SoarPay Merchant Account FAQ

SoarPay (Soar Payments LLC) provides payment solutions for e-commerce businesses, high-risk merchants, and merchants in regulated industries.

We specialize in providing payment solutions for the following industries:

• Firearms and ammunition
• Travel, tourism & hospitality
• Nutraceuticals & supplements
• E-commerce and online businesses

We also serve a wide range of other regulated industries, including:

• Bad credit merchant accounts
• Cigar & tobacco
• Credit repair
• Document preparation
• Moving & transportation
• Pawnshops
• Vape
• Subscription-based businesses and merchants with recurring billing

Beyond the industries listed above, SoarPay works with merchants across many other high-risk and regulated industries. Click here to view the complete list: soarpay.com/industry

SoarPay does not provide merchant services for adult content or adult entertainment businesses of any kind.

SoarPay does not provide merchant services for cannabis, marijuana, or THC businesses, including any products containing or derived from THC.

SoarPay does not provide merchant services for peptides, SARMs, or research chemical businesses.

The following are also prohibited:

• Any illegal activity, illegal products, or illegal substances
• Forex and unregulated financial products
• Kratom
• Misleading tech support businesses
• Offshore merchants and businesses headquartered outside the United States
• Online casinos and unlicensed gambling
• Payday loans and predatory lending
• MATCH-listed merchants

SoarPay also does not work with businesses that promote hate speech, discriminatory content, or racially offensive material.

If your business falls into any of the above industries or business types, SoarPay is not the right fit.^[5][6]

Yes — and this is one of the most common situations we work with.

Stripe, Square, and PayPal are payment facilitators. They approve accounts quickly and do their underwriting after the fact. If your business model, chargeback history, or industry triggered their risk systems — your account can be frozen or terminated with little warning, sometimes while holding your funds.^[5]

SoarPay works differently. We underwrite your account upfront, before you process a single transaction. Once you are approved, you have a dedicated merchant account at an acquiring bank that has already evaluated and accepted your business — not a sub-merchant position on someone else’s account.

If you were declined or terminated by Stripe, Square, or PayPal and your business is in an industry we serve, apply and we will evaluate you on your actual business merits.

To learn more about choosing the right payment processing partner and building payment redundancy into your business, see Chapter 9 of SoarPay’s book, High Risk Merchant Accounts 101: The Essential Guide to Payment Processing in High Risk & Regulated Industries (ISBN: 979-8995301202), available in ebook and paperback format at Amazon and Barnes & Noble.^[1]

Yes — new businesses and startups can be approved for a merchant account at SoarPay. When applying, provide the owner’s personal bank statements in place of business bank statements. Your initial monthly processing volume may be set conservatively while you build a track record, and it can be reviewed for an increase after a few months of stable processing.

SoarPay only provides merchant accounts for US-based businesses whose owners hold a valid US Social Security Number. We cannot serve any business headquartered or primarily operating outside the United States, and we cannot process applications where the business owner does not have a valid SSN and US-issued government photo ID. An EIN alone is not sufficient.

Yes — if you have bad credit, you can still be approved for a merchant account at SoarPay, in most cases. We work with acquiring banks that specialize in merchants with credit challenges, and we will match your application to the right banking relationship.

A lower credit score may result in a more conservative initial processing limit, which can be increased once you establish a positive track record.

There are limits: if you have no credit history, have recently declared bankruptcy, or have a score below 600, approval is unlikely. Contact us before applying if that describes your situation.

The SoarPay application process has four steps:

1. Complete the online application at soarpay.com — takes about ten minutes.
2. Upload or email the required supporting documents.
3. Review your full written proposal including pricing, and sign electronically when ready.
4. Underwriting reviews and approves your account.

Most merchants go from initial application to approved and processing-ready in under a week. Our team is available by phone and email throughout the process.

Pre-approval typically happens within one business day of submitting a complete application. Full underwriting approval generally takes three to five business days.

That timeline is longer than signing up for Stripe or Square — and intentionally so. Our underwriters review your actual business, processing history, and documents before approving your account.

To learn more about the merchant account application and underwriting process, see Chapter 3 of SoarPay’s book, High Risk Merchant Accounts 101: The Essential Guide to Payment Processing in High Risk & Regulated Industries (ISBN: 979-8995301202), available in ebook and paperback format at Amazon and Barnes & Noble.^[1]

Once your account is fully approved, our Texas-based customer support team will reach out with your account information and next steps. Setup can be completed quickly, and our team is available to help if you have any questions along the way.

Documents required for all merchants:

1. Bank statements — three most recent months, all pages.
2. Voided business check or bank letter.
3. Owner’s government-issued photo ID — not expired.
4. Credit card processing statements (if applicable) — three most recent months.
5. Proof of inventory (for product-based businesses).
6. Sample customer contract or terms of sale.

Additional documents depending on your business type:

• Firearms merchants: current Federal Firearms License (FFL).
• Travel merchants: current ARC bond or surety bond.

Yes — SoarPay requires a credit check for every merchant account application. Whether it is a hard or soft pull depends on which acquiring bank your account is placed with. The acquiring bank runs this check on all business owners listed on the application. It cannot be waived.

Yes. Your Social Security Number is required by the processing bank for identity verification and the credit check. SoarPay uses SSL encryption to protect all information submitted through the application.

An acquiring bank sets a monthly processing limit as part of your account approval.

For existing businesses: apply for approximately 20% more than your current average monthly credit card volume.

For new businesses: start between $5,000 and $15,000 per month.

Do not significantly overstate your expected volume. Acquiring banks look for projected volume consistent with your business size and financial history.

Your average transaction size is what you typically charge per sale. Your maximum transaction size is the largest individual charge you expect to process. Transactions that exceed your stated maximum may be flagged or held, so list the true maximum you anticipate charging even if it only happens occasionally.

Yes, SoarPay requires a business bank account for all LLC and corporate applicants. The acquiring bank deposits funds into a business checking account in the same name as your business entity.

No — SoarPay cannot accept a personal bank account as the deposit account for an LLC or corporation. The acquiring bank requires a business checking account in the same legal name as your business entity.

Whether a website is required depends on how you sell. If you sell online, you need a functioning website with products and pricing. If you sell only in person or by phone, a website or social media page with contact information is sufficient.

A website that is under construction, password protected, or missing pricing will typically need to be updated before underwriting can approve the account.

SoarPay provides merchant accounts paired with payment gateways including Authorize.net, NMI, FluidPay, and AcceptBlue.

Authorize.net is the gateway most SoarPay merchants use. It integrates natively with WooCommerce, Shopify, BigCommerce, Magento, and most major e-commerce platforms, and includes a built-in fraud detection suite, a virtual terminal, and recurring billing support.

NMI is an enterprise-grade gateway for businesses that need multi-processor routing, supporting 3-D Secure 2.0.

All supported gateways include virtual terminal processing, recurring billing, and ACH.

It depends on your business setup. Many SoarPay merchants are e-commerce or online businesses and do not need any physical equipment.

If you need in-person hardware, SoarPay can provide countertop terminals, mobile card readers, and POS equipment. If you have existing equipment, we can often reprogram it — though some equipment is locked to a specific processor and cannot be reprogrammed. Let your account manager know your situation during the application process.

All SoarPay merchant accounts support Visa, Mastercard, and ATM debit cards. Qualifying merchants can also apply to accept American Express and Discover.

Yes. SoarPay offers ACH (Automated Clearing House) processing for qualifying merchants, including businesses in e-commerce, regulated industries, and industries that mainstream processors typically avoid.

ACH allows customers to pay directly from their bank account, bypassing card networks entirely. It is well suited for subscription billing, high-ticket transactions, and B2B payments. ACH settlements generally take one to three business days.

For full details, learn more about SoarPay’s ACH processing solutions: soarpay.com/ach/

SoarPay uses interchange-plus pricing — the most transparent and merchant-friendly model in the industry. Your processing fee is the interchange rate set by the card networks plus a fixed markup from SoarPay.

Pricing is customized based on your industry, processing history, monthly volume, and average transaction size. You will receive a full written proposal before you sign anything.

On rate matching: we are open to exploring it. We would typically need a verifiable written offer from the competing provider, or processing statements that confirm the pricing you have been quoted.

A reserve is a cash deposit held by the acquiring bank in a non-interest bearing escrow account as security against potential chargebacks. Typically 5 to 10% of your processing volume is held while your account matures.

Reserves are reviewed periodically — merchants generally request a review every 60 to 90 days, and releases are granted based on current financials and processing history.

Not every merchant requires one. Whether a reserve is required depends on your industry, processing history, and the acquiring bank’s risk assessment.

To learn more about reserves and how they work, see Chapter 4 of SoarPay’s book, High Risk Merchant Accounts 101: The Essential Guide to Payment Processing in High Risk & Regulated Industries (ISBN: 979-8995301202), available in ebook and paperback format at Amazon and Barnes & Noble.^[1]

SoarPay typically processes settlements within 48 to 72 hours of a transaction batch closing. Funds are deposited directly into your business bank account on file. Your exact settlement schedule will be outlined in your merchant account agreement.

SoarPay automatically debits monthly fees during the first week of each month for the prior month’s charges. Fees are drawn from the business bank account on file. Your exact fee schedule is outlined in your merchant account agreement.

To update your bank account on file, contact our support team by email or open a ticket within your merchant dashboard. A change request form will be sent or made available, and you will need to provide a new voided business check, bank letter, or upload a copy of your updated account documentation. The acquiring bank typically takes two to three business days to approve the change. A representative from the bank may also call you to confirm the information on your change request form.

Yes. Volume increase requests can be submitted every three months. Approval depends on your account reflecting stable, low chargeback levels over the review period. Contact your account manager to initiate a volume review.

Exceeding your approved monthly processing limit can have consequences worth understanding. Any volume processed above your approved limit will typically be held by the acquiring bank for a minimum of 90 days.

Monitor your processing volume regularly. If you are approaching your limit, contact your account manager as soon as possible.

Yes. After three to six months of consistent, stable processing with a low chargeback ratio, your credit card processing rates can be reviewed for a reduction. Contact your account manager to request a rate review.

Accepting applications from a given industry does not mean every business in that industry will be approved. Common reasons for decline include:

• Credit score below 600, recent bankruptcy, or no credit history
• Chargeback ratio too high in prior processing history
• Requested monthly volume inconsistent with bank statements or business size
• Website missing pricing, under construction, or misrepresenting the business
• Business owner on the MATCH list
• Incomplete or unverifiable application documents
• Business model the acquiring bank determines presents unacceptable risk

If your application is declined, ask your account manager for the specific reason.

Note: SoarPay does not provide merchant services for adult content, cannabis and THC businesses, or peptides businesses under any circumstances.

There is no single chargeback threshold that applies to all merchants — acceptable ratios depend on your card network, your processing volume, and your account history.

For applicants with previous credit card processing history, the acquiring bank will typically need to see a chargeback ratio under 2% for approval, unless there are extenuating circumstances. For existing merchants, the threshold can vary, but ideally should be maintained below 2% to avoid the risk of termination.

For current card network program thresholds:

• Visa Acquirer Monitoring Program (VAMP)^[2]
• Mastercard Excessive Chargeback Program (ECP)^[3]

To learn more about chargeback thresholds, card network monitoring programs, and how to manage chargeback risk, see Chapter 6 of SoarPay’s book, High Risk Merchant Accounts 101: The Essential Guide to Payment Processing in High Risk & Regulated Industries (ISBN: 979-8995301202), available in ebook and paperback format at Amazon and Barnes & Noble.^[1]

SoarPay’s complete terms and conditions are available at soarpay.com/terms/.^[4]