Being a business owner comes with lots of responsibilities, but none of them compare to securing one's assets. A high risk merchant is basically a business owner that is at a high risk of fraud. Whether you own an adult entertainment business or a travel agency, you are most likely labeled a high risk service provider, which means that you may be expected to pay more in processing and cost per swipe fees.
Having a high risk of consumer chargebacks and unsafe credit card payments, you can potentially profit greatly from a high risk merchant account. Just by being allowed to freely accept credit card transactions, without fear of fraud, you will be able to grow revenue. If you cannot offer your customers the option of paying via a credit card, you are putting yourself at risk of failure. If you take precautions to avoid chargebacks and keep a good relationship with your credit card processor, you may be able to increase your month processing.
Many companies that work alongside high risk merchants will take advantage of them, by charging higher fees with every transaction. This is not only unfair to the merchant, but it can lead to a huge loss of revenue. A reliable and trustworthy provider will offer low-cost and secure solutions to all high risk merchants. It's often good to reach out to your peers to find a merchant they have used and have had success with.
Your business or customers shouldn't have to suffer, just because you are labeled high risk. In fact, everyone involved in the transaction should be offered simplicity and expedient customer credit card processing. It is important to make sure that the provider can offer sale, void, and refund electronic check processing, as well. In order to run a successful company, you will need to be treated fairly, even though you are a high risk merchant.
While many credit card processing providers will offer customer services to their clients, it does not mean that the service provided will be top notch. It is important for your company's productivity that you are never forced to remain on hold for long periods of times, when you are calling a customer service department. Another important factor is getting to actually speak with a human and not being forced to communicate with a robot. It is crucial that your phone call is answered in a timely manner and the issue is remedied as soon as possible. At High Risk Solutions we start by giving you a personalized consultation so we can provide you with the best solution for your processing needs. We understand you want a provider you can trust and some one to grow your business with.
Banks who would normally accept a higher risk profile will shy away from your business for one reason or another. For these cases, we have created relationships with offshore banks who are willing to work with legal businesses and offer custom solutions. While these solutions will involve higher fees, these can sometimes be very beneficial (and even more profitable) for your business.