How to become a credit card merchant ? Visa/master card

**wrcastro_ph** · July 15th, 2008 03:08 PM

I've been surfing the net to get any information on how to become a credit card merchant but I was so unfortunate to get any information.

I'm helping a friend who has a business and he wants to accept credit card payment but we have no idea on who and where to go. how to apply, what are the requirements.

please help. Your inputs will be highly appreciated.

**russpogi** · July 15th, 2008 03:21 PM

+1 on this. I'm also looking for "how-to's", also for a friend.

**wrcastro_ph** · July 15th, 2008 03:26 PM

Originally Posted by russpogi

+1 on this. I'm also looking for "how-to's", also for a friend.

sana nga sir me makatulong na forumer.

**1D4LV** · July 15th, 2008 03:44 PM

Originally Posted by wrcastro_ph

I've been surfing the net to get any information on how to become a credit card merchant but I was so unfortunate to get any information.

I'm helping a friend who has a business and he wants to accept credit card payment but we have no idea on who and where to go. how to apply, what are the requirements.

please help. Your inputs will be highly appreciated.

banks have their merchants department who can help you with that. i would suggest that you approach Citibank who can provide you with the terminal for visa and mc.

to site an example on my former company, since i was the one in charge of implementing a credit card payment, i approach bankard. they provided me with the terminal which can accept Visa and MCs.

i think the requirements are the usual SEC/Business Permits/TIN/Historical Financial Statements.

**cutedoc** · July 16th, 2008 03:31 PM

i got my terminal through epcib now bdo, i just called the bank, applied for a merchant and they send in some papers that i need to sign and a month later then delivered and installed the machine.

yup its handy indeed, however the bank will deduct a certain percentage from the total purchase of your client.

the bank will need your TIN, business permit, sec if applicable, i think it is also a must to open an account with them.

**wrcastro_ph** · July 18th, 2008 06:44 AM

Originally Posted by cutedoc

i got my terminal through epcib now bdo, i just called the bank, applied for a merchant and they send in some papers that i need to sign and a month later then delivered and installed the machine.

yup its handy indeed, however the bank will deduct a certain percentage from the total purchase of your client.

the bank will need your TIN, business permit, sec if applicable, i think it is also a must to open an account with them.

Thanks Cutedoc and ID4. I just talked to the manager of BDO yesterday and he said that they can help with this. You are correct, the bank will deduct a certain percentage in all of our sales using credit card. Nasa BDO din naman ang company account kaya wala na sigurong problem ito.

I will just update all the details once ma finalize na namin.

**CVT** · July 18th, 2008 07:42 AM

Hi guys,- I am just curious here. How much typically would a bank deduct from a purchase?

My wild guess is 5% since some merchants then were adding this % during cash (only) sale, if you're using your credit card..... Is this correct? ....

6404:pump:

**v6dreamer** · July 18th, 2008 07:52 AM

Go to American Express Worldwide or check this bank.....

Important:
Effective from 1st December 2007,Banco de Oro is the licensed card issuer and merchant acquirer for American Express Cards in the Philippines. Changes to the website are currently being undertaken to reflect this.

**1D4LV** · July 18th, 2008 09:24 AM

Originally Posted by CVT

Hi guys,- I am just curious here. How much typically would a bank deduct from a purchase?

My wild guess is 5% since some merchants then were adding this % during cash (only) sale, if you're using your credit card..... Is this correct? ....

6404:pump:

bro it depends on the bank. on the average its at the 3-8% per transaction.