Frequently Asked Questions
HiTech Merchant Services was founded in 2003 to provide business owners, and senior finance and operational executives, with relevant and useful information about new technologies in the merchant services field. Our goal has always been to establish a strong relationship of trust with our clients, and to become a hub of advice related to technology implementation and cost analysis. The common thread of success over the years has been the level of knowledge and customer service that the HiTech team brings to each and every client.
We provide a multitude of services to companies and organizations who accept credit or debit cards as a form of payment. These services include rental equipment, POS integration, web and shopping cart integration, and cash flow management with regards to credit and debit deposits.
The defining difference between Hitech and all other competitors in the space is the level of knowledge and understanding of the details of credit card processing in North America. From a deep understanding of interchange, pricing models, and the impact of cash on day-to-day business operations, we help businesses and organizations implement best systems at reasonable rates to achieve their goals.
Choosing HiTech means that you are choosing a team who have the experience of working with hundreds of corporations across North America to develop and apply solutions for a variety of industries. We bring that experience and knowledge to every client in order to provide them with the best solution for their needs.
Changing from your current processor requires opening an account with the new processor. More often than not, new accounts can be opened the same day and you can begin processing within 48 hours. Our dedicated customer service team provides full support - from the completion of the application to deployment of equipment and training, all at no cost to you. And when issues do arise, our experience and deep relationship with the processors will help guide your company quickly and efficiently to a successful conclusion.
Usually we can have a new account open within 48 hours.
All it takes is 10 minutes to complete an application. A copy of a void cheque for your deposit account is required, and you will need to scan and send us the front of your driver's license.
Once your account is open, terminals will be shipped the same day, and you can begin processing as soon as they arrive to your location. If you're choosing an online solution, we can usually have you up and processing within a couple of hours of your approval.
We deposit money every day, which means that if we settle your account by 10 p.m. Eastern Standard Time, the money is usually in your account before you wake up in the morning.
No. If you have a seasonal business, we have a great option for you, where we can rent you your equipment only for the period of time that you need it, and then take the equipment back at no charge to you. When your season begins again, we will ship the terminal back to you, at no charge, so that it's ready for you to use when you need it. There is no need to pay for equipment rental fees or account maintenance fees if you don't need it.
If you have a retail operation, we have many types of terminals to meet all of your needs. Wired, Bluetooth, and wireless terminals are all available. If you are on the go then you can choose an iCMP to integrate with your smartphone or iPad. If you are an online operation, we can provide you with an online payment gateway where you can input stand alone payments, or complete an integration to completely automate the payment process. If you are running an eCommerce website, we can provide you full integration from hundreds of shopping carts across North America that integrate with our processor, as well as manage all of that integration for you.
We have a robust customer service team that provides complete installation and training for all new equipment at no charge to you.
If you have existing equipment it is possible that it can be reprogrammed and you can keep it, saving you the time and hassle of having to return it and learn new equipment. Let us know during our conversation that you have a terminal and we will let you know if you can continue to use it with your new processor.
As a merchant who accepts credit and debit cards as a form of payment, you have a choice as to which cards you can accept. So if you only want to accept debit and not credit cards, no problem, just let us know. If you wish to accept credit cards like Visa and Mastercard but not American Express, that's also okay, as we are here to service your needs and will provide you with all of the information needed to make an informed decision for what's best for your company or organization.
People who accept credit and debit cards as a form of payment often don't understand exactly what they're paying. That's why companies like HiTech are here to explain it to you. The amount you pay for credit card processing is made up of multiple components including interchange rates, a processing fee, equipment rentals and a host of other fees created by processors to make understanding your statements more difficult. Here, we use an interchange plus model. That means that we fully disclose the non-competitive cost of that particular card as set by the banks and the credit card companies on a bi-annual basis. In addition, we add on a processing fee which is clearly outlined on your statements.
We do not charge a setup fee for any of our accounts. The application process, implementation, and training are all a part of the services that we provide to you.
Your account is charged once a month usually on the second or third day, for all fees associated with processing in the previous month. You will receive a monthly statement outlining exactly what all of the fees were so that you can reconcile your bank accounts to the penny. If you have any questions, and you can't reconcile your statements, we are here to help you at any time, free of charge.
One of the most important things to understand is a term called interchange. Canadian banks, along with card brands like Visa and Mastercard meet on a regular basis to set the rates for each card type. These rates are referred to as interchange rates and are fixed and non-competitive amongst processors. There are hundreds of interchange rates in Canada for both Visa and Mastercard, and understanding how these rates affect you is important in choosing a processing partner and managing your costs.
We do not charge any cancellation fee. We have no contracts. We truly believe in economic freedom. You may leave at any time if you are not happy with our service or pricing. Since you are not locked in, you can be assured that we are providing you with the best service at a competitive rate.
Depending on the type of transaction that occurs you may be fully protected against criminal fraudulent transactions. The best way to protect yourself in the card present environment is to make sure that every transaction is chip and PIN verified by the terminal. Our receipts will clearly state PIN-verified if that has occurred during the sale. Another great way is to take advantage of one of our anti-fraud solutions, Eye4Fraud, which screens, verifies and guarantees your online orders before you ship.
PCI compliance, or Payment Card Industry Compliance is a set of protocols developed by the credit card brands to help reduce fraud by criminals wanting to steal credit card data from you. Protecting card data is very important to keeping the integrity of the system working well. Following some basic PCI compliance rules can help mitigate loss when somebody breaks into your terminals or your company's computer systems.
Most major processors across North America who take credit card data security seriously have implemented PCI compliance rules for their merchants. There is a small fee that is charged either monthly or quarterly, and sometimes annually depending on the processor to make sure that you are compliant. If a processor is not charging and offering PCI compliance protocols be wary of doing business with them. For more information, check out our blog - PCI Compliance - What Is It and Why Should You Care.
EMV which stands for Europay, Mastercard, Visa is a global standard for credit cards that uses computer chips to authenticate and secure chip card transactions. In layman's terms that little chip on the side of your credit card is a tiny little microprocessor that creates a unique transaction code that can only be used once and then is destroyed. EMV chips are also referred to as chip and PIN, and have been extremely effective in reducing credit card fraud. As a merchant, you should insist on chip and PIN transactions to provide the highest level of security and fraud protection for you and your business.
In addition, educate yourself about all of the verification tools associated with credit cards by checking out our blog - What are AVS, CVV, CCV and CVV2, and What Do All of the Abbreviations Mean?.
If you can't find the help you need on our website, please feel free to reach out to Elavon directly or our offices which are open Monday to Friday. Our customer service staff are here and are ready to help you at firstname.lastname@example.org.