Many resellers and affiliates come to Instabill when they cannot find a home for their non-qualified merchants. “I have submitted Mr. Cranston’s merchant account application to five PSPs and all of the apps came back declined,” we often hear. And what do we say in response? Non-qualified merchants are no problem for Instabill.
Through the Instabill Merchant Account Affiliate Program, you can place your non-quals with us, help them establish reliable online credit card processing solutions, and earn commissions for the life of each approved account. Below are several merchant account options for your non-qualified merchants.
1. Offshore Merchant Accounts: Instabill specializes in offshore merchant accounts. This is a great solution for your non-quals as offshore acquiring banks tend to be easier to obtain. However, this does not mean the banks’ underwriting departments turn a blind eye to fraudulence. It simply means they have fewer trading restrictions and may be more capable of helping higher risk businesses.
2. Master Merchant Accounts: With a master merchant account, your clients can process transactions through a merchant account in our name—a form of processing very similar to third-party merchant accounts. The merchant account service provider accepts responsibility for the risk, your merchants can accept card payments online, and you can receive the 30-50% residuals for the life of their account with us. As an added bonus, your merchants can receive approvals for master merchant accounts within two to three business days.
3. Offshore eWallet Solution: When a non-qualified merchant has simply run out of merchant account options, you can help him or her apply for an offshore eWallet solution with Instabill. It will provide the same services as a merchant account, including online credit card processing, multiple currency support, and tax benefits from working in an offshore jurisdiction. However, your clients will not have to register offshore and the application process is much quicker and simpler.
To avoid confusion with the popular payments industry term non-qualified rates, Instabill defines non-qualified merchants as those who do not qualify for a merchant account with traditional acquiring banks, payment processors, and merchant account service providers. However, a non-qualified rate is a term used the United States for multiple purposes.
1. When a cardholder makes a purchase using a rewards card or business card
2. A cardholder outside of the United States makes a purchase to a U.S. e-commerce website
3. A merchant is ineligible for a qualified rate by settling his or her batch after the required timeframe
There are also additional guidelines that may deem a transaction as non-qualified. Card networks like Visa, MasterCard, and American Express establish their own interchange rates. However, there are several hundred rates assessed on a per-transaction basis. As a result, the networks assign U.S. merchants to interchange levels based on how they wish to process as well as their business type. When a transaction falls outside of a merchant’s assigned interchange level, the merchant has to pay a non-qualified rate.
Regardless, this is not a blog post about non-qualified rates. This is a blog post about non-qualified merchants.
To learn more about our Merchant Account Affiliate Program and how you can establish merchant accounts for your non-qualified merchants, contact us online or call us toll-free at 1-800-318-2713 to speak with our Partner Manager. We will send you a non-exclusive partnership agreement and you can begin forwarding us your merchants as soon as you return the agreement.