A new digital merchant application process which Trust Payments launched a year ago has resulted in double the amount of new merchant applications for Trust Payments’ commercial partners who are making use of the service.
The company launched the new online system in June 2020 to enhance the merchant onboarding process and grow its commercial partner programme. The portal has an easy-to-use interface which can be used on desktop, mobile or tablet, either directly by the client or by the merchant. It offers a fast application process with an emphasis on customer experience, using a chatbot which can pre-fill and verify information and KYC done in real-time using the device’s camera.
The digital application process is offered to commercial partners in conjunction with a portal, giving rich insights so they can easily track the progress of their merchants’ applications and performance with Trust Payments through real-time data. The portal also offers marketing tools and technical support, including an AI-powered chatbot, tailored to the partner.
Jonathan O’Connor, Chief Commercial Officer stated: “Our business model relies on a number of global commercial partners. We set out a year ago with a project to make it easier for them to market our services and onboard merchants into new territories or specialised industry verticals. The project has been a phenomenal success, resulting in a 98% increase in the no of applications, an 81% increase in new merchants and a reduction in the time it takes to complete merchant onboarding from two weeks to just 48 hours on average. We encourage all of our partners to make use of this tool and see their applications shoot through the roof!”
The project has also received excellent customer feedback from end users, with over 90% of users surveyed completing a feedback agreed that the new MAF was easy and intuitive to use, and over 90% agreed the amounts of information requested were reasonable.
We are currently accepting applications for merchants processing in the EU via the digital form, which is available in English. German and Dutch languages. At the beginning of June, we will launch the option to apply for merchants processing in the United States. The form can be accessed via the Partner Portal, which each commercial partner is given access to when they work with Trust Payments.
