High Risk Merchant Account Benefits

Sep 04, 2020

Are you a high-risk merchant facing challenges with opening a merchant account? No worries. Below, you can find all the necessary information about high risk merchant accounts and their benefits. So, let’s start.

High Risk Merchant Accounts

Businesses associated with higher rates of chargebacks and fraud are considered high risk. These are the basic reasons accompanied with other high risk factors as well. Be aware that high risk criteria differ from processor to processor, but fraud and chargeback factors are found with all processors.

When choosing a high risk merchant account provider, you should be quite attentive. Consider working with eMerchantBroker.com, a true merchant processing specialist in the U.S. that’s voted the top high risk expert in the country.

EMB is a BBB-accredit payment processor with an A+ rating that guarantees secure merchant processing for eCommerce business owners and offshore merchants around the globe. If you’re tabbed as a speculative business, as banks like to call your business, EMB is ready to work with you and help you with quick, safe, and the most advanced credit card processing services, such as high risk merchant accounts.

Perks of Using a High Risk Merchant Account

High risk business owners should expect higher expenses associated with merchant accounts. However, high risk payment processing also comes with a number of features that can you use to your advantage. These include:

  • Better chargeback monitoring
  • Rare termination of merchant accounts because of excessive chargebacks
  • Opportunity to avoid spending and money limitations on card trades like it’s with low risk merchant accounts
  • More secure fraud prevention techniques
  • Multiple currency factors with payment gateway solutions so your customers can pay the way they prefer
  • Higher flexibility for your business thanks to the ability to offer a variety of currencies to your customers.
  • Recurring billing that allows you to build more than one payment plan for your business, and use encryption-based security measures
  • International payment processing so to increase your customer base
  • Higher efficiency for tax reduction, which can’t be found with your domestic merchant account providers

To wrap things up, high risk business models require a high risk merchant account. You’re going to face a number of challenges when opening this type of merchant account, however, you’re also going to benefit from it.

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

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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