High Risk Merchant Accounts
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Payday Lending Merchant Account

Payday lending has been a very necessary service required by consumers in the United States in both good and bad times. Unfortunately, the vast number of banks and processors view this vertical as high risk. This has resulted in many banks not being open to creating merchant accounts for payday lenders. There is a lot of concern with reputational risk as some view this industry as predatory.

Payday Loan Merchant Account

Payday lenders also have a lot of regulation on a national and state level to contend with, and most payment processors have no interest in managing those changing regulations. The creation of the Consumer Financial Protection Bureau (CFPB) and its strong stance on payday loan businesses has also added to the list of reasons the payday lending space has challenges when it comes to payment processing.


Working with Experienced Professionals

Opening a merchant account is an important decision, and it should be approached with a level of seriousness that it deserves. Working with people who have legitimate experience in the payday loan industry and can use that experience to open doors to you is vital. You want someone in your corner who knows the challenges your industry faces.


Why Flow Payments?

Flow Payments offers several options from a variety of payment processors for all types of payday loan companies. We are happy to provide payment processing services to this industry and provide payday lenders with the solutions they need. We understand that you and your customers may use a variety of different card brands to make and receive payments.

Another great thing about Flow Payments is that we do not put forth a structure with any hidden rates and fees or other tricks that some payment processors try to put in place. We are upfront about our fees and service, and we have created a seamless application process. You will have a dedicated account representative assigned to your account as soon as you make contact and they will guide you through the process and answer any questions that you may have. 


What Do I Need to Start?

Getting a merchant account doesn’t have to be over complicated. The below is what’s required for the initial application process.

  • Driver’s License
  • Voided Check
  • Articles of Incorporation
  • Copy of EIN
  • Completed Website
  • Copy of State License


If you operate a business in the payday loan industry, contact us today for a free quote. We have decades of experience in your industry and aim to provide reliable payment processing with industry leading service.


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