Online Credit Card Processing 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. Banking industry evaluates customers when they apply for credit card or Credit Card processing accounts. A good credit score helps the financial institution to have more faith in the applicant.
Why Merchant Need Online Credit Card Processing With No Credit Check.
The team at Quadrapay believes that every merchant should get an opportunity to process credit cards online. It is the reason why we 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 merchants who struggle with bad credit score. If you are looking forward to getting an online Credit Card processing account with no credit check, then offshore solutions can be right for you. Apart from helping merchants with no credit check merchant account, we can also assist you in getting ACH payment processing option that does not involve an extensive credit check. We can also help you in getting a prepaid debit card without any employment verification of 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 capitalist at the time of financial crunch. Many business owners struggle with bad credit score. These business owners still give hundred percent to the business. When these merchants apply for online Credit Card processing with local banks then most of the times the applications are 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 Payment 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, and it will help your business to stay active. Most of the times no credit check merchant account are a little bit expensive. Offshore processing companies also settle funds on a weekly basis. 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 account increases. We recommend you to send 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.
KYC For Online Credit Processing With No Credit Check.
- Business license. The business license identifies the legal status of the company. It can be the certificate of incorporation or memorandum of association. If you own a single owner company then you DBA certification would be needed. The KYC requirements vary depending upon the location where the company is registered.
- National ID and Address Proof of the business owners. These two documents help the processor to 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 not available, then the processing company may request for a notarized lease agreement.
- Copy of the passport. It’s not mandatory. Sometimes processing companies may ask for the copies of the passport of each director.
- Suppliers agreement. If you are an entrepreneur selling services that are fulfilled by you, then you do not need a supply agreement. In case if you sell tangible products, then 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 still 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 long-term vision. The business plan is a perfect tool to create confidence in the minds of the underwriters. The business plan should not be very extensive but should be precise and to the point.
Website Compliance For Online Credit Card Processing No Credit Check
Your website must comply with the processor’s requirements. Let ‘s look at some compliance requirements to get online credit card processing account without a credit check.
- Your website should display your business model. No Misrepresentation or Miscodding, please.
- The product description should be clear and honest. Set the right expectations. Refrain from offering guarantees for the products that are not manufactured by your organization.
- 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 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 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.
Please note that apart from card processing you can also get high risk ach processing accounts without stringent credit check. Some third party ACH processing companies offer these services.
The team at Quadrapay will be happy to talk to you. To improve the chances of you getting an account we request you to have faith in us. We will work as your consultant and will make it easy. Online Credit Card Processing No Credit Check is easy now with Quadrapay.