Currency Exchange Merchant Account
Currency exchange merchant accounts allow currency exchange businesses to process online credit card transactions. Currency exchange providers are among many merchant industries labeled as high-risk by banks and credit providers. A high-risk status, specifically in the currency exchange industry, can prevent merchants from receiving vital business-development services. These services may include loans, credit card processing equipment, and more. At MerchantWorthy.com, we understand the importance of these services and specialize in providing them to high-risk merchants.
Due to the international conversions and large sums being transferred, currency exchange providers are often faced with high chargeback rates. A high chargeback rate is often grounds for termination from many high-risk merchant service providers. MerchantWorthy.com services include the High Risk Merchant Reserve, cash held back from your available post-clearing funds. With this reserve, funds will always remain available to cover chargebacks and other unexpected losses.
Currency exchange providers may sell a specific amount of their site’s credit card sales to receive payment now through our Merchant Cash Advance service. Rather than loaning these funds, MerchantWorthy.com considers them early payment of future credit card receivables. Because an advance is your investment in your own business, MerchantWorthy.com does not place restrictions on the use of these funds.