Cadmium Pay Risk Analysis

This article is provides clarification about the Risk Analysis that's conducted as part of the merchant application process.

Some checks included in our screening process are:

• IRS Employer Identification Number (EIN), Taxpayer Identification Number (TIN), and Legal Name Validations required for 1099k reporting purposes.
• Know Your Customer (KYC) and Know Your Business (KYB) checks.
• Sanctions screening against OFAC and other watchlists.
• Screening against Mastercard MATCH file.
• Non-profit entity status verification.

To comply with the onboarding review process and completion of the checks above, data integrity and accuracy of the following data fields are vital to avoid unnecessary pends or account holds within the Platform or its associate processor.

This is a description of the business information collected on the application:

To ensure smooth and accurate onboarding, it's essential to provide detailed business information. This includes the legal business name, DBA statement descriptor, taxpayer identification number (TIN) type and number, business type, contact fields, business address, country, industry, business established date, average transaction amount, annual processing volume, website, and business phone number.

Each of these fields helps verify your legal business entity's information:

• Legal Business Name: Input the business IRS legal filing name. Ensure the legal business name entered matches the name registered with the secretary of state and the IRS. For accuracy, merchants should refer to form SS-4 or tax filings obtained from the IRS (or their regional government tax authority).
• DBA – Statement Descriptor: Optional, but recommended, input the name that will appear on the end customer statements when payments are made.

• TIN Type:  Select either SSN (Social Security Number), EIN (employer identification numbers), or other for the TIN type dropdown. EIN is the most common type, which is the employee identification number, even if the business does not have employees, issued by the IRS.
• TIN or EIN: Input the 9-digit identification number issued by the IRS for the type of taxpayer identification number selected above.
• Business Type: Input the business type from the following options:
  • Sole Proprietor: Private, not publicly traded.
  • Corporation: Private, not publicly traded.
  • Corporation: Public, publicly traded.
  • LLC: Private, not publicly traded.
  • Partner: Private, not publicly traded.
  • Non-profit: Public
  • Government: Public
• Contact Fields: Input the MOR business phone number, business email, business website, and customer service phone number.
• Business Address: Input the MOR physical business address, city, state, and zip code. P.O. Box addresses are not acceptable for any entity type.
• Country: Input the country of residence. Currently, acceptable countries are the United States or Canada, if approved.
• Industry: Select the industry the merchant of record is classified under and processes for.
• Business Established Date: Input the date the business was established.
• Average Transaction Amount: Input the average processing transaction amount. This is the average dollar amount of one transaction or payment made by a customer.
• Annual Processing Volume: Input the estimated processing volume for transactions to be processed through Payrix Pro for the merchant for the year. This is the estimated dollar amount of the total annual payment volume for e-commerce and terminals.
• Website: Ensure the merchant website URL is provided. This is required to approve eCommerce merchants. If no website exists, enter http://nowebsite.com.
• Business phone: Ensure a 10-digit phone number is entered with no leading country calling code because a leading country calling code can cause boarding failures.
  • Example:
    • Do: 800-111-1111
    • Don't: 1-800-111-1111

These collected details are necessary for establishing and maintaining a merchant account in Pay as they help us verify your compliance on the platform.