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What does 'Is there a traditional ATM located on your business premises?' mean?
This question asks whether there is a traditional automated teller machine (ATM) physically present at your business location. Please provide relevant information about this machine such as who owns, services the machine, etc.
Why do I need to indicate if I've accepted payments through cards before?
This question helps us understand your prior experience with card payments, and any KYB checks you may have already been through. This can be valuable information for us to help you set up payments effectively.
What should I report if there have been prior terminations by my processor?
Please add reasons to indicate why your payment options were terminated. This can be valuable information for us to help you set up payments effectively.
What is meant by 'actual or expected monthly sales volume'?
This refers to the total sales revenue, in dollars, that your business either currently generates or expects to generate in a typical month.
What should I enter as 'actual or expected average order value'?
This is the average dollar amount of each customer's purchase or order, either based on your current sales data or your anticipated average.
How do I determine the 'actual or expected number of customers serviced every month'?
Count the total number of unique customers you serve in a typical month. If you are estimating, provide your best guess.
What should I enter for 'actual or expected number of individual sales (tickets) every month'?
This is the total number of individual sales transactions or tickets processed in a typical month. It represents the frequency of sales.
Why is this sales information important for the application process? Can I update my sales information later if it changes?
Providing accurate sales information helps payment processors and financial institutions assess your business's financial stability and processing needs. It ensures that you receive appropriate services.
Typically, you can update your sales information if it changes. However, it's essential to notify your payment processor or financial institution promptly to maintain accurate records.
What if I'm a new business and don't have historical sales data?
If you're a new business, provide your best estimates based on your business plan or market research. Accuracy is crucial, so update this information as your business grows.