Are you in an adult, online gambling, pharmaceuticals, or firearms industry, or in a similar space dealing with higher levels of chargebacks and fraud? If yes, your business is high-risk to banks, and you should think about a high-risk merchant account for your online transactions. Below, you can discover the most important specifics concerning high-risk payment processing and know where you can find the best payment processing for your hard-to-approve business.
Best Payment Processing for Your High-Risk Business
When choosing the best payment processing services for your high-risk business, be aware that not all high-risk merchant account providers are the same. By the way, high-risk merchants are very often interested in merchant account-related costs and an international high-risk payment gateway.
Thankfully, a seasoned high-risk specialist like eMerchantBroker.com knows the pain points of hard-to-approve merchants. EMB can help you avoid halting your business activities because of the challenges related to being high risk. Voted the #1 high-risk processor in the U.S., EMB guarantees the best payment processing, including international credit card transactions, with the cheapest possible rates for your high-risk transactions. EMB carries an A+ rating with the BBB.
High-Risk Credit Card Processing You Need
You can’t march towards your goals unless you have the right services for your eCommerce business. Things get worse for those who are in a high-risk industry, especially now when the world is facing the devastating impact of COVID-19.
Here’s what you can come across:
- Longer contracts
- Tiered pricing
- Chargeback fee
- Automatic renewal clause
- Early termination fee
- Liquidated damages clause
- Rolling, upfront, or fixed reserves
- Account freezes or terminations
So, it’s crucial to know who you’re partnering with while running a business. That’s why you should take the key factors into account when opening a high-risk merchant account so you can successfully enter a new stage of your journey.
- When applying, know all your company’s needs.
- Work with a true expert and professional team.
- Make sure the high-risk processor supports multiple payment methods.
- Pay attention to the offered pricing structure and flexibility.
- Find out whether the processor charges early termination fees and watch out for automatic renewal clauses.
- Look for exceptional protection techniques against frauds and cybercrimes capable of preventing and immediately catching distrustful activities.
- Make sure you’re offered superior chargeback protection.
Key Points to Know About High-Risk Credit Card Processing
Running a high-risk business isn’t easy. To make things less complicated it’s vitally important to work with the right provider of high-risk credit card processing services. Know what key factors to pay attention to when applying.