How long does the application-approval process take?
Once your application is submitted, it will be reviewed by our credit underwriting department. In most cases, you will receive a decision on your application within two business days (often quicker). We will contact you via e-mail with a decision. Occasionally, a business will be asked to supply additional information in order for us to arrive at a decision. After receipt of any additionally requested information, you will be notified of a decision within one to five additional business days. Upon application approval, your new merchant account must be activated at the bank and throughout the credit card processing network. This takes up to two more business days. You will receive another e-mail notifying you when your account has been activated.
An SSL certificate is a digital certificate that authenticates the identity of a Web site and encrypts information that is sent to the server using Secure Sockets Layer (SSL) technology. Encryption is the process of scrambling data into an undecipherable format that can only be returned to a readable format with the proper decryption key. A certificate serves as an electronic “passport” that establishes an online entitys credentials when doing business on the Web. When an Internet user attempts to send confidential information to a Web server, the users browser accesses the servers digital certificate and establishes a secure connection. An SSL certificate contains the following information: The certificate holders name The certificates serial number and expiration date A copy of the certificate holders public key The digital signature of the certificate-issuing authority …
After submission, the Paymentech Credit and Underwriting department reviews your application. If the application is approved, Paymentech will contact you via e-mail (in most cases, within 24 hours of submission). If additional review of your application is deemed necessary, you will be notified of a decision within 1 to 3 business days with the approval or denial of your application.
