Archive for July, 2011

Credit Card Processing for Collection Agencies & Debt Recovery Agencies

Friday, July 29th, 2011

Due to the nature of their business, it can be quite challenging for a debt collection agency to secure credit card processing services.

Debt recovery agencies attempt to recover a debt from a person or business that is struggling to pay their creditors on time (or in some cases, not paying at all). It’s a classic example of “borrowing from Peter to pay Paul”, which historically has resulted in higher than average charge backs for the debt recovery industry.

We understand how critical it is for all businesses – including collection agencies – to be able to accept credit cards as payment from their clients. This is why we’ve established relationships with a variety of credit card processing banks that service the debt collection industry.

How can we help?

  • If you’re currently processing credit cards for debt recovery, there is an excellent chance we can save you money by lowering the rates you are paying.
  • If your collection agency is new, we can assist you in setting up dependable credit card processing services.

U.S. Debt Collection Agencies: APPLY HERE.

Additional questions? Fill out our ONLINE FORM.

There are number of risk factors that can affect your application for a merchant account for your debt recovery agency.

First is your business model. Processors look at the type of services you provide; how your business promotes & publicizes its offerings; the type of customer care proffered; and the value associated with your services. In the event your business model is seen as risky from the processor’s perspective, your enterprise will need to set up the credit card merchant account by utilizing a provider that welcomes merchants with ‘risky’ businesses.

Second is the likelihood of charge backs your debt collection business venture might encounter. Why are chargebacks a possible problem? Well, in case your card processing company permits a merchant to carry on accepting credit cards while experiencing a higher chargeback ratio than is approved by the credit card associations, it can be subject to heavy penalties. And on top of that, if the merchant has a great number of chargebacks but cannot deal with the ensuing debt, the processing bank must do so.

Third, it goes without saying that when you already have a pretty good processing history, you will enjoy a lot more influence concerning negotiating processing rates and fees with the credit card merchant account company. But even if your venture is determined to be risky, you can still get competitive fees, based on your reasonable track record.

Howevr, even if your debt recovery agency business has a weak processing profile, you may still be alright, but it may well be more of a struggle to get approved. And if your collection business is fortunate enough to get approved, you will likely be assessed greater than normal credit card processing fees and charges.

Also, due to the elevated prospect of fraudulent activities, a good number of high-risk merchant credit card accounts contain special provisions such as funding delays, cash reserves, and possibly limits on processing volume.

Your Next Step:

Here at The Transaction Group we understand the difficulties with which decision makers have to cope when trying to locate a responsible credit card processing partner. One size doesn’t fit all when dealing with high risk processing for debt collection agencies. For this reason our company has developed multiple connections with credit card processors in order to be certain that we can identify the best suited merchant service for your specific enterprise.

To begin accepting credit and debit cards at your debt recovery business without delay, or for more information concerning applying for a merchant account so that you can enjoy credit card processing, you can click on the appropriate link below:

US/Domestic collection agency businesses:  APPLY HERE

Need more information? Use our ONLINE FORM

Updating Your Checking Account with Merchant Services

Thursday, July 28th, 2011

If you have recently opened a new checking account and you want to update your merchant services provider, simply follow these easy steps:

1)    Contact your processor and tell them you need to update your checking account information. If you don’t remember the processor’s name or phone number, it’s not a problem. You should be receiving a statement each month via mail or email that lists all of the transactions you processed and fees you paid for the previous month. The name and phone number of your merchant services provider should be on that statement.

2)   Your processor will probably send you a form that you need to sign requesting the checking account change. You’ll most likely be required to fax or email back a copy of a voided check from your new account along with the signed request form.

3)    In order to update your checking account with your processor, you’re going to need a copy of a new check, with your business name printed on it. Most processors will not accept starter checks but will accept a letter from your bank as a substitute. If you can’t wait for your printed checks to arrive, get a letter from your bank. The letter should be typed on bank letterhead, signed by a bank representative, and confirm the following information: business name on account, account and routing numbers. Most processors will tell you the update will take 3-4 business days. If you don’t see funds settling into the new account within a week, give them a follow up call.

4)   If you’re an ecommerce merchant or if you use a payment gateway as part of your credit card processing solution, be sure to update your payment gateway as well. Most processors will not do this for you as the gateway is usually provided by a third party like Authorize Net. Most payment gateways will allow you to update the gateway billing information yourself just by logging into your account. Contact your specific gateway provider for more information.

Credit Card Processing for Multi-level Network Marketing | MLM

Tuesday, July 26th, 2011

Legitimate and successful companies such as Avon, Amway, and Herbalife use multi level marketing as a strategy to promote and sell their products and services. (Referral marketing and network marketing are other terms that refer to MLM type businesses.)

Even though MLM businesses have been around since the mid 1940’s, they are still seen as possessing a ‘high risk’ nature. Due to this high risk label, it can be challenging for multilevel marketing businesses to obtain reliable credit card processing and merchant account services.

But we can help.

We specialize in setting up network marketing businesses so that you can process credit card transactions for starter kits; product sales; training materials; billing for minimum sales requirements; and membership fees.

We offer credit card processing solutions for both ecommerce and face to face network and multilevel marketing businesses.

If you’re not sure what type of solution you need, contact us today & we’ll be more than happy to assist you.

U.S./Domestic MLM Businesses:  APPLY HERE.

International MLM businesses:  APPLY HERE.

Fill out our ONLINE FORM & we’ll contact you.

How Your MLM Business Model Affects Risk:

One of the primary variables which will affect the level of risk associated with processing credit and debit cards for use in your MLM business is typically your current ‘business model’. Exactly what can make up one’s business model?

  • the services you offer/ the merchandise you provide
  • specifically, how you promote & publicize your commercial enterprise
  • one’s service or product shipping procedures
  • the purchase price attached to your products or services

If your business model falls among the classifications which debit and credit card merchant account providers see as ‘risky’, you’ll want to arrange your processing account through a processor that welcomes merchants with higher risk business models.

Previous Processing History:

Should you happen to have a very good existing processing history, you will end up with a lot more power in relation to bargaining for credit card processing rates.

But even if your multilevel marketing company owns an unfavorable credit card processing profile, your business may still qualify for a merchant account, but it may be more of an undertaking to get approved. And in case you are fortunate enough to be approved, you’ll likely be subjected to a higher processing fee.

Other Risk Variables:

Additionally, the expected level of your chargebacks may well be a crucial facet related to figuring out the risk of your network marketing business. Other variables which often can influence the question of whether or not  your referral marketing operation could be evaluated as being high risk are your personal credit history, your selling systems, whether your products have a high average ticket price, and whether your products are membership based or utilize repeated billing options (as is usually the case with MLM businesses).

In addition to higher than average discount rates and fees, most high-risk merchant services impose extra conditions and terms on their high risk merchants. These may include payment delays, reserve periods, and limits on sales volume.

Your Next Step:

We understand the obstacles which multilevel marketers face when looking to locate credit card processing services. There are no cookie-cutter solutions in the high-risk merchant services sector, and so we have developed multiple associations with credit card processors. This helps to ensure that we can locate the most suitable service for your specific business.

To start processing credit cards today for your network marketing business, or to learn more with regards to getting an MLM merchant account, feel free to click on one of the links below:

U.S./Domestic MLM Businesses:  APPLY HERE.

International MLM businesses:  APPLY HERE.

Fill out our ONLINE FORM & we’ll contact you.

Multifamily Financing | Multi Family Mortgage Loans

Tuesday, July 19th, 2011

If you are in the market for a multifamily mortgage or perhaps a refinancing of your existing multifamily loan, our commercial lending partner can help.

As part of an apartment properties lending institution that operates across the U.S., it can provide you with a variety of customized and affordable multi family loan options.

Apartment mortgage loan packages can incorporate and include REITs, institutional investments, select banks, HUD FHA insured, and of course both Fannie Mae and Freddie Mac.

Contact us here for more information


Call us at 888-383-8056

Advantages of CLD Multifamily Loans

Our partner will help arrange mortgage-backed commercial loans for properties throughout the country. You’ll pay absolutely no application fees, nor will you be assessed any lender points.

Even more significantly, as a result of their unique business structure, it operates using a less costly framework. This means their apartment loan customers benefit through obtaining market low interest rates – along with low closing costs. You can take advantage of its broad expertise in underwriting and closing commercial financings, combined with an ultra modern web-based lending platform.

Products and Solutions:

Our lender works with a 3-level lending structure for its rental housing mortgage loans. This is comprised of small, medium and large mortgages.

As mentioned above, multifamily loan offerings include Fannie Mae, FHA, wholesale, and conduit financings.

Other Forms of Loan Options Available:

In addition to apartment loans, our lender has a variety of other commercial lending options available to property owners, including bridge loans, commercial construction loans, SBA loans, USDA loans, equipment loans, inventory financing, refinancing, and factoring.

Information and Application:

To begin the application process, or if you have questions related to qualifying for a multifamily mortgage loan:


Contact us here for more information


Call us at 888-383-8056

High Volume Credit Card Processing | Batch Processing

Friday, July 15th, 2011

We offer high volume credit card processing solutions for internet and traditional merchants who process a large amount of credit cards transactions. Additionally, we can arrange high volume batch processing merchant accounts for businesses that process all of their credit card transactions at one time or on a recurring basis.

Our processing services include, but are not limited to:

– property management companies that process rent payments

– health clubs and gyms that charge a recurring membership fee

– subscription billing services like magazines

– product of the month clubs that use recurring bill on a monthly, quarterly or annual basis

– internet marketers that have large swings in credit card processing volume

Our high volume credit card processing accounts include online transaction reporting, 24/7 customer service, and technical support. In house payment gateway support with custom integration and programming is also available as needed.

Whether your business is US based or International, we have a high volume credit card processing solution to meet your need. We offer excellent rates for new businesses – and huge savings for merchants that are currently processing credit cards.

Questions? Call us today at .

High Volume US Merchants: APPLY HERE.

High Volume International Merchants: APPLY HERE.

Need more information? Fill out our ONLINE FORM.