It’s practically not possible for commerce merchants to operate without receiving payments from credit or debit cards. Before you can take “plastic,” you have to use a payment processor who acts as a link between you, banks, and credit card networks. Many financial service providers do business exclusively with low-risk businesses, who they see as a low risk investment. That means businesses considered high-risk will have a limited 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.
Do your Due Dilligence: If you Google »merchant account services«, you’ll most likely be overwhelmed by the results showing all the different providers for accepting card payments, either for ecommerce, MOTO, or High Risk merchants. It is important that you know who are you applying with. First, you need to find out if you’re applying for a Direct MID (merchant account directly with the acquiring bank) or Aggregate MID or Payment Facilitator MID (more merchants share a single MID). Try to get the answers to following questions: Are you working directly with the acquiring bank or a middle-man Payment Service Provider company (PSP)? Where is the provider and acquiring bank based? Are they EU/UK regulated Financial Institution and have their own PCI compliant gateway? Do they already process payments for other businesses in your niche? Can you find any complaints online?
Payline Data is one of the best overall credit card processors on the market for retail businesses because of their competitive pricing that can scale for small and large businesses. They provide resources select high risk businesses as well. Payline has a shorter list of busineses it is willing to work with than most other processors on our list. For Payline, they are willing to work with companies that deal with: Adult Products, Adult Video, E-Cigarettes, Firearms, Gadget Repair, House Rental companies, Information Marketing (Real Estate Based and Tech Support/PC Support, Nutraceuticals, Tour companies, Travel, Used Cell Phones and Other Technology, and Vaporizers.
High risk merchant account card not present in 2019. This is a hot subject as more countries open up to new services. High-risk merchant accounts are a group of finance services that allow companies 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 limited options in processors, plus raised fees and harsh contracts. Being named as high-risk sounds terrible. But in some cases, it can be your best option. We have been discussing about multiple aspects of the high-risk merchant account industry for many months and have most likely touched on most, if not all, of the most important problems. Here are some more tips on high risk merchant account processing. Read more details on High risk merchant account fees.
Focusing primarily on high-risk e-commerce businesses, eMerchantBroker claims they approve 99% of all account applications. The company has a positive reputation for transparent customer service and reliable support. We worked with all of the high risk credit card processors, to be able to compare and a solid pick is iPayTotal. They cover all business types, have a vast experience in the business, fast customer support and low fees.
High-risk merchants have essentially the same needs as everyone else when it comes to selecting a merchant account – it’s just harder to find them if you’re in the high-risk category. High-risk retailers are going to want to have access to reliable, up-to-date credit card terminals, as well as possibly POS systems and mobile payments solutions. eCommerce merchants in the high-risk category will need a solid payment gateway, and possibly a virtual terminal to go with it. Integration with online shopping carts is another important feature.
Our goal is to have your account approved as soon as possible with the best rates. Typically within 5-8 days, your account is ready. Integrate your website with a selected payment gateway or use a Virtual Terminal to accept credit card payments. Tailor-made package includes an arrangement of a merchant account (MID) with one of our EU/UK or international acquiring banking partners, with an award-winning payment gateway service, reporting tools, integrated fraud-prevention, and free dedicated lifetime support. We bring transparency and standards to the high-risk payment processing industry, providing businesses with the most competitive deals in high-risk merchant accounts suited to their needs – not just for now, but long-term.
Company Address: 60 Windsor Avenue London, England SW19 2RR
Company Website: https://ipaytotal.com/.
Support Email: firstname.lastname@example.org
UK Tel:+44 800 776 5988
US Tel:+1 845 215 4017
Company # 11357725