Alternative Merchant Processing has the understanding to handle online credit card processing for independent insurance companies, private and public insurance organizations and financial services companies. Having worked with merchants involved in the financial sector for years, AMP has successfully helped these merchants accept Visa, MasterCard, American Express and Discover in 24-48 hours after receiving a complete merchant application.
Thanks to new regulations, independent insurance agents in specific states can now accept credit cards for insurance purchases and also adjust prices to cover interchange fees. Furthermore, security is critical and AMP ensures that our merchants are PCI Compliant to ensure no fraud or security breaches.
The independent insurance agent now must become payment flexible and allow its customers to pay via credit card and/or debit cards. Alternative Merchant Processing has a myriad of services ranging from physical credit card terminals, internet payment gateways, mobile devices, multi-currency payment options, and recurring billing options all to ensure an easy experience for your customer. Companies selling insurance products are definitely classified as “high risk.” This is because of the large liability insurance companies incur when providing policies to customers. This makes your business extremely at risk for chargeback’s; therefore, banks are less likely to partake in ecommerce with insurance product companies.
Whether your company covers all types of policies or specializes in unique policies, Alternative Merchant Processing will help your business secure a competitive credit card processing merchant account. At AMP, we are prepared to meet all of your payment processing needs by building a well-thought out, successful high risk processing plan.
As an aside, Jeffrey Shavitz, the Founder of AMP was formerly an investment banker at Lehman Brothers in the corporate finance, mergers & acquisitions division and is comfortable working with financial institutions and businesses involved in the finance industry.