North American Bancard Announces Instant Merchant Boarding
Newly automated underwriting logic drives real-time and consistent approvals; reduces pending applications
TROY, Mich., November 28, 2018 – North American Bancard Holdings (NAB), a multifaceted and award-winning payment solutions provider, recently announced a new and automated merchant boarding process. This advancement is a simplified way for resellers to provide a client-focused, strategic differentiator to their merchants that allows them to be ready for payment acceptance faster than ever before.
The streamlined instant boarding process is evaluated in real-time through queried compliance checks. Once an application is submitted, responses are generated in minutes. The account is either approved instantly or sent for manual review, where secondary checks are made to accelerate funding approval to help a merchant begin processing.
"In today’s world of fraudulent activity and data theft, merchant onboarding has become incredibly complex, and for good reason," said Dave Greenberg, chief administrative officer for North American Bancard. "At North American Bancard, we’re excited to provide our partners a rapid, yet safe, merchant boarding process. Accounts can be approved exponentially faster, effectively eliminating many of the underwriting delays that occur with traditional merchant onboarding.”
Instant merchant boarding has helped mitigate the practice of limiting transaction volumes, held funds and account cancellation for merchants. Innovation within the merchant boarding process has created near real-time MID-generation and processing that allows merchants to begin taking payments just as soon as the automated underwriting is successfully completed.
Here are some of the benefits of Instant Merchant Boarding:
● Faster and more approvals than ever – accounts are boarded and approved within minutes of submission.
● No underwriting delays.
● Reduced overall pending applications.
● Customized, flexible system – partners can easily manage workflows with their Relationship Manager.
Instant merchant boarding allows for a simplified and streamlined merchant account enrollment and onboarding process by offering a tailored, white-labelled processing solution. Using the power of modern technology to allow for rapid, highly accurate risk decisions, ultimately leads to higher merchant conversion rates for ecommerce and brick-and-mortar merchants.
About North American Bancard Holdings
Founded in 1992, North American Bancard Holdings (NAB) is an innovative payment technology company that's reimagining the payment experience for the evolving merchant economy. With its own secure, international processing platform, NAB provides end-to-end transaction solutions, eliminating the need for multiple vendor relationships by combining the functionality of an ISP, merchant acquirer, gateway, front-end, and back-end processor. NAB’s diversified product solutions enable all globally preferred payment methods in mobile, online, and in-store environments. As North America’s sixth largest non-bank acquirer, NAB serves more than 350,000 businesses and processes more than $50 billion in electronic payments annually. For more information, visit www.nabancard.com Source:
Source:Company press release.