
Antique shops and businesses need to be able to accept debit and credit payments in order to best serve their customers. It is crucial for both online as well as brick-and-mortar antique stores. However, getting an antique shop merchant account is not easy because this type of business is considered high risk by payment processors. So, in order to accept payments via debit or credit card, you will need a high risk merchant services provider.
How to Get Antique Shop Merchant Services
You can get an antique shop merchant account by finding a high-risk payment processor. However, finding the right provider is crucial for such business because of its high-risk nature. Following are some tips that will help you make sure that you choose a provider that best suits your business needs:
1) Do Your Research
When it comes to finding a high-risk payment processing company, you will need to take several things into consideration. First, it is recommended that you find a provider that has a track record of working with antique stores as well as other high-risk merchants. Next, check reviews on the provider and see if they are mostly positive. You should also check their prices. You want to work with a provider that doesn’t charge higher fees that you should be paying. Last but not least, read the terms and conditions of their service so you can avoid any potential problems.
2) Avoid Long Term Contracts
Some high-risk payment providers will ask that you sign up for a long-term contract. You should avoid it. This is because the nature of antique shop business is risky as there are more risks for changes that could impact your company needs in the future. That’s why it is recommended that you go with a provider that offers flexibility and short-term contracts.
3) Find Providers That Offer Key Services
There are some key services that you should look out for when searching for a high-risk payment service provider. These include credit card terminals, mobile payment solutions, payment integrations, gateways, and POS systems. While it is highly unlikely to find a provider that offers all of these services, it’s helpful if you can find one that can offer most of them.
Why Are Antique Shops Considered High Risk?
Many credit card processors do not accept antique businesses mainly because of their high-risk nature. Following are some reasons why antique shops are considered high risk:
1) Products sold at antique shops are usually high dollar items. Because of their increased value, they are generally the target of fraud where customers will buy the item and initiate a chargeback afterwards. Then they try to make a profit by reselling the item on open market.
2) Fraudsters use stolen credit cards to buy antiques and then resell, while the legitimate owner of the credit card initiates the chargeback.
3) Authenticity of antique products can be disputed. Because of this, the potential for a swindling merchant to sell counterfeit products is a chargeback risk.
4) Because of these risks, the entire antiques industry is considered high-risk and hence, most credit card processors decline to do business with antique shops.
Documents Needed for an Antique Shop Merchant Account:
Since antique shops are considered high risk, the documents required to get a merchant account for them are roughly the same as with any high-risk business. These include SSN or EIN, fully operational website, a government-issued valid ID e.g. driver’s license or passport, pre-printed voided check or a bank letter, and the most recent bank statements and processing statements. Apart from these, there are a couple of additional documents that you may need to provide in order to get an antique shop merchant account. These include: certificate of incumbency and certificate of incorporation (or similar document).
Why Choose High Risk Merchant Account LLC
If you are looking for a high-risk antique shop merchant account, then you can count on High Risk Merchant Account LLC to provide all the solutions you need. We have been providing payment processing services to high-risk merchants for many years and over the years, we have created state-of-the-art solutions for different types of businesses.
At High Risk Merchant Account LLC, we work with several gateway suppliers and processors with sponsor banking relationships that offer both national and international credit card processing solutions. With us, you can enjoy the following benefits:
A) Competitive rates
B) eCheck processing
C) Chargeback preventing advice and tools
D) Integration assistance with over 100 shipping carts
E) Accept American Express/MasterCard/Visa at your antique store
F) Compatibility with major shopping carts and gateways
G) Acceptance of multiple deposits and currencies
H) Industry leading fraud detection and prevention tools
Contact us today to get started at 1-877 493-4622
About The Author

Mark Sands, co-founder of High Risk Merchant Account LLC, an authoritative expert in the high risk merchant account space. Mark has decades of experience in the payment industry & enjoys writing on entrepreneurial related topics.
