Disclosure
Our position, stated plainly.
Who is who, how we are paid, and what we ask of you.
Nothing on this site is an offer of acquiring services or an indication that any merchant will be approved. Paystrax decides, case by case, after underwriting and risk review.
Who is who
Three parties.
- MyPaystrax
- MyPaystrax LLC is a Florida company and an independent referral partner of Paystrax. It is not Paystrax, not a bank and not a payment institution. It does not provide payment services, does not hold or transmit merchant or cardholder funds, does not store cardholder data, and does not underwrite or approve merchants.
- Paystrax
- Paystrax UAB is a payment institution licensed by the Bank of Lithuania, and a principal member of Visa and Mastercard. It assesses each file, issues the commercial proposal, underwrites and onboards merchants, signs the merchant agreement, issues the merchant IDs, settles to the merchant, and provides support.
- Our role
- We qualify your business, prepare and send your pre-approval file with your consent, introduce you to Paystrax, and follow up while the file is moving. We make no representation on Paystrax's behalf, and nothing we say is a Paystrax decision.
Interest
How we are paid.
A referral partner has a financial interest in the introduction. You are entitled to know it.
- How we are paid
- MyPaystrax is compensated by Paystrax for merchants it refers. You should weigh what we say with that in mind. The fees you pay for card acquiring are set out in Paystrax's commercial proposal, not by us.
- What we do not do
- We do not guarantee approval, and we cannot influence Paystrax's decision.
Merchant requirements
What is asked of you.
A baseline. Requirements vary by sector and jurisdiction, and we will set out yours before you apply.
- An entity, or a paying agent, registered in the EU, EEA or UK.
- Corporate documentation, ownership structure and identification of beneficial owners.
- Licensing where your sector requires it. Onshore and offshore licences are both considered, and a legal opinion may be requested.
- Processing history where available, including chargeback, fraud and refund ratios.
- A website and checkout where the product, pricing, refund terms and company details are clearly presented.
- PCI DSS compliance appropriate to how your integration handles cardholder data.
Scope
What we cannot introduce.
Better to know at the start than after you have gathered the documents.
- Adult content and adult services.
- Illegal goods or services, and anything that facilitates illegal activity.
- Anything the card schemes prohibit.
- Businesses that process payments for other merchants outside the card schemes' programmes.
Data
What we hold, and why.
MyPaystrax LLC is the controller of the information you give us and is responsible for how it is handled.
- What we hold
- The business and contact information you give us: company details, sector, volumes, processing history, ratios and the contact details of the person we deal with. We never receive or store cardholder data.
- Why we hold it
- To assess whether your business is a plausible fit, to prepare a pre-approval file where you ask us to, and to keep you informed while the file is moving.
- Who else sees it
- Your answers are shared with Paystrax only with your consent, to request a pre-approval. Nothing is shared before you agree.
In summary
We introduce. Paystrax decides.
MyPaystrax refers businesses to Paystrax. We hold no licence, we take no custody of funds, and approval rests with Paystrax, the licensed institution that underwrites the account.
Anything we tell you about your prospects is our own assessment. It is useful because we know what Paystrax asks for, but it is not, and never represents itself as, a Paystrax decision.
Questions about your specific position?
Licensing, paying agents, jurisdiction, documentation. Ask us the awkward version of the question. That is the one worth answering.
No obligation.