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.