The Green Sheet Online Edition
October 10, 2014 • 14:10:01
Merchant applications made simple
Payment technologies innovator Electronic Payments Inc. released the newest iteration of its BankCardApp online merchant application system. The company enhanced the latest version to streamline the application process further to ensure faster approvals, alleviate data entry issues and enable agents to onboard merchants much faster.
"Automating the application process is crucial to ISOs and agents seeking online account acquisition tools," stated Michael Nardy, Chief Executive Officer of Electronic Payments. "Our partners can process more merchant applications than ever before with a solution that is convenient and efficient, and best of all, they can do it in a face-to-face environment or via email, depending upon the sales process."
According to Electronic Payments, the BankCardApp breaks down account details in simple terms and provides concise pricing summaries for each merchant that applies for Electronic Payments' processing products and services. "Businesses are oftentimes intimidated by the standard merchant application, but our clients have a clear understanding of their merchant account from the very beginning," the company stated. "Plus, they have complete control over sensitive information."
With BankCardApp, sales channel partners have the ability to set merchant pricing and account details for each merchant application submitted, making it easy to customize. The app also integrates with Electronic Payments' ISO Interface agent web portal. Through the portal uploaded applications are automatically directed into the underwriting queue for review, the company noted.
While awaiting approval, channel partners can review documents and check the status of merchant applications in progress. Agents may also upload supporting collateral without having to fax documents.
Additional benefits of the BankCardApp include:
- Editable pricing templates for agent customization
- E-signature capability to speed the application process
- Identity verification for customer-not-present sales situations
Whether you want to upgrade your POS offerings, find a payment gateway partner, bone up on fintech regs or PCI requirements, find an upcoming trade show, read about faster payments, or discover the latest innovations in merchant acquiring, The Green Sheet is the resource for you. Since 1983, we've helped empower and connect payments professionals, starting with the merchant level salespeople who bring tailored payment acceptance and digital commerce tools, along with a host of other business services to merchants across the globe. The Green Sheet Inc. is also a proud affiliate of Bankcard Life, a premier community that provides industry-leading training and resources for payment professionals.
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