Just launched: Card acceptance | Moov

If you’re building a SaaS platform or any sort of business where customers need to pay online, the question of how to accept card payments is a familiar one. With this in mind, we’re excited to announce that Moov has launched card acceptance.

We’re a US-licensed Acquiring Processor on the Visa®, Mastercard®, American Express®, and Discover® card networks, meaning with Moov you’re as close as possible to the metal. Most companies you would look to for card payment processing are built on top of a processor they don’t own or control. We wanted to free your roadmap (and ours) from these scaled incumbents and build a processor that developers would actually love to integrate.

Building a new card acquiring processor from scratch is a big lift, and here are the highlights of what you can do with Moov:

Fast merchant onboarding

Moov is a registered payment facilitator (payfac) which means you can go live faster and offer card payments to your merchants in an automated way.

• Automated KYC, MATCH™ checks, and underwriting whether you use our API, SDKs, or prebuilt Moov Drops
• Industry selection automatically maps MCC, SIC, and NAICS codes, and other clever details to make signups delightful
• The collect-funds capability supports card payments and ACH debits in one unified system

Accept card payments

If you’re already integrated to Moov, adding card payments is as simple as setting up support for the card payment method.

• One API for all money movement, with payment rail-specific options
• Card payments settle next day to Moov Wallets** and can be sent to bank accounts with same-day ACH
• Link cards to accounts for card-on-file and recurring payments
• Customizable statement descriptors increase end-user recognition and decrease disputes
• Human- and machine- friendly failure codes help you know whether you should retry a payment or ask the buyer to use a different card
• Card type and issuer data are automatically populated on a linked card
• Issue full refunds (partial refunds coming soon!)
• Real-time monitoring to reduce fraud and risk

Monetize your payments

• Price your payments any way you like, including interchange-plus or flat-rate pricing.
• Take your fee as soon as funds settle rather than waiting weeks. Moov’s ledger does all the heavy lifting.
• Use transfer groups to split payouts or orchestrate complex settlement flows.

Why would we build a new processor?

Most systems we rely on to move and store our money were built long before the internet. More specifically, these systems were built before modern software development practices – like automated testing, CI/CD, and continuous integration. Moov connects directly to the payment networks via low-level protocols, with no intermediaries, to deliver you the functionality needed to move money from point A to B. Plus Moov was built on the bedrock of open source, like our ISO 8583 library, not closed-source black boxes.

We do this because we believe it’s key to helping our customers create a better user experience and bring that magic back to payments and financial services.

Card acceptance is only part of our mission to make it easier for developers to accept, store, and disburse funds all from one place.