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What is Merchant Onboarding? How it Works, Benefits & Key Players

Razorpay

Underwriting: Assess the business’s financial stability, creditworthiness, and risk profile. Payment Gateways They serve as technology platforms that facilitate secure data transfer between businesses and PSPs or acquiring banks. Acquiring Banks Acquiring banks collaborate with PSPs during merchant onboarding.

IT 40
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What are Merchant Category Codes (MCC)? – Importance and Examples

Razorpay

Acquirers and payment processors use MCC data to assess the risk profile of a merchant and apply appropriate measures, such as higher reserve requirements, more stringent underwriting procedures, or additional fraud prevention tools. This helps mitigate potential losses and ensures the stability of the payment ecosystem.