We recently distributed the most up to date versions of both the card-present and card-not present ME application. Since we’ve had questions from a few partners and we’ve recently experienced some missing information on the new application we thought it would be a good idea to review and explain the new items in more detail. It’s important that the apps you submit are complete and accurate in order for the underwriting process to go smoothly and quickly.
- Business Information
- Merchant History
- Merchant Bank Account
- Payment Options
- Product Selection
- Fee Schedule
- Terms and Conditions
- Approval Expedition Tip
- Updated Additional Location Form
Two new specific email addresses have been added to the contact section for the direct PCI and chargeback contacts. If these are completed, communication on issues related to those topics will be sent to the right person whenever they arise.
MCC/SIC code must be entered. Since most ME applications are ARM related, the MCC will be either 8931, if the merchant’s portfolio is general collections, or 8099, if the merchant’s portfolio is majority medical and they would like to accept HSA and FSA cards. This was added to ensure that accounts are set up correctly to accept the desired card types. If you are unsure or have questions about other MCC codes, please ask your RM before having the app signed and submitting it.
Two questions regarding MATCH have been added to accurately reflect merchant history.
Bank information has been expanded to include all possible bank accounts to be used with clear separation for deposits, chargebacks and merchant fees. This section replaces the Checking Account Set Up form, which is no longer required.
No changes, but please remember that AMEX is no longer an option for third party collection agencies through ME.
Some new options are listed that Payscout does not typically offer and the layout has changed. For a typical boarding scenario, Other Solution would be checked and the name of the intended gateway entered.
BET Table has been added so that pricing is accurate and it follows the new Payscout guidelines. Please make sure you are using one of the BET tables listed in the pricing email that was sent to you in June. You can review that message and reference the updated BET tables here. Please contact your Relationship Manager for this chart if needed.
If you use a Flat Pricing Structure, use BET 4436 and only one rate needs to be entered. This pricing includes the interchange rates charged by the card brands and so needs to be quoted appropriately to cover those costs.
If you use a Tiered Pricing Structure, use one of the BETs listed in the 46XX series to achieve the mid-qual & non-qual downgrades that you have quoted. Only the Credit Qualified and Debit Qualified (if that is quoted separately) rates need to be filled in. The chosen BET table will handle the rest. Additional rates can be filled in if your merchant wants to see them, but it isn’t required.
If you use a Pass-Through Pricing Structure (IC plus), remember that the rate listed will be added to the interchange pricing that the card brands charge.
The PIN Debit section has been relocated to the bottom of column 1.
This is a new section that requires separate initials from the “Authorized Signer”. This section has been added since the Terms and Conditions are no longer attached to the application form and it is important to point out that they are readily available and to have that acknowledged.
The best way to ensure a fast and efficient approval-time for all your merchant applications is to ensure everything in the application documents is filled in correctly, ensure all signatures have been executed (especially the Personal Guarantor), and provide all supporting documentation. Submitting a correctly completed application the first time saves countless hours for you and your merchants!
Lastly, there is a new Additional Location Form, which you can access here. Please use this form for adding Additional Locations to your ME accounts going forward.
Please contact your dedicated Relationship Manager directly or at email@example.com for any questions you may have about the application process. We are here to help!