FAQS

We live by one motto- simplicity. If you have questions we probably have answers for you already on this page. Unlike other credit card processing companies, we work hard to be transparent and forthcoming in our operations. That’s what sets our flat rate merchant services ahead of the pack. Read on to see if your question is answered here. If not, please CONTACT US now to get the answers you need to secure the industries’ best business credit card processing service.

How long is the flat rate good for?

Your custom flat rate is intended to be good for the life of your account with us. However, while it’s always our goal to keep pricing increases at an absolute minimum, from time-to-time Visa, MasterCard, Discover and American Express make modifications to interchange rates which are significant enough to warrant passing them on to you in the form of a very modest increase. In the history of Singular Payments, we’ve only had to do one increase. If an increase needs to occur, you’ll be notified in writing beforehand.

How do you come up with my flat rate?

Flat rates are determined by the manner and method that you accept cards for payment within your business. For example, if you do business in an affluent area where Rewards Cards, Signature Preferred, World Elite and other such cards are more prevalent, your flat rate will have a tendency to be higher. Conversely, if you live in a rural area where debit cards are more common, your rate should be substantially lower. Your Account Consultant will explain in detail how we arrived at your flat rate and what factors influenced the calculation. We are extremely transparent with our credit card processing fees and flat rate structure.

Do I have to buy new equipment?

Most existing credit card processing equipment that is existent within the marketplace today can be reprogrammed to work on the Singular Payments processing platform unless it’s not EMV capable then you’ll need a new EMV terminal. Unfortunately, terminals don’t grow on trees but we can provide you one to use free of charge for the duration of your processing relationship with Singular Payments if you meet our minimum monthly processing volume requirements. Ask your Account Consultant for more details on equipment pricing plans and options.

Where can I find information on card terminal types?

Terminal Quick Reference Guides

Why do I need an EMV compliant terminal?

Merchants that accept debit/credit cards in the United States are now required by law to use an EMV compliant terminal which is a type of processing terminal that accepts the new chipped credit and debit cards. As of October 1, 2015 the switch to EMV terminals has taken place and all credit/debit card providers have sent out, or are in the process of sending out, the new cards to all their customers. The new EMV chip technology improves the security of customers’ credit/debit card data exponentially because with each transaction a unique encrypted code is generated that authenticates the transaction.

What is the EMV liability shift?

Merchants who are not up-to-date and using the new EMV credit card terminals are now liable for any occurrences of fraud one of their customer’s experiences as a result of their card information being compromised while doing business with you. This fraud liability used to fall squarely on the big credit card companies. But now that the new chipped technology secures customers’ personal data better than ever before, and EMV terminals are required to avoid instances of fraud, the liability has shifted to you the business owner. Do you have questions about EMV terminals and the liability shift? Contact Us now to learn more.

Do I have to sign a contract?

A contract is required according to Visa & MasterCard guidelines. A deconversion fee will be assessed to accounts that cancel prior to the end of their 3-year term of service with Singular Payments. To avoid a one-time charge, the merchant must provide 30-day notice prior to the expiration date of their service term via our online exit survey. *Please note this fee can be waived if the merchant sells the business and the new owner is approved for service with Singular Payments. After the survey is submitted an Account Consultant will contact the merchant to finalize cancellation details.

What is PCI DSS compliance?

Merchants in the payment processing industry are required by law to comply with certain data security standards which are referred to as PCI DSS compliance. Merchants have 30-days after enrolling with Singular Payments to update their PCI compliance and you’ll receive a packet in the mail explaining how to register with TrustWave, our recognized provider for the service. You can also register online or call 877.257.0239. We help our merchant customers stay compliant by explaining the importance of PCI DSS and offering you a trusted resource that will help you. The cost of the service is $99 annually and will be billed on your merchant statement. We’re committed to providing the best and least expensive solution for PCI DSS compliance so you never have to worry about spending unnecessary money. Failure to become PCI DSS compliant results in a $19.95 monthly fee until you update your compliance status. Your PCI compliance must be updated every year to avoid the non-compliance fee in the future.

Why do you need my previous payment processing statements?

Merchant statements are requested in an effort to glean helpful information that will allow us to learn as much as we possibly can about the manner and method(s) in which you currently accept credit/debit cards. While not necessary to obtain a Flat Rate Quote, providing them allows you to achieve the lowest possible flat rate structure available for your business.

Who backs your payment processing service?

CardConnect makes payments simple, secure and reliable which is why Singular Payments uses their state-of-the-art security infrastructure as the ‘back end’ of our processing service. In the processing arena their clean industry reputation goes hand-in-hand with ours. Security is imperative when collecting payments. Customers need to rely on the fact their information is safe with ‘you’ the merchant. With CardConnect’s CardSecure platform, merchants operate at the safest level of security available today using the latest in EMV technology and Point-to-Point Encryption. CardSecure protects every transaction at the point of interaction. Learn more about our payment processing security and merchant portal now.

Who runs and/or manages your promotional offers?

All promotional offers involving gift card giveaways, special pricing, free equipment or money back are sponsored, managed and paid for by Singular Payments, LLC. This includes but is not limited to promotions hosted on our main website www.singularpayments.com as well as promotions hosted across various landing pages at the domain www.go.singularpayments.com/(specific name) which vary by target audience, promotion timing, association, merchant vertical, trade show or event, Etc. See each individual offer page for specific promotional details and how to qualify. Please contact our Director of Marketing Danielle Lafontaine at danielle@singularpayments.com or call 877-829-2170 and select option 3 for specific promotion-related questions or concerns.