Approval Rating for Collection Agencies Seeking Credit Card Processing

Nov 04, 2013


You have just stepped into the high-risk zone. No, there won’t be any strange music and no one will disappear into a new time zone. What you will find, is a great many high-risk merchant accounts servicers that can help you get a merchant account for your collection agencies. The positive aspects of having one are many, you shouldn’t operate without one.

Approval rating

Your collection agency is in good hands with most merchant account servicers. Of course, like anything, you will need to verify they aren’t fake and just there to steal your money. So, do your due diligence and be sure they are a REAL agency.

Next, apply for your merchant account. Most of the high-risk merchants have a 99% approval rating. The reason being, they work with high-risk businesses all the time. It’s not that they are ‘HIGH risk’; they are just working a business that may have a high amount of chargebacks, also known as refunds.

Not all do

Not all have that 99% approval rating. There are some merchant account servicers that will not bend over backward for a collection agency merchant account. They will indeed take the extra time to get the information about the new account and verify that you are in business and not fake. Those are the merchant account servicers that you want. They don’t sugar coat anything and they put their cards on the table for you to see.

Having one

Your collection agency merchant account is an awesome thing to have. It will free up many hours of work for you and give many options to your clients. It systematically applies twenty-four-hour payment times for all those clients that you have made arrangements with. When you are sleeping, they are making payments. Your office does not need to be a building with four walls and a roof. It can be a little office online with an intricately designed website.

Your clients have a safe haven with your virtual terminal to make payments that travel through a secure encrypted gateway to process their cards. Your money is deposited into an account that you can access anytime you darn well feel like it. You also can safely transfer that money to your account when you please.

With an account

You are safely ensconced in a secure merchant account that helps you with fraud protection, card protection and looks after your best interests with your account. They offer you the virtual terminal that gives you the button with payment processing for your website. That much security can’t be wrong.


So, take a little extra time to ensure that you have a legitimate merchant account servicer, and then take advantage of all their services. They will take good care of you and your account. It behooves them to cover your security because it helps their business as well. So take them up on their offerings. Help you help yourself, as well as your customers. Good luck!


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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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