Accept Prepaid Cards with MerchantWorthy.com
Do prepaid credit cards and/or prepaid debit cards account for more than 50% of your business’ credit card processing volume? If so, you may be considered a “restricted” merchant by credit card companies and carry a “high risk merchant” status. Research shows that prepaid cards are the most rapidly growing form of electronic payment. In fact, in 2011, consumers charged $57 billion dollars onto prepaid cards, a number that is expected to increase to $82 billion in 2012 and $117 billion in 2013. These numbers reflect a 200% usage increase in just three years. Most commonly used as an alternative checking account, a means to pay a child’s allowance or an alternative check-cashing tool, it is not surprising that the booming prepaid card industry is associated with fraudulent and unsuccessful transactions. This leads to potential chargebacks and ultimately the “high risk” label.
If you have been turned down for processing because your business accepts a high volume of prepaid cards, Merchantworthy can approve your account, even if you accept 100% prepaid cards. We provide high risk businesses with a variety of services, including credit card processing services, cash advances, online payment assistance and more. Our online payment system offers an online gateway and virtual terminals for your account. Merchantworthy also offers chargeback insurance on all transactions to cover customer disputes or returns on service or merchandise. Plus, whether you are a merchant doing business in the US or abroad, Merchantworthy can help you open a reliable offshore merchant account.
What’s more, if your account has been terminated and you need emergency risk merchant account activation, Merchantworthy can have your account processed within 24 to 48 hours, right over the phone. We’ll walk you through every step and explain every option. Call us today for professional prepaid credit card merchant services. Merchantworthy will help you get back on track fast with products that will make your credit card transactions seamless and efficient!