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First Atlantic Commerce — now operating under the PowerTranz brand — is not a Stripe or Square equivalent. You cannot sign up online in minutes and start processing. FAC is bank-led: you need an existing relationship with a partner acquiring bank before your merchant account application even begins. This guide walks you through every step, every document, and every decision point so you can reach the other side — a live merchant account ready to accept global card payments.
A First Atlantic Commerce merchant account is bank-led and compliance-driven — understanding the process before you apply makes approval significantly faster
A merchant account is a specialised type of business bank account that allows you to accept card payments from customers. When a customer pays by card on your website, the funds do not go directly into your regular bank account. Instead, they flow through your merchant account — held by an acquiring bank working with a payment gateway like First Atlantic Commerce (FAC). The acquiring bank takes on the financial risk and holds funds temporarily before settling them into your business account, typically within 1–3 business days.
First Atlantic Commerce, which now operates under the PowerTranz brand, works as a payment technology provider — not a direct-to-merchant aggregator. This is the critical distinction. Providers like Stripe, PayPal, and Square operate as payment facilitators (PayFacs): they aggregate merchants under their own master merchant account, which is why you can sign up and start processing within hours. FAC/PowerTranz provides the gateway infrastructure, but the acquiring relationship — and therefore the merchant account — sits with a partner bank. You need that bank relationship before anything else.
The FAC/PowerTranz merchant account application follows a structured, bank-driven process. Each step builds on the previous one — skipping ahead or attempting to approach FAC directly without a banking relationship will result in your application being redirected anyway. Follow this sequence to avoid delays.
You must have a legally registered business before any merchant account application can proceed. This means a company registration number, a formal business name, and a legal structure that partner banks can underwrite. Sole traders can qualify, but limited companies or LLCs typically face fewer complications during underwriting.
This is the step most merchants do not expect. FAC/PowerTranz works through partner acquiring banks — primarily in the Caribbean and emerging markets, including NCB (National Commercial Bank Jamaica), CIBC Caribbean, and other regional banking partners. Your merchant account is facilitated through your bank, not directly by FAC. If you do not already have a relationship with a FAC partner bank, this must come before anything else.
Once you have a business bank account with a FAC partner bank, formally request merchant services from your relationship manager or the bank's treasury and payments department. This triggers the FAC/PowerTranz onboarding conversation. The bank will ask about your business model, expected monthly processing volumes, and the types of cards you want to accept.
Your bank will provide the merchant account application form, which combines the bank's merchant services requirements with FAC/PowerTranz's gateway onboarding information. Complete every field accurately. Incomplete applications are the single biggest cause of delays — underwriters return them, and the clock resets. Attach every required document in full on first submission.
Once your complete application is submitted, it enters underwriting. Underwriters assess your business risk level, financial stability, compliance with card scheme rules, and the likelihood of future chargebacks. They will scrutinise your business model, cross-reference your stated volume with your bank statements, and evaluate your industry's risk classification. For straightforward businesses in low-risk categories, this typically takes 2–3 weeks.
If your application is approved, your bank and FAC/PowerTranz will issue your merchant credentials. These are the technical identifiers that tie your business to the payment gateway and enable transactions to be processed, authorised, and settled correctly. Store these securely — they provide access to your live payment processing account.
With your credentials in hand, you can now integrate the FAC/PowerTranz gateway into your website, Shopify store, or ecommerce platform. FAC/PowerTranz provides API documentation and hosted payment page options. Always test in the sandbox environment before switching to live credentials — catching integration errors in testing costs nothing; catching them in production costs sales.
Once you have completed integration testing successfully, switch your configuration to live credentials and process a real transaction to confirm the end-to-end flow works. Monitor your dashboard closely during the first 48 hours — the initial period after go-live is when configuration issues typically surface. Set up alerts for declined transactions, chargeback notifications, and daily settlement confirmations.
| Document | Required | Notes | Applicable To |
|---|---|---|---|
| Business Registration Certificate | Mandatory | Certified copies may be required — confirm with your bank | All applicants |
| Director and Owner Government ID | Mandatory | Passport or national ID; all beneficial owners with significant ownership stake | All applicants |
| Business Bank Statements | Mandatory | 3–6 months; must reflect actual trading activity and consistent turnover | All applicants |
| Business Model Description | Mandatory | What you sell, customer type, average transaction value, expected monthly volume | All applicants |
| Website and Checkout URL | Required if online | Live site with visible terms, returns policy, and contact details | Online merchants |
| Previous Processing History | If applicable | Demonstrates chargeback management experience — strengthens your application | Existing merchants |
The document quality rule for FAC applications: Underwriters cannot approve what they cannot verify. Submitting incomplete documents on first application is the single most avoidable cause of delay. Prepare your complete document pack before you request the application form from your bank — so when the form arrives, you can submit everything in one go and start the underwriting clock from day one, not day fourteen.
Most FAC/PowerTranz merchant account rejections and delays trace back to a small number of predictable mistakes. Understanding these before you apply dramatically increases your chances of a clean, first-attempt approval.
One additional mistake rarely discussed: understating your expected processing volume to appear lower risk. Underwriters compare your stated volume against your bank statements and transaction history. If there is a material mismatch, it raises questions about honesty and accuracy — the opposite of what you need to convey. State your realistic volume and let the underwriting process evaluate it on its own merits.
Before you request the application form from your FAC partner bank, confirm you can check all six of these boxes. Each represents a requirement that, if missing, will slow your application or cause it to be returned before underwriting even begins.
No. FAC (now PowerTranz) is a payment gateway provider, not a payment aggregator or PayFac. Your merchant account sits with an acquiring bank — FAC provides the gateway infrastructure. You must first open a business bank account with a FAC partner bank such as NCB or CIBC Caribbean, then request merchant services through that bank. The bank connects you to the FAC/PowerTranz onboarding process. There is no direct self-service application route that bypasses the acquiring bank.
For straightforward business applications in low-risk categories with complete documentation, underwriting typically takes 2–3 weeks from the date your complete application is submitted. This timeline extends if documents are missing, if your business is in a higher-risk category requiring additional due diligence, or if the underwriting team requests clarification. Submitting a complete, accurate, well-documented application on first submission is the most effective way to avoid delays.
First Atlantic Commerce (FAC) rebranded to PowerTranz. They are the same payment gateway provider operating under a new name. Documentation, API references, and technical specifications may refer to either name depending on when they were produced. If you have an existing FAC merchant account, it continues under the PowerTranz infrastructure. If you are applying now, your bank's merchant services team may use either name — they refer to the same system.
FAC/PowerTranz supports a wide range of business types, with approval subject to the acquiring bank's underwriting criteria. Standard ecommerce businesses, service providers, and established merchants in most industries are eligible. High-risk categories — including adult content, CBD, gambling, pharmaceuticals, and subscription models with free trials — typically require additional documentation, higher reserves, or may not be eligible depending on the specific bank's risk appetite. Always disclose your product category accurately — undisclosed high-risk activity is the most common reason for post-approval account closure.
Whether you are applying for an FAC/PowerTranz merchant account or exploring alternative payment gateways for your Shopify store, CartDNA helps businesses navigate the right payment setup for their market and business model.
