Statement descriptors are the names that show up on bank statements. There are two of them for every store. The Shopper Statement Descriptor is what a cardholder sees on their bank or card statement after they make a purchase. The Bank Statement Descriptor is what your sub merchant sees on their own bank statement when a deposit lands. Updating these is a good way to cut down on confused shoppers and "I don't recognize this charge" disputes, so it's worth making sure they're clear and easy to recognize.
How to update the descriptors
In the partner portal, go to the Merchants tab and select the Accounts sub tab.
Find the legal entity you want and open it, then click the Stores tab.
Click the store you want to update. A side drawer opens with that store's details.
Stay on the Overview tab and scroll to the bottom to find the Statement Descriptors section.
Edit the Shopper Statement Descriptor and/or the Bank Statement Descriptor.
Check the preview under each field to see exactly how it'll appear, then click Save Descriptors.
A few things to keep in mind
The Shopper Statement Descriptor maxes out at 22 characters, and there's a counter above the field so you can see how many you've used. The Bank Statement Descriptor allows up to 140 characters, but a lot of banks cut long descriptions short, so put the most important part (usually the business name) at the front. The previews show the text in all caps because that's how most banks display it.
Use a name the shopper will actually recognize, like the name on the storefront or website, instead of a legal name they've never seen. Avoid stray punctuation at the end too. A trailing comma like "La Escuelita Bilingue," will show up on the statement exactly like that.
Changes apply to new transactions and deposits from the time you save. Statements that have already posted won't change.
If you have questions or the Save Descriptors button stays grayed out, reach out to the Valpay partner support team.