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QUESTIONS & ANSWERS

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Check out our Frequently Asked Questions to find quick solutions and helpful information.

At Thoro Payments, we deliver a wide range of electronic payment solutions tailored to meet the diverse needs of your business. Whether you operate in e-commerce, hospitality, restaurants, retail, direct response, or petroleum, we provide the tools you need to accept any payment type seamlessly. Our global processing network and extensive range of services are unmatched in the industry.

Customer-Centric Approach

Our top priority is dependable customer service. We actively develop products and services based on your feedback to help you enter new markets, enhance customer service, and offer more payment options. From our robust internet payment gateway to flexible POS terminal solutions, we’re committed to helping you grow your business. When it comes to choosing a payments partner, Thoro Payments is your trusted ally.

Our Comprehensive Solutions Include:

  • Turn-key Internet Payment Access: Easy-to-use virtual terminal tools.
  • Stored Value Card Programs: Full-service options for gift cards and electronic gift certificates.
  • Fraud Detection Services: Comprehensive protection against fraudulent activities.
  • Web-based Reporting: Efficient data management at your fingertips.
  • Recurring Payment Programs: Streamlined solutions for subscription-based services.
  • Diverse Payment Processing: Support for various payment types, including international currencies and electronic checks.
  • Chargeback Management: Expert handling to minimize losses.
  • Customer Service & Account Management: Dedicated support to meet your needs.
  • 24-Hour Technical Support: Assistance with terminal deployment, training, and repairs.

At Thoro Payments, we believe that exceptional service enhances your ability to serve your customers better. This philosophy informs our product development and customer relationships. Leveraging state-of-the-art technology, our electronic payment solutions and credit card processing can drive your business growth.

We’re here to work closely with you, ensuring we streamline your operations and help maximize your customer base. With a dedicated customer service team focused on your success, Thoro Payments is the reliable partner you can count on for achieving your business objectives with your merchant account.

ThoroPayments ECP (Electronic Check Processing) enables merchants to process transactions directly through ACH (Automated Clearing House) or facsimile drafts, allowing for seamless debits or credits to customers’ checking or savings accounts. This solution is ideal for recurring payments, such as monthly membership fees, and is available across the United States and Canada.

With ThoroPayments ECP, you can streamline your payment processing and enhance customer convenience. Let us help you manage your transactions efficiently!

ThoroPayments EBT (Electronic Benefit Transfer) automates the distribution of cash or cash-like benefits through secure electronic authorization, data capture, and settlement processes. Using plastic magnetic-striped cards at point-of-sale terminals, we eliminate the need for paper coupons, enhancing the efficiency of benefit distribution.

This electronic method not only simplifies transactions but also increases security, significantly reducing the risk of fraud and misuse of benefits. Since the U.S. government mandated that all federal financial support services be distributed via direct electronic deposit by 2002, ThoroPayments is your trusted partner for compliant and efficient EBT solutions.

Magnetic Stripe Cards (EGC-Gift Cards)
  • Definition: These are electronic stored value cards provided by merchants in exchange for pre-payment.
  • Features:
    • Includes a magnetic stripe for data storage.
    • Displays the merchant’s name or logo and an account number.
Transaction Processing/Online Administration
  • Real-Time Processing: Merchants can process transactions directly at the point of sale.
  • Authorization System: Transactions are sent to the processor’s system for real-time authorization, maintaining account balances for all cards.
Merchant Reporting
  • Detailed Reports: Merchants receive periodic reports detailing:
    • Transactions processed within a specific timeframe.
    • Outstanding balances on customer accounts.

This streamlined process enables merchants to efficiently manage gift card transactions and monitor customer activity

Please wait until your account is fully set up with Thoropayments before processing transactions through our processor. Once you’re ready to start, make sure to notify your previous provider to prevent any unnecessary fees.

Thoropayments provides a variety of online and offline tools to help you access information about your merchant account. With these tools, you can view, download, and import essential account details, including transaction activity, deposits, funding, chargebacks, retrievals, and statement information.

Through the Automated Clearing House (ACH), Thoropayments will deposit funds from your MasterCard, Visa, Diners Card/Carte Blanche, and JCB transactions directly into your business bank account. This also applies to American Express and Discover transactions, provided they are associated with newly issued SE numbers linked to your processing account. If you establish a service agreement directly with American Express and/or Discover, those issuers will obtain your banking information and remit funds to your account.

''Empowering Your Business with Seamless Payment Solutions! Discover hassle-free transactions with Thoropayments."

Any Questions? Ask Us!!

A private label card from Thoropayments is a credit card issued in the name of a specific merchant organization. Merchants use these cards as incentives to encourage customers to spend at their businesses. Cardholders enjoy various benefits, such as special discounts, deferred payment options, and loyalty points, by using the private label card instead of traditional credit cards like Visa, MasterCard, Discover, or American Express. Each private label card prominently features the merchant’s branding, reinforcing their unique identity.

Interchange fees are transaction-related costs that Thoropayments’ processors pay to the card issuer as compensation. These fees are set by networks like MasterCard, Visa, and Discover, and they vary based on the transaction method and industry type.

In the payment card industry, the interchange fee refers to the charge that a merchant’s bank (the acquiring bank) pays to a customer’s bank (the issuing bank) when merchants accept cards through networks like Visa and MasterCard. During a credit card transaction, the card-issuing bank deducts the interchange fee from the amount it transfers to the acquiring bank, which processes the transaction for the merchant. The acquiring bank then disburses to the merchant the transaction amount minus both the interchange fee and a smaller fee known as the discount rate, add-on rate, or pass-through fee.

At Thoropayments, debit cards offer a convenient alternative payment method for transactions. When customers use an ATM debit card to purchase goods or services, the funds are directly withdrawn from their checking account. In addition to standard ATM cards, many banks also provide Visa Check Cards and MasterCard’s Master Money Card, both of which can be utilized for online and offline purchases. This flexibility enhances the shopping experience for customers, making it easier to manage their finances while enjoying seamless transactions.

At Thoropayments, the key difference between debit card options lies in the use of a PIN (personal identification number) at the point of sale. When a PIN is entered, the transaction is considered “online,” and funds are immediately withdrawn from the cardholder’s available balance. In contrast, offline debit transactions delay the withdrawal of funds until the transaction is processed, which typically takes 2 to 4 days after the sale.

Debit card transactions are the fastest-growing point-of-sale payment method today. This payment option remains popular among both customers and merchants due to its convenience and ease of use for purchasing goods and services.

Thoropayments offers commercial cards—corporate, business, and purchasing cards—as an alternative financing solution for businesses to manage expenses such as supplies and travel. These cards often replace traditional purchase orders and provide significant reporting benefits.

By utilizing a commercial card, cardholders receive itemized records of their purchases, simplifying reimbursement processes and enhancing expense tracking. This specialized reporting is made possible by capturing detailed data at the point of sale. MasterCard, Visa, and Discover each enable issuers to provide a range of commercial card products. It’s important to note that merchants typically incur higher rates for processing commercial card transactions.

Thoropayments offers check verification services that help merchants reduce the risk of bad check losses by verifying the authenticity of each check and its presenter. Checks are validated through a national database that compiles bad check information from various retailers. While using check verification is not mandatory, it significantly minimizes potential business losses.

It’s important to note that check verification does not guarantee the availability of funds; it only confirms that the checking account is valid. To start accepting checks, you’ll need to set up an account with TeleCheck Services, which offers a variety of packages featuring different check service options. Once your account is established, TeleCheck will provide a terminal ID number (TID) to be uploaded into your terminal, enabling your merchant account to process checks.

Depending on your terminal type, you may need to purchase a check reader to complement your setup, or you can choose an all-inclusive terminal that processes both credit card transactions and checks. The only reliable way to confirm fund availability is when a cardholder uses a debit card for their purchase.

At Thoropayments, we offer a range of training programs to support our customers. Our services include initial telephone training as well as ongoing education for our merchants. You will receive comprehensive training guides and user manuals to help you familiarize yourself with our products and services.

In addition to the initial training, we provide a contact reference sheet for your convenience throughout our partnership. We also keep you informed about industry-related rules and regulatory changes to ensure you stay up to date.

Yes, merchants with a legal presence in the U.S. or Canada (direct response only) are eligible for our merchant services. We specialize in high-risk accounts and also provide offshore merchant services to meet diverse business needs.

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