Chip and Pin Machine with adverse credit

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Libby James
Merchant Services Expert

Libby James is co-founder, director and an expert in all things merchant services. Libby is the go-to specialist for business with more complex requirements or businesses that are struggling to find a provider that will accept them. Libby is regularly cited in trade, national and international media.

Chip And PIN Machines For Merchants With Adverse Credit

In today’s digital era, businesses need to adapt to changing customer payment preferences. Chip and PIN machines have become key devices that allow merchants to accept card payments securely and conveniently. However, merchants with adverse credit may worry about their eligibility to acquire such machines. At Merchant Advice Service, we understand your concerns and are here to provide you with an informative guide on chip and PIN machines, tailored to merchants with adverse credit.

Understanding Chip and PIN Machines

What is a Chip and PIN Machine? 

 

A chip and PIN machine, also known as a card payment terminal, is a device that enables businesses to process debit and credit card payments. It consists of two primary components: a card reader and a PIN pad. The card works by reading the information stored on the chip of a customer’s card, while the PIN pad allows customers to securely enter their PIN for authentication. 

 

How Does a Chip and PIN Machine Work? 

 

When a customer makes a payment using a chip and PIN machine, the transaction follows these steps: 

  • The customer put their card into the machine. 
  • The machine reads the data stored on the chip and requests the customer to enter their unique PIN. 
  • The entered PIN is encrypted and sent to the card issuer for verification. 
  • If the PIN is correct and funds are available, the payment is authorised, and the transaction is complete. 
  • A receipt is printed or emailed to the customer, finalising the purchase.

Obtaining a Chip and PIN Machine with Adverse Credit

Can Merchants with Adverse Credit Get a Chip and PIN Machine? 

 

Yes, merchants with adverse credit can still obtain a chip and PIN machine. Traditional financial institutions may be hesitant to provide services to businesses with poor credit histories. However, at Merchant, we have partnered with a network of specialist providers who cater specifically to merchants with adverse credit.



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How to Apply for a Chip and PIN Machine with Adverse Credit

Applying for a chip and PIN machine with adverse credit can be a straightforward process with our help. Here are the steps involved: 

 

Contact us: Get in touch with our team of experts. 

 

Consultation: Our knowledgeable advisors will understand your requirements and assess your credit situation. 

 

Provider Selection: Based on your needs and credit history, we will connect you with a suitable specialist provider from our network. 

 

Application Assistance: Our team will guide you through the application process, helping you provide the necessary information and documentation. 

 

Approval and Installation: Once your application is approved, you can proceed with the installation of your chip and PIN machine and start accepting card payments.



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Frequently Asked Questions (FAQs)

A business owners guide
Can I get a chip and PIN machine if I have a poor credit score?
Yes, at MAS we work with specialist providers who assist merchants with adverse credit in obtaining chip and PIN machines.
Will my poor credit history affect the fees and rates associated with the machine?
While adverse credit may influence the fees and rates offered, our specialist providers strive to find competitive solutions tailored to your circumstances.
Are there any limitations on the types of cards I can accept with a chip and PIN machine?
Chip and PIN machines generally support all major debit and credit cards.
Does it take long to get approved for a chip and PIN machine with adverse credit?
The approval process can vary depending on factors such as the provider and your application. However, our team works diligently to expedite the process as much as possible.
What happens if my application for a chip and PIN machine is declined?
If your application is declined, we can explore alternative options and provide guidance on improving your creditworthiness for future applications.
Can I switch to a different chip and PIN machine provider if my credit improves?
Yes, it is possible to switch to a different chip and PIN machine provider if your credit improves. Our team can assist you in finding a more suitable provider based on your updated credit situation.
Will having a chip and PIN machine help improve my credit score?
Having a chip and PIN machine itself does not directly impact your credit score. However, responsibly managing your business’s finances, including timely repayments, can contribute positively to your credit history over time.
What ongoing support is available after obtaining a chip and PIN machine?
At MAS, we provide ongoing support to our clients, including assistance with technical issues, troubleshooting, and guidance on optimising your payment processing setup.

Applications process for credit card machines, when you have adverse credit

At Merchant Advice Service, we specialise in assisting merchants with adverse credit in obtaining chip and PIN machines. Our extensive network of specialist providers enables us to find solutions tailored to your specific situation. To find out more about how we can help you, visit our Chip and PIN Machine with Adverse Credit page. For more advice like this, visit our blog page!

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Conclusion

For business owners navigating the complexities of merchant service options, especially those with bad credit, the journey can seem daunting. However, Merchant Advice Service offers a lifeline, particularly for small businesses in need of chip and PIN machines. With their extensive network of specialist providers, they can help you find a merchant account with bad credit, allowing you to join the ranks of businesses accepting cards.

 

While traditional payment processors might shy away from high-risk merchant accounts or those with a poor credit report, Merchant Advice Service aims to find competitive solutions tailored to your unique circumstances. Their support extends beyond just setting you up; they offer ongoing assistance to help you optimise your payment processing setup, whether it’s for online payments or in-store transactions.

 

So, if you’re looking to process payments without the hindrance of a long-term, restrictive contract, Merchant Advice Service could be your go-to resource. Their expertise can guide you through the maze of credit check merchant accounts and credit card processing options, helping you make informed decisions for the long term.

 

By taking advantage of our services, you’re not just acquiring a chip and PIN machine; you’re also gaining a partner committed to helping you improve your business operations and potentially your credit history over time.

 

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Libby James

Libby James Co-founded Merchant Advice Service alongside David Bird in 2016. Her finance background, coupled with retail and customer service experience, gave Libby the drive to bring transparency and non-biased advice to the world of merchant services. Having come from the heavily regulated mortgage and insurance industry, Libby found it puzzling that other financial sectors lacked regulation and transparency leaving customers confused and unable to make informed decisions when it came to accepting card payments. This was soon to become Libby’s obsession!

With the help of some of the industry’s best, Libby began to research acquiring banks, complex terminology/regulation, and the problems customers experience within merchant services and payment gateway markets. She spent years on sourcing solutions for complex clients, which previously others were unable to assist with. Libby established relationships with brokers and banks which would soon form the cornerstone of Merchant Advice Service. As a result Libby has been featured in high-profile publications across the web.

Libby is proud to be the entrepreneur’s champion, supporting start-up businesses regularly. Her industry insights can often be found on LinkedIn where she provides free of charge advice and money saving pointers. It’s safe to say she has her finger on the pulse of everything card payments related.

Libby speaks of her experience in founding and running Merchant Advice Service…

‘Merchant Advice Service is one of my greatest achievements to date. We help business owners to overcome card processing issues which can become detrimental to their business. We assist SME’s in finding suitable card payments solutions, helping them create their vision. Each and every day is different, exciting and fore filling. As technology advances I can’t wait to see the way in which the merchant services market advances, and I’m pleased that our business will play a part in educating company owners along the way.’

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