National Merchants Association, a leading merchant advocacy group and payment processor, announced the launch of a partnership with its new sponsor bank, Evolve Bank & Trust.
National Merchants Association, a leading merchant advocacy group and payment processor, announced the launch of a partnership with its new sponsor bank, Evolve Bank & Trust.
The sponsor bank is a key component in the payment process, responsible for transmitting funds to the merchant and the processor, as well as compensating the card brands; so upgrading the sponsor bank relationship has significant benefits for NMA members.
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NMA’s Vice President of Risk and Underwriting, Aran January, explained that partnering with Evolve will speed up the boarding process, as well as allow NMA to process payments for a broader variety of products, services and business models. “Our members have asked for faster boarding, five-star service, and increased support for innovative new business models, and we look forward to delivering on those promises through this new relationship,” January said.
The choice of Evolve comes after several months of meetings and discussions with top banks to determine which would be the ideal fit for NMA’s unique merchant base.
“We appreciate the partnership of Evolve in working hand in hand with our underwriting team to support the requirements of our merchants,” said January. “NMA is committed to providing flexible solutions that maximize opportunity for our members.”
“Merchant advocacy is in our DNA, so it’s critical that every partner we work with have a true understanding of the needs of our merchants, and a commitment to their ongoing success,” said NMA CEO, Heather Altepeter. “We are confident that Evolve Bank & Trust is the best partner to help us deliver on that mission.”
