Why Do You Need A High-Risk Merchant Payment Processor?
Nowadays, the competition is increasing day by day in terms of business trading. In order to attract more customers to your business, you need to set up your business online. Things may get difficult for you if you operate within a high-risk businesses category. Most of the acquiring banks and financial institutions do not provide merchant services to the high-risk merchant.
That’s why in order to accept credit card processing for a small business containing high-risk products sale. You need to have a high-risk merchant account. A good high-risk merchant payment processor will provide the best-customized solution for you.
What Are The Benefits Associated With The High-Risk Merchant Payment Processor?
You can gain a lot of benefits with the help of a high-risk merchant account provided by the high-risk merchant payment processor. Some of them are as:
- Expanding Business Globally: A high-risk merchant payment processor will allow you to sell your products in other countries. While operating the business from one state you can accept payments in multiple currencies with the help of multi-currency merchant account. This will provide you with several profits and high gain in business revenue. You can easily accept card, not present transactions.
- Limitless Earning Potential: A high-risk merchant account allows you to accept recurring payments. This feature can become a long term sustainable source for the growth of your business. You can process high volume sales so that you can achieve a high boom in your business revenue model.
- Sell Risky Products; High Profits: The high-risk merchant payment processor will allow you to sell the products that are termed as riskier by banks. For Example, Travel related services, online adult entertainment services, cigar, supplements and pharmacy products.
What To Expect With The High-Risk Merchant Payment Processor?
A high-risk merchant payment processor will provide you with benefits of credit card processing and gateway solution. You can accept international payments, can perform high volume processing with the help of high-risk merchant account. With the high-risk merchant payment processor, you can expect:
- High Processing Fees: A high-risk merchant payment processor will charge you some extra charges while comparing to the low-risk merchant account. These charges are taken because of the higher risk and the services that are required to fulfil the transaction successfully. But we at Quadrapay charges you with nominal fees in comparison to the others in the industry of credit card processing services
- Rolling Reserve: There are some changes that are needed to store in the form of a reserve. This reserve acts as an insurance for the acquiring bank or provider. In the case when a chargeback is filed against the business merchant. And the merchant isn’t able to settle the chargeback. Then the funds stored in reserve will be used to cover up that chargeback amount.
- Chargeback Fees: If a chargeback is received against a business. Then the high-risk merchant payment processor will charge the fees to recover the costs. These costs include the administrative charges and the costs involved in the processing of chargebacks. If the chargeback continues, then this can cost you a lot. Don’t worry! We provide our high-risk account business merchants with a chargeback alerts facility. With the help of chargeback prevention measures, you can reduce them before they breach the threshold.
If you still have any concerns, you can contact us at [email protected].
For more information on how to apply for high risk accounts and processing solutions, you can mail us at [email protected].