Collection Agency Merchant Account

Complete Merchant Services for the Debt Collection Industry

Performance Card Service (PCS) specializes in payment processing solutions for high risk enterprises, including collection agency credit card processing. Our knowledgeable team has more than 20 years of experience helping companies apply for, set up and maintain debt collection merchant accounts. There’s no reason to let the high risk nature of your business slow you down.

Difficulties of Securing a High Risk Merchant Account for Debt Collection

Merchant services for debt collection are not available from every financial institution. Collection agency merchant services are considered high risk because agencies tend to experience a higher than average rate of chargebacks: Debtors will sometimes provide credit card information to the agency and, then later, contact their banks to stop payments. Over and above this, since collection agencies deal with a very high percentage of individuals and firms with bad credit, the risk of insufficient funds and fraudulent credit card data is high. If the debt collection agency uses a recurring billing model for its clients, this, too, is a red flag for financial institutions, since recurring payments invite chargebacks due to disputes, changes in ability to pay, lack of awareness that billing is ongoing and other issues.

This all adds up to collection agencies being in a position where a collection agency merchant account is hard to obtain and may come with much greater than average fees and restrictions.

Why PCS for Collection Agency Credit Card Processing

PCS understands the challenges facing collection agencies and the high risk nature of their work. Over the years we have specialized in high risk payment services and have forged strong relationships with multiple processors that are comfortable working in the debt collection field. These processors offer a full range of service options and sophisticated technology to monitor fraud and settle transactions quickly and securely.

Our debt collection industry experts will help you put together the necessary information for your merchant account application, guide you through a review of your options, and assist with setup and ongoing troubleshooting and service enhancements. In addition to credit card processing, we routinely help collection agencies set up eCheck payment, to give customers another very secure payment option.

PCS strives to maintain a long-term relationship with every client. Our fees are transparent, our communication is professional and direct, and our responsiveness and interest in providing full value are second to none in the industry.

Contact Us Today!

If you have a new collection agency and need to set up a merchant account or if you are an established business in need of upgrading and/or reducing the cost of your collection agency credit card processing, please contact PCS today. We are eager to learn more about your challenges and find a solution to keep your business moving forward.

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