How to Ensure Your Merchant Account Application is Approved

Getting a merchant account should be easy. After all, they’re going to make money every time you process a transaction. They should be happy to have your business, right? If only that was the case.

The payments business is highly competitive, and processors obviously want your business – but they still need to do their due diligence before approving your application. In this article we’re going to tell you exactly how to ensure your merchant account application is approved, and what to do if you’re declined.

Since the payment industry and the jargon used is fairly complicated, we’re also going to define some commonly used terms, like merchant account, payment gateway, and payment processor. If you already know the basics, feel free to skip the definitions.