Credit Repair has gained major popularity in the US in the past decade. As a result, it is driving more business than ever before. Therefore, the necessity for a credit repair merchant account is at its peak. Credit repair companies assist individuals with poor credit increase their credit score. Above all, they help educating people about good credit practices. Moreover, give individuals the opportunity to access a variety of credit and financial services.
Although credit repair companies’ help to the people and the economy, many processing banks categorize this unique industry as high-risk. As a result, these banks prevent many credit repair business owners from accepting payments. As a result, pushing business owners to find an alternative payment solution.
Merchant Services for Credit Repair Companies
MagicPay has been offering high risk merchant accounts since its foundation. Above all, we streamline the payment processing experience for credit restoration. To clarify, the processing platform integrates with all major Credit Restoration Software providers.
The Credit Repair merchant application process is simple and straight-forward. Moreover, It is accessible 100% online. After that, the approval process usually takes 1-3 business days. Additionally the merchant account is designed for high risk merchants. Certainly allowing a bit more Chargeback tolerance, as expected, in the credit restoration industry.
Majority of traditional payment processors, such as PayPal™ and Stripe™, unable to support credit repair merchants. Generally, it is against their terms and conditions to allow credit repair businesses to accept debit or credit cards. Still, there are many credit restoration companies using such providers. Most have been simply unnoticed. Once noticed, traditional payment processors would terminate the merchant account and notify the merchant to find another processor. Stories about merchants’ funds being held by traditional processors still happen today. The easy solution is to find a specialized credit restoration merchant account processor, such as MagicPay.
Processing with a Trusted Credit Repair Payment Processor
All businesses, including credit repair companies, must have a reliable and affordable payment processing system. With MagicPay, the convenience of having a streamlined and advanced credit repair merchant processing account is at your finger-tips. Having your account approved by our credit repair underwriting team is easy. We understand your business and provide you with an easy and reliable payment processing for credit repair. The system is designed for credit restoration companies. The payment gateway provides the ability to setup recurring billing for credit repair through the MagicPay gateway. MagicPay also integrates through a third-party billing software company such as ChargeBee™, BillsBy™ or Recurly™.
The high-risk merchant account for credit repair is programmable to work with any credit repair software. Moreover, some of the software companies we work with are: Credit Repair Cloud™, DisputeBee™, TurboDispute™, Credit Money Machine™. Credit Admiral Software™, ScoreCEO™, DisputeFox™, DisputeSuite™ and many others. Our developers constantly work on new payment integrations for high risk merchant accounts. In certainty, to ensure our payment gateway is always up-to-date with the latest technology.
Types of Credit Repair Merchant Services
Every credit repair company is unique. Above all, each company is servicing different demographics, individuals, and specializes in different disputes. MagicPay specializes in merchant account services for all types of credit repair and restoration companies, such as:
- Monthly Recurring Credit Repair Service
- Pay Per Deletion Program
- Flat Rate Program
- Debt Consolidation Services
- Business Credit
- Student Loan Modification
- Debt Settlement Services
Consider MagicPay for your Credit Repair Merchant Processor
MagicPay was made for merchants, by merchants. As a result, we understand and value your business. Our dashboard, reports, payment gateway and dispute management process is designed with you in mind. Moreover, we know your time is valuable. So, we bring you a fully-ready credit repair merchant account, with access to all details at your finger-tips. Whether you are processing transansactions online, through our online payment gateway, or through on of our EMV credit card machines, certainly, the platform is strong and stable to provide effective services. Below you would find just a few of the reasons how MagicPay is a leader in the merchant processing industry:
- Acquiring & Sponsoring Banks – MagicPay works with a variety of acquiring banks for high risk merchant accounts that accept credit restoration merchants, giving us a flexible placement solution for any processing scenario.
- Chargeback Dispute & Monitoring – Our online dashboard gives you access to view Chargebacks, dispute them and win them, all done online, eaisly and securely. We email and update card-brand dispute responses instantly. The messages are available on the online dashboard. The dashboard is giving you easy access to card-issuer messages and acquirer responses on the spot.
- Specialty in high-risk merchant accounts – MagicPay works with a variety of high-risk industries. Industries we serve include many other financial services and credit repair, credit restoration companies, collection agencies, debt settlement companies and student loan modification providers.
- First-Class Merchant Support – Our team includes professionals with plenty of merchant processing experience. Our tech support experts have been servicing the industry for decades. The staff members are certified and trained to help you resolve any issues. Most importantly, answering your call every time. MagicPay’s team is here to help you get the most out of your credit repair merchant account. Lastly – your account manager would be able to help you and guide you with any potential service interruptions.
Apply for a Credit Repair Merchant Account
MagicPay’s high-risk application is easy and friendly. We understand your time is precious and that you are not a merchant account expert. Certainly, our online application is a user-friendly platform that anyone with a mobile phone can fill out. It is a step-by-step application process. To clarify, we only take from you the really necessary information to getting your account approved.
Merchant Account Specialist
MagicPay will assign you a merchant account specialist. The specialist will walk you through the merchant application. After that, the account manager will help you process and complete the application quickly. The representative would also send you a follow-up email with the necessary documents. These documents are essential for having your account setup and approved by our in-house underwriting team.
Once your credit repair merchant account is approved, subsequently you will receive an email and a phone call from your account manager. That is to say, the executive will help you setup your payment gateway. Additionally, if necessary, the executive will connect it to your favorite Credit Repair Software. Most importantly, the representative will train you on how to perform your first payment!