PPI merchant accounts

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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.

PPI credit card processing

With the deadline for making a PPI claim looming, claims companies have never been busier, rushing to make the most of the market before August 2019. PPI businesses can find it tricky to obtain a merchant account because of the ‘high risk’ label that is associated with the industry.


Why are PPI businesses deemed high risk?

PPI companies are classed as high risk due to historic industry related chargebacks and also an increased chance of fraud. Most high street banks and merchant account providers will not supply merchant accounts for PPI companies, who will potentially be suing them, making it incredibly difficult to obtain an account.

PPI payment gateways

PPI businesses often take payments with the customer not present, known as MOTO, this can be done via a virtual terminal. PPI virtual terminals work in a similar way to an online check out. Customer card details are entered for payment using the long card number, expiry date, and security code. This is supported by both a merchant account and a PPI payment gateway. The gateway acts as a security net encrypting customers card details, to ensure they remain safe.


Changing PPI merchant accounts

A lot of business owners feel it’s unnecessary to change merchant account provider, especially with the new deadline for claims coming in soon (29th August 2019.) However, the benefits outweigh a short application process;

  • Changing accounts with an industry expert will be seamless, often taking a lot less time than you would think.
  • Account fees are negotiable, let us do the hard work for you, our advisors will negotiate on your behalf using your current transaction statements to ensure you save money, with your new provider.
  • Although the deadline for claiming is 29th August, the length of time it takes to process the complaints can take up to 16 weeks, make the most of each and every claim by maximizing profit and reducing high fees.
  • Pay by link invoicing can help speed up client processes and save time in chasing late invoices.

Frequently asked questions…

Would a PPI business be better to use an offshore merchant account?

This is a common question, there are offshore accounts available to PPI businesses however UK acquiring banks often offer better rates than offshore provider’s and more security too. It’s important to look at all options available to you, prior to making a decision which merchant account you open.

How long would it take to change PPI merchant account providers?

Changing providers doesn’t take long, the average turnaround time is between 7-10 working days. Dealing with an experienced advisor will ensure your application is packaged correctly and therefore make the transition a smooth process.

When will PPI funds be received?

Settling funds can be received between 2-3 days. This is an important factor to bear in mind when choosing a merchant account for PPI businesses.


I’ve experienced high chargebacks with my PPI business – can I find a new account?

Keeping your chargeback rate as low as possible is essential when running a high risk merchant account. If you are searching for a new provider and have a chargeback rate of 2% or less our advisors can help.


Merchant Advice Service work closely with a team of UK based experts to provide support for PPI companies changing merchant accounts. For most businesses moving accounts saves money on transactions, meaning increased profit margin with little effort.

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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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