What is a High-Risk merchant account?
A business is considered high-risk because of a variety of factors such as it operates within a high-risk industry and it has a risk of financial failure. Other reasons that make business fall under a high-risk category:
- Business Location
- Business Size
- Credit History
- Credit Card Processing History
- High Chargeback Ratios
- Type of Industry
- Whether a Business Exclusively Operates Online
In such a case, a high-risk merchant account is suitable for businesses, and let them sell items belonging to areas, such as adult entertainment, online gambling sites, ticket sales, and even prescription drugs available online. While the products sold and services provided are completely legal, these items come with a higher risk of theft and can hamper the sales and thus affects the revenue.
Whenever a business is labelled as a high risk, it doesn’t affect their online payments, however, such businesses are subjected to higher processing rates. Not only this, but banks can also request a reserve on a business’ credit card processing. At times, high-risks merchants can get banks to reclassify a business. However, merchants who are categorized high-risk businesses have to face certain challenges as no banks are eager to provide payment processing for industries deemed high risk. If you are the one facing such challenges and are looking out for ways that would help you out with your international payment solutions- WebPays is the answer for all your queries.
Our team at WebPays strives to give your business customized payment solutions that will not only be useful for you but will also allow your customers to make a payment without worrying about frauds or other payment risks. We also offer other financial and payment solutions that allow high-risk merchant accounts to grow and prosper such as:
- ACH Processing
- Business Funding
- Chargeback Dispute Resolution and Prevention Programs
- Instant Check Processing Solutions
- High-Volume Payment Solutions
- Merchant Cash Advances
- Mail Order/ Telephone Order (MOTO) Processing
- Online Payment Gateways
- Point-Of-Sale (POS) Solutions
WebPays is the solution to all your queries. Visit our web portal and fill one application form with all the asked details and documents. Once our team verifies your application, they will get in touch with you to understand your business needs and will help you to understand the further process.
With years of experience, we boast of our world-class services that allow high-risk merchants to get an effective High-Risk Payment Gateway Solutions.
Read our another blog post : Herbal Merchant Account