SYSTEM AND METHOD FOR ACQUIRING AND ADMINISTERING SMALL BUSINESS MERCHANT ACCOUNTS
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United States of America Patent
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N/A
Issued Date -
Jun 19, 2014
app pub date -
Dec 19, 2012
filing date -
Dec 19, 2012
priority date (Note) -
Abandoned
status (Latency Note)
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Abstract
A method for verifying financial credential, issuing a payment card, and creating a merchant services account includes receiving a prospective account holder payment card application and a set of financial credentials, comparing, by an underwriting element, the financial credentials to a predetermined standard for issuing a payment card, receiving an indication of applying for a merchant services account, confirming, by an evaluation element, that the financial credentials meet one or more predetermined merchant services account standards, if the financial credentials meet the predetermined standards for issuing the payment card, issuing the payment card, and if the financial credentials meet the one or more standards for a merchant services account, creating the merchant services account for the prospective account holder. A system having components for implementing the method and a computer readable medium are also disclosed.
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