There are certain businesses (both online based and those with physical stores) that are considered high risk industries. For example, those that are based overseas or businesses that offer products and/or services that border to illegal are highly likely to be marked as high-risk. Such categorization presents some challenges for the said businesses, particularly when it comes to finding a merchant card processing system that can handle payments from customers efficiently and accurately.
The reason why it is challenging because they are unable to secure a standard account with most acquirers. The good news is, there are still merchant account service providers out there that can be relied upon to address the need of these particular businesses – Swipebox is among them. There is what we call high risk merchants card processing that is aimed at catering to these businesses that are considered a high-risk.
What are the chances that your business might be considered a high-risk account?
When your product and/or service border on the illegal
When there is high instance of chargebacks
When there is high instance of fraud
When your business is offshore
When marketing tactics are questionable
How to choose a high risk merchants card processing service provider
If your business belongs to the high-risk accounts or has been denied by a merchant acquirer in the past, find a provider that has…
State-of-the-art machine – This is important to ensure the payment gateway you have installed for your business delivers efficient, accurate payment processing results.
High-risk account specialization – This will ensure that the one you hire understands the nature of business you have and knows what your business needs when it comes to payment processing
Competitive pricing – They say that high-risk merchant accounts can be a bit more expensive, but, thankfully, there are still quite a number that offer competitive pricing that you can take advantage of.
eCommerce support – This is imperative most especially that your business provides an online facility to process payment. An e-commerce supports can greatly help not just in the aesthetic aspects of your website, but provide a platform that is functional and friendly to users/customers.
Contact Swipebox today at (720) 277-0648 for high risk merchants card processing inquiries.