Our Team has 20+ Years of High-Risk Payment Processing Experience
We have the largest network of high risk banks in the industry, and growing! Paydiverse has thoroughly tested numerous processing banks to understand which are the perfect fit for every high-risk merchant account category. We have a diverse array of solutions per business type unlike anyone else in the industry.
- 24-48 Hour Payouts
- Lowest Rates, Multiple Bank Approvals
- Fast Approvals
- 100% Digital Application
Secure Payment Processing
In 3 Simple Steps
Complete our quick and easy online application
Digitally sign applications using your mouse
Securely upload supporting documents
Applications are sent to all banks that have pre-approved you
Banks will review and determine a processing limit
Daily updates sent with additional documents and final approvals
Payment Gateways are activated
Integrate your Payment Gateway with the backend of your site
Start accepting payments from your customers immediately
Payday Loan Merchant Accounts
Thankfully, PayDiverse is here to help. We offer payment processing solutions to payday loan merchants who offer high-interest and high-risk cash advances and installment loans. We even work with merchants who provide online installment loans. Our payment solutions include a variety of tools and services that are meant to protect payday loan merchants from many of the risks that come along with operating within the industry, including credit card fraud and unwarranted chargebacks.
Unfortunately, while there’s plenty of preventative measures that each person can take to protect their identity, criminals will always find a way to steal sensitive data and use it to open fraudulent accounts or make unauthorized purchases. Luckily, there are companies that offer identity theft protection services to protect Americans from stolen credit cards and IDs. These businesses offer a range of products and services to help keep personal data safe and help people avoid the financial loss that comes with identity theft.
Merchants that offer identity theft protection services often require specialized merchant services that cater to high-risk industries. At PayDiverse, we offer merchant services for ID theft protection merchants and offer years of expertise in payment processing, chargeback protection, and fraud protection to every merchant we work with.
Fraud and Chargeback Risks Within the Payday Loan Industry
Unfortunately, identity theft and fraud are other common issues that plague payday loan merchants as well. Criminals who have stolen identities and credit cards will often take out cash advances and online installment loans fraudulently, as it’s a quick way to receive cash before the cardholder reports that their information has been stolen.
These risks are the primary reason that the industry has been deemed high-risk, as banks and payment processors are unwilling to leave themselves vulnerable to excessive amounts of fraud and chargebacks and don’t always have adequate protection in place to deal with this level of risk.
How PayDiverse Protects Cash Advance and Installment Loan Merchants from Fraud
iSpy Fraud Prevention
Offshore and Multi-Bank Processing
Our large network of banks both offshore and in the U.S. allows us to provide payday loan merchants with multi-bank processing. This means that we’ll process payments across a minimum of four accounts, thus reducing exposure and ultimately, ensuring that chargeback ratios remain low and account closures are avoided.
Begin Processing with PayDiverse
Diverse Payment Processing is Smart Processing
Fill out our free and quick merchant account application and let us match you with many banks that want your business.