entry application) and are forwarded to Caledon in a single file. The purpose of sending the file is to obtain an authorization and settlement for transactions. Since this does not happen in real-time, batch files should only be used when immediate results to an authorization are not required i.e. a response within an hour or the next day is acceptable. The volume of transactions to be processed may also dictate the type of solution required. |
Internet Commerce Set-up
| Q: | We have merchant accounts and want to sell our product over the Internet. What can you do for us, and how long will it take? |
A: | We will provide you with a Processing Agreement, Interface Specifications, and assistance as required for your website implementation. You will need to complete our Electronic Commerce Request Form so that we can confirm that your merchant accounts are set up for Electronic Commerce and ensure that the deposit funds will end up in the correct bank account. The elapsed time will vary based on factors such as the response time of your financial institution/acquirer but you should allow for around two weeks. |
| Q: | Do you offer the Verified by VISA® service? |
A: | Yes, Caledon offers Verified by Visa®, as well as MasterCard's SecureCode™. |
| Q: | Security on the Internet...How secure is your product? |
A: | Caledon's systems and products are designed to ensure security requirements are met, including the use of industry standard 128 bit SSL encryption to securely process all transactions transmitted via the Internet.
All systems are continually monitored for intrusion attempts and improvements are made on a regular basis as technology evolves. |
| Q: | What are the costs of Caledon's solutions? |
A: | The cost will be dependent on the type of solution that fits with your business' current and future plans.
Contact us so that we can discuss your company's requirements. |
Obtaining Merchant Accounts
| Q: | How do I get my merchant accounts? |
A: | Complete our Merchant Account initial information form and forward to Caledon Card Services. Caledon will contact you and after a brief conversation provide you with a Merchant Discount Rate (MDR) and other associated fees for a VISA and MasterCard merchant account.
If you want to accept American Express cards then you will need to contact American Express to obtain a merchant application form. |
More About Caledon Card Services Inc.
| Q: | What makes your software system different from what the bank is offering? |
A: | Caledon's solutions work with all of the major financial institutions; a bank's solution typically connects only to their own systems. If you choose to change financial institutions than you simply need to provide us with new merchant account information. We will coordinate the switch for your transaction processing and setup the new information on our system. No cost for the setup changes and no development effort required on your part. Caledon also offers processing for private label credit cards such as HBC and Sears. |
| Q: | What operating systems/server platforms does your software run on? How do we interface to your online systems? |
A: |
Our solutions support a wide variety of systems/platforms and can be implemented quite easily.
Please contact us for information and technical specifications on how to interface using the operating system/server platform of your choice. |