Welcome to MSI Canada’s Frequently Asked Questions (FAQ) Page.
If you don’t see the answer you’re looking for, just give us a call or drop us an email and we will be happy to help.
Credit Card Processing – The Basics
- What is the first thing I need to do to start accepting credit cards?
- How do I apply for a merchant account?
- Which credit cards will I be able to accept?
- Can I also accept debit cards?
- How long will it take before I can start accepting credit and debit cards?
- When will I receive funds from the transactions which I process?
- How are credit cards charged?
- What is the difference between a void and a refund?
- What types of processing solutions does MSI Canada offer?
- How do I process other payment methods, such as checks?
- What is MOTO processing?
- What is a virtual terminal?
- What is PCI compliancy?
- How I program my equipment?
- Why do different accounts have different rates?
Already Accept Credit Cards?
- Why switch to MSI Canada?
- Is my existing POS compatible with MSI Canada?
- What other services does MSI Canada offer merchants?
- How do you determine my monthly minimum?
- What if I already have processing equipment, but want to switch to MSI Canada’ services?
- What is SafePay?
- Do you offer merchant accounts to businesses located outside of the United States?
- Are there any businesses that you do not allow to apply?
- What kind of support does MSI Canada offer in case something goes wrong?
Current MSI Canada Customers
- How do I change my address and/or telephone number?
- How do I change the business checking account information that is linked to my MSI Canada merchant account?
- How do I change my business name and/or the description of my business appearing on my customers’ billing statements?
- How do I increase my processing limits?
- How do I change the ownership information if I’ve recently acquired or sold the business?
- How do I know what has been deposited into and/or deducted from my checking account?
New Merchant FAQs
What is the first thing I need to do to start accepting credit cards?
You will need a merchant account set up for your business. This will give you the ability to accept credit and debit cards in person, online, or over the phone.
How do I apply for a merchant account?
If you would like to sign up for a merchant account, you can call us at 866-912-8770, sign up online, or email us.
What credit cards will I be able to accept?
MSI Canada offers processing services for all major credit cards including Visa, MasterCard, Discover, American Express, Diner’s Club, and JCB.
Can I also accept debit cards?
Yes. MSI Canada leads the industry in debit card processing with access to both national and regional networks.
How long will it take before I can start accepting credit and debit cards?
With MSI Canada, we can get you up and running within the same day in many cases.
When will I receive funds from the transactions which I process?
Funds from your processed transactions should be deposited into your checking account within 2-3 business days.
How are credit cards charged?
Upon swiping a credit card in a POS terminal or entering the required customer information into a virtual terminal, the information is sent from the merchant to MSI Canada. MSI Canada then requests the money from the issuing bank, which is deposited directly into your bank account.
What is the difference between a void and a refund?
A void must be performed prior to the authorization of a transaction. After a transaction is authorized, the transaction cannot be voided by the merchant. A refund must be applied to the customer’s account.
What types of processing solutions does MSI Canada offer?
MSI Canada offers a wide range of processing solutions for merchants so you can choose which is right for you. From retail stores to ecommerce and mail order to mobile transactions, MSI Canada has the right solution for your business.
What is MOTO processing?
MOTO (mail order/telephone order) processing is also known as “card not present” MOTO transactions allow customers to make purchases by providing their credit card information without providing a signature over the telephone, Internet, or via mail.
What is a virtual terminal?
A virtual terminal is a processing terminal which merchants may use to process transactions online. Virtual terminals can be accessed from any computer with an Internet connection.
What is PCI compliant?
Payment Card Industry (PCI) compliancy is required for all equipment for most transactions. MSI Canada offers a full line of secure PCI compliant POS equipment certified by Visa/MasterCard and American Express.
How do I program my equipment?
MSI Canada makes getting up and running quick and easy with our free training and set-up for new merchant accounts.
Why do different accounts have different rates?
Different accounts have different rates depending on your business’s specific needs and risk factor. For example, some accounts may strictly be store front retail while some businesses accept credit cards over the phone (or “card not present”) which presents a slightly higher risk leading to slightly increased rates.
Already Accept Credit Cards?
Why switch to MSI Canada?
MSI Canada offers the lowest rates available, guaranteed! We assure processing for all major credit and debit cards, allowing you to accept all your customers.
Is my existing POS compatible with MSI Canada?
MSI Canada’s processing solutions are compatible with most POS systems. To ensure your POS system is compatible, Click Here to access our database.
What other services does MSI Canada offer merchants?
Besides credit card processing, MSI Canada also does check processing. We offer cash advances for merchants, as well as gift cards and customer loyalty programs.
How do you determine my monthly minimum?
Every business’s monthly minimum is based on the amount of transactions processed throughout the month.
What if I already have processing equipment, but want to switch to MSI Canada’s services?
No problem. MSI Canada supports all major terminals and processing equipment and would be happy to discuss the MSI Canada advantage with you in detail. Want to see if you equipment is compatible? Click Here
What is SafePay?
SafePay is MSI Canada’ proprietary ecommerce gateway that allows merchants to submit transactions online quickly and securely. Using SafePay, you can process sales, authorizations, refunds, and capture existing or voice authorized transactions. The SafePay gateway can be accessed from any computer Internet access at any time, providing a quick and convenient way for merchants to process transactions.
Do you offer merchant accounts to businesses located outside of the United States?
Yes, operating under the name MSI Canada, MSI Canada is the leading provider of merchant services in Canada.
Are there any businesses that you do not allow to apply?
Yes. To hold ourselves to the highest level of integrity, MSI Canada does not provide services for certain types of businesses. Click Here to view full list
What kind of support does MSI Canada offer in case something goes wrong?
At MSI Canada, our world-class customer service and technical support is available 24/7/365 days a year. With MSI Canada, you will always get a support expert on the phone quickly who is located in either our New York or Canadian offices.
Current MSI Canada Customers
How do I change my address and/or telephone number?
A simple request in writing can be faxed to the attention of our Customer Service Department at (631) 390-1247. Upon receipt, the change will be completed within two (2) business days.
How do I change the business checking account information that is linked to my MSI Canada merchant account?
It is extremely important to notify MSI Canada immediately upon any change to the checking account that is linked to your MSI Canada merchant account. Failure to notify MSI Canada may result in the delayed deposit of funds to your checking account or funding to the wrong checking account. A void check for the new account must be faxed to our Customer Service Department at (866) 545-1436. In the event of a starter check, a bank letter is also required. The change will be completed within two (2) business days. The original checking account should be left open with funds available during the transition to the new checking account.
How do I change my business name and/or the description of my business appearing on my customers' billing statements?
If there is a change in the business name and/or DBA, the Articles of Incorporation must be provided to MSI Canada. To make this change to your merchant account, please fax a written request to our Customer Service Department at (631) 390-1247.
How do I increase my processing limits?
This request must be submitted in writing with the new ticket amount and average monthly volume amount. To make this change to your merchant account, please fax the written request to our Customer Service Department at (866) 545-1436. Please include your DBA name and merchant number in your request.
How do I change the ownership information if I've recently acquired or sold the business?
The new owner must complete a new Merchant Application and Agreement. Contact your Sales Representative for assistance, or you may contact MSI Canada directly at (800) 217-8711
How do I know what has been deposited into and/or deducted from my checking account by MSI Canada?
This information is available in several formats. A monthly processing statement is mailed the first week of each month for the preceding month's activity. Checking your bank statement is also an option. Deposits and withdrawals will be listed on your bank statement as "Bankcard Processing". A third option is to call our Customer Service Department at (800) 217-8711.
How frequently are funds deposited into my business checking account?
Activity on your merchant account is processed on a daily basis and is reported according to the processing date. The transfer of funds to or from your checking account takes place through the Automated Clearing House (ACH). Depending on your merchant account type, the transfer may vary from 2 to 5 business days. Weekends and Federal holidays are not considered as business days.
Prohibited Business Types*
- Adult Material, Pornography
- Airlines, Air Carriers
- Bankruptcy Attorneys
- Business Opportunity
- Buying/Shopping Club
- Cash for Gold Non Face to Face
- Charters, Tours
- Check Cashing Services
- Collection Agencies
- Computer Bulletin Boards
- Credit Repair/Credit Insurance
- Companion Services
- Cruise Lines
- Custom Clothing Non Face to Face
- Direct Inbound Teleservices (5967)
- Direct Marketing Travel (5962)
- Direct Outbound Telemarketing (5966)
- Downloading of Software Sales
- Escort Services
- Firearms – Non Face to Face Transactions
- Furniture Sales Non Face to Face
- Gaming/Betting Activities (7955)
- Gentlemen Clubs
- Golf Clubs (MO/TO) – Gimmicky Products
- Hair Restoration Services
- Horoscope & Fortune Tellers
- Infomercials
- Investment Opportunities
- Loan Modification/Reduction Services
- Massage Parlors, Non-Licensed
- Mattress Sales Non Face to Face
- Mortgage Modification/Reduction Services
- Mortgage Services (Security Sales)
- Multi-Level Marketing
- Non Face to Face Transactions with Products only being provided through Drop Shipping
- On-line Malls/Aggregators, On-line Auctions
- Pay Per Click Web Merchants “Parked Websites”
- Pet Sales Non Face to Face
- Pharmacies – Non Face to Face
- Products with Unreasonable Guarantees
- Real Estate/Property Sales
- Self Help Books
- Sports Forecasting
- Ticket Broker
- Time Share Sales/Rentals
- Tobacco, Alcohol, Firearms, or any Age Sensitive Products that are non face to face transactions
- Travel Agencies, Travel Clubs
- Vitamin Business/Neutraceuticals Non Face to Face
- Water Purifiers
- Weight Loss Centers
- Wholesale Clubs
- Wire Transfer Company
*MSI Canada reserves the right to modify and/or change the prohibited business list without notice and at its sole discretion.
