Finding a merchant account for your debt management business may prove to be a little tricky.
Why do I hear you ask! – well, this might be for a host of reasons.
Sometimes acquiring banks do not like the repetitional risk of being attached to debt management companies or sometimes they deem it to be too high risk for them to board as a merchant because of chargeback risk. As frustrating as this might be for your debt management business, if you are going to gain that merchant account you will need to speak to an expert that has a history of placing debt management firms with the correct acquirers who WILL approve your application.
Step forward – ePayment Solutions.
We are specialists in obtaining merchant accounts for high risk business, just like a debt collection agency. We have links with several acquiring banks that will accept your business on merit and approve your application for a merchant account, We have experience in placing several of the largest UK debt collection firms.
However – just like all merchant accounts, it’s very important to get the correct solution in place for you as a customer.
There are many other factors and variables that might be thrown into the mix whilst your application for your debt collection merchant account is being opened however we have tried our best to set expectations as per the above points.
If you have a debt collection business and you need help and support around setting your business up with a merchant account to allow you to accept card payments then ePayment would love to help you with a solution.
Why not start the ball rolling by submitting your interest by submitting the below form and one of our friendly team will be on hand to help.
Below are 10 things you should know or ask the provider about getting approved for a merchant account for your debt collection agency.
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