Reliable payment processing for your payday loan business

If you run a payday loan business, you already know how difficult it can be to find a fair, reliable merchant account and credit card processing solution. Traditional domestic merchant banks may turn you down for a high risk merchant account or impose unfair trading restrictions on your account. If you offer payday loans online, it's even harder to get approved for a merchant account.

Why are payday loan merchants considered high risk?

Merchant banks may label your business high risk for a number of reasons:

• You offer unsecured loans
• You have a 10-20% default rate
• Repayment comes directly from borrowers’ checking accounts

What's the solution for payday loan merchants who need to accept credit cards online? Instabill believes all legitimate e-commerce merchants deserve a fair chance. That's why we work with a network of offshore banks with liberal underwriting policies, making it easier for payday loan merchants to get approved for a high risk merchant account. We understand the real needs of your business, and we'll work with you to find the ideal payment processing solution.

• No processing volume caps
• Reliable payouts
• Free tech support(external link)
• Secure payment gateway

How long will it take for a payday loan business to get approved for a merchant account?

After you apply for a merchant account, Instabill generally receives an answer from one of its merchant acquiring banks within 3 working days. If you sign an agreement with the bank, you can begin processing credit cards online 24-48 hours later.

Get your payday loan business up and running with Instabill

People sometimes need that little bit of extra cash to cover unexpected financial needs. And we know your payday loan business is there to help them. That’s why Instabill is here to help you. For more information about our payday loan merchant accounts, call +1 800-318-2713 or contact us online.

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Applying and processing for a new merchant account is easy and takes a very short time. Send us your request by completing the application below.