Financial services merchant accounts

Merchant accounts for financial services businesses

Unlike most financial service related businesses, merchant services are unregulated. Meaning sourcing the correct merchant account or payment gateway can be confusing, with conflicting information and fees. Coming from a financial background ourselves, we wanted to illuminate the associated confusion when finding the best merchant accounts for financial companies.

Card processing for financial businesses

Although, as previously explained, merchant services are an unregulated industry the company which requires card processing will more than likely have strict rules to abide by such as compliance and data protection, therefore the way you handle sensitive data when accepting card payments is crucial. If you are taking payments in person this is relatively straight forward, however if you wish to take reoccurring payments or online subscriptions and fees this becomes a little more complex.


Merchant banking financial services and payment gateways

Depending on the set up of your company, you may wish to accept payments online – this can be done via e-billing or through a standard shopping cart. Either way you need to make sure you use a company with at least a level one when it comes to PCI Compliance.


Merchant services finance payment gateways

When searching for the best payment gateways to use for your finance company it’s important to have the following;

PCI Compliance – we suggest using a provider with at least a level one when it comes to compliance. They will work with you when it comes to gaining compliance in the first place and maintaining it.

Integrations –  some merchant account providers and banks will integrate with your website and additional software, making processing a little more secure

Reliability – if your business works 24/7 then you need a reliable payment gateway that won’t let you down at the point of sale – ask about this before applying! Often cheap means less reliable.

Fraud prevention – in financial industries fraud and money laundering are a constant threat. The best payment gateways find the balance between running efficiently without declining genuine transactions but also detecting the fraudulent ones.

Currency – if you are looking at accepting payments such as; Bitcoin or cryptocurrency, ApplePay or additional vouchers, let your advisor know – not all providers will accept payments beyond credit and debit cards.


How Merchant Advice Service can help

We work with industry experts who deal with financial merchant services applications on a daily basis. If you require any of the following get in touch to see how we can help your business now and in the future;

  • Merchant account for financial businesses, including face to face payments on chip and pin machines or via a virtual terminal
  • Reoccurring payments for financial merchants such as premium payments or subscriptions
  • E-billing, making invoicing clients and large companies straight forward
  • International financial service merchant accounts, although we are UK based, our advisors have access to over 360 merchant accounts and payment gateway combinations worldwide.

Card processing within finance industries


What most businesses do not know is that merchant account rates are negotiable. Meaning that if you have had a quote or have a current transaction statement we can use this to your advantage to set rates elsewhere.


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