Third-Party Payment Processors Policy
This Third-Party Payment Processors Policy Template addresses the contractual and/or deposit relationships of a bank, credit union, fintech company, or other type of financial institution with non-bank or third-party payment processors (TPPP) that provide payment processing services to merchants and other business entities.
Table of Contents
- Purpose and Contents – Topic 1
- Policy Statement – Topic 2
- Risk Management – Topic 3
- Risk Mitigation – Topic 4
- Due Diligence and Account Monitoring – Topic 5
- Audit Policy – Topic 6
- Staff Training – Topic 7
- Retention of Documentation – Topic 8
NOTE: This product is intended to be a supplement to a financial institution’s vendor management policy. For a complete solution, please refer to our Vendor Management Program Policy Template which contains the full text of this template in addition to other related regulatory guidance.
Recent updates to this product:
Joint Press Release – Agencies Issue Final Guidance on Third-Party Risk Management
This Third-Party Payment Processors Policy Template (approximately 12 pages) is available to purchase from BankPolicies.com in Microsoft® Word format.
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