Merchant Acquiring - In development

What is Merchant Acquiring?

Moov’s merchant acquisition functionality allows your business users to accept payments through tap to pay, payment links, and QR codes. And with Jack Henry’s open banking solutions and Moov’s reconciliation-first infrastructure, your institution can automatically reconcile payments with accounting systems like QuickBooks and Xero. This enhances accuracy and ensures compliance while delivering a seamless experience for your business users.

In the meantime, you can explore our FAQ section for answers to common questions. Stay tuned—more updates and enhancements are coming soon.

FAQ

What platforms are supported?

Android and iOS will be supported for accepting card payments via Tap to Pay. Payment links and QR codes will be supported on Android, iOS, and the web.

Are all businesses eligible to accept card payments?

No, businesses that operate in certain high-risk or prohibited industries, such as cannabis dispensaries, are ineligible to accept card payments with Moov (or any other payments processor).

Is Merchant Acquiring exclusive to Banno Business?

No, Banno Business does not have to be purchased, but there will be some limitations for those non-Banno Business customers as it relates to user permissions.

Banno Business financial institutions will be able provide granular access to their merchant feature set.

Retail customers will not be able to provide granular permissioning. The admin will have the same permission as all of the users associated with the business.

Is Moov a payment facilitator for a specific payments processor?

Moov is a payment processor directly connected to the card brands with no middleware.

Who will handle disputes?

Moov will! Disputes will be managed directly in the app. Moov will provide first-line support for anything coming from the merchant. To limit call volume for disputes that must be escalated, we will leverage Banno ConversationsTM to ensure financial institutions’ in-house support teams can manage disputes promptly and effectively.

Can Moov work alongside a financial institution’s current merchant acquiring system?

It sure can! In fact, we actually expect that many small and medium-sized businesses will use more than one provider for accepting payments and meeting this need is highly valuable.

Is a business EIN or other merchant/business ID required for enrollment, or can consumers enroll without providing this information?

Businesses must provide key qualifiers such as an EIN, legal name, and other details to validate their enrollment.

Will Moov give SMBs a clear view of daily sales success?

Absolutely. The merchant overview serves as a snapshot of daily sales activities and the latest payments they’ve accepted. A quick tap of items in the Activity list lets them review details of every transaction, including any attempted payments that failed or were canceled.