Platinum’s mission is to take the necessary time with each client and bring simplicity and transparency to a complicated industry. The majority of payments made to collections agencies are made by mail or over the telephone, constituting a Mail Order Telephone Order (MOTOA type of payment card transaction where the order and payment information is transmitted to the merchant either by mail or by telephone. This is an attempt to collect a debt and any information obtained will be used for that purpose. Falls Collection Service, Inc., d/b/a/ Financial Control Solutions (FCS) does not collect any personal data on persons visiting this website. We specialize in debt collection merchant processing and are savvy on all card brand, state and federal regulations. Merchants operating in the debt collection industry are in the business of moving money, acting as an intermediary to help businesses collect on unpaid debts. Merchants Recovery Solutions, Inc. 711 N 1st St Phoenix, AZ 85004-2011 Merchants Recovery Solutions, Inc. Merchants Recovery Solutions, Inc. is an Arizona collection agency. If you are being sued by any of the below, note that they are all notorious for not having contracts, agreements or any documentation whatsoever. Update: 05-01-2021 We are very aware of the current domestic situation with processing and debt collection services being shut off. Tampa, FL 33602. A Virtual Terminal with full back-end reporting. Save money with Merchant Solutions low processing rates and free terminal program. This can happen if you forgot to pay a bill and your account was sent to a debt collector. If you are a debt collector or collection agency, Double Helix Processing can help you get the merchant account you need. » Thorough review of the merchant’s website; including vetting of the service and compliance requirements. means that your merchantA business that accepts credit cards for goods or services. » Debt collection agencies We have multiple underwriting merchant processor banks available to provide reliable payment ⦠Seattle Collection Agency | Merchants Credit Association MCA is a premier full-service debt collection agency, providing successful debt management solutions with integrity since 1937. » Signed and completed merchantA business that accepts credit cards for goods or services. Merchants Solution Group. Credit card transactions can even be paid out as quickly as the next business day. They’re one call, text or email away. There are over 6,500 collection agencies across the United States. NMA has you covered. The debt collection industry has undergone major transformations over the past decade and evolved to keep pace with changing compliance requirements. » MOTOA type of payment card transaction where the order and payment information is transmitted to the merchant either by mail or by telephone. If you get a customer on the phone the easiest way to clear up the debt is to have them pay by credit card, debit cards, or check processing. transactionAn act between a seller and a cardholder that results in either a paper or an electronic representation of the cardholder’s promise to pay for goods or services received from the act. » E-commerce businesses The listings below are the worst collection agencies. Debt collection consultants and service providers are categorized by SIC Code, NAICS Code and Visa Merchant Category Code (MCC) to comply with payment card industry requirements. 6800 Jericho Turnpike Suite 113E Syosset NY 11791 (800) 851 - 9592 accounts for collection agencies. accounts to agencies that purchase bad debt or want to accept credit cards. services provider who understands the collections industry and high-risk payment processing is crucial to your success. As customers accruing debt will ultimately want to pay off past due financial obligations via a credit card or electronic check, obtaining a stable merchant account is critical. With Platinum, you will receive the most personalized service with a dedicated relationship manager, available 24/7. Business Profile. Examples of high risk merchants are telemarketing, adult and travel related industries.” doesn’t mean corrupt. Submit an application for a merchant account for free. Swipe credit cards securely by implementing PCI compliant payment solutions. » Collateral recovery and repossession services. We understand how difficult it can be to get a merchant account approved as a debt collection agency. Typical card-not-present transactions take place in businesses focused on mail order/telephone order, business-to-business, and Internet-based transactions.... space. A collection agency merchant account is essential to process payments in this unique industry. Click âView caseâ for information about the lawsuit that resulted in the ban, including press releases and links to the legal complaints. Merchant accounts became the utmost sought, after the wireless credit card terminal was introduced in the late 1990âs. processors invested in limiting liability exposure. NMA’s in-house underwriting team ensures streamlined communication throughout the application and setup process. Debt collectors are required to inform you of who they work for, and the debt they are contacting you about. High riskA merchant that is considered a high risk based upon the credit, product, method, ticket size or volume. We are actively taking on merchants. NMA cannot provide merchantA business that accepts credit cards for goods or services. Your clients depend on you to handle their credit card transactions, online payment processing, and more â all vital services, since studies show 82% of Americans prefer to pay with credit or debit cards instead of cash. account needs additional maintenance and consideration to ensure longevity and prosperity. in-house underwriting, and risk management to maintain MIDs and keep them healthy. National Merchants Association is a registered ISO/MSP of Commercial Bank of California, Los Angeles, California This a card not-present transaction. A type of payment card transaction where the order and payment information is transmitted to the merchant either by mail or by telephone. As we noted in our opening paragraph, finding payment processing for third party debt collectors is difficult. High Risk Experts National Merchants Association (NMA) is the expert in hard-to-place merchantA business that accepts credit cards for goods or services. Arizona collection agencies can help businesses, medical practices and facilities that are creditors to collect their accounts receivable. Instabill offers numerous merchant account solutions for collection agency merchants in any category: Offshore Collection Agency Merchant Account (with payment processing history): Case-by-case basis. National Merchants Association is a registered ISO/MSP of Synovus Bank, Columbus, Georgia However, debt collection services are businesses just like any other, and a handful of merchant services providers are willing to serve even high risk collections companies. NMA understands the need for a working, healthy merchantA business that accepts credit cards for goods or services. account, especially for debt collectors in the card-not-presentA merchant environment where the cardholder (and the card) is not physically present at the time of purchase. accounts. In The Debt Collection Industry? NMA has your high-risk business’ best interest in mind; offering customized processing solutions to position you for growth and success. Simply click the button to start the process or speak with a merchant account manager directly at 1-800-318-2713. We have a fast process for underwriting and can start processing credit cards for your debt collection agency within a week. The Fair Debt Collection Practices Act, for instance, prevents collection agencies from abusive practices and limits communication, legal action and disclosures. If you’ve had trouble getting your debt collection business approved for electronic processing, we have good news! businesses Debt collection scams are getting sophisticated. Any pause with, or failure to identify themselves clearly and immediately, is a huge red flag. In the event that a bank does offer debt collection merchant accounts, it typically will require a very long processing history and an aggressive cash reserve. An act between a seller and a cardholder that results in either a paper or an electronic representation of the cardholder’s promise to pay for goods or services received from the act. Debt collection help might include; collection demand letters, debt collector ⦠The debt collection agency industry is one that grossed over $10.4 billion in 2013, domestically, collecting $55.2 billion in acquired debt, and these numbers just continue to grow with every passing year (approximately 15% each year since). Businesses served within the collection industry. If you need another type of solution for your merchants collection agency, explore our site to see all solutions offered. Payment processing should be simple. Collection merchants can count on NMA to provide custom merchant accounts, in-house underwriting, and risk management to maintain MIDs and keep them healthy. A business that accepts credit cards for goods or services. Merchants Adjustment Service, Inc. (MAS) is a debt collection agency located in Mobile, Alabama. processing application (MPA) Regulatory requirements and compliance concerns often prevent acquiring banks from approving merchantA business that accepts credit cards for goods or services. Debt Recovery Business Merchant Processor. » Debt portfolio collection services Debt Collection Merchant Account Payouts High Risk Solutions delivers reliable and timely payouts. ), which became effective in March 1978, was designed to eliminate abusive, deceptive and unfair debt collection practices. The Fees per credit card sale can be deducted from each sale or be paid out at the end of each month in one lump fee. (833) 637-0149. The Fair Debt Collection Practices Act (FDCPA) (15 USC 1692 et seq. Debt collection businesses should partner with a merchantA business that accepts credit cards for goods or services. Adding a recurring payment module to automate payment agreements, streamlines your internal processes and saves on labor costs, as well as reducing human error. The action between a cardholder and a merchant that results in financial activity between the merchant and cardholder’s account..... Cash payments aren’t an option for debt collection companies, so the ability to accept debit card payments is crucial to business success. As a merchant services provider, you are a crucial link in the chain that keeps businesses moving. Although debt collection is a restricted industry for payment processing, the label “high riskA merchant that is considered a high risk based upon the credit, product, method, ticket size or volume. © 2019 National Merchants Association - All Rights Reserved, Debt Collections Merchant Account Solutions. service provider that has expertise in high-risk merchantA business that accepts credit cards for goods or services. A merchant that is considered a high risk based upon the credit, product, method, ticket size or volume. NMA provides processing for: » Domestic, U.S.-based accounts Examples of high risk merchants are telemarketing, adult and travel related industries. A number that numerically identifies each merchant to the merchant processor for accounting and billing purposes. Debt Recovery Solutions, LLC. » Brick-and-mortar businesses 1-866-857-3916 Academy Collections Account Solutions⦠Since 2006, Platinum Relations has been working alongside payment processors, achieving the lowest rates and ensuring the highest level of service for their clients. This is a communication from a debt collector. The process of transferring funds for sales and credits between Acquirers and Issuers, including the final debiting of a cardholder’s account and crediting a seller’s account. Integrate with hundreds of Shopping Carts. Online Check processing also available. Some debt collection merchants use echecks for the first few recurring payments to âvetâ the debtor. Once approved, our specialists will monitor your account and keep your chargeback ratio as low as possible. bank account (voided check or bank letter) The current regulatory climate places restrictions on businesses operating in the debt collection ecosystem. Once Green Pay confirms your collection agency is operating within state and federal laws, we will set you up with a merchant account that fits the needs of your debt collection company. » Validation of settlementThe process of transferring funds for sales and credits between Acquirers and Issuers, including the final debiting of a cardholder’s account and crediting a seller’s account. Examples of high risk merchants are telemarketing, adult and travel related industries. Merchant Solutions retail credit card processing solutions allow merchants to offer flexible methods of payments at the point-of-sale, including major credit cards, debit cards and checks. A strategic way to allow credit card transactions for collection agency, debt brokers, debt consoldiation, commercial collections, collecting on loans, collecting on NSFs, collecting on past due medical bills. account. Merchants Adjustment Service is a full service medical, commercial and consumer bad debt collection agency located in Mobile, AL. Instabill is currently in pursuit of a banking solution for debt collection merchants, and will announce when it has found a secure, practical solution. Depending on business history and financials, additional documents may be requested in order to round out the merchantA business that accepts credit cards for goods or services. With NMAâs expertise and deep commitment to collaboration, debt collectors can thrive with a long-term MID A number that numerically identifies each merchant to the merchant processor for accounting ⦠You will be put in touch with a dedicated merchant ⦠Depending on the debt collection merchant solution you select, you can save yourself thousands of dollars working with a processor who approves of your business model. Merchants within the debt collection agencies industry include businesses that pursue payments on debts owed by individuals and businesses. Debt collectors are highly monitored by the Federal Trade Commission (FTC) and other regulators, as the industry as a whole has an unscrupulous history of deceptive and unethical practices. You may see them listed on your credit report as a collections account. According to the FTC, debt collection accounted for 23 percent of all consumer complaints in 2017 – a major concern for card brands and merchantA business that accepts credit cards for goods or services. High risk merchant accounts including collection agencies, SEO agencies, debt collection merchant accounts, 24 hour turnaround. Whether your business is a startup or an existing business, you’ve come to the right place. For those in the debt collection industry, we have the solutions you need to process transactions and collect the money from those who owe it. They specialize in medical debt recovery. We service the entire Southeastern United States. National Merchants Association is a registered ISO of Citizens Bank, N.A. SmithMarco, P.C., is a private law firm with its focus on consumer rights. application package. Merchant account and credit card processing solutions that are friendly towards Collection companies. Partnering with a merchantA business that accepts credit cards for goods or services. Retrieve and monitor transactions. Have one point of contact for any issues that may arise. Most agencies operate as agents of creditors while others buy debt portfolios from creditors at large discounts and then, pursue outstanding balances for their own gains. MORE. Platinum Relations is a registered ISO/MSP of Westamerica Bank, Santa Rosa, CA and Wells Fargo Bank, N.A., Concord, CA. Once approved, our specialists will monitor your account and keep your chargeback ratio as low as possible. You⦠Read More »Merchant Services Collections We specialize in debt collection merchant processing and are savvy on all card brand, state and federal regulations. They’re one call, text or email away. Why Does this Matter and How Can Double Helix Processing Help Me Get Merchant Account Solutions for Collection Agencies? With NMA’s expertise and deep commitment to collaboration, debt collectors can thrive with a long-term MIDA number that numerically identifies each merchant to the merchant processor for accounting and billing purposes.. Merchant accounts for collection agencies furnish ownership the ability process payments directly from the debtorsâ debit card, credit card, or high risk ach processing. Hassle Free& Recovery Guaranteed Merchant Account for Collection Agency. Proper classification is vitally important to prevent funds from being held in reserve for misrepresentation. High-risk merchant accounts necessary for an outstanding financial transaction Collection Agencies are rising nowadays and apply tactics to get debtors to pay; the debt collection industry lacks a good reputation. This a card not-present transaction.) Give us a call or fill-out the application request on the right side of the screen and one of our industry experts can help you determine the right merchant account for you. SIC, NAICS & MCC Codes. » Validation of ownership (driver’s license/passport, beneficial ownership information, etc) Have one point of contact for any issues that may arise. Your chances of beating them are great. Whether your business is a startup or an existing business, youâve come to the right place. Merchant Stronghold works with a number of processors and gateway providers with sponsor financial institution relationships that offer both domestic and offshore debt collection merchant accounts. Collections Agencies. Apply For Debt Collection Merchant Services Now. Navigating the regulatory environment is complicated enough. processing as well as the collections industry, in order to support compliance and best practices adherence. » Validation of business entity (articles of incorporation, fictitious name filings etc) This is an attempt to collect a debt and any information obtained will be used for that purpose. Since 2005, SmithMarco, P.C., has handled various consumer rights matters including fraudulent transactions, debt collector harassment protection, and credit report inaccuracy problems. PO Box 157. Merchant accounts are now essential for most businesses especially the online merchants. Solutions for third party debt collectors are sparse. Once the debt collection agency verifies the debtor will not revoke a transaction and has a good payment history without returned items, the debtor can be transferred to ACH by the debt collection agency. Great fees. With years of experience in the industry, we know how and where to get your account approved. Perfect for Established or Startup Debt Collection Agencies (Consumer or Commercial), Credit Resolution Services, Financial Services, Medical Collections, Loan Modification, Business Consulting, Tax Resolution Firms, Attorneys, Student Loan Processing Companies. National Merchants Association is a registered ISO/MSP of Evolve Bank & Trust, Memphis, Tennessee Some debt collection scams are designed for the quick cash. This sort of business is loaded with risk and all the revenue depends on the debtor working awesomely and is facing forthcoming reforms. we are able to offer credit card processing for debt collection companies under the following two options: Collection merchants can count on NMA to provide custom merchant accounts, in-house underwriting, and risk management to maintain MIDs and keep them healthy. Debt Collection The companies and people listed below are banned, by federal court orders, from participating in the business of debt collection. We also have Multiple Offshore Options available depending on your situation. Services such as managed billing, early out, letter campaigns and call campaigns can be tailored to fit your needs. The action between a cardholder and a merchant that results in financial activity between the merchant and cardholder’s account.... A merchant environment where the cardholder (and the card) is not physically present at the time of purchase. Your Search For A Merchant Processing Account Ends Here. Today the world of processing payments is as complicated as ever. Customers deny the debt or make unfounded complaints which can result in chargebacks. Proactive counseling, advocacy and vigorous defense – Venable LLP. This a card not-present transaction. If you operate a debt collection business, you’ve likely experienced difficulty acquiring and maintaining a merchantA business that accepts credit cards for goods or services. We currently have Domestic banks boarding collection merchants. If you choose to contact us through e-mail or by submitting forms through US Mail, the information you provide will only be used by FCS to support services you receive from FCS. Copyright © 2021 Platinum Relations | Powered by Platinum Relations Merchants Solution Group. » Supporting financial documentation (personal and/or corporate tax returns, bank statements, processing statements)
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