TabaPay Payment Processor
LoanPro is integrated with TabaPay, a credit card processor. TabaPay's competitive advantage over other credit-card processors is that they can often process credit transactions through debit channels, making the transactions cheaper.
Getting Approved with TabaPay
If you would like to use TabaPay as a payment processor, you can initiate the signup process by filling out the form here. This will send TabaPay your basic information. Payment processors do their processing through an ODFI (originating depository financial institution, read "bank"). The ODFI will have certain criteria you must meet in order to process payments. Because of this, there is a 2-4 week underwriting period, during which you will need to submit documentation about your business to TabaPay. Unfortunately, there is nothing LoanPro or TabaPay can do to speed this process, because it is a requirement of the ODFI.
Setting Up the TabaPay Integration
Since LoanPro uses Secure Payments (formerly PCI Wallet) for payment processing, you can set up a new TabaPay processor in either LoanPro or Secure Payments. To create a new credit card processor, navigate to Settings > Company > Merchant > Secure Payments in your LoanPro account.
Navigate to the DEBIT/CREDIT CARD tab.
Click Add Processor.
From the "Processor Type" drop-down, select TabaPay and enter the information from your TabaPay account.
- Processor Name - This is a name you will assign to this processor to distinguish it from other TabaPay processors you may create.
- Client ID - This is your client ID with TabaPay (e.g. jNNiQsqTOBdOnyDkvxop)
- Settlement Account - This is the ID of the account to which funds will settle. This ID will come from TabaPay (e.g. DAuNqxRWf70D9A)
- Bearer Token - This is an authentication token given to you by TabaPay (e.g. A8f3lfDBz9EFsc23dkxeL24FaN)
Once you have entered this information, make sure the settings are correct.
- Bypass Processing - If set to yes, payments processed with this processor will get logged in LoanPro, but won't get sent to TabaPay.
- Default - If set to yes, this processor will become your default credit/debit card processor.
- Auto Reversal - If set to yes, charged-back payments will automatically be reversed in LoanPro.
Once the information is entered and correct, click Save.
You will now have the option to process payments using TabaPay.