The fintech industry is on the rise. Massive innovation has helped money move more seamlessly and securely. Fintech has expanded so much that it is now offering specialized services such as bill payments, money transfers, investment management, and lending, just to name a few. Fintech companies are impacting the financial sector in ways never seen. However, the radical shift from...
When a business has been determined to be high risk, it means that credit card processors have deemed this business prone to a higher than normal rate of chargebacks and an elevated risk for financial failure. Payment processing is also at a higher risk, especially in the e-Commerce space. Merchants have assumed this risk, however, payment processors and acquirers stand...
The payment ecosystem can be incredibly intricate and complex. All entities and intermediaries are interdependent of each other, each doing their part to bring the payment acceptance process to completion. Each player is a piece of the grand puzzle within the payment landscape. Within the payments’ environment are strict regulations and laws at local as well as global levels. Every...
It was a banner year for the Cannabis industry in 2020. Legal sales nationwide hit an astounding $17.5 billion, which was a 46% jump from 2019. According to BDSA, a cannabis sales data platform, the majority of the sales growth hailed from established “adult-use” markets in Colorado and in Oregon. Colorado increased sales by 26% to reach $2.2 billion. Oregon...
High-risk businesses can be highly lucrative and rewarding if you are up for a challenge. Although the term “high-risk” does have a negative connotation, you are certainly not barred from playing the game within your vertical. Just seeing the sheer amount of players around you is a clear indication that there is room for everyone. However, let’s not minimize the...
Launching and operating a business can be an all-consuming endeavor. A considerable amount of time, capital, and strategy is essential. Among the plethora of requirements to start and sustain a business, there is one inescapable event that rattles even the most seasoned entrepreneur…risk. The conventional risk associated with businesses usually refer to the possibility of falling short of profit goals,...
High-risk merchants have a lot to consider when launching and running their online establishments. The first and most critical component they must tackle is how they will process their credit card payments. Most payment service providers will not offer these services to high-risk businesses. Once they secure a credible payment service provider, they need to ensure that they offer a...
Since the COVID-19 outbreak, many brick and mortar businesses have had to close their doors in order to abide by social distancing restrictions and other state and government-issued lockdowns. As a result, consumers have turned to e-Commerce in droves to purchase their goods and services. Because of this new reality, giving customers a straightforward and uncomplicated shopping experience is key...
The phrase high-risk is a scary prefix for most business owners seeking a merchant account. It often means tougher-than-usual terms and higher fees than low-risk accounts. Banks won’t onboard any business category that poses a high financial and reputational risk. So, in a nutshell, underwriters will consider your business risky if they notice something they don’t like about it. This...
Starting a business venture is as challenging as it is exciting. To keep up with the latest customer trends, your business needs exceptional payment processing services that offer multiple payment options. You also need capital to put your plans in motion and get started off on the right foot. But what do you do if you discover your business is...
