The debt collection industry represents a $13 billion slice of the U.S. business market, and revenues are expected to increase steadily in coming years.
Collection agencies play an important role in every business sector, helping ensure financial responsibility in consumer credit transactions. Despite the importance of the industry, banks and other finance companies consider debt collection businesses to be high risk.
As a result, financial services can be a challenge for debt buyers and collectors to obtain. Specifically, many businesses are unable to find debt collection agency merchant services. Without merchant services, debt collectors cannot process credit cards or take payments online.
Debt Collection Merchant Accounts
If you have a debt-related business, you may have experienced difficulties with payment processing providers. You may have seen how the absence of a merchant account provider can impede your ability to run a profitable and successful collection agency business.
Almost any small business in the debt collecting sector needs a merchant account in order to accept payments. The more options you have for debtors to pay you, the better. Accepting credit and debit card payments helps your company’s bottom line.
Merchant Card Advisors specializes in providing comprehensive merchant account services for high-risk businesses, including businesses in the debt collecting sector. We can help your collection agency even if you’ve you been turned down by service providers in the past.
Credit Card Processing for Debt Collection Businesses
Many types of small businesses fall under the umbrella of debt collections, including collection agencies, debt buyers, debt purchasers in the professional industries (like health care and legal), corporate collections and retail merchant collections.
Depending on what type of collections business you have, you may need to accept additional payment options, like online payments by eChecks or digital wallets like PayPal.
We can help you increase your company’s profits and benefit from additional revenue streams by allowing you to process the types of payments suitable to your debt business.
We Offer the Best Merchant Solutions for Debt Collections
Our substantial network of banking partners and our advanced financial tools allow us to provide you with the best package of merchant processing features at affordable prices.
At Merchant Card Advisers, we are experts in acquiring merchant accounts and related services for high-risk companies like yours. We can analyze your business and identify a variety of debt collection merchant services to benefit you. Our one-stop-shop approach lets us provide you with everything you need, including hardware and software tools that are suited to your agency’s needs.
Contact us today to learn more, or to get started with your debt collection merchant services and payment processing solutions.