We have been writing about multiple properties of the high-risk merchant account market for many months and have almost sure touched on most, if not all of them, of the most decisive issues. Here are some more advices on high risk merchant account processing.
High-risk merchant accounts are a collection of financial services that allow companies to accept card payments from customers. Credit card processors assign merchants to one of two categories: high risk or low (normal) risk, based on a number of factors. High-risk merchants face reduced choices in processors, plus raised fees and stricter contracts. Being named as high-risk looks bad. But in some scenarios, it can be your only option.
It’s virtually impossible for online shopping merchants to operate without accepting credit or debit cards. Before you can take “plastic,” you need a payment service provider who acts as a liaison between you, banks, and credit card networks.
Many financial service providers do business exclusively with low-risk merchants, who they consider as a low risk investment. That means businesses considered high-risk will have a very small selection of potential payment services to choose from. Any processor you approach will take a careful, detailed look at your business to determine if you fall under their definition of “high risk,” based on the financial risk your company represents.
Here are some high risk credit card processors : Billing itself as a “new kind of service provider,” T1 Payments offers flexible underwriting, easy application process, flat rates, and expert support–all combined into a state-of-the-art solution with dedicated end-to-end service.
Active under various names since 1997, High Risk Pay is specifically focused on serving high risk merchants. The company offers point-of-sale equipment, ACH processing, and chargeback prevention to all of its merchants. High Risk Pay can process payments for e-commerce, travel, e-cigarette, startup, bad credit, international, high volume, and adult merchants.
We used all of the high risk credit card processors, to be able to compare and our pick was HRMA-LLC. They cover all business types, have a large experience in the field, fast customer support and low fees.
Do you have a business related to Magazine subscription sales ? HRMA-LLC can help you. See more info on High risk merchant account processing.