COLLECTION AGENCY MERCHANT PROCESSING
Collection Agency Payment Processing
Reputation matters in any business, but especially when you are securing a merchant account for your company’s credit card processing. Credit card companies and banks that provide merchant accounts don’t look at your personal reputation, but rather the reputation of your industry.
Often, when reviewing a collection agency merchant account application, most providers turn down someone in this industry without a second thought.
With TouchSuite, collection agencies are able to take payments safely, securely and with true confidence in their processor.
COLLECTION AGENCY PAYMENT PROCESSING
Increase Your Processing Limits
The processing information below came from one of your competitors. Adding TouchSuite is a fast and easy process.
Why Are Collection Agencies Considered a Risk?
This seems paradoxical since most businesses consider collection agencies as reliable partners who help them do what they cannot do by themselves – hold partners and customers financially responsible when they either illegally or unknowingly neglect to pay for goods and services.
And collection agency credit card processing is a key part of an agency’s business. When people accrue debt, they use credit cards to either set up automatic payments or to pay the debt completely. Not being able to process credit cards means that a collection agency cannot collect.
This is the case of a few bad actors spoiling it for those in the industry who act in good faith. Some collection agencies have given the entire industry a bad name by harassing debtors at work, calling them day and night, and bothering them in person. This has led to an almost universally shared opinion that these agencies are underhanded, deceitful, and troublesome.
In addition, collection agencies tend to have a lot of charge backs, since a portion of the people they contact agree to make a payment, and then decide against it. This causes a lot of cash flow to and from a business, and banks worry about whether or not the collection agency has enough money to pay its customers and that, if they don’t, they will be responsible.
At TouchSuite, we view collection agencies as honest companies run by trustworthy people who are providing a legitimate service that is needed. We offer affordable collection agency merchant accounts and collection agency credit card processing solutions.