High Risk Merchant Accounts & Credit Card Processing

Aug 22, 2020

If your business is associated with a degree of risk, you need to obtain a high risk merchant account. This means you need to apply for a certain type of business bank account from a reputable high risk merchant processor. Let’s dig deeper into the topic and see who can help you with secure and low cost merchant processing services.

High Risk Credit Card Processing

A high risk merchant account is a payment processing account that businesses in the high risk field need to acquire if they want to accept payments online.

Merchants operating online very often get rejected by banks even though they lack poor credit scores and bad reputations, and have the necessary revenue streams. The reason why banks shy away from them is that these merchants lack bricks-and-mortar businesses or don’t have enough assets.

Banks put these merchants into the high risk category because of the risks associated with this type of businesses. What if they disappear or go bankrupt before without paying back their debts.

When it comes to the high risk classification, merchants may get it because of the average transaction volume, industry type, typical chargeback rate, fulfillment timeframes, or due to subscription-style payments. Any of these factors will put your business into the high risk category. 

High Risk Merchant Accounts From eMerchantBroker.com

If you’re running a speculative business as banks like to call it, you should find a respectable credit card processing company that guarantees speedy, secure, and cheap transactions. That’s where eMerchantBroker.com steps in. EMB’s professional team offers safe and low cost payment processing for online businesses and offshore merchants around the globe.

EMB is offering cutting-edge services designed for high risk credit card processing. With EMB, you can enjoy the most advanced software/hardware and solutions that are most relevant to your customers’ purchasing wants and needs.

One of the main reasons why merchants choose to work with eMerchantBroker.com is that EMB is always there when the customers need it most. eMerchantBroker.com is a BBB Accredited Business and carries an A+ rating.

To sum up, mainstream providers of merchant services and high street banks tab some businesses as high risk. This could be for more than one reason such as offshore operation, high-fraud sector, a higher level of chargebacks, and more.

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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