Flow Payments Credit Card Processing Services Review
ConsumersAdvocate.org
Best for High Risk Businesses
Flow Payments is dedicated to providing service to companies that operate businesses that are considered high-risk. This may include any business owned by anyone with a poor credit rating. It also includes businesses in the nutraceutical, debt collection, cannabis, online gaming, and other sectors. Due to the perceived reputational risk of doing businesses with companies and the higher number of chargebacks associated with sales in these categories, many US banks and payment processing companies do not offer accounts to these businesses. The alternative for many companies has been to utilize offshore payment processors. Flow Payments has the expertise to help customers in high-risk categories open merchant accounts through US institutions. They have a 95% success rate in placing high-risk businesses.
Fair Treatment is Built In
In Those credit card processing companies that do allow high-risk businesses to open accounts often charge much higher fees than are seen with “average” businesses. Flow Payments has built relationships with many processors and banks and helps place customers in the most advantageous programs for their businesses.
Flow Payments offers alternative payment methods that some companies don’t offer including cashless ATM, E-Check and ACH processing which may be preferred by customers making purchases through high-risk companies. Their service is easy to integrate with your online shopping cart.
Flow Payments claims they offer the lowest rates for high-risk transactions with no arbitrary fees or processing minimums. However, they do not provide any kind of fee information on their website. Customers may, however, request a free quote online or by telephone. Similarly, the company also describes their commitment to providing best-in-class hardware but doesn’t explicitly name the brands or types of payment processing equipment they use.
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- Multiple solutions for high-risk businesses
- Facilitates opening merchant accounts for hard-to-place businesses
- Low Interchange-Plus pricing previously unavailable to high- risk businesses
- Accept alternative payment methods including cashless ATM and ACH
- No additional high-risk business fees or processing minimums
