High-Risk Merchant Account Holders Need Top Customer Service

May 23, 2018

Top-notch customer service is a cornerstone to any successful business. Without strong customer service, you will lose existing customers, fail to attract new customers, and deal with other negative blows to your business.
Like online merchants need to be able to handle customers’ problems with orders, refunds, or service issues, those who process credit card payments for your high-risk merchant accounts must offer the same support.

When you contact a payments processor about malfunctioning equipment, a technical support issue, or a billing mistake, you don’t want to hear canned responses, be passed to multiple representatives, and sit on hold for long periods of time. You have a business to run and you need the problem handled quickly, so you can get back to running it.

When you are in search for a processor for your high-risk merchant account, make sure you to turn to one that is accessible and has a team of trained, knowledge representatives at the ready to meet all of your needs. If you do not get great customer service, it will impact your customers and hurt your bottom line. Avoid these situations by knowing what characteristics you should look for when choosing a processor.

What to Look for in a High Risk Processor

Your time is money when you are a business owner, so, when it’s time to choose a processor, choose wisely. Every time you call, you should be speaking with a real, well-trained person. You don’t want to experience phone trees and waste countless minutes clicking through menu options. When you do need to call for assistance, you want a processor that that respects your time and gives prompt answers in a friendly, courteous manner.

Since the credit card acceptance and processing is confusing and overwhelming to merchants, the best processors will be the ones that have trained staff to be able to explain the process in easy-to-understand terms. Also, you should feel like the person you are talking to is addressing your specific problem or question. It should never seem like you are being read a script. Find a processor that recognizes that each customer has different needs and every issue they experience can be complex.

A payment processor should use cutting-edge tools and reporting systems that help you not only accept and process credit card payments, but, helps you better manage your business. Processors that use state-of-the-art equipment and software will be giving you the opportunity to stay on top of important transaction information, as well as chargebacks.

A Final Say on the Matter

You can’t afford glitches that keep you from taking a sale, so the payment provider you choose must be able to quickly and efficiently resolve a technical matter, promptly verify deposits so you can pay your employees, or handle any other issues you may run in to down the line.

Finally, to strengthen the relationship between a payments processor and a merchant, there must be trust. eMerchantBroker.com (EMB), a high-risk merchant account provider, knows how to talk to customers and how to get their issues resolved. It doesn’t pass the buck, and, instead, looks to solve matters in ways to benefit both parties.

EMB understands that merchants need to focus on their businesses and their customers, so they don’t have time for long holds or spend lots of time browsing for answers to equipment issues and other problems, so it offers a dedicated support team that makes a good faith effort to follow through on any of its promises.

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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 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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