multi-merchant payments processing
Multi Merchant allows merchants and SaaS providers to maintain an unlimited number of merchant accounts in a single interface, a single vault for all stored credit card data, and consolidated reporting and reconciliation.
Additional benefits include:
- Dramatically simplifies PCI Compliance by entirely eliminating the handling, processing and storage of credit card information without changing the user experience and providing full control over the credit card data.
- Overcoming the challenge of being a third party payments aggregator.
In the past, PCI Compliance and third party payments aggregation have been two of the largest stumbling blocks for merchants and SaaS providers who sought to include a bundled and comprehensive payment processing solution as part of their primary offering. Using Multi-Merchant, merchants and SaaS providers can process payments using the customer's merchant account to avoid aggregating payments. Funds are deposited directly into the business's merchant account, not the provider's.
Merchants and SaaS providers who have attempted to become or are a third party payments aggregator (where one business uses their merchant account to processes a payment on behalf of another business) are well aware of two primary challenges. First, the Card Associations have strongly discouraged the practice of third party payments aggregation, which has made most merchant account providers reluctant to underwrite the business. Secondly, aggregators tend to have a higher percentage of chargebacks and retrievals because the business name on the consumer's credit card statement usually differs from the name of the merchant from which they purchased the good or service.
Multi-Merchant is complete with a control panel for both the provider and merchants to use, extensive user access controls and complete reporting and reconciliation that can be customized to meet specific needs.