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The #1 Mid Risk Payment Processor

Overview

The #1 Choice For Mid Risk Credit Card Processing.

Why Are We #1? Because every client gets three guarantees (whether you sell online, over the phone, or in a retail location):

  1. Instant Online Quote.
    When you submit your application, you’ll get an instant price quote to DocuSign. No offline paperwork, no faxes, no waiting.
  2. Industry Minimum Pricing.
    You will automatically receive Industry Minimum Pricing in your online quote. No more frustrating haggling with sales reps.
  3. Friendly Client Support.
    When you call or email, you’ll always speak with our friendly, in-house client support team.

Many merchants are familiar with the term “high risk” as it pertains to their credit card processing, but are unfamiliar with the “mid risk” classification. Essentially, merchants classified as “mid risk” may have one or more of the following characteristics:

  1. irregular or very high-ticket sales;
  2. in an industry with a history of high chargebacks;
  3. in an industry that large banks are “politically” unwilling to support; or
  4. in a highly regulated industry.

The difference between the two classifications is usually one of degree. For instance, a slightly-higher-than-average chargeback ratio may mean a business cannot be classified as “low risk,” but the business otherwise has “low risk” merchant characteristics; so rather than classifying the business as “high risk,” SoarPay can extend “mid risk” pricing to these types of merchants, therefore saving the merchant on monthly fees.

Many payment processors do not bother with the distinction between high risk and mid risk merchant accounts, but SoarPay does so in able to deliver our Industry Minimum Pricing.

What Industries Are Considered Mid Risk?

The following industries may be considered mid risk OR high risk; the ultimate classification is specific to each business, and is dependent upon many factors including method of sale (phone, Internet, in-person retail, etc.) as well as chargeback rate, account history, and so on.

That said, the following industries contain many businesses which are classified as mid risk or high risk:

Many merchants are familiar with the term “high risk” as it pertains to their credit card processing, but are unfamiliar with the “mid risk” classification. Essentially, merchants classified as “mid risk” may have one or more of the following characteristics:

  1. irregular or very high-ticket sales;
  2. in an industry with a history of high chargebacks;
  3. in an industry that large banks are “politically” unwilling to support; or
  4. in a highly regulated industry.

The difference between the two classifications is usually one of degree. For instance, a slightly-higher-than-average chargeback ratio may mean a business cannot be classified as “low risk,” but the business otherwise has “low risk” merchant characteristics; so rather than classifying the business as “high risk,” SoarPay can extend “mid risk” pricing to these types of merchants, therefore saving the merchant on monthly fees.

Many payment processors do not bother with the distinction between high risk and mid risk merchant accounts, but SoarPay does so in able to deliver our Industry Minimum Pricing.

Our friendly Customer Support Team is standing by to approve
your application

Retail Payments

Retail businesses can choose from a traditional credit card terminal, wireless, or point of sale system. Whatever you choose, our retail merchant accounts will have you accepting credit and debit cards faster, and for less.

Mobile Payments

Want “on the go” mid or high risk credit card processing? Our mobile pay options are for you. Choose between iPad or mobile phone credit card swipers, compatible with both iPhone and Android devices.

Virtual Terminal Payments

Accepting payments over the phone, mail or typed in on your laptop  is easy with our virtual terminal merchant accounts.  No equipment needed. Just log in to your virtual terminal, and type in the customer’s credit card.

Virtual Terminal Payments

Accepting payments over the phone, mail or typed in on your laptop  is easy with our virtual terminal merchant accounts.  No equipment needed. Just log in to your virtual terminal, and type in the customer’s credit card.

The Payments & Fintech Podcast

The latest happenings in the worlds of payments and fintech impact all kinds of businesses and industries. If you want to offer your customers the best experience around payments, or just want to learn about financial services that could help your business… PayPod: The Payments And Fintech Podcast has you covered!

Each episode, you’ll hear an interview directly with a leader from the payments and fintech industries. We talk with fintech entrepreneurs, security experts, mobile developers, eCommerce pros, and more…

From credit card processing to bitcoin… from retail POS systems to cutting edge digital payments tech… merchant accounts and mobile checkout… we cover it all!