A merchant account is needed for businesses to accept and process card payments. However, businesses that are deemed high risk are not allowed to open traditional merchant accounts. High-Risk merchant account providers specialize in the approval of higher risk business types and high risk category merchants. High risk industries require a different approach when it
When it comes to picking a payment processing provider, do not be swayed by claims that they can open your high risk merchant account instantly. A High-Risk merchant account instant approval does not exist. If you are looking to accept high-risk credit card payments, you will need to practice some patience as the amount of
All business ventures come with an amount of risk; but some businesses pose a bigger risk than others. SecureGlobalPay high-risk merchant processing specializes in the approvals of high-risk category merchant types with high chargeback ratios. Businesses that pose a higher risk than others are usually businesses associated with a high percentage rate of chargebacks and
Choosing between one of the many high-risk payment processors can be a daunting task. However, taking your time and doing some research will pay enormous dividends. When ultimately deciding on the most capable credit card processor for your high-risk payment processing needs, make sure your acquirer fully understands your high-risk category and online business model.
The term “chargeback” is best described as a process where a cardholder disagrees with a specific charge on a debit or credit card and asks for payment to be reverted back to the card. During the chargeback process, the cardholder must provide compelling evidence of fraud or that a faulty product or service was received.
Americans who use their credit cards for purchases are protected against the incorrect and unfair credit billing under the Fair Credit Billing Act (FCBA). Owning a travel merchant account store or any online travel business without the proper payment gateway and fraud settings can prove to be costly. FCBA in essence means that cardholders who
Each transaction involves a certain amount of risk. Purchasers often risk dissatisfaction or disappointment upon receiving a product or service. And merchants always risk the possibility of a customer dispute or fraud. Learn the fine art of Chargeback Protection and How to Prevent Disputes. This risk is not always dependent upon the type of business
It is an entrepreneur’s job to take risks. But every high risk business type contains the potential for multiple outcomes, success and failure being the most extreme. With risk, like truth, the final outcome is usually to be found in the middle between extremes. An entrepreneur who understands this must be prepared to deal with
Are you a Hard to Place Merchant? Who could have guessed that when you furnish your home you are most likely dealing with a business in a higher risk industry? Yes indeed – Interior Decorating and Furniture Sales Merchants are are both considered Higher Risk Merchants by payment processors. Find out if your business type
The Address Verification System (AVS) is a system used by financial institutions, sponsoring banks and payment processor’s to help prevent fraudulent credit and debit card purchases. When Card Not Present Transactions are processed through the payment gateway, the issuing bank will request the billing address of the card holder. This information is typically stored on