A Merchant verification resource in Finix's system represents a request sent to a payment processor to check the integrity of a given merchant. After performing a number of different checks, the processor will decide if a merchant is trustworthy enough to process payments.
Verification responses from Finix's API have three possible statuses: SUCCEEDED, FAILED, or PENDING.
A status of SUCCEEDED means that the merchant was successfully verified and is now ready to process payments.
A status of PENDING could mean a variety of things:
- The request is still being processed autonomously by the processor (should be completed within 30 minutes).
- The verification request has been flagged and sent to manual review. In manual review, an underwriter at the processor reviews the merchant's information. The manual review can take up 10 business days to complete. A verification in manual review will fail immediately in the Finix Dashboard.
A status of FAILED and can be due to a clerical error which, can be easily remediated and resubmitted. Some examples of clerical reasons are listed below:
- Need to provide owners SSN
- Error in request: bank routing number: US routing number must be 9 digits
- Address contains PO BOX
- Value is longer than the maximum length, dba Name should be alphanumeric with special characters space _ - & . ', and less than 40 characters
Merchant Verification in manual review
If the merchant verification is in manual review, follow the steps outlined below:
- Contact Finix Support via email or Zendesk ticket. Request to have any existing Merchant Verifications cleared. This process takes about 24 hours to complete.
- Identify the Merchant Verification response and correct the reason. See below for a full list of reasons.
- Create a new Identity with revised information.
- Submit a new Merchant Verification.
Reasons for manual review
- Business identity is confirmed at the input address
- Business identity is confirmed, but failure to verify all identify elements
- False positive on MATCH
- No updates to the business record in the past three years
- Nothing found to confirm existence of business
- Please send back with the principal's SSN
- Potential address discrepancy - the input address may be a previous address
- Retry - TIN and Name combination does not match IRS records
- Retry - TIN and Name combination does not match IRS records. Update legal name
- Significant contradictory findings or an OFAC match exists or only the input address and phone are valid
- Sub-Merchant provisioning application is in Manual Review. Please contact your RM for more details.
- The input address is a transient commercial or institutional address
- The input address may be invalid according to postal specifications
- The input address may have been miskeyed
- The input address returns a different phone number
- The input business address may be a residential address (single family dwelling)
- The input business phone number is associated with a residential listing
- The input name and address match a judgment and/or lien filing
- The input name and address return a different phone number
- The input name matches one or more of the non-OFAC global watchlist(s)
- The input name may have been miskeyed
- The input phone and address are geographically distant (>10 miles)
- The input phone area code is changing
- The input phone number and input zip code combination is invalid
- The input phone number is a mobile number
- The input phone number is associated with a different name and address
- The input phone number is potentially invalid
- The input phone number matches a transient commercial or institutional address
- The input phone number may be disconnected
- The input TIN is associated with a different business name and address
- Unable to verify address
- Unable to verify name
- Unable to verify name, address, SSN/TIN and phone
- Unable to verify phone number
- Unable to verify SSN / TIN
- Unable to verify zip code
Note: The processor may discover during the verification process that the merchant has previously conducted fraudulent business. In these cases, the verification decision is final, and the verification cannot be resubmitted. An example of fraudulent business is excessive chargebacks.