Credit Repair Merchant Account Solutions

Accepted Business Types

Credit repair businesses may find it difficult to secure electronic payment processing services due to the current regulatory landscape and its direct impact on the industry. Statutes like the Credit Repair Organizations Act, as well as others, often prohibit and restrict certain business models, and penalize merchants for non-compliance.

Regulatory and compliance issues are only a few reasons why credit repair businesses should seek a merchantA business that accepts credit cards for goods or services. services provider with extensive industry expertise. With the right merchantA business that accepts credit cards for goods or services. services pricing and solutions, credit repair businesses can experience growth and longevity in their highly regulated industries. NMA has the best interest of your high-risk business in mind. We provide processing for:

» Domestic, U.S.-based accounts
» Brick-and-mortar businesses
» E-commerce businesses
» MOTOA type of payment card transaction where the order and payment information is transmitted to the merchant either by mail or by telephone. This a card not-present transaction. businesses
» Credit repair businesses

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What to Expect

For any NMA merchant account, a basic package is required to get started:

» Signed and completed merchantA business that accepts credit cards for goods or services. processing application (MPA)
» Validation of settlementThe process of transferring funds for sales and credits between Acquirers and Issuers, including the final debiting of a cardholder’s account and crediting a seller’s account. bank account (voided check or bank letter)
» Validation of business entity (articles of incorporation, fictitious name filings etc)
» Validation of ownership (driver’s license/passport, beneficial ownership information, etc)
» Supporting financial documentation (personal and/or corporate tax returns, bank statements, processing statements)
» Thorough review of the merchant’s website that includes vetting of the service and compliance requirements

NMA’s in-house underwriting team processes the merchantA business that accepts credit cards for goods or services. account package, and may request additional documents to supplement the overall underwriting review. The more complete an application package, the faster NMA can expedite the underwriting process.

NMA’s in-house underwriting team facilitates streamlined communication and customizes processing solutions that work for your business. You can expect a unique, personal experience when working with NMA.

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Credit Repair Businesses: Why They’re Considered High Risk

Credit repair businesses operate in a business environment that is dependent upon clientele with a history of making unfavorable financial decisions. As a result, it takes time for credit repair services to improve consumer credit scores. Most businesses require a recurring, monthly subscription – making the merchantA business that accepts credit cards for goods or services. susceptible to chargebacks that typically plague subscription-based services. Consumers, not seeing expected credit profile changes, may file a chargebackThe act of reversing a sale made by the merchant. This can happen for many reasons including procedural and fraud. The process usually begins with a dispute from the cardholder. for services not rendered, and may even dispute transactions. This is a form of friendly fraud that occurs when consumers dispute transactions, and can lead to a high chargebackThe act of reversing a sale made by the merchant. This can happen for many reasons including procedural and fraud. The process usually begins with a dispute from the cardholder. ratio.

Credit repair businesses are also often associated with unlawful and fraudulent organizations. These fraudsters tarnish the reputation of the industry, and lead credit repair companies to advertise unrealistic outcomes and unsubstantiated claims – leading regulators and acquiring banks to avoid doing business with these companies.

Working with a merchantA business that accepts credit cards for goods or services. services provider who understands the industry and the complicated regulatory environment is crucial to merchantA business that accepts credit cards for goods or services. success. Merchants need a merchantA business that accepts credit cards for goods or services. account that will receive personal attention and expertise in high-risk payment processing and credit repair.

High riskA merchant that is considered a high risk based upon the credit, product, method, ticket size or volume. Examples of high risk merchants are telemarketing, adult and travel related industries. doesn’t mean corrupt. High riskA merchant that is considered a high risk based upon the credit, product, method, ticket size or volume. Examples of high risk merchants are telemarketing, adult and travel related industries. means that your merchantA business that accepts credit cards for goods or services. account needs additional maintenance and attention to keep it healthy and successful.

High-risk merchants can count on NMA to provide exemplary merchantA business that accepts credit cards for goods or services. account services, as well as the necessary expertise required to provide reliable, long-term payment processing for the debt collections and credit repair industries.

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