Credit Card Processing for the High Risk Merchant

Feb 20, 2015

Are you a new business or are considering opening a business that is considered “high risk”? Are you unsure of how to secure payment processing for a business with such a label? Believe it or not, the process is not as difficult as it may seem upon first glance.

A merchant account may be the answer you are looking for. A merchant account is a special kind of bank account. Its purpose is to hold funds that are captured from credit and debit card sales. This type of account is appropriate for a business when a traditional financial system refuses to offer you their services due to you having the label of being “high risk”.

A brick-and-mortar establishment processes their transactions using a POS (point of sale) machine; this machine takes the cardholder data, formats it and then checks with Visa or MasterCard to see if the customer has sufficient funds.

An ecommerce transaction, however, works differently. These transactions take place online via a payment gateway. The gateway receives the transaction request and connects with Visa or MasterCard. Down the line, the customer’s card issuing bank will be contacted to see if there is sufficient funds available.

If you’re looking to open a merchant account, be careful that you are not sweet-talked into a bad situation. Be sure to ask the prospective processor what documentation they require and how long the process will take to get approved. You should always receive an answer to any and every question you may have.

Before you apply, make sure that you have the following items checked off of your list:

  1. Gather together your financial statements
  2. Consider your processing history

Payment processing provider, eMerchantBroker.com, has a fast, simple and hassle free application process for their high risk merchant accounts. They offer services to a large list of businesses and industries that are considered high risk. Once your application has been submitted and you have been accepted, you can expect to receive access to your merchant account in as little as three days. Don’t let credit card processing slow you down, there are fast and safe options to fulfill your business’ needs.

Let us help you get a high risk merchant account today!

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