E-commerce is growing around the globe. 2015 saw the boom of social media selling, new selling apps, and more hacking’s. Hacking’s are no longer a top story on the news, because the happen so often. From in-store scams to online hacking’s, we are all at risk when we use a credit or debit card to make a payment. While online security and terminal security can help, hackers are becoming more and more advanced. This can lead a “non-high risk” labeled business to be put into the category, which can hurt even the most lucrative business.
Being place into this category can leave you in peril with your merchant account. Processing rates can rise, your account maybe scrutinized more, or worse: You could lose your merchant account. Being dropped leaves you on the MATCH list, which alerts merchant account providers to your closure. This can leave you without a way to accept credit and debit cards, which leaves you without a big chunk of your business.
Even though plastic card payments leave you and your customers at the risk of fraud, they are still the preferred method of payment for the majority of American shoppers. The ease of use and the ease of a refund (if necessary) prompts customers to reach for their card instead of cash. However, if you have been placed on the MATCH list, you may be out of luck, unless you know what to look for: A high risk credit card processing account.
The phrase is a mouthful, but you need to make sure this is what you are getting. The high risk processing field is tough, and few processors are equipped – and experienced – enough to deal with the issues that these businesses have. High risk processors, like EMB, have years of experience and a multitude of businesses that back them up with their quality of care. It takes a good business acumen to understand the needs of a business that has been turned down – or tossed out – by other processors. Every business needs to accept plastic payment cards, regardless if they are on the MATCH list, or have a pristine record. Be sure that your merchant account provide understands that.