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Your Guide to Managing Merchants

From merchant onboarding, to underwriting and settlements - learn how to manage merchants effectively.

Merchant Onboarding & Underwriting

Onboarding merchants to your platform can be a really big task. In order to bring on a new merchant, you have to complete compliance checks such as:

  • Prescreening

  • Identity verification/KYC

  • Merchant history check

  • Business and operational model analysis

  • Web content analysis

  • Information security compliance

  • Credit risk underwriting

With managed payment facilitation this work is done for you and you can rest assured that your merchants are being onboarded correctly. For example, adding a new merchant via the Finix dashboard is a very straightforward process. Merchant compliance checks will also need to be done to clear the merchant before going live.

Traditionally, this entire process would have been done manually and would have taken days, but with the payment facilitator model merchant onboarding and verification can happen in a day.

Learn More About Merchant Onboarding

Merchant Settlements

A Settlement is a logical construct representing a collection (i.e. batch) of Transfers that are intended to be paid out to a specific Merchant. When a payment is made by a buyer, the funds are transferred from the issuing bank to the payment processor used by the seller. Those funds are then transferred to the merchant, which is known as funding. This whole process is referred to as settlement.

Learn More About Merchant Settlements

Chargebacks & Disputes

Dispute management is an important factor when working with merchants, as they will inevitably occur. The Finix Payments Glossary defines chargebacks as “A transaction made by the card issuer to the merchant's acquiring bank because of a dispute, POS error, or fraud. An excessive number of chargebacks can result in issues with card networks who may refuse to onboard merchants on their networks.”

Learn How to Manage Chargebacks & Disputes

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More Resources

There’s a lot to learn about payment processing. Get all the information you need to make thoughtful decisions about your payments strategy.