What is a High-Risk Merchant Account?

eMerchan tPro: High-Risk Merchant Online Payment Solutions

What is a High-Risk Merchant Account? And how can you get it?

Did your business get labeled as high-risk by your payment processors? Don’t worry! A high-risk merchant account is here for you! Paying higher processing fees is the ability of a high-risk merchant account just to compensate for the risk factors involved. If you go through this blog, it will tell you how come your business is high-risk and how to pull it out of those issues.

What is a High-Risk Merchant Account Getting chargeback, many frauds, and a higher volume of refunds makes you one of the high-risk merchants. Most of the time, it could be the reason, just because you’re a newcomer who hasn’t been in the market before and never processed any payments.

Sometimes in which industry you’re working is considered as high-risk. And online frauds can be the reason too. High-risk merchant account is capable of working in this industry too.

Can You Control Higher Transaction Issues?

Several companies in the market accept credit card payments as payments for the products consumer wants.

Processing fees differentiate from company to company and products to industries. So, you can assume that the processing fees which are charged upon merchants in low-risk businesses can be high in high-risk businesses.

Although even low-risk merchants pay chargeback too, it’s slightly a little bit higher than the low-risk businesses. As a high-risk merchant, many times, the payment processor holds a certain amount from your income. Just in case those transactions get suspicious for fraudulent payments. So, there are many restrictions, and you need to overcome them.

High-risk businesses also generate higher revenue and turnover than any low-risk business. Bigger the risk, the bigger the profits. Just because of these situations, merchants get into trouble and don’t even get help from local banks, which hinders their growth.

Why Does A Merchant Fall Into The High-Risk Category?

Deliberately calling you a high-risk without reason is impossible. There can be many possibilities that you might actually be attracting some of them. Well, each PSP thinks differently works differently, so the reason for judging you as one of them can vary. Let list some of the factors that any PSP can think about a high-risk merchant.

· Transaction volume is off-limits.

Although not every business gets transactions in a large volume, for some, that’s just the daily outrun. And these can be one of the reasons for calling someone’s business high-risk. Monthly turnover, which crosses $20,000 and every other transaction hitting $500, can be part of these listings.

· Offshore payments It’s not that any business can’t accept offshore payments. But offshore payments attract too much risk. Selling into countries under the label of high-risk can cause online frauds, which is obvious to us, you or anyone globally.

· Startup!

Take it simple! Not everyone is running an online business, so there can be chances that you can run into someone who can’t show their track records. And as a fresher, getting such services from local banks isn’t easy, and not completely impossible.

· Industry Records not mentioning any crime, bad history, or involvement in any filthy work can’t save you from the suspicion. You can still get the label of a high-risk merchant as the industry you’re dealing in is one of them.

High-volume transactions, a large number of the chargeback, and reputation risks will provide you with the tag. Ex- running an adult toys business, and one of your consumer’s kids opened up the site and unknowingly made the payment.

They’ll still get back at you and claim a chargeback for the reason that the payment wasn’t made by the real cardholder. How would you feel?

How To Apply for a High-Risk Merchant Account And Get Faster Approval?

Business and tax files will explain your business thoroughly, so they’re mandatory. After that, processed application, PSP will decide whether to treat as one of the low-risk merchants or put you on the list of high-risk. Gradually they’ll make a plan for you.

List of things needed for these services ●

Copy of business license

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Certified if incumbency

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KYC and KBC

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Address proof of the merchant and utility bill

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Previous three months processing history

Businesses run in different sectors need an expert to handle their outcomes at payment processing. So, you need to find a reputable and relatable PSP for your business. Here, we want to introduce you to one of the leading brands for providing merchant services.

eMerchantPro serves everyone!

From low-high-risk businesses, everyone came to eMerchantPro for merchant solutions. And as our nature, we provided them with the best ever services they could get. Getting a high-risk merchant account and a high-risk payment gateway in fine rates can change their businesses.

And we’re glad to become the reason for their trust. To get this high-risk merchant account, follow us through the email, and get your expert solutions, now!

Contact Us:-

onboarding@emerchantpro.com

“ADDRESS” 616 Corporate Way, Suite 25040, Valley Cottage, NY 10989 Email at us: onboarding@emerchantpro.com

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