For the company in the extended warranty business, the obstacles can appear endless. Trying to obtain safe payment processing services is one of the biggest obstacles of all. Why is it so difficult for these businesses to get off the ground? Their typical categorization of being “high risk” tends to make the task complicated.
Traditional financial institutions shy away from extended warranty companies due to above average chargeback ratios. A high level of customer disputes is also a huge problem for financial institutions or any other low risk merchant service provider. When you add high tickets and irregular expenses, trying to apply with a traditional lender quickly becomes a never-ending game of hot potato.
The Benefits of Choosing a High Risk Provider
- Many high risk providers are willing to work with you even if you’ve been placed on the Terminated Merchant File, or MATCH List. A traditional lending source, on the other hand, will not touch you if you’ve been placed on this list.
- Despite having little to no credit card processing history as a new merchant, a high risk provider is still happy to work with you.
- If your business venture did not go as planned, a high risk provider is still willing to work with you, even with a bad credit history.
- While high returns and chargebacks make traditional lending sources shy away, high risk specialists offer services specifically tailored to meet your unique needs.
- For any issues that can – and will – arise, you have an expert support team to help you.
Extended Warranty Merchant Account
Securing an extended warranty merchant account can do more than just provide you with payment processing solutions; your business can also access a unique set of solutions. From new technology to effective tools, your business can secure the help it needs to thrive and grow for many years to come.
With eMerchantBroker.com, an extended warranty company can secure an account that meets the specific needs of the industry. The application process is fast, simple and hassle-free. Once the application has been received and approved, the merchant account can be set up in as little as three days.
In addition, merchants can take advantage of effective tools like chargeback shield and fraud prevention programs. Merchants are also offered competitive rates and multiple secure payment gateways. If your business offers extended warranties, consider what an extended warranty merchant account with EMB can offer your business. Take advantage of payment processing solutions tailored to meet your business’ specific needs.