Skip to content
IBS Payment Solutions

IBS Payment Solutions

  • Home
  • Blog
  • Contact Us
  • Merchant Account
  • High Risk Merchant Account
  • Credit Card Processing
  • High Risk Payment Gateway
  • Virtual Terminal for mail orders
  • ACH Payment Processing
  • Cryptocurrency Merchant Account
  • Forex Merchant Account
  • Casino Merchant Account
  • Dating Merchant Account

Recent Posts

  • How to Open a Gaming Merchant Account
  • How do I apply for an Online Poker Merchant Account?
  • Steps in Applying for Merchant Accounts Online
  • Knowing How you Can Save Much On Credit Card Processing Fees
  • Accepting Online Payments: Security Tips For Merchants

Categories

  • ACH and Check Processing Services
  • Adult Merchant Account
  • Bitcoin Merchant Account
  • Business services
  • CBD Merchant Account
  • Credit Card Processing
  • Credit Repair Merchant Account
  • Cryptocurrency Merchant Account
  • Dating Merchant Account
  • E-Commerce Merchant Account
  • Forex Merchant Account
  • Fund Transfer
  • Gaming Merchant Account
  • High Risk Merchant Account
  • High Risk Payment Gateway
  • International Merchant Account
  • International Payment Gateway
  • Merchant Account
  • MMJ Merchant Account
  • MOTO Merchant Account
  • offshore banking
  • Offshore Merchant Account
  • Online Casino Merchant Account
  • Secure Payment Gateway
  • Tobacco Merchant Account

Recent Comments

  • admin on How To Open And Operate Offshore Bank Account
  • MAREK KOZLOWSKI on How To Open And Operate Offshore Bank Account
  • admin on Third Party Merchant Account Services
  • admin on Accept payments with Online Gambling Merchant Accounts
  • admin on How to obtain Adult Merchant Account Solutions?

Archives

  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • June 2017
  • September 2016
  • August 2016
  • May 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015

Meta

  • Log in
  • Entries RSS
  • Comments RSS
  • WordPress.org

Tag: High Risk Merchants

High Risk Merchant Accounts for Your High Risk Needs

High Risk Merchant Accounts for Your High Risk Needs

If you are a new business owner, then it is majorly possible that you are finding it confusing to find the perfect credit card processing company. The possibilities of the confusion increase if you have never come across the term ‘Merchant Account’ earlier in your life. You may come across a number of Merchant Account service providers who offer same type of services, but that is not the reality, in reality each service provider is unique in its own kind. Some specialize in High risk business while some specialize in low risk.

Do not worry about the confusions as the following whole blog is written to help you seek answers for your queries related to a High Risk Merchant Account for your high risk business.

Apply for a Instant Approval High Risk Merchant Account

What are the businesses included under High Risk category?

Businesses like Fantasy Sports, Debt Collections, Firearms, Memberships and subscriptions, Online Dating, Marketing, etc are some of the business included in the High Risk Business category.

What makes my Business a high risk?

There are lot of points taken into consideration for the classification of a business. A business is considered high risk because of following points:

Reputational Risks, High Ticket Size Chargeback’s, Bad Credit score, Recurring Bill Designs, Industry rules and regulations, etc.

What are the benefits of High Risk Merchant Account for my High Risk Business?

Having a High Risk Merchant Account benefits in a multiple ways for a high risk business. Some of the common benefits of High Risk Merchant Account for a High Risk Business are:

1. Low rate of account being frozen then in the aggregate service providers.

2. Long Term Processing Safety.

3. High possibility of Excessive Chargeback.

4. You can continue earning more through various methods of online transactions.

5. The risk to theft and fraud is reduced with a proportional rise in security.

6. Expansion of business won’t be a problem as the earning opportunities become limitless.

Our final suggestion to you is that, please do a proper research for a reputed Merchant Account Service provider and don’t just stick to the first one that comes in your way.

Posted on October 23, 2019November 13, 2019Categories High Risk Merchant AccountTags high risk merchant account, High Risk MerchantsLeave a comment on High Risk Merchant Accounts for Your High Risk Needs
High-Risk Merchant Account – How to Avoid Account Termination?

High-Risk Merchant Account – How to Avoid Account Termination?

What is merchant account?

A business account in which the financial institution allows the account holder to accept payment through online money transactions using credit/debit card is called a merchant account.

What is high-risk merchant account?

The merchant account with a high risk like frauds in transactions is considered as a High Risk Merchant Account. When such risks the involved the merchant bank charges high premium and also charge extra fees for their services and card networks charge to try and minimize the risk involved.

Apply for a High Risk Merchant Account

When are you high-risk merchant?

Following are the few possibilities when your account is considered a High-Risk merchant account:

1. If you start a brand new business, there is no previous online transaction processing history.
2. The reputation of the business, if the business is anytime previously known for dissatisfaction of costumers, transaction frauds, etc.
3. Low Credit Score, you are considered a high risk merchant if your credit score is low as there are possibilities that you find it hard to repay your negative balance.
4. Service Provision, if in case there frequently is a lengthy time span for your business to provide proper service or deliver a product to the costumer, your business may be categorized as high-risk.
5. Transactions over phone, if your business uses a virtual medium for transactions this causes the costumer not being aware of details.
Along with all these there are a few more criteria’s of getting a status of high-risk merchant account, like- Chargeback History, Frequent refunds, Automated Billing, etc.

Which type of businesses are included in High-Risk Status?

Following is the list of High-Risk Merchant Consideration-
1. Adult Entertainment
2. High Volume Transactions
3. Pharmaceuticals
4. Travel and Lodging
5. Gaming
6. Marketing through network
7. Firearms and so on

How to avoid?
There are chances depending on the reputation on your account, the account may get freezes for a short span or permanently in which you cannot have any transactions in this account.

The best way to avoid all these problems is to be completely upfront and honest in the Merchant Account Application about the services and products you will provide the customers through your business.

Posted on July 11, 2019July 16, 2019Categories High Risk Merchant AccountTags business, high risk, High Risk Business, high risk merchant account, High Risk Merchants, merchant account, small businessLeave a comment on High-Risk Merchant Account – How to Avoid Account Termination?
Why are we high risk merchants?

Why are we high risk merchants?

Operating a business in a “high risk” industry creates a number of problems when it comes to payment processing. Visa and MasterCard categorize certain organizations as high risk depending on the risk they would impose on a card processor or bank. Other reasons why a processor might consider a company high risk would consist of their previous processing history. Normal low risk businesses that have not been operated properly are able to be labeled as high risk.

Numerous high risk industries are considered higher risk than others. These industries will need to obtain an offshore account.  Other industries that could be considered medium high risk might be able to secure a high risk domestic merchant account instead of going offshore.  There are a couple different reasons why this might take place including; large per transaction size, large monthly volume, selling methods of the business or operating in an industry prone to fraud or chargebacks.

High per ticket merchants become considered high risk because after a chargeback occurs the amount charged back for a single transaction might be ten times what the average transaction amount is for a small to medium ticket transaction. The merchant must have ten times more money in reserves to be ready for these potential situations. Since there is no guarantee the merchant will have these funds available they are categorized as high risk.

Large volume merchants can be considered either high risk or low risk depending on the products or services they are selling. The majority of high volume merchants operating online are considered high risk mainly because these businesses have third party affiliates selling their products/services for them. Companies with affiliates are usually considered high risk.

How a business sells their services is a huge determining factor on what type of account that merchant will be eligible for. Outbound telemarketing merchants are examples of merchants that are considered high risk because of their selling methods. These businesses use hard sell practices or scripts that promise unrealistic results from their products or services.

Industries that are prone to chargebacks are also grouped in the high risk category. These industries would include adult, debt consolidation and loan modification. Problems that arise from these companies are the fact that they are prone to high chargebacks. Some because of fraud and stolen credit cards and others because of low customer satisfaction.

Businesses with a poor previous processing record will also be deemed high risk by credit card processors and banks. A high number of customer complaints and disputes or chargebacks will cause a merchant’s processing history to be affected negatively. A weak previous history shows a higher risk to processors. There is a higher chance of the merchant defaulting and not being able to cover chargebacks and refunds.

High Risk Merchants is able to place most high risk merchants in almost every industry. Contact one of our helpful customer representatives to assist you with your application for a High Risk Merchant Account or ach processing account.

Posted on September 11, 2018June 12, 2019Categories High Risk Merchant AccountTags ach processing account, high risk merchant account, High Risk Merchants, high risksLeave a comment on Why are we high risk merchants?

Posts navigation

Page 1 Page 2 Next page
Proudly powered by WordPress