Background Check Options
Each time you create a Legal Entity/sub-merchant, Worldpay performs background checks to assist you in vetting your client, as required by government and network regulations. In the following table, we offer three options or tiers for background checks: Basic, Premium, and Premium Plus. Each tier offers more in-depth information and/or analysis of the sub-merchant signing up for your service. While Worldpay requires this feature, in most cases, which tier you use is up to you, though Worldpay Underwriting may mandate a particular tier.
Anytime the checks result in an OFAC, MATCH, or watch list hit, the Legal Entity moves to the Manual Review queue automatically. For the Premium Plus tier, the Legal Entity can also move to the Manual Review queue based upon KYC scoring.
While Worldpay supplies tools to assist you in the underwriting process, Worldpay assumes no responsibility for underwriting your sub-merchants.
Comparison of Background Check Tiers
|
Feature: |
Basic |
Premium |
Premium Plus |
|---|---|---|---|
|
Instantaneous Onboarding |
Yes |
Yes |
Yes |
|
OFAC Check |
Yes |
Yes |
Yes |
|
MATCH Check |
Yes |
Yes |
Yes |
|
Card Brand Reports |
Yes |
Yes |
Yes |
|
KYC Information |
No |
Yes |
Yes |
|
Validation of Sub-merchant by Worldpay Risk Analyst |
No |
No |
Yes |
The following list expands upon the information shown in Table 1-1 to assist you in selecting the correct background check tier for your business.
-
Basic Tier
-
OFAC check performed
-
MATCH check performed
-
Submission of required sub-merchant processing compliance reports to the card brands on your behalf
-
-
Premium Tier
-
All items provided by the Basic Tier
-
Automated validation and scoring of fifteen (15) additional data points about the sub-merchant’s Legal Entity and Principal(s) (e.g., bankruptcies, liens, etc.)
-
Return of validation and scoring information to you to enable full validation of the Legal Entity and Principal(s) by you
-
-
Premium Plus Tier
-
All items provided by the Basic and Premium Tiers.
-
Manual validation by a Worldpay Risk Analyst of Legal Entity and Principal(s) who were not validated using automated methods (i.e., risk analyst performs a more in-depth analysis of available data in an attempt to validate the LE/Principal)
-
For more information on the legal entity processing and the Worldpay PayFac API, see the latest version of the Worldpay eComm PayFac Integration Overview Guide and the Worldpay eComm PayFac API Reference Guide. For more information on iQ, see the Worldpay eCommerce iQ Reporting and Analytics User Guide.