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Transaction fees typically range from 3%-5% for high-risk businesses. Each merchant account provider will have a pricing structure for fees, which could include interchange-plus, tiered pricing, or flat-rate pricing. Also, each payment method will have an amount assigned as a transaction fee, with e-checks being the lowest.
What Is A Collection Agency Merchant Account: Merchant accounts for collection agencies furnish ownership the ability process payments directly from the debtors’ debit card, credit card, or high risk ach processing. Adding a recurring payment module to automate payment agreements, streamlines your internal processes and saves on labor costs ...
We offer debt collection agency merchant account services including collection agency credit card processing. Call Us Today (818)-825-7938; info@premieronepayments.com; ... Many credit card processors will not offer merchant accounts for collection agencies and will automatically reject any applications that they receive from debt collectors.
To apply and open an merchant account for your debt collection agency, follow these five easy steps: 1. Search For High Risk Payment Processors: High risk processors have experience making accounts in unique verticals. From adult streaming to firearms and CBD , these payment providers see every type of vertical, and find ways to give them the ...
While normal banks may simply view collection agencies as a high risk, there are merchant account providers, like Zeno Payments, that specialize in serving collection agencies. These banks are more than willing to provide credit card processing for collection agencies. Let us become your payment partner and we'll work with your agency to get ...
Collection agency merchant account categories. Each company is given a four-digit SIC (Standard Industrial Classification) code by their country. Codes label the business’ main purpose. Companies that provide collection services are part of the SIC Code 7322: Adjustment and Collection Agencies, if not one of the following:
Process Credit Cards 3 Ways In One. Process Credit Cards from any computer with Internet access through a Virtual Terminal. Collection Companies, Student Loan Processing, Medical Collections, Judgements, Commercial and Consumer, Tax Resolution, Credit Repair Financial Services, Attorneys, Consulting Firms. Industry leading customer support to ...
