FAQ – Open an Internet merchant account

Q : What are the steps needed to open a Cashtronics account?

1. Fill-in your quote request form.
   
2. We will send you a form to complete and the list of documents send back to us.
   
3. After receipt of your information, we will proceed to open your merchant account with the bank that most suits your business profile
   
4. Within eight days, we will get back to you with all the information that you will need to connect the Secure online payment gateway to your Internet website.

Q : How long will validation of my application take?

Approximately ten days. In some cases, this time can be reduced to a week.



Q : Are there any sectors of activity which you don’t work with?

Our partner banks are very flexible and work with most sectors. We observe very few refusals.
Whatever your activity is, please contact us and we will inform you of the chances of your application being accepted. If your application is refused by several banks, the application fee will be returned to you in full.



Q : My company’s head office is in a foreign country. Can I use your services?

Of course, our services are intended for use by any company in Europe, regardless of where your head office is located (including Switzerland and some other countries such as Israel).
Please contact us if you have a non-European company or require processing outside of the EU, as we are presently developing cross-border agreements.

Q : What is the role of Cashtronics?

In essence, Cashtronics is the link between you, your e-commerce website, your customers, credit-card companies and the bank.
We provide the means for you to obtain an Internet Merchant Account and a secure online payment gateway. Our technology calculates the risk associated with transactions and refuses any attempt of fraudulent transactions.
We carry out the data exchange with the banking networks.
We credit the amount of your transactions directly to your merchant account within the agreed timeframe.
We provide you with transaction tracking functions and greatly simplify your accounting.



Q : What is the role of the bank?

It is part of the chain allowing cash payments to be made using bank cards over the Internet.
The bank receives the payment authorizations or the payment refusals relating to the purchaser’s cards whilst providing the connection to the bank card networks (such as Visa, MasterCard, etc).
It carries out several basic security checks about the cardholder.
It withdraws the amount of the transaction from the actual credit card holders account and transfers it to your account.
The Bank debits your account when you make a reimbursement.
The Bank reimburses the cardholder in the event of fraudulent use of his or her card (chargebacks).



Q : Why do I need an Internet Merchant Account? Why can’t I cash the transactions on my company’s business banking account?

On its own, your business account does not permit bank cards to be cashed over the Internet.
You will also need an Internet Merchant Account (Cashtronics can easily set this up for you) and an online payment gateway.
The partner bank authorizes you to accept internet payments and commits to send the amount of the sales to your account.
Cashtronics offers you a complete solution.



Q : How will I receive my payments?

In your business banking current account by credit transfer (After the end of the fund-retention period, your money is freely available for you).
If your business is carried out under your own name (sole trader), you can make a credit transfer directly to your personal account.



Q : What security guarantees do my online shop customers have?

1- The SSL protocol is used for the encryption of all data. This means that bank card information cannot be used by any third party while the information is being transferred between:
- the purchaser and the Cashtronics server and
- the Cashtronics server and the bank’s servers.

2- Cashtronics' servers are protected by a proprietary anti-intrusion and anti-thief system: Cashtronics e-Bunker.

3- The bank card networks, for their part, carry out a series of additional security verification checks to authorize the transactions, in collaboration with the banks of their cardholding customers.