FAQs

What are “gateway” fees?

Gateways fees are service fees set by credit card gateways.  A credit card gateway is a hub for managing credit card authorization requests and relaying back the result.  Gateway fees are not to be confused with processor “fees” or credit card rates.  A merchant’s credit card rates are negotiated with a processor or merchant services provider. 

How do I change merchant processors?  I found a great deal on credit card rates!

Contact Point of Rental Software support at (800) 944-7368 and we’ll send you an agreement to start the process.  It involves replacing the current CAYAN Genius devices.  Point of Rental Software will facilitate the change once the replacement devices arrive.

What if a credit card device malfunctions?

Call CAYAN merchant support at (888) 302-2926 for immediate support.  CAYAN will troubleshoot and can ship an overnight replacement if found necessary.  Call Point of Rental Software support once the replacement device arrives to have it setup.

How long does it take for my bank to receive credit card funds? 

It is important for a business to receive their credit card funds in a timely matter.  Credit card batches are settled daily.  Albeit some processors may fund transactions in a shorter time, they do so by incurring higher risk which can be passed on to their merchants in the form of assorted higher credit card rates and fees.  Funds usually reach your deposit bank account within 2-3 business days of the transaction.  The waiting period, known as the “time to funding”, varies depending on the time of day you enter transactions, which financial institution you choose for your transactions to be deposited in, and how long it takes your bank to verify and process electronic deposits.

How long does it take for customers to receive refunds?

Refunds can take 2-14 days to fully process.  The waiting period, known as the “time to funding”, varies depending on the time of day you enter transactions, which financial institution you choose for your transactions to be deposited in, and how long it takes your bank to verify and process electronic deposits.  Due to fraud prevention amongst parties involved in a credit card transaction, refunds can take longer than sales.

What if my credit card bank deposits do not match my general ledger (GL)?

Credit card integrations do not replace regular manual reconciliation between the general ledger and credit card bank deposits.  Regarding the settlement procedure, the integration ensures the total amount of credit and debit card transactions you processed matches what the credit card gateway will submit to your processor for settlement.  If the totals match, the settlement is submitted and the End of Day process continues.  If the totals do not match, an error occurs and you should call Point of Rental Support at (800) 944-7368 to troubleshoot.  Ensuring credit card payments are transferred from customer banks to the rental company’s bank account is outside Point of Rental Software’s justification thus outside the software support scope.  Contacting your accountant or credit card merchant services provider (ASP) is recommended.