Velocity ProcessIng

305-917-7000

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    • RECURRING BILLING
    • CUSTOMER LOOKUP
    • VIRTUAL TERMINALS
    • UNDERWRITING PROCESS
    • APPLICATION INSTRUCTIONS
    • SECURE APPLICATION
    • SIGNATURE PAGE
    • ZERO COST CREDIT ADDENDUM
    • INTELLIGENT RATE APP
    • SUPPORTING DOCUMENTS
    • FINANCIALS REQUIREMENT
    • MERCHANT STATEMENT UPLOAD
    • GENERAL FILE UPLOAD
    • NEW MERCHANT TO DO LIST
    • WEBSITE REQUIREMENTS
    • TRANSACTION FEE IMPACT
    • SAMPLE AUTHORIZATION FORM
    • DOCUMENT LIBRARY
    • AUTHORIZE.NET
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    • FIND MY IP ADDRESS
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    • MAKE A PAYMENT
    • THE VELOCITY STORY
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    • MISSION
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    • PROCESSING PLATFORM
    • JOIN A MEETING
    • CLIENT PORTAL
    • PCI ELECTION
    • PCI COMPLIANCE
    • CONVERGE FIRST AID
    • CARDX TRAINING SCHEDULE
    • FRAUD AND CHARGEBACKS
    • CREDIT CARD TERMINALS
    • CHANGE REQUEST
    • ACCOUNT VERIFICATION
  • SEND US A REFERRAL
    • HOME
    • SOLUTIONS
      • CARD ACCEPTANCE OPTIONS
      • PAYMENT DEVICES
      • CARDX
      • COMPREHENSIVE ANALYTICS
      • REDUCED EXPENSES
      • NEXT DAY FUNDING
      • COLLECTING PAYMENTS
      • ENHANCED REPORTING
      • RECURRING BILLING
      • CUSTOMER LOOKUP
      • VIRTUAL TERMINALS
    • SIGN UP NOW
      • UNDERWRITING PROCESS
      • APPLICATION INSTRUCTIONS
      • SECURE APPLICATION
      • SIGNATURE PAGE
      • ZERO COST CREDIT ADDENDUM
      • INTELLIGENT RATE APP
      • SUPPORTING DOCUMENTS
      • FINANCIALS REQUIREMENT
    • RESOURCES
      • MERCHANT STATEMENT UPLOAD
      • GENERAL FILE UPLOAD
      • NEW MERCHANT TO DO LIST
      • WEBSITE REQUIREMENTS
      • TRANSACTION FEE IMPACT
      • SAMPLE AUTHORIZATION FORM
      • DOCUMENT LIBRARY
      • AUTHORIZE.NET
      • CONVERGE
      • FIND MY IP ADDRESS
      • NDA REQUEST
      • MAKE A PAYMENT
    • ABOUT US
      • THE VELOCITY STORY
      • EXECUTIVE BIOS
      • GOOGLE REVIEWS
      • MISSION
      • OUR VALUES
      • PROCESSING PLATFORM
    • SUPPORT
      • JOIN A MEETING
      • CLIENT PORTAL
      • PCI ELECTION
      • PCI COMPLIANCE
      • CONVERGE FIRST AID
      • CARDX TRAINING SCHEDULE
      • FRAUD AND CHARGEBACKS
      • CREDIT CARD TERMINALS
      • CHANGE REQUEST
      • ACCOUNT VERIFICATION
    • SEND US A REFERRAL
Velocity ProcessIng

305-917-7000

  • HOME
  • SEND US A REFERRAL
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THE UNDERWRITING PROCESS

All merchant accounts go through an underwriting process as required by the card associations (Visa, MasterCard, American Express, and Discover). Our philosophy is to perform the underwriting process correctly to ensure that you always have a smooth processing experience.

UNDERWRITING OBJECTIVES

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SMOOTH PROCESSING

Great merchant accounts give you the ability to have smooth processing long after the approval. Our strength is our ability to provide stability and longevity without interruptions or red tape.

<< RETURN TO UNDERWRITING OBJECTIVES
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QUICK FUNDING

Our systems provide expedited funding regardless of transaction amounts or batch totals. If you process $10,000 on Monday, you'll have a $10,000 deposit on Tuesday morning.

<< RETURN TO UNDERWRITING OBJECTIVES
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GROWTH & SCALABILITY

Process payments with confidence knowing that your company can grow and dramatically increase the amount of card acceptance without having a monthly cap or delayed funding.

<< RETURN TO UNDERWRITING OBJECTIVES
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PREVENT PROBLEMS

We'll share best practices, provide free education and training, review credit card authorization forms, and ensure Payment Card Industry (PCI) compliance. We're here to protect you every step of the way.

<< RETURN TO UNDERWRITING OBJECTIVES

POTENTIAL PROBLEMS

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LOCKED ACCOUNT

If a processor's risk team is uncomfortable with the activity of a merchant account and they don't have a strong partnership with the office that manages the relationship, they can lock the account and prevent further processing until the issues are resolved.

<< RETURN TO POTENTIAL PROBLEMS
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PERMANENT CLOSURE

Accounts that have information withheld or misrepresented can be set to a permanent closure and placed on the Match list - eliminating the possibility of opening a merchant account with another processor.

<< RETURN TO POTENTIAL PROBLEMS
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CASH RESERVES

Processors can request a cash reserve or withhold deposits if they feel that an account is becoming risky. This represents the critical nature of having a thorough underwriting process.

<< RETURN TO POTENTIAL PROBLEMS
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ADDITIONAL DOCUMENTS

Processors reserve the right to ask for additional documents once an account is approved and can place a hold on deposits for up to 6 months. Ensuring that the correct documents are provided in advance eliminated stress and aggravation in the future.

<< RETURN TO POTENTIAL PROBLEMS

RESTRICTED VS. PROHIBITED ACCOUNTS

RESTRICTED BUSINESS TYPES

PROHIBITIVE BUSINESS TYPES

PROHIBITIVE BUSINESS TYPES

These accounts can be approved but have some restrictions and may require additional documentation.

VIEW RESTRICTED LIST >

PROHIBITIVE BUSINESS TYPES

PROHIBITIVE BUSINESS TYPES

PROHIBITIVE BUSINESS TYPES

These accounts are automatic denials in accordance with the prohibitive business lists published by the card associations.

VIEW PROHIBITIVE LIST >

RESTRICTIVE BUSINESSES (POSSIBLE APPROVAL)

PROHIBITIVE BUSINESSES (AUTOMATIC DECLINE)

  • TERMS OF USE
  • PRIVACY POLICY
  • REFUND POLICY
  • SEND US A MESSAGE
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Velocity Processing is a registered Independent Sales Organization (ISO) / Member Service Provider (MSP) of Elavon, Inc. Georgia, a wholly owned subsidiary of U.S. Bancorp, Minneapolis, MN. Elavon has been processing electronic payments for 37 years and maintains an "A+" rating with the Better Business Bureau.

Audio Bridge : 872-240-3212

"Visa", "MasterCard", "American Express", "Discover", "OptBlue", "Apple Pay", "VeriFone", "ARB", "CIM", "PulsePoint", "Global Learning Lab", and "CardX" are trademarks and/or service marks of their respective owners.

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