Merchant Guide

You will receive an email invitation to fill out the merchant application. Follow the steps below to begin your application. We suggest reading over Important Information Before Beginning Your Application ahead of time so you are fully prepared.

1. Click the link in the email and use the email address that the link was sent to as your username.
2. Click Register, and set up your password and log in.
3. Once you are logged in, claim your application and fill out all fields.
4. Make sure you have all documents needed, found in this section: Documentation Needed.
5. Make sure your Legal name, DBA name, business address, physical address, and tax ID are correct before submitting.
6. After you submit, download and save a copy of your application and your terms and conditions.

You will need a clear copy of your driver’s license/ID card AND one of the two following documents on hand to submit and upload with your application. Underwriting will only accept one of the documents exactly as described below.

• A printed voided check, noting the following requirements:
  • The name on the check must match the legal name of your business or the DBA.
  • Nothing is to be crossed out, e.g. address.
  • VOID is written in the middle so that account numbers, address, etc. all remain visible.
  • DO NOT HAND WRITE DETAILS IN PEN – ONLY THE WORD VOID WILL BE ACCEPTED HANDWRITTEN. ALL DETAILS MUST BE TYPED AND PRINTED ON THE CHECK.

OR

• A bank letter statement, noting the following requirements:
  • The letter must be printed on a bank letterhead.
  • The letter must be signed by a bank manager with their contact information, and include the business DBA or legal name, bank routing number, and bank account number.

• Most communication will be sent to you via email from
  payments@tapgoods.com and Underwriting request emails from Launchpay New Accounts portal. Please ensure these email addresses are on the ‘allowed’ list in your inbox and check your Junk folder often. These emails will come from no-reply@merchantapp.io.
• We recommend starting the application when you can use the same computer to complete it and can allocate 25-30 minutes to the process.
• We advise you to use a Google Chrome browser to complete your application. We also recommend using a private or incognito browser to eliminate errors.
• Please be sure to have all documentation ready to go prior to starting your application – documents as listed in the Documentation Needed section, taxpayer ID #, account number, etc.
• A secure link with instructions will be emailed to you and only good for one time use.
• If you need to pause the application and log back in later to complete the process, you must use the following link: http://merchantapp.io/tgpayments.
• If you have forgotten your password, please use the Password Reset button.

• Check your Launchpay New Accounts portal often for updates from the Launchpay Underwriting team. They will sometimes request additional information there. You will also receive email alerts so please check your junk/spam folder if you do not see anything.
• Provide all requested information as quickly as possible.
• Answer all questions as accurately as possible, i.e. average credit card transaction amount, average monthly processing volume, etc.
• Be aware that if you have your credit report locked for fraud or other reasons, underwriting will need to schedule a call for security purposes. Our goal is to keep you safe!

You will access your payments portals with the following details. All payment card transactions will be shown in the Launchpay Backoffice, and all ACHQ (digital bank/digital check) transactions will go through the PaymentKeys Portal.

Launchpay Backoffice – Credit Card Transactions

The login for this portal is the email address you completed the application with. You will gain portal access once your first transactions have been completed and will simply use the forgotten password option to reset your password and log in. You can access the portal HERE.

DOWNLOAD THE LAUNCHPAY BACKOFFICE GUIDE

ACHQ PaymentKeys Login – Digital Bank/Check

You will be emailed unique login credentials at the time of connection. Please login to the portal as soon as possible and update the login name (admin only) and password to credentials only you know. You can access the portal HERE.

You will incur processing fees from both Launchpay and ACHQ. Please see below for more information.

If you wish to change your bank account on file with Launchpay or ACHQ, you must fill out the form linked below and provide a voided check, signed bank letter, or three months of bank statements reflecting the new account information.

Once complete, please email the completed form and corresponding support mentioned above to payments@tapgoods.com. Our team will take care of it from there and confirm with you when the update is complete.

You can always view your bank account on file with Launchpay by navigating to Business Profile in your merchant portal. To view your bank account on file with ACHQ, please email payments@tapgoods.com.

DOWNLOAD THE BANK CHANGE REQUEST FORM

A chargeback, also known as a dispute, occurs when a customer (cardholder) challenges all or part of a payment with their card issuer, often for one of the reasons listed below. The card issuer immediately reverses the payment and creates a formal chargeback, refunding the chargeback to the customer and applying a chargeback fee to your account. You can dispute the chargeback, providing documentation that the payment was valid. If the payment is determined to be valid, the disputed amount is credited back to your account. If the chargeback is upheld, the cardholder’s payment remains refunded. Below is a helpful flowchart outlining the chargeback process:

Click Image to Enlarge

An ACH return occurs when the receiving bank rejects the transaction, and, just like a credit card chargeback, an ACH chargeback occurs when the receiving bank account holder disputes the transaction.

TapGoods will communicate via email to our clients when either of these occur. Unlike credit cards, ACHQ returns and chargebacks are more difficult to counter and typically require a business to work directly with their customers.

It is important to understand that excessive levels of ACH Returns and Chargebacks cost you time and money. All returned ACH transactions incur a $5 per transaction return fee and chargebacks incur a $25 per transaction fee, all of which can be found on our Payment Processing Fees page linked HERE.

Best Practices to Avoid ACH Returns

Below are some things you can check with your clients to prevent frequent ACH returns.

• Insufficient Funds: The bank account must have sufficient funds to debit the account.
• Correct Bank Account Number: The receiving bank will return an ACH transaction for an unknown or incorrect bank account number. Please confirm with your client that they input the correct account and routing numbers.
• Customer Advises Not Authorized/Stop Payment: You will want to communicate with your customer what will appear on their bank account statement. You will also want to ensure all services/products are rendered in a timely manner.

When you signed up as a merchant, Launchpay and their underwriters collected information such as your business type and processing volume to help assess what to expect from you as a merchant. As you grow, these things may change, and it is important to keep an accurate snapshot of your business. These reviews are an industry standard and in most cases, federally mandated. The intent of the review is to gather updated business information to support processing levels to protect everyone involved in the transactions.

Launchpay will notify TapGoods if a client has been triggered for a review. This can happen at any point during the life of your merchant account. TapGoods will then reach out to you with the requested information.

Depending on the reason for the review, Till may request one or all of the following documents:

• Recent bank statement(s)
• Prior year tax returns
• Previous or YTD financial statements, including balance sheet and income statement
• More information about your projected growth and volume in the next year

Once Launchpay receives the requested documents, they will contact us with any further questions or needs. It is common that they will have follow up questions to better understand the documents or request a second year of documents.

If Launchpay does not receive the documents requested, Launchpay may, at its discretion, limit your processing amount and/or hold reserves on your account.

While merchants are always monitored and reviewed for irregularities, you can do a few simple things to help mitigate requests. If any of the following instances apply to your business, we recommend reaching out to TapGoods to notify us so we can be sure Launchpay is aware.

• Processing volume spikes annually or semi-annually
• Income increases due to a new large contract
• Average dollar per transaction has changed
• Business type has changed
• Business information as changed (address, phone number, tax ID, etc)

The documents you provide are able to be submitted via a secure link provided to you from Launchpay. It is also important to note that there is a confidentiality clause in your agreement with Launchpay, stating they cannot share the information you provide. This ensures your information is protected at all times.

Finally, make sure to do your own periodic review of your merchant account terms and conditions to keep refreshed on what you’ve agreed to. TapGoods and Launchpay are here to support business growth while remaining secure and protected.

Please reach out to our Payments team at payments@tapgoods.com if you have any other questions or concerns regarding reviews.