The market research firm IBIS World reports that the debt collection industry represented a $13 billion market in the US as of May 2013. There are a bit more than 9.000 businesses in the industry that employ over 150.000 people. The majority of Americans use loans, credit cards, lines of credit to pay for their lifestyles. The overall household debt...
No matter you’re operating online or in a physical location using, by using Bitcoin you can enjoy significant benefits. These benefits can prove to be more significant than those associated with credit card services and other payment methods. So, it’s no surprise that many websites are now accepting Bitcoin as payment for the goods and services they offer. Moreover, the...
Payment processing is a crucial aspect of virtually any business. Fewer customers are carrying hard cash every day, which means that as a merchant, it is in your best interest to implement solutions that cater to cashless payments. A merchant account provider can, therefore, be your most valued business partner. But what happens when they decide cut ties with you?...
Every business strives to keep its customers as happy and satisfied as possible. In today’s digital world, part of that means giving them the chance to choose the payment option they want when purchasing a product or service. But, although ordinary businesses may have no problem accessing cashless payment processing solutions, high-risk merchants are hardly ever as lucky. Processors often...
The growing acceptance of the internet as a shopping tool is unlikely to slow down anytime soon. According to Forrester Research, the number of online customers will reach 270 million by the year 2020. This will apparently see the e-commerce sale value stand at a whopping $523 billion, representing a stark rise of 56 % in five years. Of course,...
In the payment processing world, some businesses and business industries are considered “risky.” If you’re one of them, you’ve probably already been turned down by a couple of processors. But, all is not lost. High-risk merchant account providers exist, and they’re out there ready to cater to your exact needs. That said, merchants seeking for high-risk payment processing typically have...
For obvious reasons, traditional money lenders are usually more willing to fund businesses that are least likely to fail. Nevertheless, just because a bank has labeled you “high-risk” doesn’t mean you can’t raise the capital you need. You still have several viable options, such as high-risk loans and merchant cash advances, grants from friends and family, crowdfunding initiatives, and of...
As a merchant in today’s world, the ability to process credit card transactions is critical to the survival of your business. For high-risk enterprises, however, this privilege doesn’t come easy. Every typical acquiring bank prefers to deal with merchants that won’t put their money at risk. So, if a bank considers you high-risk, it will be very reluctant to lend...
Being labeled “high-risk” when seeking credit card processing services may sound like a bad thing, but the situation isn’t that clear-cut. While many merchants crumble from the pressures of running high-risk businesses, some emerge against the odds and find success. What is high-risk credit card processing? Every business needs a merchant account to accept credit card payments. The cost of...
Running any business is never easy, but it can be especially challenging if you’re a high-risk merchant. Not only will funding from conventional sources like banks and investors be near-impossible to come by, but payment processing companies and insurers will also be reluctant to offer you their services. Moreover, you will be required to adhere strictly to any compliance requirements...
