What is meant by 'Boarding' in the context of merchant accounts?

In the context of merchant accounts, "boarding" refers to the process of onboarding new merchants into the payment processing system. This involves a series of steps that include collecting necessary documentation, verifying the merchant's identity and compliance standards, and setting up their accounts to facilitate payment processing.

The correct answer emphasizes the importance of integrating new accounts into the existing system, ensuring that merchants are ready and able to accept payments as quickly and efficiently as possible. This process is essential for enabling merchants to take advantage of payment services and for payment processors to ensure they meet all necessary regulatory and operational standards before the merchants start transacting.

By focusing on the addition of new accounts, this concept highlights the beginning phase of the merchant relationship with their payment processor, which is crucial for the overall functioning of the payment ecosystem.