Check Processing Services for High Risk Merchants

Getting paid is the ultimate priority for a business. In order for it to happen consistently with ease, keeping customers satisfied is important. Just like how customer preferences are taken into consideration in terms of the products being sold, their payment preferences should also be taken into account.

Most merchants are aware of the variety of payment methods and tools available in the market today. While online payments have rapidly gained popularity, some folks still choose to go the traditional way i.e. check payments.

Shocking? Not really! Checks are still seen as a reliable form of payment. As a merchant, it is in your best interest to determine if accepting checks is critical for your business.

Check Processing Services

With the more popular payment solutions available to customers & businesses, Merchant Check Processing Services are relatively little known.

Electronic Check Processing or E-check is a type of payment method available to merchants receiving check payments. Herein, paper checks received through customers are converted into electronic checks with the amount being transferred into the merchant’s business account. Merchants also have the option of receiving checks over phone as well as online.

Payment via checks comes with its fair share of risks for merchants; Bounced or returned checks and other fraud cases result in high chargebacks for merchants. With check processing services, check payments are managed effectively, efficiently and securely. E-Checks have made facilitating check payments simpler, faster and safer for businesses.

Consider Electronic Check Processing Services for your High Risk Business

High risk merchants always have to go through several hurdles to secure a fitting credit card processor that serves their business needs. Due to their risky business nature, approval rates for high risk merchants is low and those getting approved have to pay high processing fees. After all of this, the threat of chargeback and frauds still looms large.

Check Processing Services have proven to be the best option to save merchants from the hassles of acquiring a credit card processor.

So why should high risk merchants consider integrating check processing services with their business? Here are some benefits:

-Quick Approval

For starters, the approval process for high risk businesses is faster and the chances of getting approved are higher. As long as you are a legal business, merchant account providers should easily provide you with the desired services no matter the business type or product sold.

 -Lower Costs

Fees are a big concern for high risk merchants. Merchant account providers charge an exorbitant amount to process credit cards of high risk businesses. Whereas, monthly costs for processing e-checks is much lower comparatively.

Also, if you are a business receiving payment majorly from checks, with check processing services save yourself the trouble of taking multiple trips to a bank.

-Same Day Funding

Unlike paper checks, merchants do not have to wait for days to get your e-check passed. Authorization happens in real-time and funds are deposited within 24 hours once the checks are processed.

-No Chargebacks

High risk merchants dread the word ‘Chargebacks’. It’s a major risk associated with credit card processing. Electronic check processing eliminates the risk of chargebacks by avoiding bad checks and other frauds.

-All Business Types

Check processing services is also available for all business types under the high-risk category including large-ticket items and high volume transaction businesses at a small monthly processing fee.

 

To conclude, Check Processing Services is a great alternative payment method for high risk merchants wanting to escape the tedious process of acquiring a merchant account or even simply looking to introduce a new payment option.

Get started with e-checks and expand your business!

Choosing the Best Payment Gateway For Your Merchant Check Processing Services

When a lot of people compare credit card merchant accounts, they often only look at the fees they will be charged per transaction. However, there is much more to looking the best-priced merchant check processing services than that. In fact, there are other fees and charges involved that can turn the most affordable provider into among the most expensive. If you are looking for a processing provider, here are a few of the things you’ll need to consider.

Not all credit card Merchant Account can connect directly to your shopping cart software. Therefore, you need a payment gateway to connect your merchant check processing services to your shopping cart order page. This allows it to relay information between your merchant check processing services account and your site. While they don’t come with additional services, you’ll notice payment gateways do include several features. If you’re looking for a payment gateway, here are a few things for you to consider.

Expenses Associated With Payment Gateways For The Credit Card Merchant Accounts

Every installment portal supplier charges distinctive expenses and offers diverse bundles. In this manner, ensure you analyze each of them deliberately before choosing which one to purchase. For example, some providers will charge a large setup fee while others have none. Then, you’ll likely need to pay a monthly fee and a small transaction fee in addition to any features you’ve decided to add to it.

You’ll need to be cautious here because price doesn’t always represent the quality of the service. Look for one that offers a good service for a decent price. Don’t be taken in by bargain basement prices or ‘premium’ services without researching them carefully first.

Security Features

Since installment passages transmit the customer’s touchy budgetary data to and from your charge card shipper account while lodging your own information, they are prime focuses for programmers. This makes security a flat out must and not something you need to take softly.

Therefore, go with a provider who has a good reputation and uses nothing but the best security systems and data centers to ensure your Merchant Check Processing services information and your client’s financial information remain private and secure. Also, look for Payment Card Industry (PCI) compliance as this will help ensure the security of their services.

Extra Payment Gateway Features

You should know about what your site has and does not need to forestall paying for one simple thing twice over. Subsequently, when you ask about installment passages, make certain to ask what accompanies it. This could incorporate a virtual terminal, repeating charging alternatives, misrepresentation and efforts to establish safety, combination choices, and checks.

Before you settle on your official choice, consider your needs first. On the off chance that you needn’t bother with repeating charging, for instance, and you pay additional to get it, you’re basically squandering cash. Ensure you recognize what highlights you require before settling on a choice so you can make sure to get all that you need.

When searching for a Secure Payment Gateway for your credit card merchant account, you’ll want to match each service to these points to see how each of them stacks up. Then, you’ll also want to consider reliability, company reputation, customer service, and your overall impression of the company. Simply by taking the time to choose a payment gateway provider now, you’ll be able to save yourself numerous headaches and money after it is hooked up to your merchant check processing services and Website.