Why your business depends on your merchant account
What is a merchant account?
A merchant account is a type of bank account, approved by a bank or financial institution that allows businesses to accept credit or debit card payment from their customers. However, the type of business applying for a merchant account may affect the level of risk associated with that merchant account So what does High Risk Merchant Account or High Risk Merchant Account providers mean?
Merchants are usually considered high risk for one of the following reasons:
- Worst-case scenario of taking a loss on your account, due to your personal credit or company finanacials not able to support the sales volume that you are applying for.
- Your service or product has a longer chargeback liability period. If you are offering annual memberships, customers have 18 months to issue a chargeback (6 months from the end of the service date).
- You are in an industry that has a history of high-chargebacks. The bank feels they will spend too many resources managing your account, and eventually have to turn you off regardless if/when you exceed chargeback thresholds.
- The account has a "reputational" risk, such as the adult industry.
- If you are on the TMF or MATCH list.
Do you belong to High Risk merchant types?
Though these businesses may be profitable, they can run into problems taking payments due to the non-availability of merchant account for high risk business. Businesses with one or more of the following features make them a merchant account high risk:
- The business has been black listed by credit card companies on the TMF or MATCH lists making you a merchant account for high risk business.
- The business' guarantor has poor personal credit.
- Products or services that the business sales are deemed to be prohibited by some but not all banks.
- The business sells future deliverable products, like a hotel reservation, tickets to an event, etc which is considered as a merchant account for high risk business.
- The business sells expensive items, like furniture or custom auto parts, etc.
- Industries with historically high chargebacks.
- Memberships with automated recurring billing.
- Businesses with high sales volume, without having established company financials to support the chargeback liability.
If a merchant is considered high risk, they will have a more difficult time obtaining a merchant account, but Rapidas Group has the experience and the relationships in place to assist you!
Almost all serious business ventures need a merchant account to process credit card transactions, but not all of them have a fair chance. Especially high risk merchants.
That's where Rapidas Group comes in. Our customised high risk merchant account services are meant to help out high risk merchants find the best payment processing options for their businesses. Through a diverse network reliable banking partners, we assure your business to earn a fast approval and start accepting online credit card payments. The best high risk merchant account providers industry is not necessarily known for its commitment to honesty and ethical business practices. However, there are high risk merchant account providers that stand out and offer a fair and ethical service and we at Rapidas Group value our reputation as one of such entities providing best high risk merchant account services. In an industry that is known for shady dealers, we stands out as one of the most honest, reputable, and straight-forward merchant service providers in the industry, due to our high-risk merchant account services which always lives upto our standards of ethics.
How can I lower my risk profile of my merchant account?
An e-commerce business is often labelled as such for a number of reasons: industry type, high volume or a high chargeback rate.
- Reduce Chargebacks: Merchants can lower chargebacks by improving their customer support, delivery time or improve their sales scripts to reduce pressure on a customer.
- High Volume Solutions: For high volume merchants, opening multiple merchant accounts is the solution to a lower risk profile. Multiple merchant accounts enable a merchant to allocate sales to different accounts, therefore cutting your monthly volume.
- E-Commerce Security Solutions: Added security measures also lower a merchant's risk profile. Rapidas Group offers its merchants the option of CVV Check, Velocity Rules, Address Verification, Fraud Card Blacklists, IP Geolocation, 3D secure (Verified by Visa), Pre-authorisation, MasterCard SecureCode protection.
Need the best High Risk management?
Need high risk merchant account payment gateway? Need best high risk merchant account services which deliver what it promises? Rapidas Group is always eager to help merchants find the payment processing they need, regardless of risk level.
As a respectable and dependable merchant, it can be quite frustrating to have processing companies tell you that the business you are is a under merchant account high risk. Although you might know and have the books to prove that your business has been reliable, many will shy away because of the future damage a merchant account high risk account might cause. If a bank gives an account to a merchant that later has financial trouble, it can be damaging to the high risk merchant account providers. Hence, why many banks feel they need to look out for merchant account for high risk business to protect themselves. At Rapidas Group we dont sky away from high risk gateway merchant accounts or merchant account for high risk business. We as high risk merchant account providers provide high risk merchant account instant approval. At Rapidas Group high risk merchant account instant approval is a quick & effective. You'll need a just a few things to get started, like identification and business information. Once complete, our team will take over from there. All you need to do is sit back, relax, and wait for high risk merchant account instant approval process to be over and be contacted.
The best reasons why Rapidas Group is the right choice
- Competitive Rates & Cost-effective high risk merchant account services;
- Quick Onboard & Technical Integration Guidance;
- User-friendly Backstage Management System;
- Weekly Payout & On-time settlement for merchant account high risk;
- Customized Solutions & high risk merchant account instant approval;
- More than 100 Currencies accepted;
- Various ready-to-use shopping cart modules;
- MO/TO transactions facility;
- 3D secure payment Verified by Visa, MasterCard etc.
- Fraud & Risk Management for merchant account high risk;
- Risk Control Methods: CyberSource, MaxMind;
- PCI DSS Level 1 Compliance;
- Customer Service 24/7 customer service by phone & email;
- Real-time refund & chargeback update;
- Real-time alert on fraud-potential transaction.
Rapidas Group can provide payment solutions for a variety of merchants' needs for both retail and e-commerce businesses. If you have a storefront business and a website you'd like to sell your products on, read about our retail merchant accounts and our internet merchant accounts. If time is what you value high risk merchant account instant approval services is what you need to choose.
How to open High Risk merchant account services?
It can be perplexing for a high risk business to find a merchant account provider because most financial service providers follow stringent guidelines for approving a business's merchant account services. Again, this is caused any number or combination of the factors discussed above.
Contact Rapidas Group today to discuss your account needs with one of our high risk merchant account payment gateway specialist. With thousands of transactions made daily through our secure high risk merchant account payment gateway, our extensive range of global payment solutions enables your customers to pay by their preferred method. The fact that your business is a high risk gateway merchant accounts, wont be a hurdle for your profits. Our straight forward application process for high risk merchant account payment gateway,delivers high approval rates, providing solutions to merchants of varying processing volumes, trades and geographical locations in high risk gateway merchant accounts groups.
So whether your business is local or global, talk to us about how we can tailor a solution to meet your individual needs for high risk merchant account payment gateway.
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