Merchants Overview

GeekPay is a merchant agnostic software. Our goal is to enable you to accept periodic payments via any merchant provider. 

What Is A Merchant Provider?

If you aren't familiar with collecting payments online, merchants can be a confusing concept. Fortunately, it's not difficult to explain. If someone handed you a credit card or check to pay for something, how would you get the money to your bank account?

This is exactly what merchant providers accomplish. In GeekPay there are two types of charges that can occur: Credit Card and ACH.

Credit/Debit Card Charges

In the case of credit cards and debit cards, you are typically billed somewhere between 2% and 3% plus a flat fee (typically around $0.10 - $0.35). This fee is how the merchant providers make money. Keep in mind that we take no fees for you to perform a transaction in our system. All fees are from the merchant and you are responsible for finding out how much each merchant charges.

In contrast to ACH charges, settlement of credit card transactions happen instantly and you can frequently receive the money in your bank account within 24 - 48 hours from the time a transaction occurs.

ACH Charges

If someone hands you a check you would typically take it to the bank (or nowadays take a photo of it in your banking application) to deposit it. Checks are one-time charges though. So what if you want to authorize making ongoing charges to someone's bank account? That's exactly what ACH enables.

While authorization of ACH charges is generally more stringent (some merchants require a user's Social Security Number to get authorization), it's frequently the better solution primarily in regards to fees as they are far less.

In contrast to Credit Cards though, ACH Charges have a longer settlement period. Approval can take 24 - 48 hours and typically takes days before they show up in your bank account.

Our Merchant Providers

In order to accept payments through our system, you'll have to select one or more merchant providers to use. We currently work with the following merchants:

• Actum Processing (ACH only) - Actum exclusively support ACH payments. If you are dealing with loans or anything high risk, we suggest getting an account with them. For the land business, this is your most stable way of accepting monthly payments. 

• Authorize.net (ACH / Cards) - Authorize.Net is a technology platform that resells to others. You can apply for merchant services at some local banks (e.g., Chase, Wells Fargo), or companies (e.g., Premium Card Solutions).

  Premium Card Solutions (ask for Brian Seltzer)

  7438 Derry Street

  Harrisburg, PA 17111

  717-920-0417 - Local

  888-780-9595 - Toll Free

  717-920-0419 - Fax

  
  
• Stripe (Cards only) - You must ensure that you are within Stripe's terms if you integrate with them.  We currently only support Stripe for credit card payments. Only use them for down payments and cash payments if in the Land Business.  

Feel free to contact support should you need assistance.