Merchant Account Checklist

Our merchant account checklist outlines what is needed to get a merchant processing account, and how to proceed once you have each piece in place.

 

Opening an Online Merchant Processing Account

What is required to apply for a merchant processing account:

  A company based in a relevant jurisdiction

You will need to have a company within the relevant jurisdiction, this is due to restrictions that some processors in certain jurisdictions have. If you do not have a company, you will need to contact us to find out how we can help you with a complete package for your online business

  A company bank account

You will need a bank account for your company. If you do not have a company, and contact us for a complete package, we will arrange one as part of the package, however if you have a company without a bank account, contact us, and we can setup a bank account for your company.

 A business plan

This is required by most acquirers for the application of a start-up merchant processing account. However if you are an established online merchant, you can provide processing statements instead of a business plan. If you do not have a business plan, contact us, and we will prepare one for you.

Once you have a registered company with a bank account and a business plan, you can proceed with the following steps:


  • Step 1: Complete our application form, if you have not already done so.
  • Step 2: We will review your application form, and from there we will let you know whether you qualify for an account or not.
  • Step 3: If you qualify for a merchant processing account with one of our merchant acquirers, we will then proceed with a complete application form, as well as sending company documentation to the acquirer.
  • Step 4: Once the acquirer has run its risk assessment on your company, we will then inform you as to whether we can place you as a merchant or not.
  • Step 5: Once you are accepted, the signing of contracts with the acquirer will happen. Once this is done, your account will go live.

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Need any additional information on how to start the process of opening an online merchant processing account?

Contact Us