We have been talking about various points of view of the high-risk merchant account business for years and have probably touched on most, if not all of them, of the most deciding problems. Here are some more tips on high risk merchant account processing.
High-risk merchant accounts are a group of financial services that enable firms to receive card payments from clients. 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 limited options in processors, plus higher fees and strong binding contracts. Being named as high-risk looks bad. But in some cases, it can be your best option.
It’s practically not possible for eCommerce merchants to operate without accepting credit or debit cards. Before you can accept “plastic,” you have to use a payment processor who acts as a liaison between you, banks, and credit card networks.
Many financial processors do business exclusively with low-risk businesses, who they consider as a low risk investment. That means businesses considered high-risk will have a limited selection of potential processors 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 : Focusing primarily on high-risk e-commerce businesses, eMerchantBroker claims they approve 99% of all account applications. The company has a positive reputation for transparent customer service and reliable support.
Payline Data is one of the best overall credit card processors on the market for retail businesses because of their competitive pricing that can scale for small and large businesses. They provide resources select high risk businesses as well. Payline has a shorter list of busineses it is willing to work with than most other processors on our list. For Payline, they are willing to work with companies that deal with: Adult Products, Adult Video, E-Cigarettes, Firearms, Gadget Repair, House Rental companies, Information Marketing (Real Estate Based and Tech Support/PC Support, Nutraceuticals, Tour companies, Travel, Used Cell Phones and Other Technology, and Vaporizers.
We worked with 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 vast experience in the business, fast customer support and low fees.
Do you have a business related to Debt consolidation industries ? HRMA-LLC can help you. Read extra details on Best high risk merchant account.
