Welcome to Signature Payments’ Knowledge Hub
Information and resources on payments and company news
Merchant Services Frequently Asked Questions
Answers to all your merchant services FAQs.
What is a merchant account?
A Signature Payments merchant account enables you to process credit and debit cards for your business. When a customer pays for a product or service with a credit card, the funds are first deposited into the merchant account and from there transferred to the business bank account.
Do I need to enter a contract to accept credit cards?
Once I run a charge, how long does it take for the money to show up in my business checking account?
What kind of credit cards and payments can I accept?
What is a monthly minimum?
What are Interchange fees?
What are processing fees?
How do I review my processing fees?
What is CVC, CVV2 or CID codes?
What is settlement?
What are chargebacks and how will they affect my business?
What is PCI?
PCI stands for Payment Card Industry. The PCI Data Security Standards are payment card network and industry mandated requirements for handling of credit card information, classification of merchants, and validation of merchant compliance. Merchants are responsible for the security of cardholder data for any damages or liability that may occur as a result of a data security breach or other non-compliance with the PCI Data Security Standards.
What is cardholder data?
Cardholder data is any personally identifiable data associated with a cardholder. This could be an account number, expiration date, name, address, social security number, etc. The PCI Data Security Standards apply to all cardholder data stored, processed, or transmitted.