Understanding Each Boarding Status
Throughout the onboarding and underwriting process, you can monitor a Merchant’s Boarding Status to determine if they are approved to begin processing payments or where in the process their application currently sits.
Here is a brief description of what each Boarding Status means for new Merchant accounts:
Not Ready (API: 0/not ready): By default when a merchant entity is created, it will be onboarded with the Not Ready status and must be set to Board Immediately (API: 1/Ready) in order for the account to be submitted through either the manual or automated underwriting models. However, we will work with you to set up an automatic onboarding flow where we set the Board Immediately status as your clients’ accounts are created. If your portfolio is submitted via a SignUp Form, the default status will show as Board Immediately.
Your client will not be able to process payments while the account is still showing as Not Ready.
Board Immediately (API: 1/ready): This status submits a Merchant account for underwriting approval, and triggers the start of the manual or automated underwriting process. It is necessary to set a new Merchant account to Board Immediately (API: 1/ready) in order to get them fully onboarded and approved for payment processing. If your portfolio is utilizing a SignUp Form to onboard new accounts, this step can be skipped as by default these accounts are submitted to be onboarded immediately.
Under our manual underwriting model, the Merchant account will change to Not Ready within a few moments, then it will update to Successfully Boarded once reviewed and approved.
If you are using our automated underwriting model, the accounts you submit as Board Immediately will change to Successfully Boarded within a few moments (typically in less than a minute if instantly approved), or the status will show as Not Ready if the account was flagged during the verification process.
Successfully Boarded (API: 2/boarded): This status indicates that the Merchant account was approved via the manual or automated underwriting process, and is now able to process payments and fully utilize their Payrix account.
Manual Review (API: 3/manual): This status is set internally by the Payrix Underwriting team and indicates that the Merchant account is pending further manual verification. A Merchant cannot process payments with this Boarding Status, and additional documents or validation may be requested by the Underwriting team.
Once the Manual Review process is completed, the Merchant’s status will update to Successfully Boarded if approved.
Denied (API: 4/closed): This status is set internally by the Payrix Underwriting team and indicates that the Merchant account was declined and they will not have access to payment processing on the Payrix Platform.
If you have questions about why your Merchant’s account was set to Denied you can reach out to your Relationship Manager or contact the Underwriting team directly.