The Payments Association

FEBRUARY 10, 2025

The primary focus on monitoring master accounts leaves an oversight gap that can be exploited for illicit financial activities. Since vIBANs are often treated as extensions of master accounts rather than independent relationships, firms fail to apply appropriate risk assessment frameworks.

IBAN 88

IBAN AML Master Account Due Diligence 88

Nanonets

SEPTEMBER 22, 2023

Types of accounts payable reports include  invoice aging reports ,  AP trial balance reports ,  voucher activity reports , and  reconciliation of accounts reports. Using accounting software can automate the accounts payable process and generate reports automatically.

Accounts 40

Accounts Master Account Best Practices Reconciliation 40

PYMNTS

NOVEMBER 7, 2017

“After exploring and evaluating different products in the industry, we chose Citi’s Payer ID solution, which enables us to assign each buyer a unique payer ID number that is linked to Alibaba’s master account.

Payer 48

Payer Payment APIs and Integration Treasury Master Account 48

Exact Payments

NOVEMBER 8, 2023

Additionally, PayFacs can offer merchants a much simpler account onboarding process. When PayFacs utilize automated underwriting tools, they are able to instantly onboard clients under their master account through a convenient online onboarding process.

Facilitators 52

Facilitators ISVS ISOs Payment APIs and Integration 52

EBizCharge

NOVEMBER 12, 2024

In contrast, PayFacs streamline the process by directly allowing merchants to sign up for payment processing services without needing an individual merchant account from an acquiring bank. PayFacs aggregate multiple merchants under a single master account, making the application process faster and simpler.

Underwriting 52

Underwriting ISOs Risk Assessment Assessments 52