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Q.
What is a Discount Rate?
A.
The Discount Rate is a fee associated with collecting, assessing,
approving, processing and settling credit card transactions.
Q.
How does the Wells Fargo SecureSourcesm Payments service
determine my discount rate?
A.
The Wells Fargo SecureSource Payments service determines your
discount rate by checking the information you provide in the Seller
Enrollment Application to project the transaction services your online
sales will require. The
services required to assess, approve, process and settle an online sale
include, but are not limited to:
-
Sales
amount
-
Chargeback
procedures
-
Risk
assessment
-
Fraud
screening
-
Fraud
management
-
Seller
acceptance
-
Support
services
-
Investigation
procedures
Q.
How is a Discount Rate collected?
A.
The fee for a discount rate for each approved credit card transaction is
automatically deducted from the amount deposited into the checking or
savings account you provided in the Seller Enrollment Application.
This is a daily process.
Q.
Can I have the fee for my discount rate deducted from a credit card?
A.
At this time, the Wells Fargo SecureSource Payments service does
not deduct any fees from the credit card of a registered Seller.
Q.
Why do I need to provide a credit card number in my Online Seller
Application?
A.
Your credit card is only used as a part of the Seller authentication
process.
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