If you deal in wine sales, you need to know that it’s one of the businesses currently classified as high-risk by most conventional financial institutions. It comes as a surprise, but try to open a merchant’s account at your local bank today and it’s quite likely that you’ll be turned away.
There are several reasons why online wine sales might be considered “high risk.” First, in the recent past, the wine industry has been characterized by multiple chargebacks. Of course, not all the chargebacks were legitimate but the fact that the industry is attracting such a big number of chargebacks alone is a big turnoff for financial institutions.
The wine industry could also be considered “high-risk” because of the multiple legislations currently regulating the sector and the fact that alongside the drug and adult industries, it’s one of the most monitored sectors in the United States. For instance, the government monitors sale of alcoholic products to minors at every level, right to the top. If the merchant is found selling wine to a minor, the financial institution that provides that merchant with payment processing services might also be implicated. Most institutions are keen not to get involved in such issues.
Now you can get an online merchant account from eMerchantBroker!
The good news is that you can now get online wine merchant accounts from eMerchantBroker! Well, EMB can’t stop chargebacks from happening. Sometimes it’s just imposters trying to win free money and such people just cannot be stopped. However, we have a solid strategy in place that will help you save both time and money when dealing with chargebacks.
First, EMB has developed a special program to prevent chargeback. We use several tools to ensure that you don’t waste valuable time on non-matters. When you open an account with us, part of our responsibility will be to monitor the account 24/7 to ensure that no suspicious activity is going on.
Apart from chargeback detection and prevention, we also provide several other services including;
- Credit card processing – you’ll be able to process all the major credit cards.
- Cash advance – get advance capital whenever you need it.
- Check processing – with EMB, you can process checks by web, phone, paper, or use our new service – iCheck!
Creating an account with EMB is a simple, process. And once you’re part of our community, you get 24/7 support.