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Merchant Underwriting: What It Is, How It Works, and Why It’s Important

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Merchant account underwriting is the evaluation process payment processors use to assess whether a business meets the criteria for accepting credit card payments. Tools like AI and data analytics enable faster evaluations by analyzing vast amounts of data and identifying patterns.

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8 Top Stripe Alternatives: In-Depth 2023 Guide

FastSpring

Sift uses machine learning and AI to analyze millions of global transactions each month to identify risky transactions with higher accuracy. With Square, you can accept payments from your online store, in-person, or via social media. However, if legitimate transactions get marked as fraud, you’ll lose revenue.

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The Ultimate Guide to Online Payment Processing

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Step 3: Get your merchant account We already established that you cant accept credit card payments without a merchant account. You can apply directly for one from a merchant acquiring bank, but we recommend getting one from your payment services provider to make the process faster and smoother.