Merchant Processing Application
Hello Agents! As a Sales Partner, you know that the Merchant Processing Application is the fourth step in the five-step process for signing up an account. Today we are going to break down the Merchant Processing Application, also known as MPA. This way, you as a Sales Agent with FlashBanc can get a better understanding of it and have a smoother boarding process for the potential merchants.
What Is The Merchant Processing Application?
The Merchant Processing Application is a form that when filled out, will provide information and details about the potential merchant business. The Merchant Processing Application is not only a form with details about the business, but also an agreement form. The potential merchant is making an agreement that they want FlashBanc to be responsible for their payment processing fees.
What Does The Merchant Processing Application Consist of?
The Merchant Processing Application is broken up into nine sections and a confirmation page. This is the list of the following sections you and the merchant are expected to see on the application before the confirmation page:
- Business Information
- Additional Credit/Site Survey Information – All Merchants
- Settlement Information
- Transaction Information
- Grid Information – Internal Use Only
- Service Fee Schedule
- Equipment/Third Party Information
As a Sales Partner with FlashBanc, we want our agents to be prepared and well-educated in the process before going out in the field to make that closing deal. On the MyFlashBanc website, agents are able to obtain a copy of the form to look through it beforehand. The form is located in the Documents Tab, and then in the subdivision tab called Omaha Applications & Forms. You will then see a link titled Merchant Standard Application & Confirmation Page. Although the application may look like a lengthy process to the Sales Agent and the potential merchant, however, if the sales agent is well prepared, they can create ways for the process to go by quickly.
Bring Awareness To Fine Print and Details
FlashBanc is a company that keeps in mind the best interests of our Sales Agents and our merchants, so, we want to bring awareness to the major details lying within the fine print of the contract to ensure the best deal is being made. Bringing awareness to those details displays effective communication skills. Communication is key between merchants and Sales Agents because it is what keeps that relationship moving forward and thriving with trust.
One detail that the potential merchant should know about is the cancellation fee. However, as a Sales Agent, we know that we may not want our merchants to cancel their agreement, but in the event in which that happens, merchants should be aware of actions that may come next. If potential merchants are aware of all the conditions that come with early termination of the agreement, it will cause less confusion and disagreement between the Sales Agent, the potential merchant, and the FlashBanc support team.
The Merchant Processing Application is an important form, it is the process of signing up a new merchant with FlashBanc who believes in the customs and personnel at FlashBanc. So, it is important as a Sales Agent to familiarize yourself with the form to make that step in the process smoother.