Soar Payments Account Type

Soar Payments offers a variety of merchant accounts tailored to meet the needs of high-risk businesses. The main types of accounts available include:

• Retail Merchant Accounts: Ideal for businesses that accept in-person payments through credit card terminals, wireless devices, or point of sale systems.

• Mobile Merchant Accounts: Designed for businesses that require on-the-go payment solutions, enabling payments via mobile devices with card swipers.

• Virtual Terminal Accounts: Allow businesses to accept payments over the phone, via mail, or online without needing additional equipment.

• E-commerce Merchant Accounts: Tailored for online businesses, these accounts integrate easily with various shopping carts for seamless online transactions.

• High-Risk Merchant Accounts: Specifically for businesses classified as high-risk, providing added protection and services to manage chargebacks effectively.

Soar Payments Broker Account Opening Process

Opening a merchant account with Soar Payments involves several steps:

• Application Submission: Complete an online application to initiate the process. This application is assessed on a case-by-case basis.

• Quote and Approval: Upon submission, you will receive an instant quote. If approved, you can begin trading within a few days.

• Documentation Requirements: Be prepared to provide necessary documentation, including information about your business model, chargeback history, and contracts with third parties.

• Account Setup: Once approved, you will receive your unique merchant ID and can set up payment processing systems according to your business needs.

• Funding the Account: Ensure that your account is funded sufficiently to cover initial transactions and meet any minimum balance requirements set by Soar Payments.

• Integration: If you are an e-commerce business, integrate your website with Soar's payment gateways to start accepting online payments.

By following these steps, businesses can effectively open and manage their merchant accounts with Soar Payments, ensuring they have the necessary tools to process payments securely and efficiently.