In order for your business accepts payments by credit or debit card, you'll need a merchant account to accept them. Typically merchants need to apply for such a facility directly to a bank.
Paycorp is able to offer Merchant facility/Accounts whether you are looking to support a face to face, mail order, website or any combination for all card types(Visa, MasterCard and AMEX). Payments are received into your merchant account and can later be transferred to another business bank account of choice.
Paycorp also works with selected industry verticals to deliver merchant acquiring solutions that would normally be unachievable using conventional acquiring models. If your a large organisation with the requirement to issue individual merchant facilities to underlying entities (such as Gyms, associated clubs, divisional branches) then this solution may be for you.
Through leveraging Paycorp's status as a TPP (third party processor) we can assist you in achieving highly complex acquiring models that result in centralised management and reconciliation for both individual small merchants and their related parent.
What is pre-payment exposure?
The time that it takes a business to deliver the product or service to their customer is known as Pre-Payment Exposure
Why are banks Super Sensitive about pre payment exposure?
The fact that goods and services are not delivered until a later date results in a higher risk formula which the bank uses to asses the merchant application. Typically the only way to sucessfully obtain a merchant facility in this case is to supply tangible security which typically takes on the form of cash term deposits or other types of bank guarantee
How can we help?
Our expert pre payment consultants have assisted businesses in obtaining a merchant facility in these high risk scenarios. If you would like to speak to someone about how to reduce the risk associated with your online business feel free to call us.