High Risk Merchant Account Specialists That Wins Customers
We are high risk merchant account specialists as we work with multiple payment processing companies across the world and these companies offer merchant services to businesses in various industries that are considered as high risk-oriented. We have good connections with many banking and other financial institutes across America, Europe, and many more countries. We also offer high-risk echeck solutions, high-risk cryptocurrency solutions, high-risk ACH solutions, which usually other high risk merchant account specialists don’t provide. Our all processing partners strictly follow all the recommended guidelines that are mandatory for the processors that operate the businesses.
While some of the business categories such as firearms, real states and adult entertainment content are generally considered under the category of high-risk business practices. Quadrapay gives your straightforward guidelines according to the business industry you are trading in the terms of high risk. All the classification of low risk or high-risk merchant accounts are mentioned on our website or can be clarified by contacting us directly, this also saves you a lot of effort and time with the help of a smooth application process.
Criteria That States A Business As A High Risk Merchant Account At Quadrapay
A business is considered as a high-risk merchant account when it qualify some of the criteria and standards that states that your business as high risk as following:
- Foreign markets serving in the Country: If you initially trade to other country clients, but your firm is situated across overseas, and the potential for scam enhances a strong factor here, you may be signalled as a high risk merchant account specialist.
- High chargeback ratios: If your history of trading business shows some massive rate of scam or any high rate of chargebacks, then you are clearly considered under a high-risk merchant. This perception is ordinarily based on the response pattern of your clients, not subjectively.
- Poor credit rating: If you have a low credit rating, you’re further possible to be grouped in the high-risk level by payment processors, While most guidelines for defining high-risk status concentrate on the business owner.
- High average tag sales: If your profession regularly accepts payments that are especially purchases of high cost via credit card payments such as furniture markets who conduct a lot of b2b merchant account service transactions, you can be considered as high risk.
- Questionable practice for marketing and sales: Most of the payment processors will mark you as a high-risk merchant if your transactions are of that type that frequently goes thought of scams.
Here Are The Some Most Common Types Of High Risk Merchant Account Businesses:
- Airlines or aeroplane charters
- All Adult content websites
- Online businesses like e-commerce and other online services
- Attorney services
- Check cashing services
- Cigarettes, e-cigarettes, or vape shops
- Casinos, gambling or gaming
- Credit protection, counselling, or debt repair services
- High average ticket sales
- International shipping, cargo, or import/export
- Offshore Merchants operating across overseas
- Lotteries or sweepstakes
- Merchants with poor credit
- Multi-currency sales
- Modelling or talent agencies
- Offshore corporation establishment services
- Real estate
- SEO services
- Social networking sites
- Third-party processing, factoring merchants (i.e., payment gateway)
- Travel clubs, services, or agencies
- VoIP services
- Vitamins and other fitness supplements, for example, pharmacy products, pills, diet pills, etc.
- Any firearms trading, including knives, guns, or ammo. Also includes the parts of firearms, for example, magazines, triggers, etc.
Charges That Are Applicable On High-Risk Businesses
In comparison to the low-risk businesses, operational charges for a high risk merchant account specialists are usually cost higher fees. You’ll pay more further in both transaction processing charges and account charges, and you’ll get stuck in more extended arrangements as well. That’s why it usually costs much more.
While the payment processing sector is regularly pushing more to lessen periodically and yearly account fees, As a high-risk merchant, you can’t be so much favorable.
An added charge that you’ll have to face as a high-risk merchant is a rolling reserve. This condition is sometimes also inflicted on low-risk businesses that are just started. They are substantially regularly imposed for high-risk companies. The rolling reserves reduce over time and ultimately go off entirely if your business is flourishing.
Quadrapay is the best merchant services provider that’s suitable for your business needs, as we offer high-quality assistance and reasonable pricing in the high-risk sector and a smooth application process for even high-risk categories. We offer the most reliable customer support and service.
Not achieving so can lose you considerably more than the higher losses of a high-risk merchant account in the long term.
If you have any further inquiries related to the high-risk category, then you can mail us at [email protected].