Are You Wondering About Best High-Risk Merchant Services?
Are you a merchant wondering about best high-risk merchant services? Then you might belong to one of the high-risk industries such as CBD oil or online gambling or online dating or hospitality services. Although high-risk industries are risk-oriented, they are one of the booming industries. As per the report from Statista, online gambling is anticipated to be valued at more than 94 billion U.S. dollars in 2024. CBD market is also expected to reach USD 22,07,162.54 million by 2026. Despite having potential growth, it’s pretty challenging to get one of the Best High-Risk Merchant Services. Banks or payment processors offering merchant services often reject high-risk applications. It is because chargeback affects not only the merchant but also the providers who offer high-risk merchant services.
Challenging doesn’t mean that it’s hard to find a processor. It means to find a reliable processor whom a merchant can trust. There may be processors who misguide you and ask you for a very higher charge and rates. Even then they afterwards didn’t support you with any disputes. We at Quadrapay in this article helps merchants to find reliable and one of the best high-risk merchant services. Stay connected.
Why Businesses Requires High-Risk Merchant Services.
Many factors conclude that a merchant requires high-risk merchant services.
- Type Of Industry: The very first criteria of a processor to categorise your business as high-risk is your industry type. Industries such as CBD, Online Gambling, Hospitality services etc are flag as high-risk industries.
- High Number Of Chargebacks: Many industries or businesses have a huge number of chargebacks. The one with a higher number of chargebacks requires a high-risk merchant service. We help merchants with a high-risk merchant account. We also have additional service for merchants to reduce chargeback with our chargeback alerts service.
Focus On Several Factors While Finding Best High-Risk Merchant Services
- Pricing: There is a misconception between the merchants that lower fees are always acceptable. But this is not always true. Sometimes the processor with lower fees has worse support.
- Reputation: Whom do you agree to for your merchant services are reputable? If not, don’t be a fool to opt merchant services from them. There are a lot of scammers in the payment industry who can eat up your hard-earned money.
- Chargeback Fees: Chargeback fees sometimes become overwhelming for merchants. A merchant has to pay the chargeback fees to the processor for every chargeback dispute raised by their customers. The higher the chargeback raised, the higher a merchant has to pay to the processor. Usually, high-risk merchants end up paying a lot of chargeback fees.
- Termination Fees: Some processors may charge merchants if they terminate the contract early. Always try to opt for a merchant service provider who doesn’t cost you for early termination. There is a common myth between merchants that they can’t switch to other providers if they contracted. To choose the right processor is the merchant’s right. Always feel free to change the processor if needed.
- Contract: Usually, high-risk merchants are contracted for a long term contract. But it is recommended to merchants to ask the processor for a month to month contract.
- Rolling Reserve: Rolling reserve is typical when searching one of the best high-risk merchant services. If a processor asks you for a rolling reserve, try to negotiate it.
- Customer Service: Customer support is the most vital for any business to run efficiently.
Why Quadrapay For High-Risk Merchant Services
Quadrapay offers several merchant services under a single roof. We understand every industry and offer them what their business needs. Let’s have a look over a bunch of services which we offer to merchants according to their demand.
- Credit card Processing
- ACH/eCheck Processing
- Virtual Terminal
- Multi-currency Processing Solution
- Business funding or Merchant Cash Advance
- The payment gateway for eCommerce platform
- Point Of Sale(POS) System
- EMV Compliant Credit card Terminal
- Mobile Payment Solution
- Fraud Prevention And Seller Protection Features
- Chargeback Alerts And Notification Service.
With featured services, we have 24×7 support. If you are a merchant looking for high-risk merchant services, contact us at [email protected].