Startups are inherently high risk, which means getting a merchant account as a new small business owner is going to be a challenge. It can seem like a perpetual cycle. You need payment processing history and past business experience to get approved for a merchant account. But how can you get
High-risk merchant accounts imply the level of risk an acquiring bank must take on if your application is accepted. As you can gather from the name, most banks are not exactly handing out stamps of approval to every application that comes their way.
Unless you’re thriving off cash transactions, you need a merchant account to make it as a business in 2021. It flips the switch for processing credit cards, the increasingly preferred method of payment for customers. So, you know credit is important or
The acronym “MID” stands for Merchant ID, Merchant Identification Number, or even Merchant Number. It sounds pretty straightforward and simple, but the MID plays a major role in the flow of funds. Not every merchant has an MID and merchants who do have one might not know
Any financial application has its challenges to overcome and applying for a high-risk merchant account in the USA is no exception. Staying on top of those challenges by anticipating them can minimize the time spent during the application’s processing and
