Merchant Account Checklist

How to start Opening an Online Merchant Processing Account

This section will explain to you what is needed to get a merchant processing account, and how to proceed once you have each piece in place.

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.

If you would like any additional information on how to start the process of opening an online merchant processing account, please Contact Us.

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