Frequently asked questions

Once your application is complete, the processing time is usually 24 hours or less. If approved, we will ship your terminal equipment or software promptly.

For the vast majority of our clients, Axe Payment is able to provide Next Day Funding

You do not necessarily need to have a business license if you can provide a different acceptable documentation item. These items vary depending upon the level of risk associated with your business.

You only need a business checking account if your business is set up as a corporation. If it is a sole proprietorship, you may use a personal checking account or a business checking account.

The discount rate is the fee that a merchant pays to the acquirer for processing services that enables the merchant to accept bankcards as payment. Discount rates are not charged to Axe merchants participating in our Cash Discount program.

A fee paid by an acquirer to an issuer for transactions entered into interchange. The interchange fee is a percentage applied, according to Visa/MasterCard regulations, to the dollar value of each transaction. There are multiple categories of interchange, and Visa and MasterCard each have their own criteria for their own categories. A transaction must meet the specified criteria for a category in order for that category’s rate to be applied. Each transaction is evaluated individually, so various interchange rates may apply within one batch of merchant transactions.

Yes. Anyone who accepts credit card payments needs to comply with PCI-DSS rules.

When you have a merchant account with us, we provide free PCI compliance validation. Please call 877-4AXEPAY for assistance. Axe Payments is PCI compliant and satisfies this requirement on behalf of our merchants.

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