A Merchant Account For Auto And Home Warranties
Auto and Home Warranty businesses consist of offering customers renewals in annual contracts and auto and home warranties. The auto warranty industry is expected to reach $295 billion by 2030. Many businesses in this industry offer extended warranties to car owners so they may avoid additional repairs or costs due to mechanical flaws. These businesses offer their warranty services once original warranties expire and these are extended warranties.
Any business that offers its customers the option to use payment options such as debit cards or credit cards has a valuable advantage. Hence having a merchant account with the correct service provider is essential.
As a business owner of a business for auto and home warranty services, it is important to have a retail merchant account. However, these businesses are viewed as high risk due to examples such as chargeback ratios which results in many banks and payment processors denying businesses and not offering them a merchant account.
The extended warranty industry and being high risk:
The extended warranty industry is considered to be high-risk industry due to its high chance of loss exposure. They also have a high chargeback ratio in terms of the comparison between high-risk vs. low-risk ventures.
When a customer buys an extended warranty using their credit card or debit card, there is a possibility if they are unsatisfied with the services, they will request a chargeback. When there are multiple chargebacks it is seen as a financial risk on the credit card processor which is why they may deny merchant accounts for these businesses.
Why choose a high-risk merchant account?
Choosing a high risk merchant account enables your business to accept and process credit card and debit card payments. Our business has experience and understands the challenges of high risk businesses
Our High Risk Merchant account Processing services generally include
- A virtual terminal
- Easy to use interface
- A fraud detection program
- Fast set up
- Easy installation process
- Lowest possible rates in the industry
- No application fees
- No set-up fees
- High approval rates
- No deposit required
- 24/7 support – Merchant and Customer
- No hidden charges
Why pick us over our competitors?
We are an experienced merchant account provider that prides ourself on the positive rapport that we share with our clients. Our friendly customer service team can be contacted any time 24/7 to help resolve any questions or concerns you may have. We specialize in offering high risk credit card processing for your industry. We have been doing it for years and we offer the best deals for high risk merchants at the lowest rates
Our company offers competitive rates to companies that are considered high or low risk in addition to:
- Free set up process
- Impeccable customer service
- 100% support throughout your application process
- Competitive and low fees
Along with outstanding technical support staff we provide reliable equipment and will have your business set up in a timely manner. Once you are set up you will then be able to run your business and provide services. In addition we are available 24/7 for all your support and technical needs.
