What acquirers look at before they say yes

Every time a business applies to take card payments, an underwriter at the acquirer decides whether to say yes, on what terms, and with what conditions. We see a lot of applications that get delayed or declined for reasons that were easy to fix. Here is what they are looking at.

1. What you actually sell

Underwriters want a clear picture of your products, how you deliver them and who your customers are. Vague descriptions slow things down. Be specific, and be upfront about anything unusual in your model.

2. Your website

Most acquirers will review your site before approving you. They expect to see:

• Clear prices and what the customer gets
• Terms and conditions, and a refund and returns policy
• A privacy policy
• Your company name, address and contact details
• For subscriptions, clear information on how billing and cancelling work

A missing refund policy is one of the most common reasons for a delay.

3. Your processing history

If you already take cards, your last few months of statements show your volumes, average transaction size and chargebacks. A clean history makes you a lower risk and helps on price.

4. Chargebacks and refunds

A high rate of chargebacks is one of the biggest red flags. If yours are high, explain why and what you are doing about it. Showing a plan helps.

5. Delivery times

If customers pay now and receive the product weeks or months later, the acquirer is taking on more risk, because they may have to refund customers if you cannot deliver. Expect questions, and possibly a reserve, where some of your funds are held back for a period.

6. The people behind the business

Acquirers have to check the directors and anyone who owns 25% or more. Have ID and proof of address ready for each of them.

7. Your sector

Every acquirer has its own appetite. A business one acquirer turns away may be welcome at another. That is a big part of what we do: matching your business to the acquirers most likely to say yes.

Get it right first time

Most delays come down to missing documents or an unclear picture of the business. Before you apply, get your website policies in order, gather your statements and ID, and write a clear paragraph on what you do. Or let us do the legwork. Start an application and we will tell you what is missing before anything goes to an acquirer.