Today’s business market demands that merchants be able to provide credit card processing for customers. Unfortunately, high risk merchants have a hard time finding payment processors to handle their accounts. Most banks will outright reject high risk business applications. This reality seems backwards to high risk merchants as most provide critical services such as credit repair and debt collection. Now there are online merchants that will create accounts for high risk merchants no matter what their business.
eMerchantBroker.com (EMB) is one of a brand, new elite type of payment processor that supply vital services for businesses that need them, like collection agencies. Collection and debt agencies have been classified as high risk because it has been traditionally difficult to track down and collect money from debtors. Plus the industry is plagued by consumer complaints about unethical treatment and threats if consumers don’t pay.
In 2010 Congress passed the Dodd-Frank Act that created the Consumer Financial Protections Bureau (CFPB). The organization’s job was to monitor the activities of third-party debt collection agencies and create a database of consumer complaints. For the first time, consumers were free to register complaints about specific collection agencies and have them investigated. This new investigative entity has made many debt collection agencies re-examine their tactics, and has drastically reduced complaints.
This shift could further legitimize collection agencies in the eyes of the public and payment processors. But EMB knows that collection and debt agencies are legitimate businesses that deserve competent payment processing. We offer a 99% approval rate for all applicants. High risk merchants often get their businesses approved within 24 – 48 hours.
EMB gives merchants numerous services and benefits like chargeback protection, high volume solutions, check processing and more. Plus we offer an extremely fast setup process that has taken over the online payment processing industry.
Performing collection services may be complicated, but attaining payment processing should be easy. If you have a collection agency or any other type of agency, turn to the experienced payment processors of eMerchantBroker.com for help. EMB is the preferred processor for Industry Leading Collections Software and Collections. Start your collection agency merchant account application now.