Previously Terminated Merchants

If your business is on the Terminated Merchant File (TMF) or “MATCH” file, that does not mean you are completely black listed from ever getting a merchant account again. Accepting credit and debit cards is vital to your sales and revenue! Green Pay has worked with many merchants on these lists and we have been able to give them a second chance in being approved for a merchant account regardless of this issue. You Will Likely need an Offshore Merchant Account Setup. You Must have at least 30-50k in monthly volume to qualify for an offshore/international visa/mc merchant account setup. Let Green Pay walk you through the process of applying for a new merchant account. We work with a network of US and Offshore banks to get you matched with a solution that works for your business. Green Pay fights to get you the best rates possible and we provide excellent service for your specific situation.

How Green Pay Can Help Your Business:

What to do when merchant account is denied, declined, closed or shutoff? When it comes to starting a business there are many factors to think about. Financing is the main aspect that anyone first focuses on. Then comes presenting the business in front of the customers through the ease of the internet. If the business has to deal with accepting payment through credit cards and online payments, a merchant account is absolutely essential. And today a major share of payments occur through card payments. Opening a merchant account is pretty simple. But not all credit card processors and banks would be able to help you open a merchant account for all types of businesses.

First comes the determination based on the industry. Some industries are avoided all together by some conventional banks. Then comes the type of business. And then finally comes the experience of the business. For new businesses and startups not all credit card processors agree to assist. Online merchants would have a tough time to set up the merchant account and get the business going if they are beginning new or have a weak credit score. Main causes that can lead to denied or shutoff merchant accounts

1. Bad credit scores and history: Credit card processors and banks would look at the current credit scores and the financial performance of the past. If any of these appear unfavorable they might get their doubts about the payments of the future. This might lead to the merchant account request being denied.
   
   
2. Tax issues: If the business has any unresolved tax lien then that could also be a reason for the merchant account request being closed. This would make the business to be a risky bet for the credit card processor.
   
   
3. Future dated payment requests: In those businesses where the bookings and payments are done very much in advance before the actual receipt of the product or service the risk is considered to be high. Such businesses might also be rejected by the conventional merchant account providers.
   
   
4. TMF or MATCH list: Mastercard Alert to Control High risk merchant, is a collective list of merchants whose businesses are considered to be high risk. Those businesses that are listed in this criteria would be blindly rejected by most banks and credit card processors. High risk merchants would also be able to help startups.
   
   

The above mentioned cases are all directly risky. These are either due to the credit performance or due to the volatile payments. Such instances might lead to huge chargebacks. But there is one other category of businesses that are usually denied by merchant account providers. That is the startups or new businesses. These are simply difficult to judge. There might be several investors willing to take a risk but when it comes to credit card merchant account providers, they might not all be willing to do this. So a high risk merchant account provider would be the right choice in such cases as well. They would downright declare that they have a New business OK policy and they would be able to assist those businesses that are yet to start making a credit score.

Offshore / International Processing for Terminated Merchants

High risk merchants do not just cater to the needs of the risky businesses but also offer enough flexibility and freedom to choose the type of account, all at nominal rates. They might also make it easy for you with their simple application process and no application fees. Look for those that come with multiple underwriting banks so that no matter what the size of the transactions would be, your merchant account would be able to handle it. Based on the types of transactions, the location of the majority of the clients and other factors, you would be able to choose a suitable type of merchant account. There are domestic accounts and then there are offshore accounts. Domestic accounts are the simplest choice which most businesses make. But in spite of their higher rates offshore accounts have their own perks.

Make the right choice. Compare the options you have at hand. You would be able to find several high risk merchant account providers. But the fees charged, additional features provided like the assistance in gateway setup for online payments and others would give a competitive edge. This would ensure that you would be able to hand over to the merchant account provider all the payment related troubles. You can then focus more on the growth and development of your business without any worries.

Our representatives are happy to answer any questions you might have about our solutions for small, medium, and large business owners in every company size and industry imaginable. Please contact us for more information or to set up an account today.