HOUSTON, TX – Soar Payments, voted the #1 provider of high risk merchant accounts, this week announced expanded and more affordable credit card processing options can now be offered to precious metals traders.
Businesses that specialize in the sale of investible precious metals, such as gold, silver and platinum have historically had a difficult time securing reliable credit card processing due to the volatile nature of the industry and the potential for high chargebacks. Soar Payments, through its numerous banking and credit card processing partners, this week announced a dramatic expansion of it’s ability to provide affordable credit card processing solutions for this industry.
Reflecting on the history of the precious metals industry with credit card processing, Jacob Motley, Soar Payments VP of Sales, stated,
“The precious metals industry, as anyone who has been in the industry for a while can attest, can be highly volatile, both in terms of the volume of sales a business will have in a given month and the potential for customer chargebacks and refund requests. As a result, the industry has been categorized as high risk for credit card processing, and many banks and credit card processors have declined to process credit card payments for the industry altogether. That has left precious metals businesses in a situation where, previously, they had to pay high rates to accept credit cards, or choose to not accept them at all.”
Soar Payments expansion of partners who support this industry means that precious metals dealers now have a broader array of choices, which has translated into lower prices for businesses to accept credit and debit cards.
Regarding Soar Payments expanded solutions, Mr. Motley stated,
“We’re talking to a lot of precious metals businesses who have previously chosen not to accept credit cards at all, simply because they were declined in the past, or didn’t want to pay exorbitant rates. They’ve been really happy with the rates we’ve been able to offer, and given our ability to get them up and running in 2-3 business days, we’ve seen a lot of recent demand from this industry for our merchant account solutions.”
Houston Texas based Soar Payments has been voted the #1 rated high risk merchant account provider for 2015 and 2016. Specializing in providing credit card processing solutions to businesses categorized as ‘high risk’, Soar Payments offers a full suite of products and services for retail, eCommerce and phone sales businesses.
To apply for a merchant account, visit SoarPay.com/Online-Application.