High-risk Merchant Account – Top 5 Reasons You Will Be Best Benefited

By Author: emerchant pro
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A High-Risk Merchant Account is an account that only accepts payments by credit or debit cards, as well as other electronic payment methods. If you want to manage your business through electronic transactions, you’ll need a merchant account.

A merchant account can supplement, but not completely replace, a personal or corporate account. It cannot be used as a substitute for any form of account or for personal transactions. These are just used as sales methods.

For high-risk merchant accounts, two things are important: an individual’s history and his company account.

5 signs you would benefit from a High-Risk Merchant Account
High-risk merchant account comes with several benefits that other accounts cannot afford. With it, you’re known as a worldwide merchant having the ability to conduct international business.

Can run a Higher-Risk business
Doing online high-risk business is only possible if you have a high-risk merchant account in order to accept digital payments. They facilitate as a bank account that involves and controls all financial activities of merchant’s business. ...
... Though this account serves tremendous benefits but getting a merchant account especially for merchants having high chargebacks history is a bit difficult task. Industries that fall under high-risk categories are

Forex Trading
Online Gambling
Online Casino
Tobacco
Escort Service
Adult Entertainment (including selling of Adult Toys)
Buying & Selling of Weapons
Travel
E-commerce
Cannabis Dispensaries
Higher Level of Chargeback protection
You have a better chance of maintaining your merchant account in excellent shape if you have high chargeback protection. When a merchant has a long history of chargebacks and reaches the chargeback threshold, for example, their account may be canceled. It’s easier to keep a high-risk merchant account in good working order with a high-risk processor. However, this does not imply that you can continue to ignore multiple chargebacks.

Global Coverage & Expansion opportunities
As a high-risk merchant, you can expand your business operations globally by accepting a variety of currencies from diverse low-risk countries. This global reach might help you expand your firm in new directions. Access to the International market entails a significant level of risk. Low-risk merchant accounts, on the other hand, have various restrictions and are limited to domestic use only.

Those with a high-risk merchant account can sell a variety of items and services, whereas those with a low-risk merchant account cannot. It might provide you with additional options to sell your products and earn more money as a result of this. You may also have numerous options for long-term expansion. You may be able to make a lot of money while increasing your business.

No Volume Caps with lower chances of account termination.
A high-risk merchant account manager doesn’t have to worry about meeting a monthly volume target, so they can trade as much as they like. It enables a business to move any amount of money from one location to another at any time. For low-risk merchant accounts with a monthly target volume, the situation is quite the contrary.

The bank may close a low-risk merchant’s account if it receives chargebacks. In high-risk merchant accounts, this scenario is unlikely because both parties are aware of the danger in advance. As a result, a few chargebacks will not result in their accounts being terminated. However, it’s a good idea to keep an eye on the chargebacks that high-risk merchants are getting.

Flexibility & Customization
In comparison to other merchant accounts, a high-risk merchant account has more flexible payment alternatives. Low-risk merchant accounts are unable to offer such payment flexibility. High-risk businesses can process recurring payments and a wider range of services and items at the same time. In other words, a high-risk merchant can process more payments and receive a higher monthly payment volume.

Points to consider when searching for a high-risk payment processor?
There are a lot of high-risk payment processors out there, so picking one that will satisfy all of your criteria aren’t easy.

Serving businesses like yours: Make sure the payment processor you use is compatible with the business models you have. They should be aware of the nature of your business and requirements.

Account Security: Most importantly your PSP should combat your payment processing services as a chargeback prevention solution. It should come with a multilayered approach to security as high-risk merchants create more chargebacks or fraud attempts. Antifraud tools, AI-based fraud checks, real-time notifications, and other services are available upon request.

Expertise& Experience: When it comes to high-risk merchant accounts few things are very important. The length of time that the company has been in business and the experience of its leaders are important. Their understanding of the in’s and out’s of particular sectors also helps.

Flexibility: A high-risk payment processor should offer a variety of payment options to cater to all your business demands. Make sure you can talk about the charges, terms, and SLA’s that are specific to your company

Pricing Structure: The cost structure for services is the most significant factor to consider. Charges, as well as any additional costs, should be clearly stated on the Payment processors website. There should be no charges that aren’t disclosed. If you can’t figure out how much you’ll be charged, it’s wise to switch to a different high-risk processing partner. Also, keep in mind that as your company expands, your charges will decrease.

Customer Support: Check to see whether there is someone on the other end of the line. Consider what can happen if you have payment troubles on your website and your payment provider is unable to assist you.

Why choose only eMerchantPro? Most promising Payment Service Provider
eMerchantPro is one of the fastest-growing payment service providers in the United States, specializing in High-Risk payment services. They offer a wide range of services thanks to their cutting-edge technology and extensive bank network. Moreover, Real-time payment processing, Level 1 PCI compliance, 3D secure, recurring billing, better fraud protection, and seamless integration are some of the services they offer.

Some of the features that make us different from the competitors
Ideal for both small as well as large service-based industries.
Award-winning chargeback & fraud control.
Best-in-class Level 1 PCI compliance
Seamless integration
Multi-currency checkout with e-commerce payment gateway
Approval rating 99%
Automated recurring invoicing
Responsive customer support
Conclusion:
High-Risk Merchant Accounts have a lot of advantages. However, in order to run a profitable organization, you’ll need a dependable PSP who can get you through. High-profit margins are only feasible if you have the right technology for your business.

Though obtaining a High-Risk Merchant Account may be difficult. Still, eMerchantPro can easily provide you with the best payment services at consistently lower possible charges. Contact us for more details.