Payment routing helps companies process payments and send payment funds to the correct bank accounts. Using merchant processor groups, you can group a set of payment processors together and assign them to any number of accounts. This group specifies which processor should be used to process payments of different payment methods. 
 

Creating a merchant processor group

To create a merchant processor group, navigate to Settings > Company > Merchant > Merchant Processor Groups. Click the ‘Add’ button.

Enter a title for the group in the 'Title' field, distinguishing it from your others.

From there, you can choose from the dropdowns which of your processors should be used to process different types of transactions. This includes payments in all three of our integrated payment methods—bank card, ACH, and EFT—both from borrower to lender (payments) and from lender to borrower (funding or refunds). You don't have to select a processor for every payment method.

When you're done, click ‘Save’.

Assigning a payment route

To assign a payment route, navigate to Loan Settings > Settings inside of any loan. Click the ‘Edit’ icon in 'Account Settings'.

Choose the processor group you want to assign for that loan by selecting it from the ‘Merchant Processor Group’ dropdown. When you're done, click ‘Save’.

We also recommend using Automation Engine to automatically assign processor groups.