Master The Art Of Gaining Profits With High-Risk Account

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High Risk Account Quadrapay

What Is A High-Risk Account And Why Do You Need One?

If a business wants to be successful in the market, then a business merchant needs to start accepting digital payment services like debit cards, credit cards, e-wallets. Because nowadays, a lot of competition is going on and if you can’t accept credit cards for your business orders, then you might lose most of your valuable customers. But most of the small business owners might never be heard about a high-risk account until their type of business falls into a high-risk category. This might be an indication for a high chargeback to your business activity—a high-risk business merchant faces limited choice for processing solutions because most banks and financial institutions don’t provide processing solutions to high-risk business merchants. As banks consider them too risky to operate, and thus merchants need to pay a higher credit card processing fees to sell their products and services. Don’t worry! Quadrapay has a solution for your all high-risk processing solutions.

Why Does A Business Come Under A High-Risk Business Category? Can It Be Solved With A High-Risk Account?

Banks generally label a type of business as a high-risk business under the following reasons:

  • If you are operating a business for an industry like online gambling, tourism services, online dating services, escorts, marijuana or CBD trading, then your business activity tends to have a history of higher chargebacks.
  • You are not maintaining your credit score.
  • Your business may have a long chargeback period; for example, you conduct business to sell memberships annually. Thus your customers have several months to dispute a chargeback. This will lead to a very high chargeback issue if they initiate a dispute.
  • If you trade or work with the adult industry or such business that is illegal in some foreign countries like tobacco, e-cigarettes, adult entertainment services, then your business account may have reputational risks.
  • You might be trading very expensive products and services like a precious jewellery item or customized cars and bikes which may cost over several million dollars.
  • You may have an issue of very bad credit, and thus every financial institution and banks are rejecting you to provide services for sales volumes of your business.
  • Maybe you are trying to operate a business which falls under their list of prohibited business category like:
  1. Cannabis products
  2. Bail bonds
  3. Debt Services
  4. Stored Value or Virtual Currency
  5. Horoscopes
  6. Firearm dealers
  7. Multi-level marketing
  8. Online Auctions
  9. Investment Services
  10. Online dating websites
  11. Network Jamming and interference devices
  12. Fortune telling
  13. Adult products
  14. Telemarketing
  15. Travel Services
  16. Drugs
  17. Virtual world credits
  18. Internet Service Providers
  19. Pay to remove websites
  20. Timeshare Advertising business

If you do any of such businesses, then banks will never provide you merchant account services. So its best to go for a high-risk account which will provide you with several benefits like high encryption security and fast credit card processing solutions while you trade your business products and services.

What Are The Charges That Are Associated With A High-Risk Account For A Business?

Some of the charges that are associated with a high-risk account are as follows:

  • High-Risk Account Setup Fees: These are the charges that are needed to open a high-risk account with a reputed and reliable merchant account provider like Quadrapay.
  • Capture Charges: These are the charges that are required in order to pay if you request for a physical terminal to process credit card payments.
  • Termination Charges: These charges are needed to pay if you are under a contract with a payment processor. If you didn’t sign a contract, then no such termination charges will be taken from you.
  • Chargeback Fees: If a customer issues a dispute and chargebacks are applied to your transaction. Then you have to pay for these high chargebacks received on purchases. Quadrapay provides you with the benefit of chargeback alerts facility so that you can easily monitor and manage your business activity.
  • PCI Compliance Charges: You may be charged for compliance charges if you try to violate the PCI compliance regulations and guidelines of the high-risk gateway.
  • Monthly Fees: Some costs need to be paid regularly to keep up your high-risk account active. These charges vary upon payment processors.
  • Transaction Processing Charges: These are charges that need to be paid per transaction for their processing. Some high-risk account providers charge a flat fee over the top of interchange rate, which goes towards the credit card provider. Quadrapay charges low credit card processing for small business merchants. So that you can achieve more profits even from your high-risk businesses.

If you still have any concerns, you can easily contact us at [email protected], and our processing expert will assist and solve your queries.

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