We’re In This Together

RW Pay is obligated to protect you and the consumers you serve. For that reason, we’re required to have a thorough understanding of your business model, financial situation, and the potential credit risk.

Credit risk is the potential for monetary loss resulting from a business’ inability to remit refunds and chargebacks it generates back to customers it has accepted payment from.

Historically, businesses that accept payment far in advance of delivery of goods and services may be a higher risk for payment processors. To mitigate this risk, a business must provide documented evidence of its operational and financial strength, and its continued ability to support delivery of goods and services, refunds, and chargebacks.

Application Process

In order to apply for RW Pay, you'll be asked to submit some information about your rental business and the individuals who run it. This information is securely used to perform industry-standard identity verification. To ensure a fast and frictionless onboarding process, it’s important to input the information as accurately as possible.

Required Business Information

Additional Documentation That May Be Required

Depending on the volume you anticipate processing, the following financial documents may also be required.

  • Bank Statements: 3-6 Months of recent bank statements. These allow us to assess deposit and balance trends.
  • Processing Statements: 3-12 months of processing statements from your previous merchant account provider. This allows us to assess transaction volume and count as well as refund and chargeback trends.
  • Financial Statements: The most recent two years and year-to-date financial statements may be required including Balance Sheet, Income Statement, and Cash Flow Statement. A Deferred Revenue Report may also be required. These statements allow us to assess your financial condition and determine if the financial wherewithal is aligned with the credit risk you may generate.
  • Booking Report: an annual booking report may be required. This report typically includes transaction date, transaction amount, and date of services rendered.
  • Line of Credit/Debit Terms: you may be required to provide evidence of line of credit availability and/or term debt agreements. This allows us to assess your current debt obligations and cash availability.
  • In the event any information is unverifiable, the following documents may also be required:
    • Photo ID upload (for the Financial Representative and/or Owners)
    • SSN Card photo upload (for the Financial Representative and/or Owners)
    • SS4 letter
    • Articles of Formation
    • Registration documentation (verifying the individual on the application as a valid Financial Representative)

RW Pay is serviced by JustiFi Technologies Inc. In the application process, you will be asked to review and agree to JustiFi’s Terms and Conditions.


What are the benefits of using RW Pay?

Find out why Rentals Pros choose RW Pay, the Benefits of RW Pay, and about our simple Pricing & Payouts here.

What is a Financial Representative?

Typically, this is the owner(s) of a for-profit business. For non-profit organizations, this is typically a board member such as a president, secretary, or treasurer who is responsible for or oversees the finances of the organization.

Why can’t a PO Box be used for the address?

We need a physical address to ensure the organization/business is located and performing business within the United States.

Why does the Financial Representative need to provide a full SSN and date of birth?

  • The financial representative needs to provide this information for a federal OFAC check. The Office of Foreign Assets Control (OFAC) maintains watch lists for money laundering, fraud, and terrorist organizations; if the financial representative is on one of these lists, underwriting will fail and payments cannot be processed.
  • By providing this information for the financial representative, you are mitigating risk from potential fraudulent activity.
  • The purpose of these checks is to allow the US government to work with financial institutions to prevent identity theft, money laundering, the financing of terrorist organizations and activities, and other types of fraud.
  • You can find additional information here.

Can personal information be safely provided and stored with JustiFi?

Yes, JustiFi is PCI-DSS and SOC 2 compliant. This means that we follow the highest standards for the payment card industry for keeping card data safe and cybersecurity compliance to ensure all of your data is stored securely.

Do you perform a credit check with the SSN?

No, it is only used for the OFAC background checks.

How can I enable RW Pay within my RW Elephant account?

Simply apply through your RW Elephant account settings (instructions here).

If you have further questions about RW Pay or the application process, please reach out to our Client Success Team at help@rwelephant.com.

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