Should You Trust Payment Advisors With Your Merchant Account?

Founded in 2014, Payment Advisors is a merchant account provider that specializes in serving high-risk business types. Payment Advisors claims that it is partnered with 15 different banks and is capable of placing new CBD merchants, marijuana dispensaries, online firearms vendors, remote tech support, payday loans, and other extremely hard-to-place merchant types. Federal banking regulations create difficulties for these sorts of merchants, making Payment Advisor’s banking network an asset to those companies.

Payment Processing

Payment Advisors specializes in processing major debit and credit cards, particularly for high-risk businesses. Their services include credit and debit card processing as well as the following:

ACH and e-Check Processing

Payment Advisors offers ACH (Automated Clearing House) and e-check processing services, which enable businesses to electronically transfer funds between bank accounts.

Check Cashing

The check cashing service provided by Payment Advisors is designed to help businesses convert checks into cash quickly and efficiently.

Cashless ATM Processing

Cashless ATM processing allows businesses to provide customers with the convenience of paying electronically while mimicking the experience of an ATM transaction.

Chargeback Control Assistance

For businesses facing frequent chargebacks, Payment Advisors offers assistance in managing and reducing chargebacks. Their services aim to mitigate the financial and operational impact of chargebacks by offering tools and strategies that help businesses better track transactions, respond to disputes, and reduce fraudulent claims.

Offshore Processing

Payment Advisors also provides offshore processing solutions for businesses that operate internationally or in high-risk industries. Offshore processing allows businesses to process payments through banks located outside their home country, which can help reduce processing fees and offer more flexible payment options in global markets.

Aggregator Solutions

For small businesses or startups that don’t have the volume or infrastructure for a dedicated merchant account, Payment Advisors offers aggregator solutions. These solutions enable multiple businesses to pool their transactions into a single account, simplifying the payment process and providing access to payment processing without the need for individual merchant accounts.

“0% Processing”

Payment Advisors’ “0% Processing” service offers an alternative pricing model where merchants pass on the processing fees to customers instead of absorbing the cost themselves.

Low Complaint Total

Our research has uncovered only a single negative Payment Advisors review, with no evidence suggesting fraudulent activities. This lone review points to suboptimal customer service experiences. As a specialized firm established in 2014, Payment Advisors’ relatively small client base within a niche market is a likely factor in the limited feedback. Nevertheless, maintaining such a clean complaint record, particularly in high-risk sectors known for challenges like fund-holds and account closures, is commendable.

Payment Advisors Lawsuits

No outstanding class-action lawsuits or FTC complaints have been identified against Payment Advisors. For merchants seeking alternative ways to address dissatisfaction, reporting to supervisory organizations could be an effective approach.