Merchant Accounts

Global eCommerce surged to touch $26.7 Trillion in 2020, partly fuelled by the restrictions bought about by the pandemic. While the pandemic is slowly and thankfully dwindling, the shift in consumer behavior towards digital marketplaces is permanent, or so experts believe.

To cut it short, this is the best time to do business on the internet folks. Blinding fast logistics networks make it possible to reach the remotest corners of the globe with ease, while reliable payment processors allow you to accept multiple currencies and a wide variety of payment models, opening up the floodgates of business.

The only conundrum that businesses must navigate around is which payment processor to choose, with so many of them trying to woo you with schmancy features and attractive pricing.

We connect you to our curated list of partner banks that cater to businesses across verticals and industries. Whether you are looking for a simple apple-to-apple merchant account or want an advanced multi-currency parallel billing service, we can provide you with the solution!

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Website Payments

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Telephone Payments

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Card Terminals

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Direct Link Payments

Card Payments For Your Business

Statistics and trends reveal that there are sunny days ahead for the eCommerce industry. But as a business, you have to ensure that you are not only tapping the right markets, but also ready to offer a secure and seamless checkout process to the customer. Remember, business and brand loyalty are tied to customer experience.

That’s where a merchant account comes in. It allows you to accept secure online payments via credit card, debit card, echecks and a plethora of alternative payment methods. If you are looking for business growth online, it is impossible to envision a future without a reliable merchant account.

That said, selecting a merchant account is far from a cakewalk. With several aspects to consider and a multitude of service providers flooding the market, it might be a tad confusing for you to choose one without getting swayed.

That’s why Merchant Advice was set up. To help businesses cut through the clutter and get connected to the right merchant account providers for their business and vertical. We work with businesses across industries, helping them find the right payment service that caters to their requirement.

Types Of Merchant Accounts We Help With

While shopping for Merchant Accounts, you might increasingly bump into jargon, which makes it difficult for you to decide which merchant account is the right fit for your business. To give you an overview, here are the types of merchant accounts that our team helps procure for our clients.

Standard Merchant Accounts

While analysing applications from businesses, partner banks and payment processors have a predefined checklist that they follow to determine whether the risk associated in partnering with them.
Based on the outcome, the business is classified as a low risk or a high risk. Businesses in verticals with average transaction values, low chargeback rates, and a large number of annual transactions, qualify for standard merchant accounts.

Standard Merchant Accounts have low transaction charges, no rollover funds, no security deposits and a minimal monthly fee. You can accept a wide range of payment types while offering a smooth checkout experience to your customers. Most digital businesses, barring a few industries can qualify for a standard merchant account.

High Risk Merchant Accounts

In the early days of eCommerce, one could simply sign up for a merchant account and start selling. However, that has changed with the steady increase in fraud, chargebacks, and other cyber threats that have made businesses wary of working with merchants in certain industries.

High-risk merchants require thorough applications and must meet strict processing guidelines set by their prospective bank before they are even considered.

Banks are wary of working with these industries as they have a higher transaction volume, a heavy load of chargebacks, and regulatory/compliance problems galore. In some cases, banks may choose to skip entire verticals despite sparkling clean credit histories and financial records.

What Makes A Good Merchant Provider?

It’s not uncommon for businesses to use processing rates as the sole yardstick while comparing merchant accounts. But there are factors beyond the processing charge that must be considered before signing a contract with a payment service provider.


As a digital business, there’s nothing more important than offering your customers with a smooth and hassle-free checkout process. So, if and when, there are glitches or errors in this process, you need a reliable team that’s got your back. One that’s responsive on multiple communication channels, prioritizes your queries, and can help you troubleshoot issues. Check the SLA for customer support before you sign up.

Transparent Fee Structure

Processing Rates are often advertised in bold, whereas there are a plethora of other fees that come into play. While you can’t control the processing rates, you can certainly do your bit to reduce expenses by looking at the fee structure. Do they charge a one-time setup fee for onboarding? Are there monthly or annual charges? Do they have hidden charges? PCI Compliance charges? Penalties for Chargebacks? Early Contract termination charges?

Processing Rates

The credit/debit card processing fees for standard merchant accounts are generally 1.5-2.5%. But may vary depending upon the risk profile and your industry. It’s important that you check the processing fee model the company uses. Is it a flat rate model, which is easier to keep track of? Is it the Interchange-Plus pricing model which is a combination of two separate charges? Do they use tiered pricing?

Monthly Contracts

You want to work with payment processors that work on a month-to-month contract. By doing this, you’re not locked down to a two-year contract and can switch providers if something doesn’t work out. Processing companies often quote cheap rates and lock you into long-term contracts with exorbitant contract termination charges.

Our Merchant Sourcing Process

1. Analyse Requirements

We have an initial discussion via email or telephone to understand your business and specific merchant requirements.

2. Compare Providers

We compare and filter our database of trusted merchants who will accommodate your requirements.

3. Negotiate Terms & Rates

We will negotiate terms and rates that specifically suit your business.

4. Complete Application

We will introduce you to the merchant provider and assist in your application.

How To Apply For A Prize Competition Merchant Account

We have created a seamless application process with minimal paperwork that allows our team of underwriters to analyse merchant applications in the minimum possible time.

We will then connect you with multiple suitable processing banks that will approve your application and open a merchant account for you. Sometimes, the entire process can take less than 24-hours.

For high-risk industries, the process is slightly complex and can take a little longer. But we’ll keep you posted every step of the way, till your merchant account is up and running.

Getting started is easy! Scroll down to the application form, fill in your details and submit. Our team of underwriters will take it from there! Once you’re approved, you’ll be up and running in no time.

Application Checklist

The application process for getting a high-risk merchant account is short and straightforward. Here’s are some of the essential documents that you will require while applying:

Seamless Integrations

As a digital agency we understand technology stacks and content management systems, meaning we can provide a gateway that can integrate directly into your website or system. We can also help with the integration totally free of charge!





Find Your Merchant Provider

We can make sure you get your perfect match, without any unnecessary hassles or delays.

Frequently Asked Questions

Generally, your credit score determines your credit worthiness and risk profile. Having said that, it’s not the be-all and end-all of your applications. We’ll take into account other factors like business type, transaction volume, industry and more to determine the likelihood of your application being accepted. That helps us determine the risk profile and processing rates you’ll be eligible for, irrespective of your credit score.

Absolutely. The idea of working with Merchant Advice is to cut short the time it takes to get the right solution. We work with multiple processors for merchant accounts and processing, so you can compare rates, fees and features from different payment processors before you pick one.

As part of the application process, we submit your details to payment service providers to present you with offers. These are usually presented within 24 hours. If you’re applying for a high-risk merchant account, it may take 1 business day before you get an offer.

Yes! We work with payments providers that specialise in multi-currency merchant accounts. In fact, many of the processors we work with are also partnered with offshore banking institutions which will help you secure better conversion rates, while staying compliant with local laws.

Cryptocurrencies are gaining popularity by the day and many businesses want to offer this as a payment solution to customers. This has prompted merchants to look beyond traditional payment processing solutions offered by local banks and other lending institutions to meet their specific cryptocurrency needs. We work with a number of leading providers who offer merchant accounts, wallets and cryptocurrency processing solutions.