Once you’ve decided which company you are going to proceed with, you’ll need to complete and submit a short application form. This generally relates to the legal information within the company and the directors within the establishment. The application is then submitted and providing the application has been successful, in most cases you should have the merchant account generated within 3-5 working days. Once the account has been approved you will be provided with your own unique MID – merchant identification.
However, be aware that your wait time will be delayed if the merchant acquiring bank does not receive the correct documentation, or if your business is judged as high risk. In the past accepting accept card payments was frequently an arduous ordeal as there wasn’t always the availability in payment devices, now you can accept credit card payments with the latest payment technology on flexible payment terms and best of all the equipment is trouble-free to use.