Merchant Account for Debt Recovery
It is not easy to set up your business as you become accountable for a number of things. From maintaining overhead costs to handling customers' payments, starting up a business is full of responsibilities. As a business owner, it is essential for you to figure out an affordable and convenient method to handle payments from your customers. Regardless of the type of business you have, the very first thing you need to do is create a merchant account so that your clients can easily access your company. A merchant account for collection industries is a bank account that enables companies to receive payments using several methods, most often via credit or debit cards. The account requires an agreement between the merchant acquiring bank and the acceptor regarding the settlement of transactions.
Accounts for Collections Merchants
The online merchant is somewhat identical to a merchant at a regular store, but the difference is that instead of working at a storefront, the online merchant operates an entirely online business. These merchants are responsible for a number of things, from supervising financial transactions to managing the inventory of the store. Their duty is to buy the items needed for the shop as well as to promote the products. Basically, online merchants are accountable for all the items that leave and enter the store. Moreover, they must make sure that their online market is fully stocked and items are always ready to send.
With a myriad of responsibilities, it becomes challenging to keep track of the payments received from customers. That is why having an online merchant account is crucial. Our company allows you to create a merchant account that accepts electronic checks, ACH processing as well as credit cards so that you can process online payments. Funds can automatically be deposited into your merchant bank account. Whether your business is based on the small scale or medium scale, our solutions can greatly save your time and money as well as reduce your responsibilities. In addition to this, you can set up various user accounts with authority to control access and retrieve the information regarding your processed transactions for reporting.
Merchant Account for New Businesses & Startups
Since we have been working in the field for many years, we are aware that starting out as a new business venture is very tough and requires a lot of guidance, especially regarding merchant accounts. Here is what you need to know about the requirements of a merchant account.
First and foremost, to get approved, you need to show your business documents that will prove that you and your business are legitimate and not based on any fraud. These documents include a form of identification, business license, a bank letter and a voided check from your business bank account. Since most account providers look for financial stability before offering a merchant account, you should share your financial documents with them as well. If your business has a strong balance sheet, make sure you leverage it to attain the best possible terms.
For the startups that move a small volume of transaction, the risk factor is quite low and they are easily approved. However, if your company is moving significant sums, you will be required to present records of your processing history. Regardless of the type of business you own, a processing history of the past three months will prove to be beneficial.
To get a merchant account, you must show that your company is trading with lesser chargebacks and that it is a successful startup. Last but not the least, your processing statements should consist the details regarding the number of chargebacks, total transaction volume, the monthly number of transactions, total chargeback volume, total refund volume and the number of refunds. To ensure your venture runs successfully and smoothly, you must let the providers know what your business actually does. It is encouraged if you personally reach out to them and address your needs.
Services for all Business Ventures
Our team is capable of working with large and small businesses as well as brand-new and well-established ones. Since we are aware that established and old businesses have some unique needs such as the amount of money they need to stay competitive in an ever-growing market, we make sure to work out an agreement that will perfectly meet your requirements.
Furthermore, our company has both offshore and domestic credit card processors. Domestic processors have lower rates and are more preferred when considering security, but for some business types, offshore processors might be required.
With our service, you can secure lower rates than what you are currently paying and get the equipment you want to process transactions in a secure and easy way. We guarantee to assist you, whether your industry is high risk or low risk. Over the years, we have successfully found reliable and inexpensive processing accounts for several companies, including the most difficult ones such as bankruptcy attorneys, debt collection, billing systems for agencies, real estate companies, payment providers, loan modification services, consumer and commercial companies, foreclosure services, and legal firms.
Merchant accounts for collection agencies can be very difficult to obtain, but thanks to our risk-free and hassle-free application process, you can achieve a quick turnover time and begin processing in twenty-four hours. Our services are simple and can be availed by all merchants, whether their business is a brand-new startup or a well-established, smoothly running one. Services include domestic as well as off-shore processors. We do not deduct any cancellation or application fee, which means there is no risk involved when applying for a merchant account. Our company offers all types of high-risk merchant accounts as we are aware of the complications of starting a business and building a trusted relationship between the provider and the business. Any merchant who desires to maintain a low number of chargebacks and utilize card-swipe services can benefit from us as we can help your business rise.