Lauren Vanegas, Author at My Payment Savvy

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Think “Big” When it Comes to Small Business Merchant Services

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Posts by Lauren Vanegas

Think “Big” When it Comes to Small Business Merchant Services

Small Business, Payment Processing, Card Payments

Owning a small business is a huge accomplishment! It takes perseverance, creativity, and ambition to set your business apart from big box shops and attract a loyal customer base. With the world now just a click away, a traditional small business can think “big” easier than ever before. So your business doesn’t have 1,000 employees,…

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Merchant Category Codes – Is Your Business High-Risk?

MCC, High-Risk Merchant, High Risk, Payment Processing

Merchants today must process credit and debit card payments to satisfy the demands of their customer base. You may not be aware there is a system to classify your organization according to goods or services offered. This system of merchant category codes (MCC) can significantly impact your ability to process credit and debit cards –…

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Obtaining a Merchant Account for your Startup Collection Agency

High-Risk Merchant Account, Credit Card Processing, Billing & Collections

Congratulations! You recently started a new collection agency business! It is certainly an industry full of opportunity. A large percentage of consumers and businesses alike fail to pay their debts in a timely manner. Organizations of all sizes need your help to collect these past due obligations. You must arm your agency with the tools…

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Savvy Site of the Week – Collection License State Laws

Collection License State Laws, Collection Agency Compliance, Payment Processor, High-Risk Merchant Account

Is your agency compliant when it comes to collection license state laws? It’s an important question to ask yourself – especially when it comes time to obtain a  payment processor experienced in the industry. Most acquiring banks will want to ensure you are licensed properly in the states your agency is conducting business in. As…

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Merchant Account Reserve 101

Merchant Account Reserve, High-Risk Merchant, Payment Processing

Applying for a merchant account can be tedious – especially if you are a high-risk merchant. After all the paperwork is gathered, applications signed and underwriting completed, you receive an approval for your new payment processing account (YAY!), but it comes with stipulations. One being a merchant account reserve, and the questions start popping up.…

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