Instamerchant Changes Policy to Accept Merchants with Bad Credit
Phoenix, Arizona (PRWEB) July 14, 2013 -- Instamerchant, the leader in credit card processing services, announced today that they would no longer decline merchant account applicants based on bad credit history, so long as they process under $1,000,000 annually. Typically, in the credit card services industry, a favorable credit record has been a requirement to acquire a merchant account. It is usually difficult for business owners to find merchant accounts for bad credit businesses. It is this type of account that enables businesses to accept credit, debit and gift cards within their establishment or over the Internet. Instamerchant has lifted all credit restrictions of merchant accounts whose credit history is less than stellar. They do, however, place limitations on processing volumes for a period of time if the credit history is unfavorable.
The lift on the ban for bad credit comes at a good time for businesses that may otherwise have a difficult time getting a merchant account. While retailers less often have difficulties getting approval, businesses such as mail and telephone order establishments have had a difficult time getting credit, and hence, getting a merchant account. Instamerchant's new policy will be a great assist to this type of business.
Instamerchant owner, David Standage, stated, "I really like serving this niche of merchants lacking good credit. In this rough economy, there are many businesses that have been struggling with credit issues. By being granted an Instamerchant account, despite the credit issue, they are given another chance to not only build their business, but rebuild and improve their credit." Standage continued, "I spoke to one of our customers, who told me how grateful he was for the acceptance he received from us. He told me that he had been turned down by 7 other merchant providers before he applied with Instamerchant, who readily approved him."
According to Standage, an establishment is more likely to be declined because of its high-risk classification. This includes businesses such as gambling sites, credit repair companies and pornographic sites, to name a few. These businesses are considered "high-risk" by Instamerchant, and are not approved for merchant accounts.
Instamerchant is a full service provider of merchant accounts for credit card processing solutions. They enable businesses to accept and process credit cards at the point of sale, whether it is at a retail store, over the Internet, or at a mobile site. For ecommerce websites, they offer a bundled Internet account that includes a browser-based virtual payment gateway. Best of all, there are no setup or application fees.
David Standage, Instamerchant, http://www.instamerchant.com/, 888-760-1700, [email protected]
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