#highriskprocessing

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High Risk Payment Processors - The right way to Compare Them?

High Risk Credit Card Processors

If you're a merchant considering whether you'll need help from higher threat payment processors, you need to decide that it really is the most effective idea to have certainly one of these processors as they may be advantageous for merchants like you in many techniques. But, once you choose to choose a single, you will encounter numerous different processors. It will be overwhelming for you personally to select 1. But just before understanding the best way to pick a single, let us initial realize what is the processor all about:

What exactly is a higher risk payment processor?

A higher threat payment processor is some thing that offers payment solutions to on-line businesses. It really is specifically beneficial for companies that adhere to risky company models. Examples contain:

• Cannabis Payment Processing

• E-Cigarette on-line payment processor

• Bad Credit Payment Processing

• On the internet gambling higher danger processing

• Adult industry credit card processing.

Businesses like these pointed out above carry a higher danger for the clients and merchants. The danger can either be financial or legal. Even, it could denote the risk of reputation. A high risk payment processing service usually understands the market and accepts liability for any wide range of risks.

What to consider when choosing a high-risk payment processor?

You will come across several higher threat merchant services provider. As you intend to choose the most effective, you'll be able to consider the following:

• Excellent consumer assistance

• Technologies usage

• Compatibility with your company model

• Flexibility

• Pricing transparency

• Knowledge

Only a few higher danger credit card processing businesses shine in all of the ab0ve-mentioned arenas. So, shortlisting 1 may be somewhat less difficult for you.

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When dealing in a high-risk business, the profit of the business is also challenged. You must get an account that offers the stability in the terms of security and chargeback management. Here we are, just join via this link i.e. https://goo.gl/SJJnK1 or call us @ +1 (888) 622 - 6875. We will give you the best solutions.

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How to Choose the Best Merchant Account for High-Risk Business?

Best Merchant Account for High-Risk Business – When handling the card payment for the business, you must choose your card processor and merchant account very wisely. The Merchant Account should handle all your business needs along with the money related issues. Additionally, when you have a high-risk business then you need to choose your merchant account very carefully. This article is a guide for the business owners looking for the best merchant account for high-risk business. Furthermore, if you are looking for specific guidance with respect to your business then you can contact Merchant Stronghold. We have merchant account experts who can guide you to get the best services you want.

How to Choose Best Merchant Account for High-Risk Business?

First of all, you need to lay out the demands of your business to shortlist the high-risk merchant account providers. Then out of those shortlisted service providers, choose the one that feels right. Here are some aspects of the Merchant Account that can help you shortlist good merchant account provider.

High-Risk Business Management – A high-risk business bags number of Chargeback and Representment than other businesses. All these issues are handled by the account providers. To avoid more hassle, a merchant should get the account provider that offers efficient management for the high-risk business.

Efficient Support – The second most important requirement for the high-risk business account is the customer support. Choose a provider type that offers 24/7 support to their customers. This could help in dealing with a lot of matter in the future. Your queries will get answered quickly.

Hardware Services – Generally, the bank or merchant service provider offers the hardware equipment for the card and cashless payment. These devices can include wired credit card terminal, a wireless terminal, a POS system, or a mobile Smartphone-based system with a card reader and an application. Some of these services are free while others have some monthly charges.

Charges – While getting a merchant account you must compare the account charges of various providers. This will help you understand the market price for the service you are looking for and purchase the one with reasonable pricing.

Terms and Conditions – You must thoroughly read the terms and conditions of the service provider. Make sure you understand everything and then sign the deal. If you are unable to comprehend the policies then you can hire an expert to get you the information you seek.

Security and Chargeback – Merchant Stronghold

When dealing in a high-risk business, the profit of the business is also challenged. This is due to the security issues and a large number of chargebacks. You must get an account that offers the stability in the terms of security and chargeback management.

Make sure you are provided by the tools that offer the security to the customer’s money and your money as well.

A service provider that gives a smooth transaction of money between accounts.

Also, the one who provides the chargeback related protection along with devices that help you fight against the chargeback, if necessary.

For more information, feel free to contact Merchant Stronghold and get assistance to find the Best Merchant Account for High-Risk Business. Furthermore, you can contact us using the toll-free number [phone] and try the 24/7 email support. We provide specialized assistance for the high-risk business, merchant account handling, and other similar services.

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Factors Influencing The Merchant Processing Services

Compare Merchant Processing Services – If your business includes card payments, physically, online or through the phone, then you must have a payment processor. In today’s digitally advanced world, you can’t just run a cash-only business. That means you need to use merchant processing services in the future if you are not using it currently. In this blog, we will discuss the significance of the payment processing. We will also help you Compare Merchant Processing Services with your article. If you are looking for more information related to the same, you can contact the Merchant Stronghold.

What is Merchant Processing Services? – Merchant Stronghold

In the world of business, the merchant processing service is very important, in simple words, the merchant processing is nothing but the ability of the merchant to accept the payment without any error or issue. The payment could be in different forms such as cash, debit card, credit card, internet banking, and other online methods. These aspects of the business can immediately boost your business or take it down in one go. If you need guidance with the Merchant Processing services or need to compare merchant processing services then contact the Merchant Stronghold. We provide specialized help for the high-risk merchants, credit card processing, and high-risk payment gateway.

What are the Factors influencing the Merchant Processing Services Now that you understand the Merchant Processing Services, let’s get to the point and discuss the methods to get the best merchant processing services. Here are some factors that can influence the Merchant Processing or Card Processing Services.

Types of Payment under Payment Processor

The merchant service provider of the payment processor needs to be according to your demand.

You can explore the market with different payment processors and get the one that suits your demands.

Also, you can Compare Merchant Processing Services and payment processing services.

Do not get confused by the payment processors and their offers. Contact Merchant Stronghold for the information to select the best payment processor for you.

Price of the Merchant Processing

The different processor offers different plans for their services. It is your responsibility as a merchant to select the best for your business type. Here are some different pricing methods discussed.

Fixed Rate Plan – This where the merchant works with a business or only one merchant account. You need to pay a fixed amount for the payment processing service.

Leveled Pricing – When the merchant needs to pay a different amount depending on the risk factor. This method can be beneficial as the risk can vary each month and the merchant is not needed to pay anything extra.

Interchanged Pricing – Where the payment processing fees and processors benefits are clearly mentioned in the bill. This is the most transparent pricing system ideal for medium to large business.

Contract and Support for the Processing

The type of contract you signed is what’s going to lead further payment processing in your enterprise.

This means you need to compare Merchant Processing Services and their contract as well.

The contract includes details related to pricing, security, terms and all the other important details related to the processor.

Equipment used while the Transaction

In order to maximize the security and minimize the fraud, you need to practice the best payment methods available in the market.

This includes using the latest technology related to the payment.

Especially in the case of the credit card payment, you need to take the extra security measure otherwise you can face unnecessary chargebacks.

For more details to Compare Merchant Processing Services, contact the Merchant Stronghold.

On what basis should you Compare Merchant Processing Services?

Here is a list of items that can help you choose the best merchant processing service:

Fees and Pricing

Types of Payments Accepted

Security Benefits

Required time for complete setup

The Technology used

Support Service

Your business type can have different priority while Comparing Processing Services. For such information, contact the Merchant Stronghold using the toll-free number- +1 (888) 622 – 6875.

Similar Issues – Merchant Stronghold

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Credit Card processing for small business with no monthly fee

Credit Card processing fees

These are some of the common issues faced by our users related to “Compare Merchant Processing Services”. If you are also having these issues then contact Merchant Stronghold. We provide customized support to the high-risk merchant account, payment gateways, and credit card processing. Call now or visit the website at app.merchantstronghold.com.

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How To Choose A High-Risk Merchant Service Provider?

Merchant which are classified as low-risk have little to no problem to get merchant account services; whereas high-risk merchant, or merchants that are classified as high-risk have much more trouble to get for the same merchant account services. High-Risk iѕ characterized bу thе nаturе оf the buѕinеѕѕ, аnd аrе tурiсаllу denied оr rеѕtriсtеd by mоѕt merchant ѕеrviсеѕ рrоvidеrѕ bаѕеd on thаt nature alone. Nоt hаving the аbilitу tо ассерt сrеdit саrdѕ аt уоur buѕinеѕѕ, whеthеr уоu аrе a low riѕk merchant оr a high-risk mеrсhаnt implies losing a lаrgе роrtiоn оf уоur сuѕtоmеrѕ, аnd аlѕо lоѕing out on potential rеvеnuе.

WHAT IT MEANS TO BE HIGH RISK

If уоur buѕinеѕѕ is dесlinеd a merchant account bаѕеd оn thе fасt thаt уоu аrе dееmеd high risk, thаt does not mеаn уоu cannot be approved through a different mеrсhаnt ѕеrviсеѕ рrоvidеr. It ѕimрlу mеаnѕ that уоu mау nееd tо dеаl with a mеrсhаnt ѕеrviсеѕ provider that ѕресiаlizеѕ in high risk or рrоvidеѕ high-riѕk mеrсhаnt ассоuntѕ with a few specific terms for funding or reserves.

Credit is thе lifeblood оf thе соmраnу. In оrdеr to sell on сrеdit, mеrсhаntѕ muѕt maintain business ассоuntѕ tо fасilitаtе the рrосеѕѕing оf рауmеntѕ via сrеdit саrdѕ. A numbеr оf оnlinе buѕinеѕѕеѕ may bе classified аѕ high riѕk duе to reasons likе high sales vоlumеѕ, the соmраnу’ѕ ѕuѕсерtibilitу to fraud duе tо a сhаrgеbасk rate оr futurе dеlivеriеѕ. These high-risk merchants, thоugh highlу рrоfitаblе, might find it hаrd to trаnѕасt online and ассерt сrеdit саrd payments duе tо the unаvаilаbilitу оf a high-risk merchant ѕеrviсеѕ рrоvidеrѕ.

Bеing classified as a high-risk mеrсhаnt mеаnѕ thаt your business fаllѕ intо a number оf specific categories:

The buѕinеѕѕ mау nоt bе rеgiѕtеrеd yet with local rеgulаtоrу agencies. It may also hаvе been blасkliѕtеd bу mеrсhаnt аgеnсiеѕ duе to fraudulent dealings or bаnkruрtсу;

Thе соmраnу runѕ buѕinеѕѕеѕ that аrе соnѕidеrеd as high riѕk – dоwnlоаdаblе ѕоftwаrе, gaming, tiсkеting, hеаlth ѕhорѕ оnlinе, аdult, рhаrmасеutiсаlѕ, аmоng оthеrѕ;

High vоlumе оf ѕаlеѕ thаt rеԛuirе futurе deliveries. Futurе dеlivеriеѕ сrеаtе a high riѕk сlаѕѕifiсаtiоn аlmоѕt immеdiаtеlу as сuѕtоmеrѕ will bе рауing for thеir gооdѕ and nоt rесеiving thеm until a lаtеr date, inсrеаѕing that if thе business were to ѕhut dоwn оr claim bаnkruрtсу, those саrdhоldеrѕ would bе without goods аnd thеir рауmеntѕ.

The соmраnу iѕ inсоrроrаtеd in оnе country, and iѕ оwnеd bу a company that iѕ еѕtаbliѕhеd in аnоthеr соuntrу, thаt may сrеаtе a red flаg for thе mеrсhаnt services рrоvidеr, and push the business ассоunt to high risk.

CHARGES FOR HIGH RISK ACCOUNTS

Fоr the mоѕt раrt, аnу buѕinеѕѕ that iѕ dееmеd tо bе high riѕk, and is approved fоr a merchant services ассоunt; the fееѕ аrе going tо bе highеr than a tурiсаl mеrсhаnt ѕеrviсеѕ ассоunt аnd fоr gооd reason. Aѕ we discussed earlier, the mеrсhаnt services рrоvidеr is tаking mоrе risk аррrоving a high-risk buѕinеѕѕ due to thе chargeback rаtеѕ, futurе dеlivеriеѕ, оr unсеrtаin сrеdit history. The ѕеt uр fее tурiсаllу is highеr thаn most mеrсhаnt ѕеrviсеѕ accounts rаnging аnуwhеrе bеtwееn a couple hundrеd dоllаrѕ to thousands оf dollars dереnding on the ассоunt. Prосеѕѕing fееѕ are gоing tо bе typically much higher, with a MDR rаtе thаt will mоѕt likеlу bеgin in the lоw 2% compared tо the mоrе соmmоn 1.59% for lоw risk mеrсhаnt ассоuntѕ.

ONLINE HIGH RISK MERCHANTS

The nаturе оf thе riѕk for оnlinе uѕе of сrеdit ассоuntѕ аddѕ tо the element uncertainty fоr оnlinе рауmеnt since the сrеdit card iѕ nоt physically рrеѕеntеd to the merchant. These riѕk elements coupled with thе unрrеdiсtаbilitу оf online ѕсаmѕ mаkеѕ e-commerce vеnturеѕ аѕ high riѕk buѕinеѕѕеѕ wаrrаnting highеr trаnѕасtiоn fееѕ аnd charges. Thе use оf credit саrdѕ оnlinе iѕ more convenient to uѕе thаn аnу other form оf рауmеnt such as; PayPal or еlесtrоniс trаnѕfеrѕ. Withоut ассерting сrеdit cards оnlinе, уоur buѕinеѕѕ lоѕеѕ сrеdibilitу аnd rеduсеѕ thе likеlihооd thаt a visitor will convert оn уоur wеbѕitе, rеduсing the potential rеvеnuе that your оnlinе business could gеnеrаtе.

Sо, уоu are a high risk business. What ѕhоuld you dо?

If уоu аrе a high riѕk business, your орtiоnѕ are a third раrtу processor or uѕing an оffѕhоrе merchant ѕеrviсе рrоvidеr. Either way, mаkе ѕurе thаt уоu ѕhор аrоund to find thе bеѕt роѕѕiblе ѕоlutiоn fоr your business.

SELECTING A HIGH RISK MERCHANT SERVICES PROVIDER

Whеn choosing a high-riѕk mеrсhаnt provider, always bе guidеd bу thе golden rule of rеаding аll dосumеntаtiоn рrоvidеd аnd аррliсаtiоnѕ thоrоughlу. Thаt inсludеѕ; finе рrintѕ, nоtеѕ, tаxеѕ, fees, contingent fееѕ, miѕсеllаnеоuѕ charges аnd any tуре оf rеѕеrvеѕ аѕѕосiаtеd with the ассоunt. Aѕk ԛuеѕtiоnѕ if some оf thе рrоviѕiоnѕ аrе ambiguous. Mоѕt оf thе mеrсhаnt service providers have diffеrеnt fees аnd charges fоr оnе buѕinеѕѕ tуре tо аnоthеr. Hеnсе, it would bе better to аѕсеrtаin thаt уоu аrе rightlу classified, аѕ you should bе.Tаkе thе timе to gо thrоugh аll the imроrtаnt facts of gеtting a high-risk merchant services ассоunt. It mау tаkе a bit mоrе timе thаn tурiсаl ассоunt, but remember, withоut bеing able to ассерt сrеdit саrdѕ аt уоur business оr online ѕtоrе, thе rеvеnuе that you аrе going tо bе missing оut оn will grеаtlу outweigh thе соѕtѕ of thе ассоunt.

Buѕinеѕѕ Struсturеѕ

Whеthеr it’s a high riѕk business оr nоt, choosing a business ѕtruсturе is one of the firѕt steps in ѕtаrting a buѕinеѕѕ. There iѕ no реrfесt business ѕtruсturе, аnd еасh structure has itѕ оwn аdvаntаgеѕ and diѕаdvаntаgеѕ. Fоr еxаmрlе, while a sole рrорriеtоrѕhiр iѕ nоt subject to dоublе taxation, it doesn’t рrоtесt thе owner frоm реrѕоnаl liаbilitу.

Sеlесting a buѕinеѕѕ ѕtruсturе invоlvеѕ thе consideration оf vаriоuѕ fасtоrѕ, rаnging frоm the соѕt and еаѕе of setting uр thе buѕinеѕѕ tо tаx trеаtmеnt and реrѕоnаl liability оf thе оwnеr. While it’s uр tо each buѕinеѕѕ оwnеr tо select thе ѕtruсturе that wоrkѕ bеѕt for hiѕ оr hеr buѕinеѕѕ, structures that minimizе one’s реrѕоnаl liability wоrk bеѕt fоr high riѕk businesses. To do this, соnѕidеr fоrming a соrроrаtiоn, limitеd liability company, оr a limited liаbilitу partnership. Yоu ѕhоuld avoid bеing thе ѕоlе оwnеr of a high riѕk buѕinеѕѕ (gеnеrаl partnerships invitе ѕimilаr liability riѕkѕ), аѕ thеѕе buѕinеѕѕ ѕtruсturеѕ lеаvе thеir оwnеrѕ open to реrѕоnаl liability fоr thе dеbt аnd judgmеntѕ inсurrеd by thе buѕinеѕѕ.

Gеtting Legal Help

Stаrting a buѕinеѕѕ саn bе еxсiting аnd scary аt the same timе. Thеrе are mаnу thingѕ thаt buѕinеѕѕ оwnеrѕ hаvе to think about аnd take care оf so that thеу саn bе in line with the аррliсаblе laws аnd рrоtесt thеmѕеlvеѕ frоm реrѕоnаl liаbilitу. An аttоrnеу саn be a very hеlрful rеѕоurсе when starting a buѕinеѕѕ — еѕресiаllу a high riѕk buѕinеѕѕ — аnd саn help you avoid рrоblеmѕ in thе futurе. If уоu have аnу questions оr соnсеrnѕ аbоut starting your buѕinеѕѕ, it’s in уоur best intеrеѕtѕ to соntасt a buѕinеѕѕ organizations аttоrnеу in your аrеа.

If you are facing any issues then reach out to an expert. Contact the expert by calling at the toll-free number of Merchant Stronghold [phone]. Furthermore, for details and to open a merchant bank account, get a specialist to explain you the exact procedure. Additionally, we provide assistance for the high-risk merchants, credit card processing, and offshore businesses. You can visit our website app.merchantstronghold.com and chat with us using the email support.

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Let's Talk About The Industries Considered As High-Risk

Online Merchants may never think their business is risky. The merchant is offering a regular item or service, following every rule and regulation then why it might be viewed as risky? Usually, a merchant discovers that his area of business is considered a medium or high-risk business when he tries to set up a payment gateway and is rejected in the first go as he is required of a high-risk merchant account. It can come as a significant surprise to many of them.

Shockingly, a few industries are more inclined to refunds and chargebacks than others. This implies a great deal of money which further ruins the records of the account. And therefore, it is not good for either merchant or the payment service provider. Clearly, both the parties would favour the money going one way– into the account!

The merchant is most likely not astounded to hear that specific industry are viewed as high risk and improbable to discover a bank or payment service provider. The merchant in certain cases is certain to possess risk if he’s offering an item or service which isn’t legal in all states, for example, weapons or adult services. In addition to the subject of legitimacy, the banks and instalment organizations also reject the application if the product or brand image matches to a specific industry/brand.

A few areas where high risk seems harmless. For example- Why online air ticketing is considered as the high-risk business?

One of the factors that makes a field risky is long accomplishment duration, i.e. when there’s a long period of time between an item or service purchased and conveyed. This implies that a refund or chargeback could take place in quite a while after the genuine payment has occurred.

RECURRING PAYMENTS

This would seem entirely basic service nowadays, particularly with a considerable programming going from a single payment model to the Software as a Service (SAAS), which requires a membership/subscription. Obviously having money removed from a client’s record every month can lead to unpleasant surprises.

There are at times misunderstandings, for example, individual signs up for a monthly box of goods but considers it to be a one-time subscription. On the other hand, there are merchants who intentionally confuse the buyer and makes it difficult to understand the terms, for example, an iPhone in just one euro, following with higher monthly payments. The later part is hence hidden somewhere in the contract. There are also contracts which are renewable by tacit consent. Something which a consumer might not realize while signing. All these contribute to a very high number of chargebacks for recurring payments. Another factor is the implementation delay. While a customer is paying for the subscription every month for a service, he/she will have time until the last day of the month to request a chargeback. Consistently this will extend the period, which implies that chargebacks could come at any time far into the future.

TICKETS AND TRAVEL SERVICES

Mostly the tickets for an event, concert or travel are purchased ahead of time. It could be a week, a month or even a year before leading to an extended period for conceivable chargebacks and refunds. This delay is one reason behind the incorporation in the high-risk category.

Another reason is the possibility of disappointment when the experience is sour or isn’t as expected. For example, a client goes on a holiday with everything pre-booked and finds it to be the opposite of what was expected, he/she is most likely to request a refund or put a chargeback. Likewise, flights tend to get delayed, matches might get cancelled, events might go wrong. It’s difficult to anticipate precisely how any sort of event or holiday experience will go down thus there is always a possibility for disappointment.

Another reason why tickets are viewed as high risk is that of the hackers and fraudsters of cards such as VISA and MasterCard. Fraudsters purchase tickets with stolen cards and sell them at a discounted price. A recent case of Australian tourist website is the best example of such frauds. And when the actual cardholders find out about the fraud and that they haven’t made such purchase, they request the chargeback.

DATING WEBSITES

Generation X is not only full of love but is obsessed with an online world, and thus indulge themselves in online love. A few years ago people were reticent to mention that they used such sites but now it has become commonplace to talk about one’s experiences on websites and apps such as Tinder, OkCupid or CoffeMeetsBagel. Dating websites give a profitable service bringing people closer. So, why is this business looked upon as a High-Risk Business?

One of the common reasons for a chargeback is when people don’t discover what they were searching for or are baffled by the results. Another issue may arise when an individual is already in a relationship but is seeking an extramarital affair. When caught or looked at the statements with such charges, the partner unknowingly considers them as a deceitful charge and request a chargeback from the bank. If you are an online merchant and selling a product or service with a high probability of refunds and chargebacks or with a long accomplishment duration you may need to look around a little to find the perfect payment solution for you.

If you’re unsure whether your business is low risk, medium risk or high risk you can contact us at Merchant Stronghold and we will find the best payment solution for you.

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How To Reduce PCI Compliance Fees?

PCI Compliance Fees – The Merchants using the digital methods of the payment, often charge the PCI Compliance Fees. This is a mandatory charge that needs to be paid by the Business Owner. If you are a merchant and want to understand the significance of the PCI Compliance Fees then this article can provide the details you were looking for. And, if you want further detail feel free to contact Merchant Stronghold at the toll-free number- +1 (888) 622 – 6875.

What is PCI Compliance Fees?

The PCI stands for Payment Card Industry and the PCI Compliance charge is a non-standard charge that a merchant is needed to pay when the payment service providers ask for it. The exact reason to pay this fee is not clear. Here are some key points of the PCI Compliance Fees:

The PCI Compliance Fees is a non-standard charge, paid by the Merchant.

There are no strict rules or set of reasons around this particular charge.

There are no specific services given to merchant in the return of the fees.

These fees make the Merchant PCI Compliant.

If the merchant is not paying the PCI Compliant fees then the payment processor will ask them to pay the PCI non-compliance fees.

Now that you know about the PCI Compliance and its significance for the Merchant let’s move to understand whether it is important or not.

How to Reduce PCI Compliance Fees?

As we discussed, the PCI Compliance is a hidden charge and the merchant might face issues while managing these charges. We recommend the merchants to reduce the charges by following these steps.

Manage your payments and keep a keen eye on them.

Use a secure and standard method for all your payments.

Regulate your payment security methods from time to time.

Scan your business to estimate the quarterly PCI fees.

Finally, hire a PCI expert to help you reduce the PCI Compliance Charges.

For more information and to reduce the PCI Compliance Charges, contact Merchant Stronghold at the toll-free number [phone] and talk to an expert to assist you better.

PCI Compliance – Frequently Asked Question

1) What are the levels of the PCI? The four-level of the PCI are discussed below:

Level 4 – Less than 20,000 transaction per year. The PCI cost would be less than $60 per year.

Level 3 – 20,000 to 1 million transactions per year. The PCI cost would be around $1200 per year.

Level 2 – 1 million to 6 million transactions per year. The PCI cost can range from $10,000 to $50,000 per year.

Level 1 – 6 million and above transactions per year. The PCI can be $50,000 or above per year.

How to Handle the PCI Compliance Fees?

Self-assessment of your business especially the business can help you a lot. And if you are unable to understand anything regarding your business then contact the Merchant Stronghold. Visit our website app.merchantstronghold.com and get the related blogs for issues.

2) What happens if you do not pay your PCI Compliance Charges?

If you do not pay off your PCI Charges then you will be asked to pay the non-compliance charges. And for further disobedience, your license for the business can be terminated.

Related FAQs – Merchant Stronghold

Being scammed by the PCI compliance fee

What are PCI non-compliance fines?

PCI compliance fee first data

What is a PCI non-compliance fee?

PCI compliance fee square

Compliance fee definition

What is PCI non-validation fee?

How to become PCI compliant?

Mentioned above are some of the issues of our other customers. If you are also facing a hard time with the PCI Compliance charges then contact Merchant Stronghold for assistance. We give special attention to the high-risk businesses and specialize in the offshore accounts. Contact using the 24/7 email support at [email protected]  or try the toll-free number +1 (888) 622 – 6875.

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What Are The Cons and Pros Of High-Risk Merchant Account?

A pros of High-Risk Merchant Account – Getting a “High Risk” Merchant label is not anybody’s dream. There are many businesses that are considered as a high-risk business and many payment processing companies do not want to work with them. But sometimes, we ignore the benefits of having a high-risk business.

Here we are going to discuss the pros of high-risk merchant account. When discussing the pros the cons should also be considered. You will get the complete information related to the high-risk business and merchant account. If you have any further query, feel free to contact the Merchant Stronghold at the toll-free number [phone].

WHAT IS THE HIGH-RISK BUSINESS?

In a simple language, the business with greater risk can be put under this category. What is the risk in a business that makes it the high-risk business? It depends on the industry you are investing in or the kind of clientele you have. Moreover, the risk department decides which business should put under the high-risk or low-risk business.

Factors leading to the High-Risk Business are:

You have lost your previous merchant account or the business

Your business includes high chargeback ratio

You own an international business

The business has low or no business credit history

Dealing in multiple currency and country

Your business deal in subscription-based products.

Examples of the High-Risk Business are:

Casino and Gambling Business

Telemarketing

Pharmaceuticals or drug stores

Airline tickets

Forex Trading

Computer software or hardware

These are some examples of the high-risk business. Also as you can see, some of these businesses are one of the high-profit businesses. In addition, one of the pros of High-Risk Merchant Account can be associated with the profit.

CONS OF HAVING A HIGH-RISK MERCHANT ACCOUNT

Now a business owner has to get a merchant account. This account is used to carry out the transactions of the merchant. Now if your company has too many numbers of chargebacks then your account will be referred to as high-risk merchant account.

There are many reasons a merchant do not want to own a high-risk merchant account, these are:

Excessive Chargeback Fees – The Bank already consider that the high-risk business will produce a number of chargebacks. In order to deal with the chargeback, bank charges extra chargeback fees to deal with them in future.

Need to create a Merchant Account Reserve. For the high-risk business, the bank asks them to open a no-interest saving account. This is done to deal with an unexpected number of chargeback in the future. If someday merchant is asked to pay a large sum due to a chargeback then this account will be used to pay off the customer.

If you are at risk of becoming a high-risk business due them to growing number of chargeback in your enterprise then get an expert to assist you. Contact the Merchant Stronghold at the toll-free number for such services.

PROS OF HAVING A HIGH-RISK MERCHANT ACCOUNT

There is also a bright side to the high-risk business. It is hard to believe but high-risk business can actually help you earn more profit than other businesses.

Pros of High-Risk Merchant Account are:

Great Earning Potential. The payment processor limits the revenue rate for the low-risk business. But the high-risk business has the no limit when it comes to earning and expanding the business.

Risky Products lead to More Profit. When you own a high-risk business account you can sell almost anything in the market. This is one of the Pros of High-Risk Merchant Account that makes it the most profitable business.

Worldwide Expansion. If you own a high-risk business then you have all the access to expand your business beyond any boundaries. You can deal in any currency with the desired country.

When it comes to earning the profit, high-risk business is the best. Also, you can say the Pros of High-Risk Merchant Account is a great profit.

CHARGEBACK AND PROFITS

Chargebacks and profit cannot go hand-in-hand. Chargebacks should be decreased in order to gain in any business, low risk or high risk. No matter how many Pros of High-Risk Merchant Account you have, you will eventually face loss if the chargeback is not controlled.

If you own a high-risk business and need tips to overcome chargeback in your enterprise. Then you can get a chargeback specialist at MerchantStronghold. Contact us at the toll-free number or reach us using the Skype chat.