New Merchant Boarding Flow

The onboarding process for new Merchants is crucial to ensuring a seamless integration with the Payrix Pro platform. This article provides an overview of each Merchant’s Boarding Status and the general flow detailing the various stages a Merchant account may encounter from initial signup to full activation.

With the help of informative flowcharts, gain insights into the steps involved in the boarding process, whether new to the platform or seeking to enhance understanding as a Partner. By learning these statuses, partners can maintain a smooth onboarding experience, benefiting them and the Merchants they support.

Merchant Boarding Statuses

This section describes the potential boarding statuses for Merchant accounts.

Not Ready

When a Merchant account is created on the Payrix Pro platform through a Signup Form, it starts with a Not Ready status. This status automatically updates to Board Immediately to initiate manual or automated underwriting for the Merchant’s business. If a Merchant is created through another method, such as API, this status must be manually updated.

With a Not Ready status, the Merchant is not approved and cannot process payments.

Board Immediately

After a Merchant has completed their Signup Form, their status will automatically update from Not Ready to Board Immediately and initiates manual or automated underwriting for their application:

With a Board Immediately status, the Merchant is not approved and cannot process payments. For more information, see Risk & Compliance - Underwriting Process and review the New Merchant Underwriting Flow below.

Important!

• Partners must qualify and be approved for automated underwriting.

• Instant Merchant Activation must be enabled by partners' Payrix Pro Account Manager.

• Approval for automated underwriting does not guarantee that a Merchant will be automatically approved. Flagged Merchants will have their status updated to Manual Review to proceed through the manual underwriting process.

Successfully Boarded

When a Merchant is approved through manual or automated underwriting, their status updates to Successfully Boarded.

With a Successfully Boarded status, the Merchant can now process payments and fully utilize their Payrix Pro account.

Manual Review

When a Merchant is flagged for further manual verification during underwriting, Payrix Pro underwriters update their boarding status to Manual Review to indicate that additional documents or corrections are required to complete and validate the Merchant’s application.

With a Manual Review status, the Merchant is not approved and cannot process payments. Underwriters may also request documentation or corrections related to the Merchant’s application. This may extend the manual underwriting process up to five business days, depending on the timeliness of Merchants to respond to requests for more information.

Denied

When a Merchant is declined for boarding, meaning their application did not meet underwriting requirements, Payrix Pro underwriters update their boarding status to Denied to indicate that they are not approved to board the Payrix Pro platform.

With a Denied status, the Merchant’s initial account is closed on the platform, and they will not have access to process payments on the Payrix Pro platform.

Note

For questions about why a Merchant’s account was set to Denied, contact your Relationship Manager or the Underwriting team.  

Incomplete

When a Merchant account is created, and their Signup Form is not completed, their boarding status will update to Incomplete to indicate that enough information was not submitted from the Merchant in their Signup Form to initiate manual or automated underwriting and approve or deny the application.

With an Incomplete status, the Merchant is not approved and cannot process payments.

Tip

The only way to change the status from Incomplete to Board Immediately is for the Merchant to complete the full Signup form. As a best practice, direct Merchants to use the Signup Form’s Save feature, enabling them to complete it in multiple sessions if necessary.

Pending

When a Merchant account is undergoing underwriting review and awaiting a result, typically after a Manual Review status or automatically if the Merchant is created using the Payrix Pro API, their boarding status will update to Pending to indicate that ongoing reviews are being performed on the Merchant’s application by Payrix Pro underwriters.

With a Pending status, the Merchant is currently undergoing underwriting review awaiting a result and cannot process payments. When a final underwriting decision has been made, the Merchant’s boarding status will update from Pending to either Denied if the application is declined or Successfully Boarded if approved.

New Merchant Underwriting Flow

To better understand the underwriting process from a merchant boarding perspective, the following interactive flowchart outlines the risk review process at each stage of the Merchant onboarding journey.

Tabs at the bottom of the flowchart enable you to switch between the following views:

• Full Boarding Flow: The first is the full boarding flow with API boarding status alongside risk review stages. This flowchart encompasses Referrers using autoboarding features.

• Condensed Boarding Flow: The second is a summarized boarding flow giving a simpler, high-level flow for general understanding.