Offering your customers the option to pay via credit card is crucial to get your business. Especially effective at online businesses, card payment is your best option customers have. Other agencies offer merchant processing services including credit card processing to businesses. But herein lies the catch. While everyone is willing to assist low risk businesses, businesses that are risk do not get as much support from merchant service providers to help them open a processing account.
They are offered only by specialized service providers.
Are You a high risk Merchant?
You qualify in this services if your business is categorized as a high risk business. The new business organisations that come under this category typically include those within the following areas- porn sites, those related to health and beauty such as websites selling weight loss, skin care, muscle enhancing and other similar products including nutritional and beauty supplements. Detective services, online dating sites, lotteries sites, sports consulting sites etc are some other examples of this businesses and organizations. These businesses are inherently risk for apparent reasons.
This type of merchant services furthermore required for high volume businesses, given that they are more controlled by credit card sham. Small companies with low volume sales are also considered because they do not want the necessary fraud screening tools.
The individual business/ business owner characteristics are also essential. Businesses not accredited with the a building bodies, those with poor/inconsistent credit histories, or where enterprise or the owner has been blacklisted due to any reason are considered high risk.
If you genuinely merchant, you will discover it difficult to purchase a merchant account, which is crucial to enable credit card transactions. Hence you need the assistance of merchant service providers who especially cater to the needs with their type of chain stores.
High Risk Merchant services - What Perfect Expect
These type of merchant account providers charge enormous fees for their services. Merchant service fees are way higher than those charged for regular businesses.
For setting up a regular CBD merchant account account, often the set up fees are negligible or nil. In case of these connected with merchant accounts, your high fees start right from this occassion and include very high processing fees.
However, considering that enabling payment by credit card is crucial to the success of your business, you have no choice but to make in to the stress of merchant providers. But as always, you must choose your satellite service company wisely and be certain to are not being taken for a ride.
How to Select a High Risk A merchant account Provider
Ask around and choose a provider with well established reputation in the field and who is well spoken of for the range and quality of services offered.
Choose someone who caters to your distinct needs. For instance, depending on dynamics of your business, you may require 24x7 support.