Is it okay to apply to many processors at the same time?

When I searching for payment processors I apply to all I find and see the outcome. Sometimes they are resellers for the same acquire so they will find out and tell you. But most often it works well.

What is your business?

jintr said:

So, is it okay to apply to different processors at the same time?

Sure, but keep it reasonable.

jintr said:

Do they have some kind of network that allows them to know if the same documents are sent for quotes to different merchant providers?

Processors can see if there are multiple recent applications by the same merchant. It's not universally available but enough processors have access to this data that it's worth keeping in mind.

But for legit business it may not be a issue at all? When I was out hunting down every single payment processor in Europe, many told me I already had a going application here and there but did not refuse to take over the application.

Some processors view it as desperation, which they can take to be suspicious (and decline) or see as an opportunity and raise prices.

From a point of view of how to operate I see it better to target a payment processor one by one at least when filing in an application. You should spend attentive time during your initial communications so that you understand before applying whether it is worth to apply and confirm that chances for approval are high. This way you also get the chance to correct your approach or understand better what your own requirements are.