Lending Industry About to Add More Drama to High Risk Merchant Processing

Lending Industry About to Add More Drama to High Risk Merchant Processing

The world of high risk merchant processing is never boring. Now it’s the lending industry that’s about to face its most significant disruption…maybe ever. While the payday loan industry for years was in the crosshairs of Operation Choke Point, the Consumer Finance Protection Bureau’s effort to squeeze out certain high risk industries, it survived (Operation…

Is Your Business Ready for a Mobile Wallet Merchant Account? It May Be

Is Your Business Ready for a Mobile Wallet Merchant Account? It May Be

Here’s a prediction: Over the next five years, we think there is going to be an increased need for mobile wallet merchant accounts. For the last several years, we had read about U.S. consumers shunning mobile wallets, instead remaining steadfast to traditional credit card payments and cash. While credit cards and cash are still the…

With Credit Card Merchant Accounts Elusive, Other Pay Types for Sports Betting will Thrive

With Credit Card Merchant Accounts Elusive, Other Pay Types for Sports Betting will Thrive

To say the least, the US is warming to all things sports betting, but credit card merchant accounts for such will be virtually non-existent until issuing banks can collaborate and establish a framework. Until that happens – we believe it will take a few years at the very least – the US sports betting market…

Merchant Accounts for Online Gambling? You Cannot Ignore the Signs

Merchant Accounts for Online Gambling? You Cannot Ignore the Signs

We’re eagerly awaiting the day that we can offer merchant accounts for online gambling in the U.S. It’s coming, but it may be years away because of countless hurdles. Very few things ever happen quickly in America (hence our reference to former British Prime Minister Winston Churchill last week). Change happens very, very slowly, gradually,…

Internet Merchant Services for Dietary Supplements: Why it’s High Risk

Internet Merchant Services for Dietary Supplements: Why it’s High Risk

Recently, out of the blue, quite a few inquiries have come to us about internet merchant services for dietary supplements and what we have available. Whenever we receive an influx of calls on a particular industry, it usually means that an acquiring bank somewhere has ceased offering merchant account solutions, leaving industry merchants scrambling to…

New York Proposal Could Mean More Oversight in Online Lending Merchant Services

New York Proposal Could Mean More Oversight in Online Lending Merchant Services

The New York State Department of Financial Services (NYSDFS) wants more regulations for online lenders. We’re wondering if such a move could lead to changes how acquiring banks give approvals for online lending merchant services. The proposal doesn’t name payday lenders by term – actually, the proposal doesn’t reference any specific type of lender –…

California Ruling to Impact Recurring Payment Merchant Account Solutions

California Ruling to Impact Recurring Payment Merchant Account Solutions

We’re not in the business of making predictions, but we wholeheartedly feel that recurring payment merchant account holders are going to have to adjust their models in the very near future. Since the General Data Protection Regulation (GDPR) was enacted in the European Union, we’ve always had the feeling that a trickle-down effect would spread…