Do you have a great idea for a business, but have not been able to find credible payment processors? Has your business been labelled too “high risk” for banks to even consider? Now high risk businesses have the opportunity to expand their client base by accepting additional types of payment from their customers by setting up high risk merchant accounts. What is a High Risk Merchant Account? A high risk merchant account is a special type of account assigned to merchants whose business is classified as “high risk.” These types of businesses include: online dating, online gambling, adult content websites, […]

The economy is seeing signs of improvement and this is positive for businesses all around the world. It means more money spent on items by consumers and this is positive. However, with the increase in the ability to purchase items online, this means the use of paying by cash is no longer the top option in paying for these goods and services. When the economic downturn happened, it had a knock-on effect on obtaining credit. The rules and the regulations tightened, subprime leading should not occur, the risk is too great. However, the future is looking brighter in terms of […]

Are you worried about being approved for a high risk merchant account due to bad credit? Fortunately, merchant account processors are typically lenient when it comes to bad credit. There are options that you can consider in your hunt to find the merchant processor that suits your needs. The first aspect of receiving a high risk merchant account depends on the nature of the business industry that you are involved in. If your business is in a high risk industry, your credit score will fall under even greater scrutiny than that of a merchant in a low-risk industry. There are […]

Every merchant needs a credit card processor, however if your business is in the dreaded “high risk” category, it can be hard to find a processor. However, it is not impossible, and there are companies that specialize in high-risk merchants. The high-risk label can deter many processors. The name does not necessarily mean that the company is doomed; the label simply means that these businesses are at a “higher risk” of fraudulent activity, compared to other businesses. High-risk businesses are average, ordinary businesses, such as car dealerships, dating websites, and e-cig vendors.  High-risk businesses are businesses that are up and […]

The latest Equifax National Consumer Credit Trends Report shows that credit card balances increased for the third consecutive month in January. This is the first time an increase was reported in the past three years. Equifax uses advanced analytics and proprietary technology to produce data for businesses and consumers about credit trends. The latest data provides information about bank-issued credit cards, retail-issued credit cards, and home finance. Bank-Issued Credit Cards Total outstanding balances for bank-issued credit cards in January was $555.4 billion. Bank-issued cards also recorded a number of outstanding loans at $315 million—the highest since October 2009. Reports from […]

The Chicago-based ISO that is Payline Data have recently announced their wishes to attract small businesses to its long list of merchant services clients. They believe that the software-based card acceptance app with its “no swipe” mobile payments service will strongly appeal to those businesses who accept less than 10,000 payments each month. Payline Data has become an early participant in Flint’s partner program. Flint prides itself on offering mobile point of sale acceptance – but how? The smartphone’s camera scans an image of the payment card, differentiating it from other vendors that rely on the hardware document known as […]