What is the NanoKard Merchant Wallet?
The NanoKard Merchant Wallet is a key component of the NanoKard platform. It records all sales transactions, refunds, and chargebacks, and logs every withdrawal from your wallet, whether initiated through ACH transfer or other means.
How do funds get into the NanoKard Merchant Wallet?
The NanoKard Merchant Wallet is fully integrated with our app. When a customer processes a transaction, the funds from that sale are deposited into the NanoKard Merchant Wallet. The availability of funds for release depends on the agreed-upon number of days that funds are held in arrears, as specified in your NanoKard Merchant Application.
Where is the money held?
Funds are held in FDIC-insured United States bank accounts. The names of these banks are proprietary.
How do you move funds from your wallet?
Funds are moved out of the wallet via ACH transfer. The merchant or Agent/ISO must initiate each deposit or set up a recurring ACH withdrawal from the wallet.
How does NanoKard handle chargebacks?
NanoKard directs customers to its customer support team as the first line of defense against chargebacks. The customer's bank statement will reflect this descriptor: NanoKard 888-227-4188 for NanoKard purchases. NanoKard's support team will verify the origin of the charge with the customer if there is any question. Merchants can view recorded chargebacks within the NanoKard platform under the Disputes menu.