All merchants using Pymt must fill out our underwriting application before accepting card payments. Applicants are typically approved in 4-6 business hours. Underwriting merchantallows us to keep our service cost low and service experience high, as well prevents the need for reserves and surprise deposit holds. The typical processing time is next-day for most merchants.  Underwriting is evaluating the potential risk associated with a merchant. Merchants accepting payments must be able to fulfill financial obligations; for charges that might result from excessive refund and chargeback transactions, for instance.

Many other payment processors hold funds (up to 30%) for 90+ days before releasing the funds to the merchant. We do not believe this is good for any business so we perform underwriting on the front-end to virtually eliminate the need for fund withholding.