The Millionaire Guide On Canadian Merchant Account To Help You Get Rich
Canada is a well known and developed economic country. This includes a lot of business merchants that are expanding their business with a small business or a large scale business. In order to grow the business and gain profits, you need to accept payments from your customers efficiently. For this, every Canadian business needs a Canadian Merchant Account to seamlessly accept payments either through an online website or a local store point of sale. But as the segment of business sectors are so vast, there are a lot of businesses that are considered as a risky activity for a company in terms of banks and most of the financial institutions. On such cases, if a high-risk Canadian merchant goes to a bank for a Canadian merchant account, then the bank will reject the application by mentioning it as a high-risk business.
But now, with Quadrapay, you will get the right processing solution for every business needs. We provide our well-crafted payment processing solution for every business, i.e. Canadian Low-risk business or a high-risk business.
What Are The High-Risk Canadian Industries?
The business sector is divided into two categories, i.e. Low risk and other is high-risk. Those businesses that are based on general day-day casual processing are counted under low-risk businesses. But there are a lot of companies that may have a complex business model, reputational issues, currency changes, returns and refunds, high chargebacks and a lot more reasons behind which requires a different payment processing solution. If a business comes under the high-risk category, then they might face a lot of trouble for a merchant account and in fact, if they get one, then there will be a high processing charges issue.
Some of the examples for a high-risk industry are as follows:
- Electronic Cigarettes
- Online Dating
- Credit Repair
- Online Pharmacy
- Travel Agencies
- Remote PC support
- Weight loss products
What Are Solutions For A High-Risk Business Merchant?
For a high-risk business merchant in Canada, a Canadian merchant account can apply for an offshore merchant account or other offshore solution. A Canadian merchant can also apply for their business registration under the European Union if a business merchant is from the European Union. By this, a Canadian merchant account holder can now apply for European processing solutions and get better rates for payment processing. The best part of this offshore solution is that it will not cost that much for a business to register under the European Union. For some of the countries, the registration procedure for business under Europe can cost them as low as somehow 100 dollars. Most of the time, the merchant has to register a European company after the approval and before starting to process credit card transactions.
This suggested solution will help you to achieve better rates in terms of Canadian processing solutions. If this offshore solution is not applicable in your case, then you can go with the Canadian merchant account where we will look for the best and most affordable payment solution for your website or business store.
What Are The Benefits Of Canadian Merchant Account With Quadrapay?
For businesses that are registered in Canada can apply for a Canadian merchant account. This allows Canadian merchant to accept payments from valuable business customers easily. The onboarding procedure is also simple and straightforward. For a Canadian merchant account, a business merchant will have to fill the merchant application form. This form will ask for some of the vital details of the business, and it’s processing like details of business registration, more information about the business owner, estimated monthly processing volume and the ticket value that you sell in the scale of lowest and the highest.
For more information on Canadian Merchant Account, you can mail us at [email protected].