Penny Auction Merchant Accounts

Reliable payment processing for a 2,500-year-old industry

Bidding has come a long way since the first recorded auction in 500 B.C. We've gone from fast-talking auctioneers to online auctions--and online credit card processing. As a penny auction merchant, you need real-time credit card processing that is fast and reliable. If your payment service provider can't keep up, your business will suffer losses. However, working in a high risk industry makes it difficult to get approved for a penny auction merchant account.

Why do banks consider penny auction merchants high risk?

Banks consider all businesses higher risk when customers aren't present to sign for their purchases. Online auctions have the additional risk factor of high chargeback and refund rates. Other reasons why your penny auction business may be considered high risk include:

• Penny auction websites are sometimes perceived as perpetrating online fraud or scams.
• You may have little or no credit card processing history.
• Your penny auction website needs to process a high volume of credit card transactions.

Credit card processing with Instabill for penny auction merchants

At Instabill, we understand that as time and technology advance, auctions will remain a profitable business. That's why we work with a trusted network of offshore banks. Our banks' liberal underwriting policies make it possible for us to approve you for a penny auction merchant account. Instabill believes in the success of your business--and your success is our success!

• Real-time credit card processing
• Low fees
• Offshore and multi-currency processing
• No caps on processing volume

How long will it take for my penny auction merchant account to get approved?

Once you apply for a merchant account and submit all of the required documents(external link), Instabill generally receives a response from one of its acquiring banks within three days. After you sign the bank agreement, you can start processing credit cards online within 24-48 hours.