FAQ


What does MojoPay do exactly?

MojoPay works by allowing sellers to accept online payment for their goods and services. After you are approved, integrate your website with MojoPay using a shopping cart of your choosing. Your customers will order on your site, and then pay within MojoPay’s secure PCI compliant payment page. When the order is completed successfully, we will send the customer an order confirmation.

Where can I find my account information?

You can find this information under “account information” under the “my account” navigation link in your portal.

What online shopping carts will work with MojoPay?

 

1shoppingcart Prestashop
ablecommerce Plugnpay
A Securecart Practice pay solutions
Ashop commerce Quik store
cart32 Roman cart
Cartmanager Shopsite
Comersus Cart Shopstorenow
Digishop sumeffect Shop visible
Distributrak Squirrel cart
Ecartsoft Store front
Kynet Ltd Stores online
Ecommerce templates Ultra cart
Future web services Volusion
Go ecart Virtue Mart
Mch solutions Webassit
Media chase Woocommerce
Magento Xcart
One smart cart ZenCart
Os Commerce And Others….

Do we offer seller reporting?

We Sure Do! In these formats:

  • PDF
  • XML
  • CSV
  • XLS
  • RTF

What Payments and Currencies does MojoPay offer?

Payment Methods offered by MojoPay:

  • VISA
  • MASTERCARD
  • DISCOVER
  • DINERS
  • JCB
  • Debit cards with the VISA or MASTERCARD logo

Information on Retrievals?

Sometimes a bank or issuer will ask the customer to provide a proof of purchase. A notification for this request is what is called a Retrieval. It is the merchant’s responsibility to provide proof of purchase to MojoPay within 5 (five) days of receiving the notification.

Information on Chargebacks?

A chargeback is a refund issued backed to the customer after a claim has been successfully disputed by that customer.

The best way of avoiding chargebacks is by offering guarantees that are fulfilled and by providing sensational customer service. Aside from this, clearly stating all information pertaining to an item at the checkout process will aid in lessening customer confusion.

If a payment is disputed, MojoPay recommends that the merchant provide a signed payment affidavit from the customer as well as a copy of the customer’s identification. In the event of a chargeback on a Card Not Present transaction or a web transaction, MojoPay recommends that the merchant website administrators always keep extensive visitor and IP Address logs as well as confirmation records associated with user name logs.

How does MojoPay protect you from fraudulent orders?

It’s all in the gateway. Our gateway protects merchants and customers from fraudulent transactions. Aside from our gateway, being PCI Compliant and ensuring proper security measures will protect the information of your customers and, in turn, protect merchants from fraudulent orders.

What will I need to get started with MojoPay?

In order to accept credit card payments, you will need two things: A merchant account and a payment gateway. The difference between these two is that merchant accounts require an under-writing process while gateways do not. A merchant account is not a bank account and merchants can choose whom they want to bank with. Sometimes these two are bundled; sometimes they are sold separately. The merchant account allows you to accept credit and debit cards as a form of payment while a gateway is the software that connects to the processing networks. Most gateways have an API for web transactions and a web-based interface for phone, mail and fax orders.

What Types of Credit Cards are Acceptable?

The default accepted payment types are Visa, MasterCard and Discover with most merchant accounts. American Express can be added but requires you to indicate interest on the application. There is no difference in the processing of credit or debit cards.

How is Payment Received?

Payments taken with a Visa, MasterCard or Discover Card will typically be deposited into your bank account with 2 – 3 business days of settlement. American Express generally takes 5 business days.

How are Fees Incurred by Merchant Accounts?

Processing fees can be taken out daily or monthly, depending on your merchant account provider. When a debit or credit card is used, the bank charges a fee for its use. Fees charged by banks are dependent upon the type of card, business and how it is processed. Comparison is difficult due to differently priced fees by merchant account providers. Most providers hide fees as well, so make sure to ask your merchant provider to disclose all of their fees

How does my Industry affect the Risk Factor?

Most merchant account providers have restrictions on credit card processing within specific industries based upon decades of actual credit card processing data due to the risk involved in those industries.

Some of the standouts are thusly: most merchant account providers will automatically prohibit credit card processing for industries such as gaming, adult, liquor, online dating, debt consolidation, credit repair, and bankruptcy attorneys.

How does my Billing Method affect the Risk Factor?

Certain billing methods increase risk and therefore the business will have to demonstrate its ability financially to support this increased risk. The billing methods that increase this risk are annual billing, lifetime memberships, retainers / account credit, and aggregation, none of which are prohibited by merchant account providers except for lifetime memberships.

How does Risks & Underwriting go Together?

Providers are very cautious in regards to underwriting and risk management for two reasons: 1. Merchant account providers are financially liable for all merchant losses and 2. They have very low margins.

Risk is always being assessed on a businesses ability to deliver on the product or service sold and to avoid disputes. Cardholders can dispute a transaction for more than 180 days after their purchase.

How are Chargebacks and Refunds Handled?

There is a 180-day grace period for disputes by cardholders. If a customer disputes a purchase, the funds are automatically debited from the merchant’s bank account. The merchant then has the ability to challenge the chargeback by providing support documents.

Merchant account providers, regardless of the outcome of the dispute, incur Chargeback fees. If the merchant prevails, the funds will be remitted back to their account.

What is a Personal Guarantee?

It means standing behind your product or service. Personal guarantees are an industry standard and due to the fact that merchant account providers assume all liability, they want to make sure owners provide similar incentives to deliver on products and services sold.

What is Compliance with PCI DSS?

Compliance with PCI DSS is an industry-mandated security standard that applies to all businesses that handle, process or store credit cards. There are three main tenets at the core of the PCI DSS, which are derived from 12 core requirements and 250 control standards and they are:

  1. All merchants must achieve and maintain compliance
  2. Merchants may not store the 3 or 4-digit security code nor can merchants track data from the magnetic strip and PIN data.
  3. A merchant must meet certain security requirements if credit card information is being processed and / or being stored. This needs to be completed annually.