How to get a High Risk Credit Card Merchant Account Hassle Free

May 27, 2014
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Many vendors with high risk companies forgo the opportunity to get a merchant service account, because of fear of rejection. They instead choose an avenue such as PayPal, due to low fees and questions. However, PayPal is notorious for flagging, suspending, and even closing accounts that have a large volume of activity. It’s time that you looking back into merchant account providers, as there are options for your high volume, high risk business.

The high risk term attached to businesses are turn-offs to many merchant account providers, as this label means that these companies are at a higher risk of having fraudulent activity. Because of this, many vendors think the only option they have left as far as credit card transactions is through PayPal. PayPal seems trustworthy, and it has been around for a while, so it is well known. However, PayPal is notorious for flagging, suspending, or even closing accounts without notice. This happens when a receiver or vendor has what PayPal considered a “suspiciously large” number of transactions at any given time. This cannot only damage your web store, but it can also cost you money, as at times PayPal does not refund the money is has flagged.

The best thing a high risk merchant can do is to avoid PayPal as a transaction source, and use a high risk merchant account provider, such as eMerchantBroker.com. With eMerchantBroker.com you will have the freedom to accept credit card payments without the fear of having your account flagged or closed due to excessive transactions. eMerchantBroker.com specializes in high risk merchant accounts, so they know the risks involved with a high risk account. However, they also believe that just because an industry is considered high risk, the merchant should not suffer the consequences. eMerchantBroker.com will never “hold” your money as PayPal would, and provides you with the most up-to-date security, technology, and terminals known to the market. These are rarities in the high risk merchant account industry.

High risk merchants flock to PayPal due to their few questions and easy and cheap transaction service. However, their love for PayPal quickly ends when PayPal decides to flag or close their accounts due to a large volume of transactions. To avoid this hassle, high risk merchants should forgo PayPal and choose a reliable high risk merchant account provider, such as eMerchantBroker.com.

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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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