Understanding Your Merchant Name vs. Account Name
When setting up merchant accounts and handling transactions, it is important to consider the merchant account name versus the payment account name(s).
The merchant account name is a key identifier visible to users and external parties. It appears:
- On NoFrixion statements
- As the payer name on other banking portals
- On payment confirmations
- During Verification of Payee (VoP) checks
- In the top-right corner of the platform when logged in
Note: the merchant account name will consistently appear across all transactions, regardless of the originating payment account.
Merchant Account Name on Statements
The merchant account name appears on NoFrixion statements.
For example, the merchant account name ‘BucketHats Ireland LTD’ appears on the NoFrixion statement, with the payment account name displayed underneath ('Kate Demo Account'):
Merchant Account Name on External Portals
The merchant account name appears as the payer on other banking portals and NoFrixion payment confirmations, regardless of the originating payment account. It will also appear for Verification of Payee checks.
For example, 'BucketHats Ireland LTD' is shown as the payer name, rather than 'Kate Demo Account':
Example of Payments from Different Payment Accounts under the Same Merchant
Remember that regardless of the originating payment account, the name that will be displayed is the merchant account name.
For example, in the screenshot below, there are multiple transactions involving 'BucketHats Ireland LTD' merchant; from different payment accounts but within the same merchant account.
Transaction 01:
- IBAN: DK1589000055672537
- Payment Account Name: not shown
- Merchant Name: BucketHats Ireland LTD - shown
Transaction 02:
- IBAN: IE31NFXN91000167570501
- Payment Account Name: not shown
- Merchant Name: BucketHats Ireland LTD - shown
Verification of Payee (VoP)
If you would like the payment account name (instead of the merchant account name) to appear to customers during Verification of Payee checks, please contact support@nofrixion.com and we can check about updating this for you.