High risk merchant account business types in 2019. This is a popular topic as more countries open up to new services. High-risk merchant accounts are a collection of financial services that offers companies to accept card payments from customers. Credit card processors assign merchants to one of two categories: high risk or low (normal) risk, based on a number of factors. High-risk merchants face limited options in processors, plus higher fees and harsh contracts. Being named as high-risk looks bad. But in some cases, it can be your only option. We have been discussing about diverse points of view of the high-risk merchant account market for many months and have most likely touched on most, if not all of them, of the most deciding issues. Here are some more guides on high risk merchant accounts.
High risk credit card processor : Cayan has a reputation for helping businesses develop more meaningful customer connections through cutting-edge payment solutions. They’re also known for reasonable pricing, and not requiring an early termination fee (ETF).
Many financial processors do business exclusively with low-risk businesses, who they consider as a safer investment. That means businesses considered high-risk will have a limited selection of potential payment services to choose from. Any processor you approach will take a careful, detailed look at your business to determine if you fall under their definition of “high risk,” based on the financial risk your company represents. It’s practically impossible for commerce merchants to do their business without receiving payments from credit or debit cards. Before you can accept “plastic,” you have to use a payment service provider who acts as a liaison between you, banks, and credit card networks. Read more info on Nutraceutical merchant account high risk payment.
If you are an online-only business concerned about chargebacks and fraudulent purchases, Authorize.net provides some interesting solutions. The company offers something called an Advanced Fraud Detection Suite, free of charge to their customers. The service aims to prevent suspicious and fraudulent transactions from going through. For example, you can restrict transaction activity from specific. For example, if your customers are primarily from the United States, one transaction from another country would immediately be flagged and rejected.
We did transactions on all of the high risk credit card processors, to be able to compare and a very good pick is iPayTotal. They cover all business types, have a huge experience in the business, fast customer support and low fees.
iPayTotal can help you in understanding and create your high-risk merchant account and guide you through the underwriting procedure followed by the bank while onboarding an application. Regardless of whether you require a start-up merchant solution, a subscription account, a pharmacy merchant account, a travel merchant account or set up an offshore merchant account, iPayTotal can help you set up with lowest rates and no hassles for your high-risk businesses. Source: https://ipaytotal.com/ipaytotal-high-risk-merchant-account/.