General Questions
What payment methods do you support?
We offer ACH, debit and credit card processing accounts for merchants of all types.
Our payment methods include retail, mobile, recurring billing, invoicing, and ecommerce.
What types of business and industries do you work with?
We provide merchant services for a wide variety of industries, including both traditional businesses, as well as non-traditional and hard-to-place businesses.
Please click here to view the list of industries that we support.
What is the process to apply for a merchant account?
The process to apply for a merchant account includes four simple steps:
- Complete the online application.
- Upload the required underwriting documents (business owner ID, and business bank and processing statements).
- Receive your quote, and discuss your unique needs with one of our Texas-based account representatives.
- Complete the electronic agreement.
Application & Approval
Are there any upfront fees to apply for a merchant account?
No, there are no upfront fees.
Other merchant account providers may charge application or setup fees, but at AltruPay we never charge any upfront fees to open a merchant account.
How long does the application process take?
Once your application is complete and you have signed the electronic agreement, we can typically approve most merchant accounts within one to three business days, depending on your business type.
Note that the approval process may take longer if your business has unique processing needs or underwriting requirements, or operates in an industry that is classified as high risk.
Why do I need to provide recent business bank and credit card processing statements?
These statements are required so that the processing bank can ensure compliance with the federal Bank Secrecy Act (BSA). Recent business bank and credit card processing statements allow for the bank to meet these compliance standards.
Underwriting Documents
Business Bank Statements
Why required: Underwriting reviews recent statements to confirm your company’s financial stability, active operations, and ability to manage refunds or chargebacks.
What to submit: Your three most recent business bank statements (all pages). New businesses may submit the owner’s personal statements instead.
How to obtain: Log in to online banking and download PDF statements. Screenshots are acceptable if they clearly show balances and deposits.
Voided Company Check
Why required: A voided check verifies your account ownership and routing details to ensure deposits go to the correct account.
What to submit: A pre-printed business check showing your business name, bank name, routing, and account number. Write “VOID” across the front.
How to obtain: Use an existing check or request one from your bank. If your business doesn’t have printed checks, ask your banker for a Verification Letter on official letterhead.
Owner’s Identification
Why required: To comply with federal KYC and AML laws, Altrupay must verify the identity of the business owner(s) to prevent fraud and ensure regulatory compliance.
What to submit: A clear, valid copy of a government-issued photo ID such as a driver’s license, passport, or state ID.
How to obtain: Scan or photograph your current ID in color, ensuring all text and images are legible.
Credit Card Processing Statements
Why required: Processing statements help underwriting assess sales volume, refund activity, and chargeback history for accurate risk evaluation and pricing.
What to submit: The three most recent months of credit card processing statements from your current or previous processor (all pages). New businesses may skip this.
How to obtain: Download PDF statements from your processor’s merchant portal or request copies from their support team.
Federal Firearms License (FFL)
Why required: For firearm merchants, underwriting must confirm your business holds a valid FFL to comply with ATF and federal law.
What to submit: A current FFL showing your business name, premises address, FFL number, expiration date, and license type (Dealer, Manufacturer, or Importer).
How to obtain: Download from the ATF eForms portal or verify your license through the ATF FFL eZ Check system. If you only sell accessories or ammunition, an FFL isn’t required.
Fees & Pricing
What are your merchant account rates and fees?
We provide an individualized price quote for each business based on a number of unique factors. These factors include industry, business history, owner credit, and estimated processing volume.
As contrasted with (typically higher) “blanket pricing,” individualized pricing enables us to offer each business the lowest possible rate that they qualify for.
What does “interchange” mean?
Interchange is the largest component of a business’ credit card processing costs. Each business will pay a percentage of every sale to interchange (typically 1-2.5%).
This interchange rate is set by Visa / Mastercard / Discover, and is unfortunately not negotiable. The proceeds are paid to the bank that issued each customer’s credit card, and it typically pays for the customer’s credit card rewards program.
What does “PCI” mean?
PCI SSC (or “PCI” for short) is a security protocol legal requirement to ensure that all companies that process, store or transmit credit card data maintain a secure environment.
Business owners who accept credit and debit cards are required to be PCI compliant, which typically requires them to complete an online questionnaire, and then take steps to secure any credit card data that is managed in their business.
Merchant services fees will typically include a PCI compliance fee, which pays for the ongoing PCI compliance monitoring and related customer service costs.
Do your payment services have any long term contracts or termination fees?
No. Long term contracts and termination fees are inconsistent with the “altruistic” philosophy at AltruPay.
We believe in earning our clients’ business by providing a great product at an attractive price, along with relationship-based support.
At AltruPay, we don’t believe in trapping clients with big termination fees.
Technology & Integration
What merchant account security protocols are used by your platform?
AltruPay and its partners utilize the following security protocols to protect sensitive financial data and prevent fraud: PCI DSS Compliance, Encryption, Tokenization, and a suite of fraud detection tools.
Can you integrate with my shopping cart, software, or POS (point of sale)?
Yes! We integrate with over 200 shopping carts, software platforms, CRMs and point of sale systems, and are regularly adding more.
Your account manager will discuss your specific integration needs, and a customer success specialist will guide you through every step of the integration during the setup process.
Do you offer customizable payment solutions?
Yes. At AltruPay we pride ourselves on having the agility and technological capacity to integrate with almost any software, shopping cart, CRM or POS system.
Contact our support team to discuss your unique integration needs.
Setup & Support
What kind of client support do you offer?
Tons! Every new account is assigned an account manager who will be your point of contact throughout the application and approval process. Once approved, you’ll have a one-on-one session with a customer success specialist who will guide you through any integrations, perform a test transaction, and help you log in to your dashboard, and who will be an ongoing resource for any questions or issues that arise.
What is the process for account setup and activation?
After you’re approved for a merchant account, you will receive a welcome email inviting you to a one-on-one session with your customer success specialist.
They will guide you through any integrations, perform a test transaction, and help you log in to your dashboard. We make it easy!
What kind of chargeback mitigation tools do you offer?
Clients who have had a previous history of chargebacks, or who operate in an industry in which chargebacks are common, may choose to enroll in one or more of our chargeback mitigation tools. These tools include:
- Chargeback Alerts: Get notified of any requested chargebacks, so you can preemptively refund a customer, and avoid the chargeback from hitting your account.
- 3DS Checkout: eCommerce businesses can add an additional security layer to their checkout process, which (if properly implemented) will transfer liability for chargebacks from the business to the customer.
- Chargeback Management: Chargebacks can be automatically disputed on your behalf, so that you aren’t responsible for the dispute process.