Introduction –
One of the most important things that you should know being a credit repair business is that for accepting credit cards online, you require a truly trustworthy credit repair merchant account. Another important thing or news that you should know is that previous year, Payment Aggregators, which includes Stripe, closed down 1000s of merchant accounts in credit repair firms and the reason is as to how their business system work. Also, you will know that there are millions of merchants that work in one credit repair merchant account, balancing risk. So, the thing that was happening was that they were balancing the risk between pure ethical business owners with entrepreneurs who can commit fraud, launder money, and sell poor quality supplies, and simply close the doors before a customer asks for a refund.
Setting Up Quickly and Shutting Down –
Finally, what happens in such scenario is that, this permits the firms like Stripe to set up speedily, but also permits them to close you down. The issue is that they don’t know or understand anything about you when they set your firm or business. They don’t know who are you and what you are selling and how you are selling it. If they help you by setting you up and anything not so usual happens, like for example spike in chargebacks, then there are high chances they will close your account. Further, if your competitor does anything to trigger a flag in their business system, they look at the complete industry. And, due to no fault of their own, a misstep of the competitor can mean your account gets closed. So, how does a person’s merchant account stay stable?
Pivotal Element – Underwriting –
So, the crucial component is through underwriting. Our specialist underwrites your account so that they can understand your marketing and business model. This will allow them to match you with a back-end bank that works with your vertical. Also, it greatly lowers the chance of you ever having any issue. Besides all of that, when you sign up with them, you will have one dedicated point of connection, to use fraud protection services, recurring billing, mobile payments, integration, hosted checkout, combination with more than 250 shopping carts. They will work with you to enhance your payments for the lifetime of your account. Besides all of that, lessening your decline rates, so that you can enhance revenue, see your chargeback ratios, and assisting to lessen them and many more features are there. Some other important features are Transaction Routing, White Glove Service, Decline Recovery, Chargeback Mitigation, Hosted Checkout, Recurring Billing, Mobile Payments, 250+ Integrations, Banking for Nearly Every Vertical and Unlimited High Ticket.
