How High Risk Merchants Can Limit Fraud

Apr 21, 2016

High-risk businesses are associated with higher rates of chargebacks and disputes. Fortunately, it is possible to limit payment transaction fraud and reduce chargebacks. With the right chargeback protection and prevention programs available in the high-risk industry, merchants can successfully fight fraud and minimize chargebacks.

The Cause of Chargebacks

Chargebacks appear after a customer files a dispute with his/her bank with regard to a credit or debit card transaction. If the merchant isn’t involved in the dispute process and is informed too late, chargeback problems emerge.

Merchants are left out of the dispute process because customers don’t often let them know about the dispute. 58% of all instances state merchants are never informed about the pending dispute. This results in making merchants unable to defend themselves against the initially-caused chargeback.

It is critical for high-risk merchants to apply to a true professional in the field for payment processing services. Voted the number one high-risk merchant account provider in the US, EMB offers the latest chargeback protection and prevention programs to customers. Bu sure, your high-risk business will ultimately be protected with EMB.

EMB provides a proven platform, superior support, quick and painless application processes, fast approvals within 24-48 hours or even sooner, and the lowest possible rates in the industry.

Benefits of Chargeback Prevention Programs

Chargebacks count for nearly $1 million each year. Fraud related to credit card processing is a top issue to consider. EMB’s chargeback prevention program allows merchants to be notified of disputes early enough so to take the necessary measure to save their funds from being sent back on invalid claims.

Chargeback prevention and fraud-fighting programs offered by EMB help merchants:

  • Limit fraud and fight it back
  • Get notified about chargebacks immediately and become proactive to fight fraud
  • Retain profits
  • Partner up instead of fighting alone

Chargebacks are going to affect your business and take your time and efforts. Chargeback-related losses account for 270%. You should take all the necessary steps to protect your business against chargebacks.

EMB partners with Verifi and Ethoca to offer you an unmatched alert and prevention system. Verifi’s new Cardholder Dispute Resolution Network (CDRN) enables merchants to directly control credit card transaction disputes by networking with both banks and card issuers. Thanks to these chargeback resolution networks, merchants can reach the highest rate of chargeback resolution. Choose the best for your business and start growing.

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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