Collection Agency Merchant Account
Collection agencies will traditionally find it difficult to get an approval for a collection agency merchant account, be it business to business or business to customer. Itâ€™s the delicate nature of their transactions, which makes collection agencies classified as high risk. Even when such businesses are able to get the approval for a merchant account, they are charged exorbitant application fee in addition to high amounts of initial deposits, and also caps on the volume of business they can run online.
As a solution to the above mentioned problems, many big names in the industry have turned to high risk merchant accounts. Collection agency merchant accounts can effectively help you on a number of grounds. For instance, you will be charged a standard fee, and the amount of initial deposit will also be low.
Such accounts give collection agency a chance to look past how they are viewed in general by banks and other financial institutions, leaving them with time and resources to concentrate on their core business. These accounts are not necessarily offshore in nature; there are plenty of avenues where you can have them.
Why do collection agencies need merchant accounts?
Since every product and service has an online retail value, so does collection of debt. Colleting agencies need to partner with a reliable merchant account provider in order to offer to its customers the convenience to make online payments using credit cards. It is important to provide secured services to customers and at the same time manage the risk of defaulting. Many times when people donâ€™t have the cash with them or in their accounts, they tend to use credit cards, but if online payment facility is not provided to them, they forgo such opportunities.
Having a merchant account therefore becomes imperative. Moreover, considering that you might even be a new entrant in the market, it is going to be difficult for you to get approval for a high risk merchant account. Banks and financial institutions may not even read your application.
But, this is exactly where we come into the picture. You can get collection agency merchant accounts at AMSVL with any hassle. Discuss your business plan with us, and have your merchant account processed within days.
There are many advantages of using the AMSLV collection agency merchant account. Take a look at what we have:
Pay less for more
Since collection agencies are always perceived as high risk venture, getting a merchant account in the first place will be very difficult. Heaps of paper work and formalities will be required, and even after that there is no guarantee for having an approval. If in case an approval is issued, it will be charged exorbitantly keeping the business risk in mind.
But, with AMSVL, you can now get collection agency merchant account at standard prices.
Highly secured payment gateway
We understand that once you have given your customers a chance to have a merchant account, the next thing is to protect their information protected against online theft. For this, we have a highly efficient security system in place 24 hours of the day.
No caps on the number of transactions
Any conventional bank or financial institution will put a cap on the number of transaction they permit for a given merchant account. This is invariably put limitations on the growth of your business, leading to potential business loss. At AMSVL, we have no caps on the how many transactions take place per week or per annum.
You no longer need to settle for higher fee and higher service rates; with us you can enjoy a simple application procedure, and get started with a collection merchant account as soon as you wish.
For more on how we can help this happen, call us on 855-267-8472 or write to us at firstname.lastname@example.org