A high-risk merchant account compiles a list longer than most people would think. This list makes finding a merchant account a little daunting.
Not what you think
The high-risk market involves more businesses than most consider. It covers escort services, gambling online, and adult merchants. But it also covers things like timeshares, travel agencies, and airline tickets. These are businesses that we need each and every day, and to make it difficult to get merchant services accounts to service the thousands of transactions, is disturbing at best. To see them in the high-risk pool puts a whole new twist on the industry as we know it.
Where to go
Of course, shopping for an account in the local area is a great start. It even keeps the business local and will help the economy in your area. But, if that is not an option, the business must go online and do their due diligence and search for the account that best serves their needs.
Research, research, research
As part of the high-risk pool, there is no way of knowing who will take the business on. So start with the basics and ask the hard questions. Who’s going to do the job with the best efficiency and at the least cost to the merchants? After that is answered, find the one with the best reputation and the best reviews.
Just like anyone, the merchant fills out the paperwork and displays their information for the processor. Then the waiting begins and some might get turned down. Don’t be dismayed and try again. With clean credit, some stature, and belief in the business, dreams do come true. Then the information to get the account up and running begins. Follow their instructions and they will work the merchant through the paperwork. In no time at all, limits are set and the happy day can begin to process payments.
Don’t undersell the ideas of dreamers and employers. They just want to make an income like everyone else and according to the list of high-risk accounts, it could be the collection agency or the tech support crew down the road that is looking for that account.
If you are a business that happens to fall into a high-risk merchant account, keep looking. One is out there for you. With literally hundreds online waiting for you to show up, it is just a matter of some research, some talent, and some time, to find the correct one for you. Amazingly enough, the high-risk merchant accounts cover a long range of businesses and solutions for your online store. Whether it’s your eCommerce needs or your mobile processing centers, they have all the options you are looking for. Just take that extra second to fill out their paperwork and you will be on your way to major sales no matter what part of the world.