No it is not necessary to submit processing history. However it truly helps if the merchant provides the processing history. The processing history helps the merchant acquirer to understand few fundamental factors these are listed below.
- Expected sales volume. This helps to understand how much business the merchant will bring in
- Chargeback ratio/Return Ratio . this helps the payment gateway company understand how risky the account is and how risky it can get.
- Types of transaction. Most history documents will display the type of card brand or AMP method used. This helps the acquirers determine the forecast for specific card brands.
- Average ticket size. The process can also check whats the average transaction value is.
In a nutshell you must share the processing history if it is available.