Some FiNet merchants processing through the Paya/Nuvei platform may receive notification of a change in the sponsor bank for their account. This is a legitimate communication from the processor but not a cause for concern.

Sponsor banks play an essential role in payment transactions, facilitating the transfer of funds and acting as a bridge between merchants, card networks and issuing banks. Beginning on September 30, 2024, Citizens Bank will take over this service.

FiNet merchants will not experience any changes in their day-to-day payment processing operations or their pricing structure. Furthermore, a merchant’s relationships with its current community banking partner and FiNet will remain unaffected.

Feel free to contact the FiNet customer support team at 800-487-5577 if you have any questions.