What is a Merchant Processing Application (MPA)?
An MPA is the application merchants complete to apply for processing services. Similar to a contract or credit application, the MPA allows providers like National Merchants Association to learn more about prospective merchant partners/business owners and identify customized rates to meet their business needs.
A complete and correct MPA is crucial to merchant success because it comprises key information banks ask for before approving merchant accounts. Complete MPAs are also important because the more thorough and correct, the faster the account can be approved!
Most MPAs are relatively similar, but you can usually expect to find these sections on this form:
This section is all about the business. From its Federal Tax ID to the company’s DBA (doing business as) name, this area requires important information.
This section is all about the business owner(s). On NMA’s form, if an individual has more than 25 percent ownership, their information must be included on the form.
Merchant services providers have to know where to send your profits! We also have to be able to confirm that businesses are using legitimate bank accounts.
Service Fee Schedule
Here, you’ll find the rates you can expect to be charged for various services.