Credit Card Processing Services for Gold & Silver Dealer Businesses

Gold and precious metals merchants are often categorized as high-risk businesses, which makes it incredibly difficult to obtain traditional merchant accounts. Many banks are unwilling to work with high-risk merchants, and when they do, they often require large cash reserves and charge exorbitant processing fees. For businesses dealing in gold coins, silver coins, silver bars, and other precious metals, securing a merchant account can be a challenging and frustrating process.

At MBankcard, we specialize in providing tailored merchant account solutions for precious metals merchants. Our high-risk processing accounts are designed to offer secure, affordable, and reliable payment processing without the exorbitant rates typically associated with high-risk industries.

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The Need for a Specialized Merchant Account

For businesses that deal in gold, silver, and other precious metals, having the ability to accept credit card payments is essential for growth. Merchant accounts for precious metals dealers allow you to offer flexible payment options for your customers, including Visa, Mastercard, Amex, and Discover, which can boost sales and improve customer satisfaction.

With fluctuating prices and high-value transactions, having a secure, reliable payment processing solution is critical. Merchant accounts for precious metals dealers ensure smooth and secure transactions, preventing potential fraud and chargebacks while maintaining compliance with industry standards.

Why is the Industry Considered High-Risk?

Merchants in the industry of selling gold, silver, coin collectibles, and precious metals industry face several challenges that make them high-risk in the eyes of traditional payment processors. Understanding these factors is crucial to selecting the right payment processing solution.

• High-Value Transactions: Transactions involving gold, silver, and other precious metals often involve large sums of money, typically exceeding $100 per transaction. These high-value transactions put merchants at greater risk for fraud and chargebacks, as the financial stakes are higher for both the merchant and the consumer.

• Lack of In-Person Transactions: Many gold and precious metals transactions occur online, without the ability for a sales clerk to verify customer identities or signatures. This lack of in-person interaction increases the risk of fraudulent transactions, which makes banks hesitant to offer processing accounts to these types of businesses.

• Fluctuating Market Prices: The prices of gold, silver, and other precious metals fluctuate frequently, making it difficult for both merchants and consumers to agree on consistent transaction terms. This can complicate payment processing and increase the risk of disputes and chargebacks.

• Fraud and Chargebacks: With high-value transactions and the lack of in-person verification, fraud is a significant concern in the gold and precious metals industry. Chargebacks are also common, especially in online transactions, making it difficult for merchants to maintain stable relationships with payment processors.

Why Choose MBankcard for Your Precious Metals Business?

At MBankcard, we understand the unique challenges you face in the precious metals industry. Our expertise allows us to provide merchant account solutions that fit your specific business needs. Here's why precious metals dealers trust us:

• Fast Approvals: Get quick access to a merchant account, even if your business has been turned down by other providers.
• Competitive Rates: We offer some of the most competitive rates in the industry for high-risk merchants, helping you minimize transaction costs.
• Customizable Solutions: Whether you're a small dealer or a large-scale distributor, we offer payment processing solutions tailored to your business model.
• Chargeback Management Tools: Our advanced tools help you manage and prevent chargebacks, ensuring smoother operations and less risk.
• 24/7 Customer Support: Our dedicated customer service team is available around the clock to assist you with any issues that arise.

Some of the Businesses in the Industry We Work With Include:

• Coin Dealers
• Bullion Dealers
• Jewelry Retailers
• Refining Companies
• Metal Investment Firms
• Precious Metals Trading Firms
• Goldsmiths and Silversmiths
• Pawn Shops
• Mining Companies
• Precious Metal Refiners
• Numismatic Dealers
• Precious Metals Investment Advisors
• Minting Companies
• Metal Buying & Selling

Get Started with MBankcard Today!

If you're looking for a reliable, high-risk merchant account for your gold and precious metals business, MBankcard is here to help. Our tailored solutions, competitive rates, and cutting-edge fraud protection tools provide everything you need to thrive in the precious metals industry.

Don’t let the complexities of high-risk payment processing hold your business back. Apply today to start processing payments securely and efficiently with MBankcard. Whether you’re buying, selling, or trading silver coins, gold bars, or other precious metals, we’ve got you covered.

Get Started Now – Apply for Your Merchant Account Today!

Let MBankcard handle the complexities of payment processing while you focus on growing your precious metals business. Contact us today to learn more or to get started with your merchant account application!