Pawn Shop & Pawnbroker Merchant Services

Credit card processing is relatively new for many pawn shops, but pawnbrokers themselves have been supplying secured loans for personal property for quite a significant amount of time. Pawn shops are often labeled as high risk merchants, which makes accepting credit card payments sometimes easier said than done. Soar Payments helps pawn shop business owners fairly establish a pawnbroker’s merchant account, and provides pawn businesses with chargeback management packages to help maintain a successful and profitable business.


Pricing

Platinum
$99per month
  • Feature One
  • Feature Two
  • Feature Three
Gold
$49per month
  • Feature One
  • Feature Two
  • Feature Three
Silver
$23per month
  • Feature One
  • Feature Two
  • Feature Three
Retail (Basic)
0.4%+ Interchange
  • $0.15 per Transaction
  • $0 Per Month
  • Month-to-Month
  • No Cancellation Fee
Retail (PRO)
0.2%+ Interchange
  • $0.10 Per Transaction
  • $15 Per Month
  • Month-to-Month
  • No Cancellation Fee
Online (Basic)
$0.150.55%+ Interchange
  • Feature One
  • Feature Two
  • Feature Three
  • Feature Four
Basic
$12per month
  • Feature One
  • Feature Two
  • Feature Three
  • Feature Four

Pawn Shop Starter Plan:

For small or startup pawn shop businesses, that will process less than $20,000 per month, our Pawn Shop Starter Plan allows you to have daily deposits, free equipment, and a quick setup.

Pricing Note: Your $35 per month covers 24/7 support, training, online and paper statements, gateway, and all other monthly fees. It does not include an annual PCI fee of $99.

How To Apply: To Apply, please complete our Online Application, which requires a valid ID, US social security number, voided business check, and bank statements. Approval in 2-3 days.

Additional Note: For startup pawn shops, you are eligible to switch to the Pawn Shop Pro plan after 3 months of successful processing.

Platinum
$99per month
  • Feature One
  • Feature Two
  • Feature Three
Gold
$49per month
  • Feature One
  • Feature Two
  • Feature Three
Silver
$23per month
  • Feature One
  • Feature Two
  • Feature Three
Retail (Basic)
0.4%+ Interchange
  • $0.15 per Transaction
  • $0 Per Month
  • Month-to-Month
  • No Cancellation Fee
Retail (PRO)
0.2%+ Interchange
  • $0.10 Per Transaction
  • $15 Per Month
  • Month-to-Month
  • No Cancellation Fee
Online (Basic)
$0.150.55%+ Interchange
  • Feature One
  • Feature Two
  • Feature Three
  • Feature Four
Basic
$12per month
  • Feature One
  • Feature Two
  • Feature Three
  • Feature Four

Pawn Shop Pro Plan:

For pawn shop businesses that will process at least $20,000 per month and have processing history, our Pawn Shop Pro Plan offers lower discount rates, and dependable next day funding.

Pricing Note: Your $35 per month covers 24/7 support, training, online and paper statements, gateway, and all other monthly fees. It does not include an annual PCI fee of $99, or a chargeback prevention program.

How To Apply: To Apply, please complete our Online Application, which requires a valid ID, US social security number, bank statements, and processing statements. Approval in 2-3 business days.

Apply Today With Soar Payments

Pawn Shop & Pawnbroker Merchant Accounts

envelope92Contact Soar Payments
Our friendly expert merchant managers will help you understand your businesses’ credit card processing options.
file161Set Up A Merchant Account
We will match you with a trusted acquiring bank, processor and gateway from our network of domestic and offshore banks.
buy11Start Processing Credit Cards
Start processing in as little to 1-2 business days once approved –and receive payouts in as little as 48 hours.

Online Application

 

 

Learn More About Pawn Shop & Pawnbroker Merchant Accounts

Click on the tabs below to learn more about pawn shop & pawnbroker merchant accounts through Soar Payments.

Why Are You High Risk?
Pawn shops are considered high risk merchants mainly due to the nature if the business and the known risk for accruing stolen goods. Although less than one tenth of one percent of all pawned merchandise is identified as stolen goods, the stigma for being high risk makes establishing a merchant account difficult for new pawnbrokers. Soar Payments helps pawn businesses easily obtain high risk merchant accounts with one of our many partnered acquiring banks. Contact us at sales@SoarPay.com for more information on high risk merchant accounts.

Chargeback Prevention Management for Pawnbrokers
For pawnbrokers, chargebacks are unavoidable. However, Soar Payments will help you manage chargeback disputes with our great chargeback education and prevention program. Our team of merchant account managers will notify you and help you resolve a dispute upon arrival, helping to keep your monthly chargeback ratios to a minimum.
Application & Required Documents
Our merchant account application is free and can be completed online in a matter of minutes. We will also require the following documents to fully evaluate your business for merchant account services:

· Owner’s Photo ID or Passport
· Business Formation Documents (e.g. Articles of Incorporation)
· Business Voided Check or Bank Document
· 3 Months of Business Bank Statements (Personal Bank Statements accepted for DBA)
· 3 Months of Credit Card Processing Statements (for existing businesses)

Apply Now