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  1. Do I have to incorporate offshore to use World Paymentnet Ltd for processing? In most instance, NO. Merchants that do not have a business entity formed yet can start immediately simply by submitting their personal information instead. Established business must submit and document their status to qualify for the best rates.

  2. How often does the acquirer pay the merchants for deposits or batches? Merchants are paid deposits weekly.

  3. Does it matter where I am incorporated? YES you must be incorporated in the region of the world where the merchant bank is located. We can assist with this process.

  4. Is there a volume restriction on the amount of credit card transactions I can do in a month? NO.

  5. How can I learn more about the alternative billing solutions? Contact World Paymentnet Ltd and one of our professional representatives will explain in detail how every solution works and what the benefits are.

  6. I am a new business, will I get approved for an offshore merchant account? Our acquirers approve companies on a case-by-case basis. What's important to us is your business plan or model and how you intend to ramp up the volume.

  7. I have been placed on the TMF list (Terminated Merchant File), will I still be approved? Possibly. Each company is approved on a case-by-case basis.
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  8. How does the gateway work, can it be used as a virtual terminal? The gateway is easy to use and easy to integrate. The technicians will walk you through the whole process. The gateway comes with all of the scrubbing parameters (fraud prevention measures and databases) included and may be used in combination or separately as a real-time Internet solution or a virtual terminal. This of course depends on what business category you are in.

  9. Are there any monthly maintenance fees involved? Unlike most companies we do not penalize merchants with excessive fees. We do have a monthly minimum for procesing volume and all fees are provided prior to acceptance.

  10. What fees are associated with an offshore merchant account? We have 3 basic fees: the transaction fee, discount fee which varies according to business; (reserve usually 10%); chargeback fee. We keep it simple, NO hidden charges, NO garbage fees and NO excessive application fees.

  11. What does your transaction fee include? The bank, gateway and fraud scrubbing fees are all bundled into one fee.

  12. Why does your discount rate vary? Discount rates are quoted by analyzing your past processing statements, company financial strength, credit ratings, business category, amount of time in business and other information you provide.

  13. What is the reserve and how long is it held? The reserve is usually 10% of each merchant’s approved volume. Reserves are held by banks to ensure against losses due to uncollected fees, merchant fines, excessive chargebacks, etc. The reserves are held for a minimum of 180 days.

  14. Is there a minimum for processing? A suggested minimum is $5,000 per month.

  15. Will we have our own merchant account and our own descriptor? Depending on size, category and risk, merchants can obtain their own custom descriptors.

  16. Do you require security deposits upfront? NO.

  17. In what currencies can I settle in? Multiple currency settlements available.

  18. Can I accept different currencies from around the world? YES.

  19. How long will it take to get a High Risk merchant account established and processing? The length of time will vary on how quickly the paperwork and documentation is received by World Pay, Ltd. Once we have all the required documentation, approval typically takes one day. After that, smaller merchants can start processing immediately. Larger or higher risk accounts take about 2 weeks to become fully integrated and processing.