NOVA can facilitate the clearing of their transactions through our processing systems. It takes approximately eight to ten business days to get set up, depending on the type of processing you do. NOVA offers a variety of equipment products that will facilitate most types of businesses. In addition, we offer a very competitive lease option should you decide not to purchase equipment. NOVA extends virtually unlimited lines of credit when a merchant account is set up.
Financial stability is the most critical component of the approval process.
The detail of your fees will appear on your merchant statement that would be received the first full business week of the month following the activity. NOVA charges a setup fee to cover the cost associated with credit underwriting and merchant deployment. This fee will be quoted to you by your account executive. Interchange is the processing fee charged by Visa and MasterCard to charge the cardholders and pay the merchants. The interchange fee is actually paid to the bank that issued the card while the merchant's bank is charged the interchange fee.