Having facilities that allow your customers to pay for goods and services is vital. However, if you run a high-risk business and you have bad credit what are the chances of getting a merchant account? It is still possible to obtain a merchant account provider in these circumstances, it will mean turning to high-risk providers, but there are plenty of options open to you as a business.
Companies that provide a service to an exclusive adult-only market, pose as a high-risk business and is typical for many merchant providers to refuse an application based on the risk involved.
Couple this type of business with a bad credit rating and it might seem an impossible feat, however, you do have options. Finding a high-risk adult merchant account with a company that specializes in this field is important. One option to consider is to repair your own credit rating before embarking on a business venture to ensure you get the best deals possible.
It is also possible to obtain a merchant provider that will take the risk of a person with bad credit, too. It depends on the company you own and if the merchant account provider needs information about the business owner’s credit history. A limited company doesn’t require the credit file of the owner to allow an application to progress. However, if the business has a bad credit file then it will require a high-risk merchant account to consider the application.
Many adult-only business opportunities fall under the category of high-risk, from dating websites, and sex toys to adult-only content sites. If you have a great chargeback rate, then obtaining a high-risk merchant account is straightforward.
Even if you are looking to secure a high-risk adult merchant account, it is still possible to find a great deal with competitive rates and secure payment gateways.
Click on the button below to set up an adult merchant account today!