Onboarding Merchant Flow
Outlined below is the flow for ISV (Independent Software Vendor) or ISO (Independent Sales Organization) partners looking to onboard merchants to Pockyt:
Example Scenario 1: Integration with an ISV Partner (Point of Sale Software Company)
This example scenario illustrates the interaction and workflow between Pockyt Payments, an Integrated Service Provider (ISV) partner specializing in Point of Sale (POS) software, and a retail merchant.
Step 1: Partnership Formation and Agreement
POS Company and Pockyt Agreement: The POS company, which provides software solutions for retail merchants, forms a partnership with Pockyt Payments. This agreement enables the POS company to support their retail merchants in accepting a wide range of payment methods, including various digital wallets, through their POS system.
Step 2: Merchant Acquisition and Application Submission
A sales agent from the POS company identifies a potential retail merchant who is interested in utilizing their POS system and wishes to accept multiple payment methods. The sales agent collects the necessary application information from the merchant and submits it to Pockyt. Different methods can be used depending on how the application information is collected and submitted.
Step 3: Pockyt's Application Review and Configuration
Upon receiving the application, Pockyt conducts a comprehensive review, including compliance checks, risk assessment, and underwriting reviews of the submitted materials. Once the application is approved, Pockyt begins the process of configuring the merchant's account to enable the acceptance of the approved digital wallet payment methods.
Step 4: Communication and Credential Distribution
After completing the review and account configuration, Pockyt sends an email to both the POS Company and the responsible Sales Agent. This email informs them of the results of the application process and the specifics of the configuration. It also includes the necessary product credentials that the merchant needs to start accepting payments through the newly configured payment methods.
Updated about 2 months ago