No. Processing the AngelPay Member Application is a preliminary step to determine whether a company is eligible to be a Member of the AngelPay Foundation. The AngelPay Member Application is a much friendlier document than the typical merchant account application because the merchant application includes many questions that the banks require us to ask, which are not necessary during a preliminary evaluation. This approach simplifies the process and ensures that we don't waste anybody's time in cases where a company has a low probability of being approved by our underwriting department.
Some of the same information is required on both the AngelPay Member Application and the more comprehensive merchant account application, but they are separate documents. However, to make the process easier on our prospective AngelPay Members, if a company is approved to be an AngelPay Member, we automatically transfer the information from the AngelPay Member Application to the merchant account application prior to submitting it to our underwriting department.