Is your business tabbed as high risk? Do you need to open a merchant account to grow your business, but you aren’t sure you can afford the high reserve rates? If you’re trying to find a way that will help reduce the rate you will have to pay, be aware there are ways to help lower reserve rates. Below you can read the ways to lower required reserve rates for your high-risk merchant account.
Reduce Reserve Rates with eMerchantbroker.com
Turn to EMB, the #1 high risk payment processor in the US that boasts an A+ rating with the BBB and is rated A by Card Payment Options. EMB is named one of Inc. 500’s Fastest Growing Companies of 2016 and offers exceptional payment processing services to merchants of any type and size. EMB has developed a process to help companies manage payment processing and mitigate risk and reduce associated costs. If you’re interested in reliable and low-cost high risk payment processing, turn to EMB.
If you want to lower reserve rates, you should reduce the number of chargebacks you process each month. Most merchant account providers offer chargeback management and monitoring, but these services vary from provider to provider. If you have less monthly chargebacks, the amount of your reserve rates may drop, depending on your account provider. Moreover, you may try to negotiate the initial reserve rate.
Choose Another Billing Cycle
If you change the billing cycle to a monthly payment, you’ll have greater chances of enjoying significantly reduced chargebacks. Monthly charges are more common, and you can remember them more easily. Also, they guarantee more security and cash flow for the business offering the services or products.
Sell Your Own Products
The quality of the product and brand reputation may be brought into question if the number of chargebacks grows. If you sell your own products or services, you’ll be able to enjoy lower risk and potentially reduce required reserve rates.
If you’re a high risk business, follow the above mentioned tips to reduce reserve rates for your high risk merchant account.