We have been discussing about various points of view of the high-risk merchant account business for years and have almost sure reached on most, if not all, of the most decisive issues. Here are some more advices on high risk merchant account.
High-risk merchant accounts are a subset of financial services that allow companies to receive card payments from customers. Credit card processors assign merchants to one of two categories: high risk or low (normal) risk, based on a number of factors. High-risk merchants face reduced options in processors, plus higher fees and strong binding contracts. Being considered as high-risk looks terrible. But in some cases, it can be your best option.
It’s practically not possible for commerce merchants to work without having enabled as payment type the credit or debit cards. Before you can take “plastic,” you need a payment service provider who acts as a liaison between you, banks, and credit card networks.
Lots of financial service providers do business only with with low-risk businesses, who they see as a low risk investment. That means businesses considered high-risk will have a very poorr selection of potential payment services to choose from. Any processor you approach will take a careful, detailed look at your business to determine if you fall under their definition of “high risk,” based on the financial risk your company represents.
Here are some high risk credit card processors : Cayan has a reputation for helping businesses develop more meaningful customer connections through cutting-edge payment solutions. They’re also known for reasonable pricing, and not requiring an early termination fee (ETF).
Founded in September 2018, Card Z3N is a Las Vegas-based merchant account provider that serves both standard-risk and high risk merchant sectors. The company offers a wide range of retail and e-commerce solutions for most business types, including adult, auto parts, collections, credit repair, diet programs, e-cigarettes, electronics, extended warranties, fantasy sports, financial services, firearms, online furniture sales, multi-level marketing, nutraceuticals, online gaming, precious metals, self storage, and travel.
We used all of the high risk credit card processors, to be able to compare and our pick was HRMA-LLC. They cover all business types, have a large experience in the business, fast customer support and low fees.
Do you have a business related to collection agency & debt collection ? HRMA-LLC can help you. See more details at High risk merchant accounts.