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The quickest way to start using Clearmint is by filling out an application—it’s fast and easy. But if your business handles a lot of payments or has more complex needs, our sales team is here to help. Just tell us a bit about your business, and we’ll point you in the right direction!
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Frequently Asked Questions
What is the difference between a payment gateway and a merchant account?
A merchant account is a financial institution or bank account used by a merchant that businesses use to collect payments from customer bank accounts or credit card payment transactions.
A payment gateway is the system that lets you accept credit cards and electronic payments online, at terminals, or on mobile devices. It also helps with things like managing transactions, generating reports, and handling billing.
If you have a Card Present (CP) merchant account, you can accept payments at a physical location where customers pay in person.
On the other hand, a Card Not Present (CNP) merchant account is for accepting payments electronically or in situations where the customer isn’t physically there during the transaction.
Is my business bank account the same as a merchant account?
No, a merchant account is basically a special type of bank account that lets your business accept payments from debit or credit cards. Think of it like a credit line that allows your business to take payments or issue refunds.
Your merchant account is specific to you and your business. When you apply, an underwriter will review things like your industry, processing history (if you have one), personal credit, and your business’s creditworthiness. Once you’re approved, you’re all set to start accepting payments!
How long do payouts to my business bank account take?
Typically your Clearmint balance is available for payout between 2 to 5 business days. Your default payout schedule is set to daily automatic payments, meaning your Clearmint balance will be transferred to you every day as soon as funds settle and it becomes eligible for payout. You can also opt to receive payouts weekly or monthly.
What types of payments can I accept with Clearmint?
We offer a variety of payment options ranging from credit cards, ACH, and digital eChecks. Acceptable forms of payment may include Visa, MasterCard, Discover, American Express, plus Google Pay and Apple Pay.
How long does it take to apply, and what is required?
Once you’ve completed the application, your Clearmint Payment Gateway account will be approved automatically. That said, to accept credit cards, you’ll need a merchant account. Approval for this can happen right away or take anywhere from one to five business days (or longer), depending on factors like your industry, credit history, and how quickly you respond.