Payment Processing for Agricultural Co-operatives MCC 0763
Farmers across the world form agricultural cooperatives for mutual growth. Agricultural cooperative is primarily a legal entity backed by a group of farmers. Farmer’s pool in their resources to create cooperative and then cooperative becomes the voice of these farmers. Cooperative helps farmers to quickly sell their products or harvest to the right set of customers.
Agricultural Cooperative can also utilize merchant services. They can quickly request for a point of sales device or point of sales terminal to accept credit and debit card transactions.
Agricultural Cooperative may be considered high risk because the transaction volume per ticket can be very high. This is primarily because the cooperative is the front end for multiple farmers and the amount of transaction can be subsequently very high.
CHARGEBACK ALERTS FOR AGRICULTURAL COOPERATIVES MERCHANT ACCOUNTS
Since the ticket size is very high for any agricultural co-operative merchants must try to evaluate various chargeback alert solutions. These alerts can help merchants in reducing their return and chargeback ratio.If your local bank has said no to your for a merchant account then we suggest you to approach to open high risk merchant account. These providers usually charge a slightly higher processing fees.
Agricultural Cooperative can also utilize an alternative mode of payment processing that’s called ACH and eCheck. With verified checks, agricultural Cooperative can efficiently collect money from the buyer’s account, and the funds are deposited into the account of the agricultural Cooperative. To get more information about agricultural Cooperative merchant account feel free to get in touch with us. We will be happy to let you know the best available options for your cooperative which can eventually help all the farmers associated.
Farmers from the United States can also try to utilize prepaid debit cards. These prepaid debit cards will help farmers to limit the overspending. They will only be spending that much of money which is already loaded on the card. This prepaid debit card can be used across the United States and also in other countries. Farmers can load their prepaid debit cards and then they can do online shopping as well. This card can be used at a point of sales terminal or ATMs across the world.