Credit Card Processor for Student Loan Modification
One of the most defaulted loans of all time is student loans as students find it tough to make the payments in time. They look for various avenues such as consolidated payments or extended periods to be able to make their payments, but then, these result in some compensation fee which can make the current amount even higher and harder to pay off. Many students are also unaware of programs that assist them in getting their student loans forgiven, but that's a separate issue.
If you own a business that provides students with loans so that they can complete their studies, then you must be well aware of the risks associated with the industry, which is why you are considered as a high-risk merchant. Students are liable to make late payments or even try various ways to get out of it, so collecting these payments is a task in itself. Therefore, when a student is offering to make their payments via credit cards, you have to accept them as it is necessary for you to accept all forms of payments or handle the setbacks associated with it.
Being in the student loan modification business, you are required to handle many payments being made by students. Just imagine the thousands of students who have taken students loans and a portion of those are your clients, which makes it difficult to handle credit card payments alone. Now you do not need to worry about managing these payments yourself; all you need to do is open up a merchant account for student loan modification.
It is our goal to make the entire payment process easy for your business and clients. Through us, your customers get a wide range of options to make their student loan payments. These include the likes of loan consolidation, new loans with lower interest rates, and an extension of the loans. Through this account, we can make your and your client's business partnership stronger and simpler to handle.
Online Merchant Gateway Card Not Present MOTO
With the advancement of technology, more and more students are becoming more dependent on making payments from the comfort of their home rather than coming to the outlet to make the payment. The world is also becoming highly dependent on making payments via credit cards as fewer people carry cash with themselves now. If your business is not updated with the latest technology, you will lose out on a lot of potential and existing customers as they might look to switch to other merchants who offer these services.
Your business does not need to worry about the security of your data and clients' information. Our gateway setups are highly secure, and the virtual terminal is one of the best. We also offer Android and iPhone apps for the ease of your customers and your business to process the payments. We accept various types of credit cards, and the process of making these payments is very easy and quite simple.
Closed, Denied, Cancelled or Shut Off by Other Credit Card Processors?
There is a huge risk involved in this industry. The reason for this is that many students have the tendency of defaulting on their payments. This is the number one reason why banks and other payment processing services refuse to provide merchant accounts to student loan modification businesses, which is why you are required to look for other options. Even if such services agree to open an account for your business, there is a huge possibility that they will shut off your account without any reason or notice. This will cause disruptions in your business transactions, and many clients who are willing to pay at that moment will then be turned away.
Opening up your account with us is a good deal for you as we will never turn our backs on your business. We ensure smooth transactions and a great setup that allows you to process your payments with ease. You will never see us shutting off your account because you are a high-risk merchant; we will serve you equally well.
New business and Startups with No History OK
When your business is a new setup in this industry, you will realize that you are a high-risk client. Adding the fact that your firm does not have any credit history or rating, it becomes difficult for other services to judge your businesses potential. Due to this reason, your business is termed riskier and is usually rejected by other service providers. However, we understand your need for a merchant account and are here to provide our top quality services. You will be able to process your payments quickly and accept various forms of payment being offered by clients.
Domestic and offshore options
There are many businesses in this industry that operate on a global level, offering loans to students from all over the world. This increases the difficulty of collecting and processing payments coming in every day. If your business also operates on a global level, then you do not need to worry about looking for a different service provider for global collections. We have some of the finest payment gateways that you can imagine. One thing that we would like to highlight in this situation is that the rates for global accounts vary as the risks associated with them are higher than with locally operating companies. Domestic accounts have lower rates as they are in the same location and require a simpler setup than global accounts. For your convenience, we offer both domestic and offshore accounts so that you can choose as per your need.
It's not an easy task to collect payment from students and we realize that fact, which is why we ensure that you have the best services. No setup fees are required, and we do not accept any application fees either. Our rates are highly market competitive, and our payment gateways and terminals are some of the best you will find. If you would like to get an answer to your queries, feel free to contact us anytime.