How to Find the Best collection agency merchant account Provider for Your Collection Agency Business

Oct 26, 2013

A collection agency is a final defense against those that don’t want to pay their bills. Of course, there are also those that have gotten sick or injured and may not realize they owe who they owe. In any case, a collection agency is the last person on earth anyone wants to hear from, but without them, a lot of businesses would lose their shirts. Some in fact do, because of the loss of income from too many people.

  1. Begin your search for a collection agency merchant account at your bank. Take that information and compare the costs against what you can find online.
  2. Be sure those online merchant servicers are actually true businesses. If they are, they won’t mind providing a little information for verification purposes.
  3. Check with your local BBB to ensure there aren’t a large number of complaints against them.
  4. Ask around and look for reviews. Do something wild, and look on Angie’s List to see what reviews you can find for that company.
  5. Then see if they have a live chat and talk to their representatives or customer service rep., to get more information. Please don’t leave any stone unturned, for this is your business and you want the best that will help support your decision to open this agency.
  6. Having a merchant account will allow your business to be open all the time. Your clients will have the option to pay their bill when they can get to it, not just when your office is open.
  7. Having as many options as possible is the best way to run a business. When you deplete those options, you deplete the customers’ ability to take care of their bills on their schedule. Your doors may be open nine to five, but if they work, they’re at the job from 8 to five. Or worse, can’t get to you at all…. Ever. So don’t handicap everyone! Give them a chance to save what they need to fix.

Finding the best merchant account helps you with your business. Work smart, not hard. Put your plan together and then work the plan. The more you take care of your clients, the better they feel about you. A lot of collection agents come at people like they were just a number. The last time anyone checked, they still put their pants on one leg at a time, and most would love some respect for that. The realization that some are really mean happens, and that is when you defuse the situation. A lot of folks go on the defensive. But if everyone remembers that the collection agency can’t take their birthday away, things can actually get worked out. Ten dollars a month will still pay the bill down and make everyone happy.

So, if you just remember those few things and put a sign on the customer’s neck, that says ‘make them feel important, a lot more money can be collected into that merchant account every day. Good luck!!

  •  “Make them feel important” quote from Mary Kay Ash


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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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