Recommendation for a merchant account for Telecom
Hello, Can you recommend a merchant bank or broker who will work with the telecom industry? I am sure that the problem is not for the giants of the industry but small telecom companies now have the negative label "VoIP". It does not really matter what you do exactly and how you provide services not even if you have years of clean record, the banking industry defines you as "VoIP" and it does not matter much what you say. I am just looking for referrals to brokers or banks who ARE interested in good customers in the industry. If you have a recommendation I would appreciate it very much. Send me a PM if you prefer. Thanks! Oren
Aaron Cooper Account Manager IPPay 2001 Broadway, Suite 600, Riviera Beach, FL 33404 Tel: (561) 210-3504 | Cell: 417-483-4651 | Fax: 847-346-0991 acooper at ippay.com Let him know I sent you. IP Pay specializes in recurring transactions for ISPs, so VoIP shouldn't be much different. ----- Mike Hammett Intelligent Computing Solutions http://www.ics-il.com Midwest Internet Exchange http://www.midwest-ix.com ----- Original Message ----- From: "Oren Yehezkely via VoiceOps" <voiceops at voiceops.org> To: "voiceops at voiceops.org" <VoiceOps at voiceops.org> Sent: Friday, October 28, 2022 4:01:38 PM Subject: [VoiceOps] Recommendation for a merchant account for Telecom Hello, Can you recommend a merchant bank or broker who will work with the telecom industry? I am sure that the problem is not for the giants of the industry but small telecom companies now have the negative label "VoIP". It does not really matter what you do exactly and how you provide services not even if you have years of clean record, the banking industry defines you as "VoIP" and it does not matter much what you say. I am just looking for referrals to brokers or banks who ARE interested in good customers in the industry. If you have a recommendation I would appreciate it very much. Send me a PM if you prefer. Thanks! Oren _______________________________________________ VoiceOps mailing list VoiceOps at voiceops.org https://puck.nether.net/mailman/listinfo/voiceops
On Fri, Oct 28, 2022 at 05:01:38PM -0400, Oren Yehezkely via VoiceOps wrote:
Can you recommend a merchant bank or broker who will work with the telecom industry? I am sure that the problem is not for the giants of the industry but small telecom companies now have the negative label "VoIP". It does not really matter what you do exactly and how you provide services not even if you have years of clean record, the banking industry defines you as "VoIP" and it does not matter much what you say.
Yeah, we had a huge problem with this when we at JMP moved from ad hoc payments to a proper payment processor. Stripe explicitly disallowed "phone services" (some have told me you may be able to get written approval for an exception, but I haven't heard of anyone who succeeded), and others we tried (like Bambora) told us after onboarding that actually they don't support new VoIP customers. We had specifically tried Bambora because we saw they processed payments for VoIP.ms. But they claimed that was grandfathered and they wouldn't do it again. Anyway, we use Braintree now, which is just like any other processor from what we can tell. It may be better in the sense that they vet you before letting you start accepting payments (vs. Stripe, which vets you after, and freezes your funds if their later vetting process finds they don't like you). But otherwise they seem to have the same pricing, and happen to accept phone service providers as customers. Frankly, we prefer other payment methods, since they have way less fraud than credit cards, but of course people like credit cards for various reasons. I'm sure others here have tips on reducing fraud (especially if you let people dial international numbers) if that's a concern of yours. If you meant something other than a payment processor, my apologies. We didn't have issues getting a bank account, only a payment processor, which is I why I responded this way. Denver https://jmp.chat/
Also Braintree, also fine, and competitively priced. We use the PayPal Payflow Pro gateway, which was included in the price, as PayPal owns Braintree. Beckman On Fri, 28 Oct 2022, Denver Gingerich via VoiceOps wrote:
On Fri, Oct 28, 2022 at 05:01:38PM -0400, Oren Yehezkely via VoiceOps wrote:
Can you recommend a merchant bank or broker who will work with the telecom industry? I am sure that the problem is not for the giants of the industry but small telecom companies now have the negative label "VoIP". It does not really matter what you do exactly and how you provide services not even if you have years of clean record, the banking industry defines you as "VoIP" and it does not matter much what you say.
Yeah, we had a huge problem with this when we at JMP moved from ad hoc payments to a proper payment processor. Stripe explicitly disallowed "phone services" (some have told me you may be able to get written approval for an exception, but I haven't heard of anyone who succeeded), and others we tried (like Bambora) told us after onboarding that actually they don't support new VoIP customers. We had specifically tried Bambora because we saw they processed payments for VoIP.ms. But they claimed that was grandfathered and they wouldn't do it again.
Anyway, we use Braintree now, which is just like any other processor from what we can tell. It may be better in the sense that they vet you before letting you start accepting payments (vs. Stripe, which vets you after, and freezes your funds if their later vetting process finds they don't like you). But otherwise they seem to have the same pricing, and happen to accept phone service providers as customers.
Frankly, we prefer other payment methods, since they have way less fraud than credit cards, but of course people like credit cards for various reasons. I'm sure others here have tips on reducing fraud (especially if you let people dial international numbers) if that's a concern of yours.
If you meant something other than a payment processor, my apologies. We didn't have issues getting a bank account, only a payment processor, which is I why I responded this way.
--------------------------------------------------------------------------- Peter Beckman Internet Guy beckman at angryox.com https://www.angryox.com/ ---------------------------------------------------------------------------
I currently use Quickbooks Merchant Services, but I know an agent who also does it so you can check out both. Stevin Dahl Alchemy Strategic Ventures Inc Cell: 515-708-1686 MARY LOU CAREY BackUP Telecom Consulting Office: 615-791-9969 Cell: 615-796-1111 On 2022-10-28 05:28 PM, Peter Beckman via VoiceOps wrote:
Also Braintree, also fine, and competitively priced. We use the PayPal Payflow Pro gateway, which was included in the price, as PayPal owns Braintree.
Beckman
On Fri, 28 Oct 2022, Denver Gingerich via VoiceOps wrote:
On Fri, Oct 28, 2022 at 05:01:38PM -0400, Oren Yehezkely via VoiceOps wrote:
Can you recommend a merchant bank or broker who will work with the telecom industry? I am sure that the problem is not for the giants of the industry but small telecom companies now have the negative label "VoIP". It does not really matter what you do exactly and how you provide services not even if you have years of clean record, the banking industry defines you as "VoIP" and it does not matter much what you say.
Yeah, we had a huge problem with this when we at JMP moved from ad hoc payments to a proper payment processor. Stripe explicitly disallowed "phone services" (some have told me you may be able to get written approval for an exception, but I haven't heard of anyone who succeeded), and others we tried (like Bambora) told us after onboarding that actually they don't support new VoIP customers. We had specifically tried Bambora because we saw they processed payments for VoIP.ms. But they claimed that was grandfathered and they wouldn't do it again.
Anyway, we use Braintree now, which is just like any other processor from what we can tell. It may be better in the sense that they vet you before letting you start accepting payments (vs. Stripe, which vets you after, and freezes your funds if their later vetting process finds they don't like you). But otherwise they seem to have the same pricing, and happen to accept phone service providers as customers.
Frankly, we prefer other payment methods, since they have way less fraud than credit cards, but of course people like credit cards for various reasons. I'm sure others here have tips on reducing fraud (especially if you let people dial international numbers) if that's a concern of yours.
If you meant something other than a payment processor, my apologies. We didn't have issues getting a bank account, only a payment processor, which is I why I responded this way.
--------------------------------------------------------------------------- Peter Beckman Internet Guy beckman at angryox.com https://www.angryox.com/ --------------------------------------------------------------------------- _______________________________________________ VoiceOps mailing list VoiceOps at voiceops.org https://puck.nether.net/mailman/listinfo/voiceops
We've been happily using Paypal for cards for many years. Doesn't seem to be any issue with our category. Every time I get a pitch from a merchant account vendor, they say they can't beat the rate. PP has the same rate for all cards, and since we're B2B only, most people use Amex. That said, cards are only a small percentage of our income, mostly it's checks and ACH. On Fri, Oct 28, 2022 at 4:02 PM Oren Yehezkely via VoiceOps < voiceops at voiceops.org> wrote:
Hello,
Can you recommend a merchant bank or broker who will work with the telecom industry? I am sure that the problem is not for the giants of the industry but small telecom companies now have the negative label "VoIP". It does not really matter what you do exactly and how you provide services not even if you have years of clean record, the banking industry defines you as "VoIP" and it does not matter much what you say.
I am just looking for referrals to brokers or banks who ARE interested in good customers in the industry. If you have a recommendation I would appreciate it very much. Send me a PM if you prefer.
Thanks!
Oren _______________________________________________ VoiceOps mailing list VoiceOps at voiceops.org https://puck.nether.net/mailman/listinfo/voiceops
participants (6)
-
beckman＠angryox.com -
caalvarez＠gmail.com -
denver＠ossguy.com -
marylou＠backuptelecom.com -
orenyny＠gmail.com -
voiceops＠ics-il.net