Merchant Onboarding

Overview

The Merchant Onboarding, Underwriting & Support Specialist plays a critical role in onboarding new merchants into the payment platform, ensuring each application is fully compliant with card-brand rules, sponsor bank requirements, internal policies, and RPAA/AML obligations.

The role includes reviewing and underwriting applications, configuring merchant accounts in internal systems, maintaining complete audit-ready files, and providing ongoing support to merchants for account-related questions, documentation updates, and operational issues.

Key Responsibilities

1. Merchant Application Review & Underwriting (Primary Responsibility)

• Review merchant applications for accuracy, completeness, and compliance.
• Ensure adherence to: Visa, Mastercard, Amex, Discover, Interac requirements, Sponsor bank underwriting rules, RPAA, AML, KYC, and internal risk policies
• Validate and cross-check documentation such as: Legal entity documents, Authorized signer identification, Banking and void cheques, Governing body affiliation (provincial/state or national), Website and business model information
• Assign correct MCC and risk tier based on internal guidelines.
• Document all decisions, escalations, exceptions, and risk flags.
• Maintain audit-ready merchant files in accordance with internal compliance procedures.

2. Merchant Onboarding & Account Configuration

• Set up approved merchants in internal systems (account structure, terminals, users, deposit schedules, fees, etc.).
• Configure settings such as: Deposit frequency, User permissions, Reporting access
• Follow structured onboarding SOPs to ensure consistency, accuracy, and compliance.
• Ensure all onboarding steps and approvals are documented for audit and operational traceability.

3. Compliance Support & Internal Controls

• Assist with maintaining compliance registries, including: Document Registry, Exception Register, Training Registry, Merchant Review Register
• Support internal audits and sponsor bank reviews by ensuring files are complete, organized, and compliant.
• Notify Compliance of discrepancies, unsupported business models, high-risk attributes, or incomplete files.
• Help implement and maintain internal procedures related to RPAA/KYC updates, signer verification, and account changes.

4. Merchant Support & Account Maintenance (Ongoing Responsibility)

• Provide operational support to merchants post-onboarding, including: Assistance with early transactions and deposits, Guidance on reporting tools and daily reconciliation, Help with login, user setup, or account access
• Process merchant-requested updates such as: New signers, Banking changes, Contact updates, Legal name changes
• Follow strict verification procedures for sensitive changes (e.g., banking updates).

Qualifications

• 1–3 years experience in merchant onboarding, underwriting, KYC/AML, payment operations, or financial compliance.
• Strong understanding of compliance documentation (IDs, corporate records, banking documents).
• Ability to apply card-brand and sponsor bank rules.
• High attention to detail and accuracy.
• Strong communication skills, especially when requesting additional documentation or explaining compliance requirements.
• Tech-savvy and comfortable with operational systems.
• Bilingual (English/French) is an asset.

Key Attributes

• Highly organized and detail-oriented
• Comfortable enforcing underwriting rules and requesting required documents
• Strong problem-solving and analytical skills
• Process-driven and consistent
• Ability to juggle multiple active onboarding files
• Compliance-minded and able to detect risk red flags
• Clear communicator when supporting merchants

Job Type: Full-time

Pay: $65,000.00-$80,000.00 per year

Benefits:

• Profit sharing

Experience:

• payments industry: 2 years (preferred)

Work Location: In person