We have been discussing about various properties of the high-risk merchant account market for years and have probably touched on most, if not all, of the most important issues. Here are some more tips on high risk merchant services.
High-risk merchant accounts are a group of finance services that enable businesses to receive card payments from clients. 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 reduced options in processors, plus higher fees and harsh contracts. Being labeled as high-risk looks terrible. But in some scenarios, it can be your best option.
It’s virtually not possible for commerce merchants to operate without having enabled as payment type the credit or debit cards. Before you can take “plastic,” you have to use a payment service provider who acts as a liaison between you, banks, and credit card networks.
Lots of financial service providers do business only with with low-risk merchants, who they consider as a safer investment. That means businesses considered high-risk will have a very small selection of potential processors 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.
Here are some high risk credit card processors : Focusing primarily on high-risk e-commerce businesses, eMerchantBroker claims they approve 99% of all account applications. The company has a positive reputation for transparent customer service and reliable support.
Active under various names since 1997, High Risk Pay is specifically focused on serving high risk merchants. The company offers point-of-sale equipment, ACH processing, and chargeback prevention to all of its merchants. High Risk Pay can process payments for e-commerce, travel, e-cigarette, startup, bad credit, international, high volume, and adult merchants.
We worked with all of the high risk credit card processors, to be able to compare and our pick was HRMA-LLC. They cover all business types, have a vast experience in the field, fast customer support and low fees.
Do you have a business related to Vacation club membership sales ? HRMA-LLC can help you. See more details on High risk merchant account.