FAQs

Q?How can I get started with Transparent Pay?

A.

Simply send an email request to sales@transparentpay.com and we will be happy to have a discussion with you about the details of our program.

Q?How does Transparent Pay not charge fees for IRS or PCI DSS?

A.

We absorb the costs for these services as “a cost of doing business” on the ISO side.  Most costs are minimal but we do not believe in charging these fees to the merchant or the sales person with or without mark-ups: we will not charge them ever!

Q?What is the $50,000 PCI DSS insurance?

A.

This insurance is underwritten by licensed and bonded insurance company.  The policy insures each merchant account by MID for up to $50K with a cumulative maximum of $250K per legal entity.  This protection covers the merchant in several ways:  First, the program covers expenses resulting from actual or suspected data breaches (regardless of the merchants’ actual PCI compliance status or participation on the PCI DSS Portal) provided the business owner is not an active participant or involved in the breach directly.   Secondly the coverage includes expenses related to the forensic investigation (or audit) ordered by the card brands when a data breach is suspected; Thirdly, the policy covers the cost to the merchant for any “plastic” physical card replacement and related expenses if any; and Lastly (but most importantly) is covers assessments and fines levied by card sponsors for data breaches.  The party that covers these fines and penalties is insured whether it is the bank, processor, ISO, sales person, or the merchant.

Q?What tool is used to help verify TIN matches with the IRS?

A.

We utilize all the steps currently being implemented by the major processors including written notification with at least two mailers per year to merchants which mis-match.  We implement a third party verification service which updates our records and brings us updates to keep the processors records accurate and up to date.  Lastly, when all else fails, we will use the telephone to contact merchants to help them work through this vitally important issue.