Why is Debt Collection is High-Risk?
Fact is, debt collection enterprise is at extraordinarily high Risk, due to the enterprise’s traditionally high chargeback rate. The purpose for this is fold: (1) the inherent nature of the business is that humans are paying cash they’d as an alternative now not be paying. some of the ones people will always initiate a chargeback, and (2) a few debt collection corporations who didn’t recognize the way to manage chargebacks, or who weren’t operating with a informed high-risk processor and payment gateway that would assist them manage and avoid chargebacks, have given the complete industry a bad reputation. no matter all this, however, thankfully, there are nevertheless a few true alternatives.
OFFSHORE DEBT COLLECTION MERCHANT ACCOUNT SERVICE
Merchant Stronghold works with a number of processors and gateway providers with sponsor financial institution relationships that offer both domestic and offshore debt collection merchant accounts. we are able to offer credit card processing for debt collection companies under the following two options:
Requirements for US Debt Collection Merchant Account:
US-based company representative.
US-based company entity
US bank account Business operations can be global
DEBT COLLECTION BUSINESS BENEFITS:
Through our processing partners, we can also offer debt collection businesses the following additional benefits:
Expert in underwriting
Same day approvals
Compatible with E-commerce portal and major payment gateways
Acceptance Visa / MasterCard / American Express etc.
MOTO (phone / mail), eCommerce, and swipe accepted.