Open A Collection Agency Merchant Account

Running a debt collection or recovery agency can be a challenge to manage. Your work is about collecting funds from people who owe money for many reasons. You’ll need to ensure your business stays operational, so everyone pays the money they owe and that no one will be at risk of developing poor credit ratings.

You might struggle to find a collection agency/debt collection merchant account. It might be challenging to attain an account because your business is a high-risk entity. You could have an easy chance of taking in chargebacks and charge-offs, especially since many of your clients might not have the funds they need to cover their debts.

Why Are Collection Agencies High-Risk?

All of these collection agencies are essential for ensuring people can collect the funds they are owed. So why are they high-risk entities?

Collection agencies often encounter multiple chargebacks. They can receive chargebacks due to some parties who owe money not having the funds they require. Sometimes they will pay the debt via credit card but then charge it back to give themselves a short term reprieve. There’s also the risk of collection agencies enduring financial strain because of excessive charge-offs. Risk will be significantly higher if the business has too many charge-offs, as it shows funds the business is unable to collect and therefore may not be able to meet other obligations like chargebacks or merchant fees.

  • No Term Commitment

    Our excellent customer service and low rates retain customers, not our contracts. Cancel anytime free of charge.

  • No Up-Front or Hidden Fees

    No application, no setup fees, and no hidden charges.

  • Free Equipment Program

    Qualify for a free EMV compliant mobile swiper or terminal with a merchant account.

  • Free Equipment Program

    Qualify for a free EMV compliant mobile swiper or terminal with a merchant account.

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What Other Factors Work Against Collection Agencies

Excess chargebacks will result in you losing your merchant account. You will lose it due to your business not being trustworthy. A company that has too many chargebacks is often one that is doing business wrong or is not handling its customers’ funds well.

Staying in touch with your clients and understanding their needs is critical to reducing the risk of chargebacks. But it won’t always prevent them from happening. Keeping your collection efforts in check and ensuring people are charged the right amounts will ensure no worries.

What Merchant Account Providers Accept High-Risk Businesses

We at Host Merchant Services recognize that not all debt collection agencies operate as people assume. We understand your business is a legitimate one out to provide a sensible service. That’s why we will support you with a merchant account solution that fits your demands.

Debt collection is a challenging task, but it doesn’t have to be a hassle when you have a merchant account. You can utilize your account to help you collect funds, manage recurring payments, and everything else you need out of your work.

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Collections Agency Merchant Services

A merchant account can help you facilitate payment agreements and gather recurring payments as necessary. You can plan contracts with your customers and use your merchant account to charge and collect funds as necessary. These collections will occur based on whatever agreements you wish to utilize.

We can support many solutions for your collection needs:

  • We offer CRM payment integration to ensure you communicate well with the people who owe you money.
  • You can use a recurring payment module for clients who are on installment plans. The module will collect funds at the right times.
  • ACH payment processing also works when you need to collect bank-to-bank payments, including checks.

Our system provides a streamlined approach to work that you can trust. You’ll see your collections efforts are secure and sensible, giving you the help you need every time.

Get Started

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Collection Agency Merchant Services

We provide businesses of all types with payment processing and point of sale systems. We use straightforward pricing, no contracts or obligations, and fantastic customer service making us last merchant services company you will ever want.

  • Fast Approvals

    Get approved for a high risk merchant account quickly and start processing transactions right away.

  • Minimal Reserve Requirements

    We have the best high risk merchant account options, with the lowest possible reserve requirements.

  • Free Equipment Program

    Qualify for a free EMV compliant mobile swiper or terminal with a merchant account.

  • 24x7x365 Customer Service

    We are always here for you with access to industry-leading customer service 24 hours a day – 7 days a week – 365 days a year.

  • Low Rates

    High risk doesn't have to mean high rates!  We have many options to insure you get the lowest processing rates possible.

  • High Approval Rates

    Tired of filling out applications, only to be told the processor can't support your business?  We approve over 98% of all applicants!

  • Complete Payment Processing

    Accept credit cards, debit cards, ACH, and more, from all card brands without restriction. The merchant account your business deserves!

  • Chargeback Assistance

    We help high risk merchants manage chargebacks, reduce risk, and keep their merchant accounts in good standing.

  • Fast Funding

    Get your batches deposited quickly! Next day funding options available. The fastest funding timeframes available for high risk merchant accounts!