1 Customer Reviews
Review from James
1 star12/06/2021
I signed up as an ISO of Maverick Payments and submitted a very profitable account to them for processing. Maverick declined the deal and then reached out the merchant directly the next day and started processing for them. Do not sign up as an ISO of Maverick unless you want your accounts stolen.
Maverick Payments Response
12/08/2021
Hello James, You submitted a merchant who was on MATCH. MATCH'd merchants are prohibited so it was auto declined by our underwriting team. Oftentimes with higher risk merchants they will shop around to get a quicker approval and something we see very frequently (probably on a daily basis). The same merchant applied with another partner. Since MATCH'd merchants require an exception, this generally requires us to have elevated collateral for risk mitigation as our banks perform a deeper enhanced due diligence. Our other partner has a shared risk program with us in addition to a very low risk balanced portfolio. When we present exceptions to our bank, these are the types of additional factors that help build a comfort level. We did not "steal" the merchant as they simply shopped around and applied to other providers, which we also saw on the KYC inquiries. We apologize for the frustration but unfortunately high risk merchants like this one are complex and require a overall business case in order for it to make sense.
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