Business Software
Accion Business Loans: 2022 Review
Published
10 months agoon

Our Take
The bottom line: Accion loans are a good option for borrowers who’ve been in business for three months or more and have been turned down by other lenders.
Pros and Cons
Pros
-
A broad range of loan amounts from $5,000 to $100,000.
-
Loans are available to businesses in operation for as little as three months.
-
Expanded credit guidelines for borrowers.
-
Customized loan terms.
-
No prepayment penalty.
Cons
-
It can’t be used to get a business off the ground.
-
Shorter loan repayment periods of one to five years.
-
Slow processing speed compared to online lenders.
-
Not available in all U.S. states.
Full Review
Accion Opportunity Fund is a nonprofit community lender offering customized loans to small business owners throughout most of the U.S.
Over 80% of Accion clients identify as women, people of color or immigrants. In addition to small business loans, educational resources and coaching support in English and Spanish are also provided.
Accion is best for borrowers who:
-
Prefer customized options. Loan terms are structured based on your business needs.
-
Don’t have perfect credit. Factors other than your credit score can be used to determine qualification.
-
Have new businesses and can’t get funding elsewhere. Businesses only need to be in operation for three months to apply.
Accion loan features
Loan amount |
From $5,000 to $100,000. |
Interest rates |
5.99% to 14.99% for Small Business Progress loans. 4% subsidized rate for Southern Opportunity And Resilience, or SOAR, loans for businesses located in certain southern states. |
Origination fees |
3.99% to 6.99%. |
12, 24, 36 or 60 months. |
|
Repayment schedule |
|
Funding speed |
5-7 days for loan application to be processed. |
Where Accion stands out
Expanded credit guidelines for borrowers
Accion says that most of its borrowers have not been able to get loans with traditional lenders because they have poor credit, no credit history or require a small loan amount. Accion can use more than a borrower’s credit score to determine qualification for a business loan.
Customized loan terms
Accion can structure a loan to meet your specific business needs. After submitting an application, you may be able to choose from several loan options with different term lengths, interest rates and payment amounts. In addition, if Accion can’t provide a loan, it will refer you to one of its partners or provide other financing options for you to explore.
Additional services offered
Accion does more to help small businesses than just offering loans. Business coaching and mentoring are also available. You can set up an appointment for one-on-one assistance provided by a business expert. Your coach can also help you enroll in training programs to enhance your leadership skills. In addition, its resource center offers videos, articles, and interactive learning materials.
Where Accion falls short
Funds can’t be used to start a business
Accion loans are designed to support existing small business owners. But, again, your business must be in operation for a minimum of three months to qualify for an Accion loan. That means you won’t be able to use loan funds to start a business.
Loan programs aren’t available in all U.S. states
Accion loans are available in most U.S. states, but you won’t be eligible if your business is located in Montana, North Dakota, South Dakota, Tennessee or Vermont. Also, Southern Opportunity and Resilience (SOAR) funding is limited to businesses located in Alabama, Arkansas, Delaware, Florida, Georgia, Louisiana, Maryland, Mississippi, North Carolina, Oklahoma, South Carolina, Texas, Virginia, or Washington, D.C.
Accion loan requirements
-
Credit score: No minimum required.
-
Time in business: Minimum of 3 months in business.
-
Annual revenue: Varies depending on the loan program.
How to apply for a loan from Accion
After completing an application online, you’ll receive a quote. Accion says that the quote won’t affect your credit score. You will need to provide some basic information about your business, including revenue and expenses. Accion will then review your loan options with you, including interest rates, repayment amounts and the repayment period. If there are no options that work for you, Accion can refer you to other resources.
If you decide to move forward with the loan offer, you’ll be asked to provide documents that Accion can use to verify the information you provided on your application. After that, your loan will be finalized; you’ll sign loan documents and then receive funds.
Alternatives to Accion
SBA loan
An SBA loan is another option to consider. These loans are offered through banks but partially guaranteed by the Small Business Administration. This can make it easier to qualify because the lender takes on less risk. In addition, funds from an SBA loan can be used to start a business. This differs from an Accion loan, which requires your business to operate for a minimum of three months to qualify. SBA loans also offer flexibility when a borrower has less-than-perfect credit.
Kiva U.S.
Kiva is another nonprofit that is an option to ponder. You can get up to $15,000 at 0% interest if you qualify. Kiva loans don’t require a minimum credit score or collateral. Still, there are other eligibility requirements, such as the business must be based in the U.S. and you can’t currently be in foreclosure, bankruptcy or under any liens. One unique Kiva provision is that borrowers are asked to demonstrate their strength of character by having friends and family make loans to them.
Compare business loans
If you’d like to compare loan options, NerdWallet has a list of best small-business loans. All of our recommendations are based on the lender’s market scope and track record, the needs of business owners, rates, and other factors so that you can make the right financing decision.
Business Software
Best Barcode Label Printers for Small Business
Published
10 months agoon
May 20, 2022
The best barcode label printers make it easy to create and print codes that help you track your inventory. Thermal printers, which use heat to print, eliminate the need for ink and can print hundreds of labels per minute.
Some barcode printers are also compatible with point-of-sale systems, so keep an eye out for your preferred software. However, just because your POS system isn’t listed doesn’t mean you can’t use the associated printer; it may just require exporting and reformatting your labels to print from a computer.
Rollo Label Printer: Best overall
Cost: $180.
-
Phone, chat and email support.
-
Integrated shipping platform.
-
Option to print for a wide size range, from barcodes to shipping labels.
-
Not wireless; connects through USB.
Why we like it: The Rollo is the industry standard for shipping label printers, and it works for barcode labels and a variety of other uses, too. You can print on any direct thermal label, including free UPS labels, unlike other brands which are only compatible with their own branded label paper. The device is compatible with Windows, Mac, and all major shipping platforms and marketplaces including Shopify and Etsy. The wireless version is available for about $280.
Brother QL-810W: Best for portability
Cost: $180 and up.
-
Wireless connectivity.
-
Lightweight and compact.
-
Compatible with Mac, Windows, and mobile apps AirPrint and Brother iPrint&Label.
-
Prints in black and red. (Most label printers only print in black.)
-
Software can be complicated to set up.
Why we like it: Brother’s QL line of label printers are lightweight and durable. Reviews note some difficulties with setup, but once online these devices are among the best for wireless, high-speed and portable label printing. You can access and customize label templates with the Brother iPrint&Label mobile app. This model is our top pick, but the QL-800 and QL-1100 are similar in function and price.
Zebra ZD421: Best for durability
Cost: $440 and up.
- Compact
-
Compatible with Android and iOS.
-
Wireless connectivity.
-
Can be used for shipping labels.
-
Pricier than other options.
Why we like it: Zebra makes reliable, industrial-quality printers that can withstand long-term use. Reviewers say the ZD421 is a consistent, speedy model. Like other Zebra printers, it’s ideal for high-volume retail businesses and warehouses. Zebra printers are an investment, but they’re known to be high-performing and long-lasting.
Phomemo-M110: Best low-cost option
Cost: $66 and up.
Compatible business software not available.
Pros
- Low
-
Lightweight and portable.
-
Bluetooth connectivity.
- Android and iOS app includes label templates and editing feature
Cons
-
Less powerful than higher-priced options.
-
Only for barcode and product labels; can’t create shipping labels.
-
Only compatible with Phomemo app.
Why we like it: The Phomemo-M110 is small, but fully capable. It’s a great option for businesses making sales on-the-go, like at farmers markets and festivals. The rechargeable device is unlikely to last as long as most of the other options listed here, but it works well for businesses on a budget. For a slight upgrade, the Phomemo-M220 for $91.99 can connect with USB and has more label size options.
Dymo LabelWriter 550: Best high-speed option
Cost: $150 and up.
Compatible business software includes: Shopify, Lightspeed, Square.
-
Compatible with Mac and Windows.
-
Can print directly from e-commerce websites, including Shopify and Etsy.
-
Can only be used with authentic Dymo brand label paper.
-
Not wireless; connects through USB.
Why we like it: The LabelWriter is a high-speed device, printing up to 90 labels per minute. You can access and customize templates with the company’s free software, and print in high resolution. However, newer Dymo models, including this one, are only compatible with Dymo-brand paper, so materials can get costly. For a larger option that can print shipping labels as well as barcode labels, try the similar LabelWriter 4XL.
Business Software
13 Best Credit Card Readers for Small Businesses
Published
11 months agoon
May 18, 2022A credit card reader is essential to many small businesses, and choosing the right card reader can help your company operate more smoothly.
The best choice depends on your budget, features needed and whether you’re accepting payments at a counter or on the go. Some card readers — such as those that work with iPhones — are portable, while others are attached to a countertop register. A basic card reader without a screen is the cheapest option, and sometimes free. A comprehensive POS system, on the other hand, comes with sophisticated features and can cost over a thousand dollars.
Below is a list of the best credit card readers for small businesses and what they can do for your business.
Quick comparison: Take a quick side-by-side look at our top picks in this table.
Accept payments without worry
See our payment provider recommendations that fit your business.
Square Contactless and Chip reader
Best free option with basic functions

Image courtesy of Square
Style: Connects to compatible phone or tablet via Bluetooth.
Price: $49 for reader and $29 for optional dock.
Fees: 2.6% plus 10 cents for most in-person transactions; no monthly fees.
Square’s contactless and chip card reader enables you to accept credit cards with chips and digital wallets, such as tap-and-pay credit cards and smartphone apps, including Apple Pay, Google Pay and Samsung Pay. It uses Bluetooth technology instead of connecting directly to a device, which means you don’t have to keep your cell phone or tablet out with you all the time.
The reader must be charged, but the charging dock can double as a support for the reader for a counter or table. You can also charge it with a USB charger.
Has a compact design. |
Doesn’t swipe credit cards. |
Reads chip cards, digital wallets and contactless cards. |
Takes up to two hours to charge. |
Best for on-the-go payments for all card types

Courtesy of Clover
Style: Connects to compatible phone or tablet via Bluetooth.
Price: $99 for reader.
Fees: Varies from 2.3% plus 10 cents up to 3.5% plus 10 cents depending on method.
This credit card reader by Clover works with phones and tablets via Bluetooth. It also processes every type of credit card payment your customers could want: magstripe-only cards, chip cards and contactless payments. It costs $99 and requires users to purchase a monthly plan.
Features depend on the plan you choose. The Essentials Plan for $9.95 per month provides basic payment processing, inventory management, taxes, reporting and employee management with 24/7 support.
Includes interest-free installment plans. |
Takes about 2 hours and 20 minutes to charge. |
Charges via standard USB charger. |
Requires a monthly fee for advanced POS features. |
Uses passcodes for employees. |
PayPal Zettle

Image courtesy of PayPal
Best for PayPal and Venmo payment options
Style: Connects to compatible phone or tablet via Bluetooth.
Price: $79 for reader; new customers can get their first one for $29.
Fees: Varies by method, starting at 1.9% plus 10 cents for PayPal and Venmo QR code transactions over $10.
PayPal’s Zettle accepts chip and contactless payments, but it doesn’t read magstripes. It does, however, let customers pay with QR codes on PayPal and Venmo platforms. Its POS software offers invoice creation, inventory management, tracking sales performance and more.
Transaction fees generally fall in line with competitors with lower rates available for transactions made by QR code. All funds go into your PayPal account rather than a bank account. You’ll need to request a transfer to move the funds to your business bank account before you can use them outside of PayPal.
Has lower rates for PayPal and Venmo platforms. |
Deposits funds into your PayPal account, not a bank account. |
Includes new customer discount for first reader purchase. |
|
Has a screen to show transaction details. |
SumUp Plus

Image courtesy of SumUp
Best for a low-cost do-it-all reader
Style: Connects to compatible phone or tablet via Bluetooth.
Price: $19 for reader.
Fees: Varies from 2.75% and up depending on method.
Powerful and compact, the SumUp Plus credit card reader works through Bluetooth with Apple and Android devices and promises more than 500 transactions on one charge. In addition to having a screen to show transaction details, the reader comes with a few helpful POS software features, like inventory management and permissions for employee access, as well as customizable invoicing. However, you might find that the overall POS is lacking when compared with the more robust options on the market.
SumUp charges only for transactions and doesn’t require a monthly fee. You can order the reader for $19 and start accepting card transactions in a matter of minutes once it’s connected to the SumUp app.
Accepts swiped, inserted and contactless payments. |
Has less robust POS software features. |
Has a screen that displays transaction details. |
Clover Flex

Image courtesy of Clover
Best for an all-in-one handheld system
Style: Standalone handheld reader.
Price: $499 for reader; monthly contract required.
Fees: Varies from 2.3% plus 10 cents up to 3.5% plus 10 cents depending on monthly plan.
The Clover Flex is a small but powerful handheld credit card reader. It can process all three credit card payment types, scan bar codes and even print receipts. It’s one of the few options in this category that has its own screen, removing your personal device from the equation and allowing customers a bit more of a professional experience when checking out on the spot.
Depending on your monthly plan, the Clover Flex can help you manage inventory, view sales data and set up individual logins for employees. It costs $499, but the company offers payment plans to break up the cost. Payment processing rates depend on your pricing plan.
Works without connecting to a personal device. |
Requires an initial investment. |
Has payment plans available. |
Requires monthly plan for advanced features. |
Has a free monthly plan for basic features. |
Helcim Card Reader

Best for low-cost transaction fees with volume-based discounts
Style: Connects via Bluetooth.
Price: $109 for the reader.
Fees: Varies by card type and monthly average transaction total.
Helcim’s card reader processes all three types of payments and connects via Bluetooth, meaning it needs to be charged. It also provides POS software with well-developed features, including customer management and inventory tracking that notifies you when your supply gets low. A standout feature is its self-service portal, which allows customers to log in to see their payment information and purchase history.
Helcim’s processing fees can be difficult to calculate because it bases its fees on the type of card and interchange fees, which are set by card networks. It also offers volume-based discounts based on transaction tiers. The more you average in transactions per month, the higher your discount. The processor doesn’t require you to sign a contract, choose a monthly fee or pay to cancel your service.
Has volume discounts available. |
Might change processing rate if monthly transaction average drops. |
Has robust POS software features. |
Might be difficult to calculate monthly cost in advance. |
Toast Go 2

Image courtesy of Toast
Best for tableside payments at restaurants
Style: Standalone handheld reader.
Price: $389 plus $50 per month.
Fees: Typically quote-based; lowest listed price is 2.49% plus 15 cents per in-person transaction in Standard Starter plan.
The Toast Go 2 allows you to submit orders at tables and accept all three styles of payment. It’s also spill proof, will hold a charge for 24 hours and has a 6.4-inch touchscreen for quick checkout. The free version of Toast’s POS software comes with basic features, including point-of-sale and payment processing, but advanced features are available with paid plans.
The free pay-as-you-go monthly plan with basic features has a processing rate of 2.99% plus 15 cents for every in-person transaction. That rate drops to 2.49% plus 15 cents if you pay for your hardware upfront. Other plans come with quote-based pricing. One downside: The company requires contracts with a standard term of two years.
Is designed specifically for restaurants. |
Requires quotes for advanced monthly plans. |
Offers 24/7 customer support. |
Requires a contract. |
Is versatile and durable. |
Square Terminal

Image courtesy of Square
Best compact countertop reader
Style: Standalone countertop reader.
Price: $299 for the reader.
Fees: Varies from 2.6% plus 10 cents up to 3.5% plus 15 cents depending on method; no monthly fees.
Square Terminal allows you to accept all three methods of credit card payments: chip, contactless and magstripe. And priced at $299, it comes in on the lower end of the all-inclusive card readers.
The company’s standard flat-rate processing fees apply and depend on whether you run the card in person or enter it manually. There’s no monthly contract.
Doesn’t require a separate device. |
Can take over four hours to charge. |
Shows transaction details. |
|
Is compact and easy to use. |
Square Stand

Image courtesy of Square
Best iPad-compatible register
Style: Register that connects to compatible iPad.
Price: $169 for the reader.
Fees: Varies from 2.6% plus 10 cents up to 3.5% plus 15 cents depending on method; no monthly fees.
The Square Stand is designed specifically for a single smart device: the iPad. Snap an iPad into the Square Stand, and use it as a desktop point-of-sale. The configuration allows you to provide a larger screen for transaction details, and the swivel feature allows customers to sign on the iPad without having to pass the device around. It can process magstripe, chip and contactless payments and connect with a receipt printer. However, it works only with certain iPad models.
The company’s standard fees of 2.6% plus 10 cents apply for credit cards and can raise up to 3.5% plus 15 cents for methods outside a swipe, chip or contactless payment.
Swivels for customers to use. |
Only works with certain iPad models. |
Can be mounted to a countertop. |
Clover Mini

Image courtesy of Clover
Best all-in-one register
Style: Standalone countertop register.
Price: $749.
Fees: Varies from 2.3% plus 10 cents up to 3.5% plus 10 cents, depending on monthly plan.
The Clover Mini is a countertop setup that doesn’t require a tablet. It allows your business to accept all types of payments, print receipts and scan barcodes. You also get some nifty POS features, including inventory, customer and employee management functions with paid monthly plans.
This product is $749. Payment processing rates depend on your Clover pricing plan.
Can be mounted to a countertop. |
Requires paid monthly plan for advanced features. |
Works without an iPad. |
|
Has free monthly plan available. |
|
Has payment plans available. |
Clover Station Solo

Image courtesy of Clover
Best full register with a single screen
Style: Standalone countertop register.
Price: $1,349.
Fees: Varies from 2.3% plus 10 cents up to 3.5% plus 10 cents, depending on monthly plan.
The Clover Station Solo is a register-style system that offers merchants a 14-inch high-definition screen and a receipt printer for the full checkout experience. The system works with Clover’s POS for retail, offering payment processing, inventory and staff management, reporting and more. For restaurants, the Station Solo fits nicely with customizing and tracking orders, managing table mapping and much more for streamlined service.
Has fingerprint login. |
Requires one of the larger upfront investments. |
Uses fast processing speeds. |
Doesn’t have a free monthly plan option. |
Has robust POS software options. |
Square Register

Image courtesy of Square
Best full register setup with a customer-facing screen
Style: Standalone countertop register.
Price: $799 for reader.
Fees: Varies from 2.6% plus 10 cents up to 3.5% plus 15 cents depending on method; no monthly fees.
The Square Register is the first fully integrated credit card scanner system from Square and is a complete countertop POS system that can accept magstripe, chip card and contactless forms of payment. It boasts two screens — one for the employee and one for the customer to show transaction details — for a seamless experience. It also offers an extra-long cable that allows businesses to separate the Register and customer’s screen to encourage social distancing. Its software provides merchants inventory, employee and customer relationship management functions, plus a reporting suite where you can view sales data.
This small-business credit card reader option will cost your business $799, but there are payment plan options available. It processes transactions at the standard Square rates.
Has two screens. |
Must be plugged in at all times. |
Can be mounted to a countertop. |
|
Has advanced apps and software options. |
Clover Station Duo

Image courtesy of Clover
Best system for full checkout experience
Style: Standalone countertop register with dual screens.
Price: $1,649.
Fees: Varies from 2.3% plus 10 cents up to 3.5% plus 10 cents, depending on monthly plan.
The Clover Station Duo ups the game with a combination of a 14-inch screen for you and a 7-inch screen for your customers. This makes it easier for customers to confirm orders and pay however they want — credit card, debit card, and contactless payment methods. Designed for retail and restaurant environments, the Station Duo offers the same features of the Station Solo with more power.
While this option tops the list for the most expensive system, the Station Duo is currently sold with a cash drawer and a receipt printer, giving you the gamut of checkout features.
Has fingerprint login. |
Requires one of the larger upfront investments. |
Uses fast processing speeds. |
Doesn’t have a free monthly plan option. |
Has robust POS software options. |
|
Has two screens. |
Make payments make sense
Find the right payment provider to meet your unique business needs.

Credit card readers comparison table
Payments accepted |
Additional device required |
||||
---|---|---|---|---|---|
Square Contactless & Chip Reader |
Bluetooth. |
$49 (reader); $29 (dock). |
Chip and contactless. |
2.6% plus 10 cents and up. |
Compatible smartphone or tablet. |
Bluetooth. |
Chip, contactless and magstripe. |
2.3% plus 10 cents and up. |
Compatible smartphone or tablet. |
||
PayPal Zettle |
Bluetooth. |
Chip and contactless. |
1.9% plus 10 cents and up. |
Compatible smartphone or tablet. |
|
SumUp Plus |
Bluetooth. |
Chip, contactless and magstripe. |
2.75% and up. |
Compatible smartphone or tablet. |
|
Clover Flex |
Chip, contactless and magstripe. |
2.3% plus 10 cents and up. |
|||
Helcim Card Reader |
Bluetooth. |
Chip, contactless and magstripe. |
Varies by card type and monthly transaction average. |
Compatible smartphone or tablet. |
|
Toast Go 2 |
Chip, contactless and magstripe. |
2.49% plus 15 cents and up. |
|||
Square Terminal |
Chip, contactless and magstripe. |
2.6% plus 10 cents and up. |
|||
Square Stand |
Chip, contactless and magstripe. |
2.6% plus 10 cents and up. |
Compatible iPad. |
||
Clover Mini |
Chip, contactless and magstripe. |
2.3% plus 10 cents and up. |
|||
Clover Station Solo |
Chip, contactless and magstripe. |
2.3% plus 10 cents and up. |
|||
Square Register |
Chip, contactless and magstripe. |
2.6% plus 10 cents and up. |
|||
Clover Station Duo |
Chip, contactless and mapstripe. |
2.3% plus 10 cents and up. |
Business Software
Your Payment Processor Froze Your Account — Now What?
Published
11 months agoon
May 17, 2022
It’s a small business’s worst nightmare: You’ve been notified by your payment processor that your transactions are being investigated for potentially fraudulent activities. Your account has been frozen, you’re not allowed to process any transactions until further notice and what funds were being processed aren’t going to be deposited. Your entire revenue stream is stalled.
But there are a few things you can do to work with your payment processor to try to speed up the release of funds and reinstatement of your account. Here’s what you need to know about processing account freezes and how to respond.
Account freeze vs. account hold
An account freeze differs from an account hold. When a payment processor puts a hold on a merchant account, usually only certain transactions are held by the processor. It doesn’t stop all transactions, so you still have access to some funds. If a payment processor puts a hold on certain transactions because it requires a minimum reserve to cover the potential costs of chargebacks and fraudulent transactions, it will keep these funds indefinitely while allowing you to continue to process payments from customers. Think of it as a deposit that you’ll get back if you ever close your account in good standing.
When a payment processor freezes a merchant account, however, it halts all activity and holds funds until it can investigate suspected fraud or agreement violations. During an account freeze, a merchant is unable to process any transactions and cannot have any pending funds transferred to their bank account. Essentially, a business’s ability to accept cards can be stalled until an investigation proves the transactions are legitimate.
How long will your account be frozen?
Payment processors generally stipulate in their contracts that they can freeze accounts and investigate merchant activity for up to 120 days. But that doesn’t mean that your account will be frozen for that long. If you work with the payment processor to resolve the issue quickly, the freeze might be lifted sooner. Two businesses can raise the same red flag and have different results: The one that provides the right information immediately can have its account unfrozen within a week, while the business that drags its feet could wait a month or more to have access to funds.
Regardless of how cooperative you are, it’s smart to think about what you’ll do financially if your account is frozen for the full 120 days.
Most payment processors outline in their terms of use what actions they can take in certain situations, like suspected fraud, and what they are legally allowed to do to combat potential payment fraud. While it is frustrating to have your account frozen without warning, learning why it happened can help you avoid similar situations in the future.
What to do next
Talk with your processor
You need to understand what caused the account freeze and what you can do to resolve the issue quickly. The processor might not be able to give you a full explanation of what it’s looking at to ensure it can carry out an investigation, but it should be able to tell you why your account has been frozen and what you can do to assist the investigation.
Provide information
If your processor requests information or documentation relating to specific transactions, provide it as quickly and transparently as possible. The more quickly you offer up details, the more quickly your payment processor is likely to resolve the issue.
How to accept other payment methods
To keep up some revenue while your account is being reviewed, you can accept other payment methods. Consider how the following payment methods might work for your business:
-
Cash. This is a great option for in-person transactions because there are no processing fees attached to the payment. Be sure to alert customers in advance so they know to stop by the ATM.
-
Checks. With customers you know well and trust, checks can be a credit card alternative. But be wary of accepting checks from everyone: Having several bad checks bounce won’t help your situation.
-
Peer-to-peer apps. Apps like PayPal, Venmo, Zelle and Cash App offer business accounts that allow customers to send you money directly, which is deposited into your app account. This can be a good backup for accepting card payments — but note that these transactions are still subject to terms and conditions and, as with other processors, your account could be frozen for suspicious activity.
-
Backup payment processor. This is an option if you absolutely have to process credit cards while your account is being investigated, although don’t rush into a new contract that could put you on the hook for more fees. However, this is not an option for businesses that are labeled high risk because of consistent fraudulent behavior and that have been added to the Member Alert to Control High-Risk Merchants — or MATCH — list, which is shared among payment processors while reviewing new merchant applications.
Prioritize your business-critical expenses
After speaking with the processor and providing its team with information, your next step is to make a plan for how to mitigate any harm to your business finances. You’ll need to think about how you’re going to handle:
-
Paying employees.
-
Pausing subscriptions that you won’t be able to afford, such as automatic inventory purchase.
-
Paying for overhead that can’t be paused, like rent.
-
Alerting customers about changes in payment processing.
-
Disabling e-commerce payment options on your website.
If you don’t have a savings fund to fall back on, consider looking for someone to help you address financial concerns and research how to find assistance in the meantime.

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