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In Merchant Services Since 2016 2016 2016

Get A Bad Credit Merchant Account That Is Reliable And Cost Effective.

You focus on business, and QuadraPay experts will get you a merchant account. With many years of experience, QuadraPay now offers Bad Credit Merchant Account. Apply today to accept credit and debit cards online and at retail stores. You Are Not The Only One In Need Of Bad Credit Merchant Account Providers. Your company may be new or old. It may be from any industry. An important thing that matters is the financial strength of the business & promoters. It is fair from the payment service providers’ point of view. They want strong partners. Unfortunately, most of us face financial challenges sometimes in our lives. We see our credit score going down.

Companies may not increase their financial strength without a credit card processor. It is because customers prefer to pay by credit and debit cards. Fewer Payment modes mean fewer sales. Fewer sales mean less profit, and it may lead to negative growth.

These Factors Impact The Approval Of Bad Credit Merchant Processing Account.

The underwriting team handles approving the merchant account. This team looks at various factors before saying yes to the merchant.

  • KYC or KYM(Know your customer or Know your merchant). They check every document. False and manipulated documents result in an immediate decline.
  • Industry Type plays a crucial role in decision making. We all know that banks hate the word risk. They want to play safe, so they say no to merchants from unregulated industries.
  • Physical and Virtual Presence. The risk team checks the business premises and conducts a site inspection. They may hire third-party agencies to run these checks. If the business operates via a website, they look at all the website’s pages. Yes, they check every page.
  • Ticket Size and Monthly Transaction Volume. Banks prefer to work with merchants that have small ticket sizes. Merchants selling high-value items but a lower number of transactions are High Risk. Our partner processors are perfect for merchants with bad credit scores.
  • Merchants Location. Banks have to follow local and international regulations. They will check the feasibility of approving the account in your country. Companies from countries facing UN and US sanctions do not get a yes. Countries with unstable democracies are also sometimes considered high risk.
  • Website Compliance. Make sure you mention the company’s legal name and billing descriptor on all websites. You should display the customer care number and support email on the website. Policy pages like Refund, Terms, Privacy, Disclaimer, and cookie are also vital.
  • Delivery Time Frame and Shipping Partner. State the timeline and the mode of service delivery. If you have an agreement with a reputed logistics company, then share the same with the processor. It can increase the possibility of you getting a merchant account.
  • Bad Credit Merchant Account Phone Verification. Phone verification is an integral part of the underwriting process. Before approving the merchant account, the underwriters may call the support number. It is to understand the business model and level of support. Setting a branded call greeting on the toll-free number is good.
  • DBA, Business Name, and Website Name Correlation. DBA is sometimes a fictitious name used by merchants. Some merchants use it because the legal term of the company is very long. We recommend that all these three elements must correlate. Fraudsters prefer not to have a similar DBA as a legal business name. They may do this to hide their identity from the customers. You may also put the company number on the footer as it helps create a positive image of your business.
  • Processing History Of Merchants With Bad Credit. We all know that getting a bad credit card processing account is very difficult. If you have a PayPal statement, you must share it with the acquirer or the payment service provider.
  • Remove Some Products And Services That May Create Problems. Few products or services can attract more risk than others in every industry. That’s correct. The underwriting process is very complex. Underwriters focus more on the products that can attract more returns and chargebacks. Try to remove items that you think will attract returns, refunds, and chargebacks. You may have 100 products; few may create challenges out of these 100 products. Remove them before the underwriters look at them.
  • Check Your Online Reviews For Negative Rating. That’s correct. All information that you place in the application will be cross-checked. The credit card processing company checks your credit score and online reputation. Suppose there are a lot of negative reviews about your website, company name, email, or phone number. In that case, it can impact the underwriting process.
  • Share Documents That May Show Your Financial Strength. You should share your present financial strength if your credit score is terrible. You still may be getting payments by the regular business. Share your tax statement and profit and loss statement. This may help the underwriters to take more risks.

Many processors approve these accounts, but they put different conditions. The purpose of these conditions is to help financial institution avoids risk.

KYC For Bad Credit Merchant Services/No Credit Check Merchant Services

  • Business license. The business license identifies the legal status of the company. It can be the certificate of incorporation or a memorandum of association. The KYC requirements vary depending upon the location where the company is registered. If you own a single-owner company, then share your DBA details.
  • National ID and Address Proof of the business owners. These two documents help the processor identify if they are working with the correct entrepreneurs. The processing companies verify all your documents. Never send forged documents. It never helps. Never manipulate the bank statements.
  • Utility bill for business and residence. The utility bill can be for Electricity, Telephone, Mobile, Gas, and Internet. If the utility bill is unavailable, the processing company may request a notarized lease agreement.
  • Copy of the passport. It’s not mandatory. Sometimes processing companies may ask for copies of the passport of each director.
  • Suppliers agreement. If you are an entrepreneur selling services you fulfill, you do not need a supply agreement. If you sell tangible products, you will undoubtedly need a supply agreement. The supplier agreement defines the source of the products.
  • Business plan. Even if your credit score is terrible as a professional, you must have a business plan. It helps the processing company to identify your vision. Processors would be interested in working with organizations with a long-term vision. The business plan is a perfect tool to create confidence in the underwriters’ minds. The business plan should not be very extensive but precise and to the point.

Website Compliance For Bad Credit Merchant Applications.

Your website must comply with the processor’s requirements. Let’s look at compliance requirements to get an online credit card processing account without a credit check.

  • Your website should display your business model. No Misrepresentation.
  • Set the right expectations. The product description should be clear and honest. Refrain from offering guarantees for the products that your organization does not manufacture.
  • The refund policy should be easy to understand. Don’t use legal jargon. Underwriting professions like refund policy to be in pure form.
  • Pricing and Currency should be transparent on each product page. Don’t confuse the buyer. Think that the underwriter is your first buyer. Give a great experience.
  • The delivery time frame should be visible. It must be on the shipping details page and product pages.
  • Your website should attract some traffic. We have seen many applications getting rejected just because of no traffic on the site.
  • Your Website, Email, Phone number, or Company name should not have any negative reputation on the internet. If there is any, then you should have a justification.
  • Your website should load on the https protocol. For this, your site will need an SSL certificate. SSL is mandatory for online credit card processing.
  • The contact number, email, and business address must be on the contact us page.

Bad Credit Merchant Account Services FAQ

What Exactly Is Online Credit Card Processing With No Credit Check

You can get an online credit card processing account with no credit check. Credit card processing companies perform a credit check to check the creditworthiness of the merchant. Merchant acquiring banks follow strict guidelines of card brands. They also comply with the instructions of various government organizations. The Banking industry evaluates the merchant when they apply for a credit card processing account. A good credit score helps the financial institution have more faith in the applicant. Our aggregated account providers may offer merchant accounts with less stringent credit checks.

Why Merchants Need Credit Card Processing With No Credit Checks.

The team at Quadrapay believes that every merchant should get an opportunity to process credit cards online. It is the reason why we have established relationships with multiple payment processors across the globe. We work with PSPs, IPSPs, Payment facilitators, and Aggregators. We have also developed relationships with numerous offshore payment service providers. These foreign processors understand the requirements of merchants struggling with bad credit scores. Suppose you are looking forward to getting an online Credit Card processing account with no credit check. In that case, offshore solutions can be right for you.
Apart from helping merchants with no credit check merchant account, we can also assist you in getting an ACH payment processing option that does not involve an extensive credit check.

We can also help you get a prepaid debit card without employment verification or credit check. The Prepaid card solution is available only to USA Citizens.

Entrepreneurs are the most significant risk-takers. All days are not equal. Sometimes even large businesses may experience financial challenges. Small business owners struggle with economic problems quite often. Large companies have the possibility of inviting investors and venture capitalists at the time of a financial crunch. Many business owners struggle with a bad credit score. These business owners still give a hundred percent to the business. When these merchants apply for online Credit Card processing with local banks, the applications are often rejected. Financial Institutions consider these applicants as high-risk merchants.

What can these business owners do? Is there a way to get an online Credit Card processing account with no credit check?

Yes, there are different kinds of credit card processors. Some processors only operate within the USA. Some may work in the European Union. Some may offer solutions to customers in more than a hundred countries. These processors are also called Global processors. As a merchant, you can apply with these processing companies. They may not offer you a direct account, but they may provide you with an aggregated merchant account. Still, you will be able to accept payments, which will help your business stay active. Usually, no credit check merchant account is a little bit expensive. Offshore processing companies also settle funds every week. If the credit score of the merchant is terrible, then the merchant may be subject to a rolling reserve. The rolling reserve can range from 5% to 10%.

How Quadrapay Assists In Getting Online Credit Card Processing With No Credit Check.

The Quadrapay team will be happy to assist you in finding reliable offshore processors. With Offshore aggregators, the possibility of you getting merchant accounts increases. We recommend sending copies of all KYC documents to the processing company. A complete application form and full KYC set will help you to get online payment processing faster.

Apart from card processing, you can also get high-risk ACH processing accounts without a stringent credit check. Some third-party ACH processing companies offer these services. Online Credit Card Processing No Credit Check is easy now with Quadrapay. To improve the chances of getting an account, we request you to have faith in us. We will work as your consultant and will make it easy. The team at Quadrapay will be happy to talk to you.

Can I Get A Merchant Account With Bad Credit?

Yes. Many payment service providers offer merchant accounts even if the credit score is bad. However, they may implement a few risk mitigation measures to reduce the credit risk. These measures may include adding a rolling or fixed reserve. Limiting card velocity and limiting ticket size.

Do Merchant Accounts Check Credit?

Yes. It is a general rule in the payment industry to check the credit score of every applicant merchant.

What Credit Score Is Needed For A Merchant Account?

There is no set value for the same; however, if the credit score is less than 500, it becomes challenging to get an account.

Contact QuadraPay Today! Our team will provide you an awesome solution.