internet merchant account

A PlanetPayment™ credit card acceptance account is a special bank service that enables your business to accept payment by credit card. Such payments can only be processed through this type of service. Planet Payment can also enable American Express® for your online business.

A payment gateway is a software program that integrates to your website for the purpose of transmitting transaction data to the credit card acquirer for both authorization and settlement purposes. It is the net's virtual equivalent to the physical world card-swipe terminal.

Simply complete our online Application Form.

Unlike most other Internet payment processing solutions, Planet Payment does NOT require that you open a U.S. bank account or have a U.S. presence of any kind in order to use our services.

Another unique aspect of Planet Payment's services is that it is a multi-currency payment processing solution. You can accept payment in up to 140 currencies, and funds can be settled into your local bank account in most major currencies.

We are currently able to process Visa®, MasterCard® and American Express® credit card transactions. We expect to expand our services to other cards, as demand requires.

The discount rate is the processing fee associated with your credit card acceptance account. It is a percentage of your gross sales.

The per transaction fee is a nominal amount charged on each transaction, which is associated with the processing of each transaction through the payment gateway and the credit card acceptance account.

A chargeback occurs when a cardholder informs the credit card issuer that a particular charge was not authorized, or that goods were not delivered as promised. If a customer alleges the goods or services paid for were not delivered, you have 7 days to produce evidence that the goods were received or that the cardholder was recredited.

In lieu of requesting an upfront security deposit, Planet Payment imposes a chargeback reserve, generally 6%, which is maintained in a rolling reserve for you. Funds are released after six months, less any amounts charged back.

In order to ensure that your customers are protected when they enter their credit card information onto your buy page, the Planet Payment gateway utilizes Secure Socket Layers (SSL) to encrypt sensitive personal information, including credit card numbers, when transmitted to the payment gateway. If your server does not support SSL, your buy page can be hosted on our gateway's server at no extra cost.

Planet Payment transfers funds from your credit card acceptance account into the local bank account you designate for settlement of funds twice monthly, on the 8^th and 23^rd of each month. Payment on the 8^th is for funds settled through the last day of the prior month; and payment on the 23^rd is for funds settled through the 15^th. When applicable, a wire transfer fee will be passed onto you each time we transfer funds to you.

All you need is a personal computer and an Internet connection.

The acquiring bank is the bank in which your credit card acceptance account is held, and from which funds are transferred into your local bank twice monthly.

When a cardholder submits their credit card information to the merchant using Planet Payment, Planet Payment Assured service enables users to be confident that the transaction will be securely completed. Planet Payment will be responsible for the purchase. Planet Payment Assured provides cardholder protection if they do not get what they pay for.