NoChex Review: The Best Alternative Merchant Account?
After carving out a space in the merchant account market, could Nochex be what your business
Best No Credit Check Merchant Accounts
Some payment processors aren't as strict when it comes to businesses with poor credit. Read about the best no credit check merchant account here.
What is a Merchant Account?
A merchant account is a type of bank account that allows you to accept digital payments securely. They act as a middleman between your business’s bank and your customer’s bank so, if you want to take digital payments, you need to get yourself a merchant account.
A no-credit-check merchant account does what it says on the tin. If you’ve got a bad credit history or you’re just starting up, you could benefit from one.
If you want to know more about what merchant accounts are and how they work, read our page on everything you need to know about merchant accounts.
What is a No Credit Check Merchant Account?
Merchant accounts come in all kinds of shapes and sizes. Many of them do credit checks on the businesses they serve.
Some companies have emerged with alternatives to conventional merchant accounts, whereby they process your payments without using one. These providers also don’t do credit checks, so what they offer is, in essence, a no-credit-check merchant account.
Companies like Square and PayPal, for example, have dominated this new area of the market. This is largely due to their simplicity and lack of background checks.
While they’re not traditional merchant accounts, companies like these do still operate like merchant accounts in that they process payments on your behalf. They just do so in a different way.
No credit check merchant accounts are viable options for both businesses that are just starting, and those that have a poor credit history.
Many of the traditional payment processors are more likely to turn down applications from businesses with bad credit, so these businesses often look to the alternatives available.
Does Your Business Need a No Credit Check Merchant Account?
If your business has a poor credit history, you could benefit from using a payment processor that won’t do a credit check. Several companies can provide you with this, and choosing the best one for your business is an important decision. Choosing such a provider could also be a good idea for high-risk businesses.
The fees a payment processor charges will be your main consideration, but other factors like ease of use, trustworthiness, and suitability should also be key considerations.
We’ve chosen just four payment processors for you to explore; these are by no means the best four available, they’re just to give you an idea of what’s available. All of the companies on this list have no credit check merchant accounts.
What industry are you in?
Please select the industry that you trade within. This information allows us to tailor your quote.
With PayPal for Business, you’re able to connect with millions of PayPal users and give them an easy way to pay. Much like Amazon Pay, Paypal for Business can be integrated with your website’s checkout page.
The takings then go through PayPal’s own platform before they’re transferred to your bank account. Its wide range of digital payment options, which includes Apple Pay and Google Pay, means your customers can check out in a way that suits them.
PayPal for Business also offers physical ways to pay with its Zettle card reader. So you can take payments both online and in-person with one simple PayPal account.
PayPal’s brand also means people are more likely to trust your payment process. This means you can retain a strong and trusting relationship with your customers while putting their personal choices at the heart of your checkout process.
Square makes things simple for its customers which means it makes things simple for yours. With Square, you can take payments in-person using its wireless card reader. The payments are then processed with Square’s app and sent to your bank account as soon as the next working day or, for a small fee, instantly.
If you use Square, you don’t require any form of conventional merchant account. It’s great for small businesses looking to start taking digital payments without committing to long-term contracts.
Square’s lack of background checks, no monthly cost, and no start-up fee make it one of the cheapest and easiest ways for businesses to take electronic payments.
If you have a small physical start-up business and want to take digital payments without using a conventional merchant account, Square could well be for you.
Amazon Pay
Website integration that offers an easy way for customers to pay online.
Amazon Pay offers your customers the option to pay using the shipping and payment information that’s stored on their Amazon account. It’s integrated with your website, making it an easy and secure process for your customers.
The system also supports a broad range of business models, including deferred payments and subscriptions, so your customers have a choice in how they pay. It’s easy to set up and Amazon’s trustworthiness means your customers will trust your payment process.
Amazon is one of the world’s biggest brands, so your users probably already have what they need to use Amazon Pay. This means you can be confident your customers will be able to use it. You could, therefore, choose to only use this payment method, which could save you hassle in the long run.
While Amazon Pay offers great integration and ease of use to your customers, it is an online system. If you do most of your business from a physical shop, it’s not for you.
Want to know more about how card payments work?
If you’re confused about anything you’ve just read, don’t worry. While this article focuses on the best no-credit-check merchant accounts for your business, we also have in-depth guides that fully explain everything else you need to know about taking payments. Explore below:
Nochex offers a simpler alternative to the more traditional merchant accounts. Where a merchant account usually involves a payment gateway and processor, Nochex incorporates all of these into one simple solution.
Its all-in-one package means you can send invoices, collect subscriptions and accept payments online and over the phone all with one merchant account. The company also considers applications and will not decline any due to a bad credit history.
Setting up is easy too. You can create your merchant account and start taking payments within one day of sending your application through.
One thing to remember is Nochex doesn’t allow you to take payments face-to-face, so it’s only suitable if your business operates solely online.
Find the No Credit-Check Merchant Account for You
Now you know a bad credit score doesn’t mean you can’t get a merchant account, it’s time for the next step.
Making that next step has never been easier. You just need to provide us with some basic information about your business. We then collect quotes from various merchant account providers. You can then choose the one that best suits you.
If you’d like to do some more research, we’ve written an article about how to open a merchant account that could be helpful for you.
FAQs
Are merchant accounts free?
Though many merchant accounts are free to set up, they will come with a basic fee that they charge for transactions. This will be a certain percentage of the purchase price and may change depending on the volume of transactions.
The fees a merchant account charges are an important consideration when it comes to choosing the merchant account for you.
What is a merchant account?
A merchant account allows you to securely accept credit and debit payments.
A merchant account is needed to facilitate the movement of money from your customer’s bank account to your bank account so, if you want to take electronic payments, you need to get yourself a merchant account.
Do all merchant accounts do a credit check?
No. While most merchant account providers will do a credit check on your business, some don’t have this as a requirement. Though you should do your own research to find the best merchant account for your business, here are some to get you started:
- Paypal
- Nochex
- Square
- Amazon Pay
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