How to apply for a Zion Payments merchant account. A simple, useful guide: just the way we like it
We know what it’s like. You’ve got a fantastic new product range. The design and packaging is spot-on. The marketing campaign is bringing in new customers and the website looks great. But if your payment provider isn’t up to speed, it’s all for nothing. Without a reliable and efficient way to handle your sales and payments, crucial revenue is lost. And if they can’t deal with the basics, how are you expected to run a successful business?
At Zion Payments, our team of dedicated specialists understand exactly what you want from a payment gateway, which is why we keep our core objectives plain and simple:
• Providing you with a smooth and stable processing solution • Settling funds promptly and reliably
What happens next?
If this sounds like the kind of payment solutions service you need, we can then take you through our merchant account application process. Our onboarding process is reassuringly rigorous – because we know our reputation – and your trust – is based on doing things by the book, safely and securely.
In cooperation with the acquiring bank who will accept the customer funds on your behalf, we need to complete the necessary checks to ensure compliance with the law, financial regulators and card scheme rules. This process ensures you will gain access to the most secure solution, with the confidence and longevity to focus on what your business does best.
To explain more fully, the key areas of risk that are examined in applying for a merchant account are:
These include your certificate of incorporation, articles of association, a register of directors and shareholding certificates. Since Anti-money Laundering (AML) and Terrorist Financing (TF) are very serious issues, these documents allow the bank to be 100% confident in the structure of your business and the people involved in it.
Identity of individuals
For the above reasons, personal screening is more important than ever. To open your merchant account, you will need to submit personal ID to verify yourself, just as you would when opening a new crypto wallet or a driving scheme account.
Your bank account will need to be in the same name as the business you wish to be registered with the bank. Corporate structures involving parent or holding companies. If you’d like to find out more about partnering with Zion Payments, get in touch today on either email@example.com or 0800 054 6567.