You Need To Know About High Risk Merchant Services Provider In USA

About High Risk Merchant Account Services

High Risk Merchant Services Provider in 2015, and 2016. Merchant Stronghold specializes in high risk and offshore merchant accounts.

Our all-in-one merchant accounts include everything that a high risk or offshore merchant’s needs to process successfully. Processing Includes debit and credit card processing, check processing (ACH), payment gateways, and charge-back management services. We help businesses to accept their payments from anywhere, as you are getting POS Machine services, Virtual Terminal, Online Settings to integrate that in your website so that customers can pay on there on. Our services are available via an easy online application. So click on the link and get yourself started NOW

High-Risk Specialists

We’ll get your high risk or offshore business processing right now with Merchant Stronghold’s fast processing system and keep your processing better than anyone else in the market. Here’s how Merchant Stronghold can tangibly help your business:

• We Get You Approved: Our 12 processor relationships ensure 98.7% of accounts are approved and get you start with your business as soon as possible.
• We Get You Setup, Fast: Same day approvals & included gateway integration means you’re ready to take payments faster, without waiting for that big queue.
• We Minimize Your Chargebacks: Our in-house chargeback management tools can lower chargebacks by 72%, so that you can concentrate only on increasing your business outcome, rather than having tension about your chargebacks.

High-Risk Credit Card Processing

High Risk Credit Card Processing is the leading provider of high risk credit card processing for high risk businesses. We help various high risk industries process credit cards, utilize high risk merchant accounts, and accept payments so you can put more money in your pocket without the hassle and additional fees. As high risk payment gateway professionals, our goal is to develop a personal relationship with our clients and to encourage prosperity and longevity for your business. Our priority is to earn your trust as we advise you in high risk credit card processing.

Applying is Fast and Easy For Merchant Account

Our Onlne application is simple, easy, and can be completed in under five minutes. Once we receive your application, we will email you to confirm the information.

13 Tips To Guard Your High Risk Merchant Business Against Chargeback

For many small businesses that accept credit cards, chargeback is way costlier but there are ways where you can protect your business against those unfair chargebacks. Before going further, let us understand what is a ‘Chargeback’?

Chargeback 

A chargeback happens when a customer after purchasing a product, contact to his/her card issuer to dispute the charges. In simple words, when a customer purchases a product and due to some reason disputes a charge with his/her bank, the money is returned to that customer as well as he/she gets to keep the product. But the bank charges the business owner, from whom the product was purchased. This payment, which the business owner gets to pay to the bank, is called the chargeback.

Here are few tips that can help you prevent chargeback and minimize the time and money spent while dealing with it. Being business owner you should understand that disputes could be considered valid due to many reasons. Customer may dispute charges if:

• A hacker using the customer’s identity made the purchase illegally.
• The wrong item was received.
• The product was adulterated
• The customer does not recognize the charge on his credit card statement.
• The customer was billed incorrectly.
• Let us now discuss few tips which can help you in preventing a chargeback.

Declined authorization: If the authorization request is declined once, do not go ahead with that particular transaction instead ask customers to opt for different payment method. Also, keep in mind not to request multiple authorizations for a particular transaction.

Authorization code: There will be cases when word “Call” is displayed on your terminal while authorization is being checked. At this point call the credit card company right away. The representative will ask you a few questions and may speak to its customer as well. After that he/she may or may not provide you with an authorization code. If the authorization code is provided, record it else request the customer to try a different card.

The system not working: There can be cases where the system is not functioning properly or the card is worn out. At this point, you should key-enter the credit card number, and also remember to make an impression of the card for keeping the record. This is important because a customer’s signature is not enough to protect you from a chargeback.

Gift card: Gift cards are unembossed cards and there is no way to take a manual imprint of it. In case customer wishes to pay by gift card it is advisable to ask the customer for a different payment method.

Signature: Regardless of the type of the card used for the payment processing, the signature of the cardholder on the receipt is mandatory. This can be used as a proof that the customer made the purchase himself.

Swipe only once: You should swipe the card only once to avoid duplicate transactions, which can lead to a major chargeback. If such situation arises, write “VOID” in bold letters on the customer’s receipt and tear it in front of the cardholder.

Record keeping: To avoid duplicate transaction chargeback, make sure that you deposit only one copy of sales receipt. Be cautious about recording sales; do not record the same transaction more than once.

Clear communication: Clearer is the refund and return policy, better will be the communication and it will protect you from chargeback as well. As far as refund policy is concerned, it is better to print it on the receipt directly. If not possible, stamp it near customer’s signature.
Receipt deposit: To avoid chargeback, deposit receipts as soon as possible. Make it a point that all the receipts are deposited within a day or two.

Cancellation request: It is a good practice to honor all customer requests to cancel recurring billing and provide them with a written statement for the same with a date on it. Delay on it can put you at risk for a chargeback.

Unexpected Delay: If, due to any reason, there is a gap between the time payment was made and the time when the product was delivered, it is advisable to inform the customer about the same in written and if possible, also let the customer know the new expected date.

Out of stock: If in case, the product is out of stock or unavailable due to any reason, it is important to intimate the customer about the same and asks them whether they would like to cancel the order or would like to purchase another item instead. Keep in mind that without customer’s permission do not send any substitute product. This will help in reducing chargeback risk.

Shipment: Never deposit the money you have charged from a customer before product being shipped to the customer. Streamline shipping process in order to get the product out to the customer as quickly as possible. There are chances of a customer getting upset about paying before receiving the product.

Factors & Guidelines to Merchant Service Underwriting and Why It’s Important

It is important to open a high-risk merchant account to carry out financial transactions especially if your business requires an online payment gateway through which you can accept payment by multiple payment methods. To acquire a high-risk merchant account, you have to first find a credit card processor, which meets your needs and provides you services at a reasonable price. When you apply for this account, you cannot get started by just filling an application form. The application (in turn your business) has to go through a wide analysis process. This process is called improper merchant underwriting.

What is Merchant underwriting?

When a merchant chooses a high-risk payment processor to process its payments, the two parties will sign an agreement, with this agreement being referred to as a financial contract. The underwriting process tends to be very stringent and is used to help determine how credible the merchant is in relation to its own credit card worthiness and business reliability; this process starts when a merchant puts in an application to obtain services from a payment processor.

All About Merchant Account Underwriting

Gathering this information is part of the high-risk merchant account underwriting process that each merchant account provider must follow for each new merchant account. A merchant account underwriter will look at how long you have been in business as well as your financial history. You will need to furnish information about your products and/or services as well as how you generally conduct business.

Merchant Underwriting Process

The merchant account is basically a line of credit. In case of chargebacks, the amount is deducted from the merchant's account, but if there are not enough funds in the bank to pay for chargeback then the provider pays that amount right away to the customer. So the essential part of underwriting is to evaluate the risk level of merchant’s business. Following are the things that provider review:

After Effects of Poor Merchant Underwriting

Your high-risk business may suffer from one or the other reason even without in-depth analysis and these are:

Incorrect Limit: You should set limits for your business as per requirement. It should not be too high or too low, as both the cases will end up in putting your business in a problem. Limits lower than required will hinder the regular processing of transactions that may constrict the flow of cash or timely payments from the customer, whereas if the limit is too high, this may lead to unexpected fraudulent charges.

Hidden Fee: An additional fee is charged if the volume exceeds the limit. However, even if you have set your limit, some providers let it exceed without notification and charge you with the penalty.

Downgrades: Once your high-risk merchant account is set, you are inclined to transaction downgrades if certain required features and security measures are not set along with the account. Although, setting up these features will cost you more, but will help you in long run and enable smooth processing of transactions.

How to Overcome the Difficulties of Payment Gateway for Collections Account

We are providing a best payment gateway solution for your difficulties. Online merchant (small business or large-scale business) to accept payment in multiple ways according to its customer’s convenience. To open such an account, which can accept payment by credit card as well as a debit card is not easy. No matter how good your business is doing, you might still end up struggling to get a merchant account opened.

You might think that why your business is categorized as high-risk even when you are following the right track. The reason is the target audience and the niche of your business. Some of the high-risk industries are (High Risk Merchant Business):

• E-commerce stores

• A website dealing with digital content and steaming

• Travel and transport companies

• Companies dealing with multi-level marketing and direct sales

• Adult and dating websites

• Loan and financial businesses

• Companies providing supplements

• Crypto-currency

• Companies selling custom-made products

• Fast-growing companies

There are some other reasons for being categorized as a high-risk merchant business can be an excessive number of chargebacks, bad credit record, selling goods and services with high value, products open to the risk of fraud or a subscription-based business. These are the factors that make it difficult for you to get a high risk merchant account and to be able to accept online payments from debit or credit card, with a merchant service provider. Without high risk merchant account, you will stand nowhere and will lose to the competitors.

Right High Risk Merchant Service Provider: If you have a good business and if your business is categorized as high risk business, That does not necessarily mean that your company has to suffer. If your high-risk merchant account business is promising but this only limitation is not letting your business grow, All you have to do is find a right high risk merchant services providers that are willing to offer you the suitable services. The companies who provide services to high risk merchants account are called high risk merchant services providers.

Setup a collection merchant account: If you are setting up a merchant account to handle high risk has become easier with time and is a straightforward procedure. It might also be free of cost if you are using a reputable company. To get the account opened, all you have to do is fill an application form and submit the required paperwork. If you are new in the industry and have a strong business model and well capitalized, you don’t have to struggle a lot to find the right high risk merchant account provider for your business.

Things that work for collection account:

• Quantity of chargebacks

• Crossing out installment or not paying them on time

Merchant Stronghold and its provide a quality payment gateway for your high risk business to reduce the expenses of processing credit card payment and in return maximizing the profit. For more information you can simply call us on this number +1 (888)-622-6875 or Email us infor@merchantstrongohld.com.

International Merchant Accounts And Merchant Services

Merchant account services worth high quality can be provided to you by Merchant Stronghold irrespective of your geographical location. Business owners from various countries are opting for our services regularly. For processing credit cards, merchants don’t need to depend on a single merchant account; our international banking partners are always there to help our customers.

Our huge network of international merchant accounts include –

Merchant services: When it comes to serving global businesses, a wide range of merchant accounts are offered by Merchant stronghold. Your business requirements are bound to find the right solutions from online merchant account, MOTO, and retail merchant account services. Besides providing offshore and international merchant accounts to e-commerce merchants, we also serve them with merchant accounts that fall under high-risk and low-risk categories. Merchant stronghold even serves specific industries with merchant account solutions that involve webcams, adult videos, online dating as well as payday loans. You must gather more knowledge on merchant account services provided by Merchant Stronghold before you get registered with us –

Payment Gateway Services: Our payment gateway is PCI compliant and is shown under our online merchant services. For managing the online transactions of our clients more effectively, a user-friendly environment is provided by our payment gateway. A few expert developers in our team of professionals are entrusted with the task of maintaining this gateway. Our virtual terminal can be accessed by you without any extra cost once you qualify as a Moto merchant. It will enable you to accept credit cards through mail orders or via phone calls. Know more about the payment gateway provided by Merchant stronghold.

Credit Card Processing Services: Merchant stronghold offers a variety of credit card processing services alongside multiple merchant accounts. China UnionPay, American Express, MasterCard, Diners Club, Visa Electron, Discover, Visa, and JCB are a few of the major banks that can provide you with credit cards. Payments received in a little over 160 currencies can be processed by merchants. Euros, GBP, and USD are some of the most used currencies. You must acquire more information on the credit card processing services.

Shopping Cart Services: When it comes to making your e-commerce website more user-friendly, you’ll need to identify the right shopping cart. Our Merchant Stronghold payment gateway works well with 40 shopping carts that are quite popular. PrestaShop, Magento, Zen Cart, X-Cart and eCommerce are a few of the shopping carts that have gained much popularity in the recent times. The payment modules included by Merchant Stronghold shopping cart services for each of these modules are free. Acquire more knowledge on our shopping modules and carts.