Posted by John Concrane on July 6, 2019 in Finance
We have been talking about multiple points of view of the high-risk merchant account market for years and have almost sure reached on most, if not all, of the most decisive issues. Here are some more advices on high risk merchant account providers.
High-risk merchant accounts are a subset of financial services that enable businesses to accept card payments from clients. Credit card processors assign merchants to one of two categories: high risk or low (normal) risk, based on a number of factors. High-risk merchants face reduced options in processors, plus higher fees and strong binding contracts. Being labeled as high-risk sounds terrible. But in some scenarios, it can be your best option.
It’s practically impossible for commerce merchants to work without having enabled as payment type the credit or debit cards. Before you can take “plastic,” you have to use a payment service provider who acts as a liaison between you, banks, and credit card networks.
Many financial service providers do business only with with low-risk merchants, who they consider as a low risk investment. That means businesses considered high-risk will have a very poorr selection of potential processors to choose from. Any processor you approach will take a careful, detailed look at your business to determine if you fall under their definition of “high risk,” based on the financial risk your company represents.
Here are some high risk credit card processors : PaymentCloud serves a range of business types–including high-risk merchants–with a reported 98% approval rate for new merchants. Pricing is based on business history, and the company has no application or account setup fee.
Active under various names since 1997, High Risk Pay is specifically focused on serving high risk merchants. The company offers point-of-sale equipment, ACH processing, and chargeback prevention to all of its merchants. High Risk Pay can process payments for e-commerce, travel, e-cigarette, startup, bad credit, international, high volume, and adult merchants.
We did transactions on all of the high risk credit card processors, to be able to compare and our pick was HRMA-LLC. They cover all business types, have a large experience in the field, fast customer support and low fees.
Do you have a business related to Debt consolidation industries ? HRMA-LLC can help you. Read extra details at High risk merchant account processor.