Need advice on high-risk merchant accounts (do we start our own ISO/MSP?)

We have 5 mid-size 8 figure rev businesses operating in similar industries. Currently they're all through ISOs, e.g. one is through an affiliate of an ISO (MaverickPayments).

At this point should we simply approach one of these high risk banks they work with and go direct for the best possible deal? We did approach Esquire Bank and they said they have no program for direct-to-business, and to go an ISO… so do we just tell them we want to become an ISO and provide services to ourselves? There are only 6 or 7 of these guys as far as I can tell, and I don't see any direct-to-business offerings on any of their websites. Not sure why they all seem to push this ISO setup. Chase for example has their own program, but they don't deal with high risk businesses anymore due to operation choke point.

This is fighting over 1-2% and I'm guessing we'd still need to build a ton of infrastructure like the aforementioned company has. Not sure what the best approach is.

Thanks everyone.

submitted by /u/nanoRus
[link] [comments]

Leave a Reply

Your email address will not be published. Required fields are marked *