How to setup Thoroughbred Payments

How to setup Thoroughbred Payments

By choosing to integrate Thoroughbred Payments with your Prism Finance portal, you enable the following benefits:
  1. A PAY HERE button on each monthly Statement/Invoice sent which allows owners to easily pay the amount owed via credit or debit card;
  2. Invite owners to authorise you to charge their credit or debit card, or deduct from their bank account (Australia only), amounts owing on the due date of your Statement/Invoice; and
  3. Easily charge each owner who has signed up for Direct Debit, on the due date.
This partnership with Thoroughbred Payments is proven to improve your cash flow and reduce bad and doubtful debts.

We want to make it easy for you to sign up to Thoroughbred Payments and integrate that great service with Prism. To sign up to Thoroughbred Payments, please:
  1. Download and complete the Thoroughbred Payments New Merchant Activation Form
  2. Scan and email to Tanya Fullarton,
  3. Include a recent company Bank Statement and a Photo ID (e.g. driver licence).
Thoroughbred Payments have shared the following guidelines to completing the New Merchant Account Activation Form.

1. Ensure the form (agreement):
  1. Is filled out completely.
  2. Has been dated at the bottom.
  3. Is signed by a Beneficial Owner.
  4. To sign - you have the option of PDF e-signature; or you can print, sign & scan
2. Entity types:
  1. If the merchant is owned by a company, the Pty Ltd need to be entered in section 2 and the ACN (Australian Company Number) needs to be completed.
  2. If the merchant is not a company, the sole trader or partnership name needs to go into section 2. The entity name is the name the ABN is registered under.
  3. ABN needs to be completed for both Company entity or sole trader/partnership.
  4. A trust cannot legally enter into an agreement so cannot be used on the form. The trustee (usually a company) should be entered instead. If a trust, a trust deed must also be provided.
3. A Beneficial Owner details, identification and signature are required:
  1. A Beneficial Owner is someone who owns at least 25% of the entity owning the merchant facility.
  2. A director (who is not a Beneficial Owner) cannot sign the form.
  3. Beneficial Owner required identification is an Australian Driving Licence or Passport.
  4. Ensure that the Licence or Passport number is included on the form in section provided.
4. Proof of bank account is required:
  1. This needs to be a bank account statement which must include the entity name and details.

Tanya and the team at Thoroughbred Payments will keep us informed of your account and we can setup all the relevant integration with Prism.

If you have any questions, please ask. You can also contact Tanya Fullarton at Thoroughbred Payments on 0417 193 071.

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