Each and every merchant who wants to process card payments online needs to apply for a merchant account. PayLane offers merchant accounts that are fully registered with Visa and MasterCard.
The application procedure may be completed in 5 business days if you have all the documents (usually it takes 2-4 weeks for majority of merchants).
During the entire process, PayLane actively assists all applicants to ensure the procedure is easy to follow and all merchant accounts are set up promptly.
1. Application Form
Each prospective merchant needs to fill in the application form available on PayLane’s website.
This allows us to verify whether submitted company information is compliant with our initial requirements, recognize your business needs and prepare respective offers.
2. Merchant Questionnaire
At this point we will send you a Merchant Questionnaire to collect all the necessary information required to set up your merchant account, and a short Technical Questionnaire, which is to provide us with technical details, needed at a Technical Integration step.
We will also ask you for some legal documents, like company registration, personal IDs of board members or business owners. We may also ask you for other documents if they are required by law for your business. More information on required documents.
We would also like to draw your attention to the fact that all provided information may be verified.
4. Risk Assessment
The provided information and documents will be passed on to the risk department that conducts a risk evaluation. Risk assessment is a requirement set out by the credit card organizations to prevent credit card fraud.
This procedure usually takes about 1-5 business days.
Please note that the risk department may have additional questions, regarding your business model, the order process and the company’s structure. We will help you with answering these questions.
As soon as the risk department issues a positive opinion, we will move on to the next step.
5. Contract
We will send you a merchant contract in the PDF file, along with the instruction on how to sign the contract and where to send it. You will print out three copies, sign them and return to us via a courier.
6. Website Compliance
Once we receive the contract, we will determine whether your website (in case of e-commerce merchants) is compliant with the requirements of credit card organizations. Should we find you website not compliant at this point, we will provide you with comprehensive remediation guidelines.
7. Technical Integration
At this stage technical integration between your IT system and PayLane’s Payment Processing System is carried out. You will be given access to the Merchant Panel and a test account to perform tests before you start processing real payments.
Our experienced technical support will guide you through the technical integration.
8. Your Account Goes Live
Once the technical integration is completed we will send you your live/production account details. Then, as an Active PayLane Merchant, you will be able to process real payments.
