Whether your business classifies as low- or high-risk, it’s easy to apply for a merchant account through Instabill. By following a few simple steps and submitting some necessary documents, a payment gateway system can be set up and running quickly. After verifying that your business is in legal compliance, your customers can soon begin making purchases through your company’s website or while visiting a physical location.
The following steps will get your Instabill account up and running:
Website administration panel – provide a screenshot of the page.
Once your business’s website is up and running, Instabill needs to see a screenshot of the administration page or control panel. This is the page where you or your webmaster go to make changes or view traffic statistics.
The easiest way to take a screenshot using Windows 10 is by hitting the PrtScn button at the top of the keyboard, which is typically located near the F12 key. When the PrtScn key is pressed, an image of the active screen is saved to the clipboard. After opening an image or document editor, the key combination of Ctrl + V pastes the screenshot into the editor.
When a mobile device is used, pressing the home button while holding down the sleep/wake button at the top of an Apple device will take a screenshot. For an Android device, pressing the power and volume buttons or the power and home buttons simultaneously will save an image of the screen to the clipboard.
Submit an Instabill merchant account application
Instabill created an easy, streamlined four-step application process to learn who you are and how your business operates. By providing some details about your business and the products or services you offer, Instabill can determine which type of merchant account will work best.
Please provide your company’s name, your location and your personal contact information. Instabill will also need the website or URL through which your products and services are marketed. Submit an estimate of your monthly sales volume and your preferred currency. Instabill can process and exchange currencies from several different regions, but the most popular ones are the USD, Euro and British Pound.
Choose from the following options that accurately describe your business: Bank, Pharmacy, Reseller, E-Commerce, Adult, Gaming, MOTO, IPSP or Other.
Submit personal-identification documents
Under the USA PATRIOT Act, financial services providers must verify an applicant’s identity. Several types of documents can do this for you, such as a letter of reference from your bank or a monthly statement. If you have an established business relationship, a quick phone call to your bank’s branch manager should result in the letter of reference you’ll need.
A government-issued identification card or a passport is also required in order to complete your request to open a merchant account. To confirm your address, please submit a utility bill in your name.
Provide a short marketing and business plan
Successful business owners usually have a well-prepared strategy and are ready to capitalize on it before setting up a payments system. Instabill would love to see your plans, even if they fit into just a one-page outline. Creating a simple sketch of your marketing goals helps you prepare a budget for a pricing and positioning strategy.
A business plan doesn’t need to be lengthy or based on a long-term vision. A simple description of your ideal customers and the markets that you’ll be targeting with your ads will suffice for setting up a merchant account. Whether you plan to offer your products or services through social media posts or clever search engine keywords, a clear and concise description is all that’s needed.
Submit your business’s articles of incorporation and certificate of standing
If you created a corporate entity, Instabill needs to see your articles of incorporation. The state or jurisdiction where you set up your company should be able to provide you with a copy. A certificate that shows your business is registered and legally in existence is also required. Requesting what’s needed online through your state’s commerce department should get you the documents quickly.
For businesses set up as a limited liability company or sole proprietorship, providing the appropriate legal documents will be required for a merchant account. Some states require a sole proprietor or an independent contractor to register a fictitious business name. If you haven’t completed this process, you may need to first register your business with your local jurisdiction.
Provide a short history of your relationship with a prior credit card payment system.
Start-up businesses and other merchants that are considered high-risk because they lack a transaction history can apply for a merchant account through Instabill. Once the Instabill team understands your products and services, it can be determined which merchant category your business falls under. Businesses comparable to yours can be used to estimate your merchant requirements.
If you have a history of processing credit cards through another merchant service provider, Instabill would like to know about the relationship. By submitting at least three monthly statements, Instabill will gain an understanding of your transaction requirements and be able to better serve your needs.
It is not uncommon for a business owner to switch to another service provider because of high fees or other issues. Regardless of the reason, Instabill is committed to making your transition to our service as smooth and swift as possible.
A responsive account management team is standing by and ready to assist you. A team representative can answer any questions you have. After receiving the necessary documents, most businesses can be set up with a payment gateway within 72 business hours.
