The weather isn't the only thing that changes quickly, like in business, our world of payment processing has shifted like the climate and forcing payment processors and merchants into a land of uncertainty. The picture above of Michael Jordan failing over and over is how High Risk business owners are feeling when trying to find credit card processing for their businesses.
Operation Choke Point has tighten the reigns on processors for sure, limiting banks that would normally take on risks for these hard to place business types. The US Department of Justice is pressuring the financial industry to cut off the companies' access to banking services, and other companies believed to be at higher risk for fraud and money laundering.
Payment Processors, MSP's and ISO's are searching for new banks and solutions to place businesses that in the past were able to get these accounts approved. Now certain business types are having a hard time finding a merchant account these days and at times applying for multiple accounts hoping someone will approve them.
Having a specialized account manager that has Michael Jordan's belief that failing and not giving up is the only way to be successful for everyone involved. Contact me and let's talk about your business, and payment needs and reach our ultimate goal.
Have a great day!
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