Not all businesses will qualify for a merchant account. Below is a listing of probable approval rates. Some businesses will not qualify for a standard merchant account. Businesses with a high chance of chargebacks are very hard to get approved.
Merchant Approval Rates
These businesses are approved automatically for a merchant
account, regardless of credit:
Restaurants
Supermarkets
Retail shops
Pay-at-Pump
Lodging
Good credit preferred, 99% approvals:
Mail Order
Phone Order
E-Commerce
Retail Sales 99% approvals, Good credit preferred:
Jewelry
Used-Cars
Store Front: Computers, Electronics, Cell-Phones, Furniture, Tires
Contractors
Service Business
Home-Based Retail
Limo
90% to 95% approval rate, MO/TO or Internet businesses:
Computers
Electronics
Jewelry
Wholesale
Web Hosting
Web Design
Seminars
Membership
Meramak Bankcard is considered to have one of the most liberal and
flexible underwriting criteria in the payment processing industry.
A principal reason for our high approval rates and fast turnaround
is the cooperation we receive during the underwriting process from
the processing bank. A voided check and business license is needed
for a merchant account. Other materials may be needed.