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

Razorpay

Some PSPs provide additional services like fraud detection, risk management, and reporting. Their responsibilities include – Acquiring banks assess the risk associated with your business. They determine the level of risk your business poses and set appropriate transaction limits.

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

Razorpay

They help financial institutions, payment processors , and card issuers understand the nature of a merchant’s business activities. This categorisation enables smooth transaction processing, accurate reporting, and effective risk management.