The Process of High-Risk Credit Cards

Feb 19, 2020

High-Risk Credit Card Processing

EMB provides the best payment gateway solutions that will help you manage your business transactions as smoothly and conveniently as possible. Often times merchants will require payment gateways to begin accepting payments from customers. Customers that have credit or debit cards are able to make payments with their cards on the merchant website. A PSP is needed and can help you with getting the right payment transaction solutions by giving you the merchant account. EMB can provide you with the right High-Risk Processing services that will help your business grow and succeed. A High-Risk business is high-risk and having high financial losses may happen. This is why our main focus is to have safe and secure payment transactions and secure networks so we can successfully make fund transfers. High-Risk Credit Card Processing will help you secure more customers with credit or debit cards. We make sure that the merchant has reliable customers making payments through credit or debit cards.

Overcoming the odds

A High-Risk Merchant Account may seem difficult, but it doesn’t have to be complicated. Running a business often requires using funds through credit or debit cards. If you are an e-commerce business then you are most likely using a PSP provider in order to accept payments from customers. Some PSP providers can work with your business to come up with possible solutions. But not every service provider will treat merchants the same. The higher volume of Merchants means lower processing rates and often getting more generous contract terms. The degree of risk a business presents to its processor can also determine how they’re treated. All processors will determine if your business is in the high-risk category.

If your business is in the category of High-Risk, then the consequences can be difficult. Often processors refuse to provide businesses with merchant accounts, while others will charge very higher rates and fees that you would otherwise have to pay. Sadly, other service providers will purposely work to give the merchant an efficient merchant account facility. In order to help merchants who are having difficulty getting the merchant account and providing them with an efficient payment processor at low-cost rates. It is crucial to know that with a High-Risk business your processor will determine if you fall into one of their High-Risk categories when applying for a merchant account. EMB can help you by providing a payment gateway that will make sure you get the smoothest and most flexible payment transactions.

Chargeback Prevention

Having a low chargeback rate is good because it will ensure a high conversion rate and less customer downfall rate. Having higher chargebacks will ensure higher customer downfall rates and more dissatisfied customers. Customers are more likely to trust a business that has reliable payment transactions on the merchant website. This is why it is important to have as least amount of chargebacks as possible. Fewer chargebacks will help build more potential customers for your business.

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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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