Can i accept my other business payments with my current payment solution?

Merchant Services Q&ACan i accept my other business payments with my current payment solution?
Naman Verma Staff asked 6 months ago
1 Answers
Bankim Chandra Staff answered 1 week ago

If this question relates to credit card processing then the answer is a clear No. The reason why we state this is because every merchant account is approved after a process called underwriting. This means that the rates, approval, terms are all dependent upon the type of business. merchants history, jurisdiction and industry type with various other factor.
The consequences can be bad. If your processor gets to know that you have started accepting payments from unregistered URL then they may have to implement a heavy penalty on your account. Not only that they may also list your account and details in TMF /Match list/ That means blacklisting for many years.
So what exactly is the solution.
Option 1- Simple and easy. Approach your Payment processor. Let them know that you have another line of business that requires payment solution. You may have to follow the same application process and the rates may be different as it varies depending on the MCC.
Option 2. Contact us and share your merchant application. We will check with PSP will offer a good solution for your other line of business.