- Customer-First Support
- Step by Step Updates
- Merchant Guidance
Overview
One of our merchants, an aesthetics clinic, reached out to inform us that they were changing their business structure from a sole trader to a limited company. As part of this transition, it was necessary to update their details with the merchant bank to reflect the new company structure. We knew straight away the merchant also needed a new Merchant ID (MID) created under the limited company and informed them that they would also need to update their bank details.
The merchant was understandably keen to ensure this transition would not disrupt their ability to process card transactions or receive funds. They wanted to make sure that everything was transferred smoothly and accurately.
Our Approach
We aimed to support the customer through this process with minimal disruption to their operations. Our plan involved:
- Collecting the new limited company documentation from the merchant.
- Liaising with the bank to update the business type from sole trader to limited company, generate a new MID linked to the new company structure and update the settlement bank details.
- Keeping the merchant updated at each step to ensure transparency and peace of mind.
The Outcome
After receiving the necessary documentation from the customer (including proof of incorporation and new bank details), we promptly engaged with the bank to initiate the required updates.
We first arranged for the creation of a new MID under the limited company name. Once this was generated, we verified that the merchant’s new account information matched the business registration.
We then worked closely with the bank’s onboarding and support teams to ensure the MID and bank detail updates were implemented accurately. Throughout the process, we maintained regular communication with the merchant, providing updates on progress and confirming once each step was complete.
The customer expressed appreciation for the smooth handling of the transition and was pleased with how quickly everything was updated. Importantly, there was no disruption to their payment processing or settlements during the changeover.
This case demonstrates our commitment to supporting our merchants not only during day-to-day operations but also during more complex business transitions. By acting promptly and coordinating closely with the bank, we ensured the merchant’s switch to a limited company was handled smoothly and professionally.
The result was a seamless transition with no interruption to services and a customer who felt confident and reassured throughout the process. This case highlights the practical value and reliability of our ongoing support, especially when our merchants face important changes in their business journey.
