Apoorv Joshi
High Risk Merchant Account Services In USA
Merchant Services Helps to Overcome the Difficulties of Payment Gateway for Collections Account - United States . Here at merchant stronghold, we provide a quality payment gateway for your high risk business to reduce the expenses of processing credit card payment and in return maximizing the profit. To open such a merchant account, which can accept payment by credit...
The world is getting closer and closer to the day when we talk about online business and telemarketing. It has become far easier for customers to buy or order things online irrespective of their geographical location until and unless the merchant is high-risk account holder. The marketplace has extended beyond limits and instead of buying a shop/store and sitting there throughout the day to sell your product and services, all you need is a system with the website to market your product. Nowadays, you can buy things online or through telemarketing at your convenience, without wasting your time and be being present physically in the shop. Now let us understand the term telemarketing.
_Telemarketing Business
_
It is a method where you can market your product directly either over phone or web conferencing, which is scheduled on a call. In this marketing method, salesperson tries to convince prospective customers to buy a product or service that business is providing over the phone or during the conference. For operating such type of business and carry out financial transactions (where most of the transactions are carried out through credit card), business or merchant needs a merchant account.
_Merchant account
_
It is a type of bank account, which is required to conduct financial transactions by various methods; accepting payment through credit or debit cards or by other means. The merchant account is created under an agreement between the business owner and the issuer bank for the settlement of payment done via cards (card transactions). A merchant account is essential for high-risk merchants and is commonly called high risk merchant account. In other words, a high-risk merchant account is an account for processing credit card payments, where the issuer bank has classified the merchant or business as high-risked.
_High-risk Merchant
_
Next thing that comes to our mind is what is the meaning of a high-risk merchant. Issuer bank defines whether a merchant account or the business is high risk or not depending on the number of chargebacks and the type of industry. High-risk merchant in telemarketing business faces a lot of struggle in getting approval for a merchant account, but if they succeed in getting one, it will enhance the sales, as they will be able to accept credit card payment from their customers present all over the world.
_Advantages of merchant account service
_
If a merchant gets approval for a high risk merchant account, a wider range of support service is given to the merchant for a smoother and efficient workflow. One of the main services provided is virtual terminal. It is proven to be very beneficiary for high-risk merchants.
Once the merchant account is approved, a telemarketer will not only be able to accept the payment through credit card but also, do financial transactions telephonically.
It will help you bring the customers around the world under one roof as it will allow them to accept all the major currencies and credit cards.
We are providing the best payment gateway solution for your difficulties. Online merchant (small business or large-scale business) to accept payment in multiple ways according to its customer’s convenience. To open such an account, which can accept payment by credit card as well as a debit card is not easy. No matter how good your business is doing, you might still end up struggling to get a merchant account opened.
You might think that why your business is categorized as high-risk even when you are following the right track. The reason is the target audience and the niche of your business.** Some of the high-risk industries are (High Risk Merchant Business):**
• E-commerce stores
• A website dealing with digital content and steaming
• Travel and transport companies
• Companies dealing with multi-level marketing and direct sales
• Adult and dating websites
• Loan and financial businesses
• Companies providing supplements
• Crypto-currency
• Companies selling custom-made products
• Fast-growing companies
There are some other reasons for being categorized as a high-risk merchant business can be an excessive number of chargebacks, bad credit record, selling goods and services with high value, products open to the risk of fraud or a subscription-based business. These are the factors that make it difficult for you to get a high risk merchant account and to be able to accept online payments from debit or credit card, with a merchant service provider. Without high risk merchant account, you will stand nowhere and will lose to the competitors.
Right High Risk Merchant Service Provider: If you have a good business and if your business is categorized as high risk business, That does not necessarily mean that your company has to suffer. If your high-risk merchant account business is promising but this only limitation is not letting your business grow, All you have to do is find a right high risk merchant services providers that are willing to offer you the suitable services. The companies who provide services to high risk merchants account are called high risk merchant services providers.
Setup a collection merchant account: If you are setting up a merchant account to handle high risk has become easier with time and is a straightforward procedure. It might also be free of cost if you are using a reputable company. To get the account opened, all you have to do is fill an application form and submit the required paperwork. If you are new in the industry and have a strong business model and well capitalized, you don’t have to struggle a lot to find the right high-risk merchant account provider for your business.
Things that work for collection account:
• Quantity of chargebacks
• Crossing out installment or not paying them on time
Merchant Stronghold and its provide a quality payment gateway for your high risk business to reduce the expenses of processing credit card payment and in return maximizing the profit. For more information, you can simply call us on this number +1 (888)-622-6875 or Email us infor@merchantstrongohld.com.
It is a method where you can market your product directly either over phone or web conferencing, which is scheduled on a call. In this marketing method, salesperson tries to convince prospective customers to buy a product or service that business is providing over the phone or during the conference.
About High Risk Merchant Account Services
High Risk Merchant Services Provider in 2015, and 2016. Merchant Stronghold specializes in high risk and offshore merchant accounts.
Our all-in-one merchant accounts include everything that a high risk or offshore merchant’s needs to process successfully. Processing Includes debit and credit card processing, check processing (ACH), payment gateways, and charge-back management services. We help businesses to accept their payments from anywhere, as you are getting POS Machine services, Virtual Terminal, Online Settings to integrate that in your website so that customers can pay on there on. Our services are available via an easy online application. So click on the link and get yourself started NOW
High-Risk Specialists
We’ll get your high risk or offshore business processing right now with Merchant Stronghold’s fast processing system and keep your processing better than anyone else in the market. Here’s how
Merchant Stronghold can tangibly help your business:
High-Risk Credit Card Processing
High Risk Credit Card Processing is the leading provider of high risk credit card processing for high risk businesses. We help various high risk industries process credit cards, utilize high risk merchant accounts, and accept payments so you can put more money in your pocket without the hassle and additional fees. As high risk payment gateway professionals, our goal is to develop a personal relationship with our clients and to encourage prosperity and longevity for your business. Our priority is to earn your trust as we advise you in high risk credit card processing.
*Applying is Fast and Easy For Merchant Account
*
Our Onlne application is simple, easy, and can be completed in under five minutes. Once we receive your application, we will email you to confirm the information.
For a successful online business one thing which is very important is to carry out credit card transactions with fractions of seconds and securely. As this is a competitive world and customers are impatient, it is important for every online business owner to carry out credit card transactions quickly and in a secure manner so that the data is not misused. Having a high-risk online business brings the possibility of expanding the market nationally and internationally, and touching the global market. But to carry out such transactions; merchant needs a website design merchant account, which is essential to carry out financial transactions in a secure payment gateway for all the major currencies geographically.
This website design merchant account is considered as high-risk, because of which not a lot of processors offer high-risk website design merchant accounts. At Merchant Stronghold (MHS), the company works to provide highly secure websites along with prevention tools, which will provide security to your website to carry out transactions without hesitation at a reasonable price.
Benefits to get website merchant account through MSH. If you choose Merchant Stronghold for website design merchant account, the benefits you will get are:
Advanced merchant system has been in the fields for several years and is a high-risk merchant processing service provider with a complete knowledge and intricacies of the business. Our company guarantees to handle a project of any volume and domain. It also provides online merchant account, which is approved in less time and effortlessly. The main goal of MSH is to ensure that its clients are at a cost-effective side of the transaction and can make a maximum profit as a merchant or business. Being pocket-friendly, our company tries to keep our valuable clients away from excessive charges and do not implement any kind of restrictions on credit card processing and an overall turnover of the company.
Our highly qualified customer support department provides 24*7 services. So—feel free to call our team for any type of queries regarding website design merchant account services on +1 (888)622-6875 or email us at info@merchantstronghold.com
How did Technical Support Merchant Account Services work?
When I started my research for this business, I communicated with a number of people whom I thought might have some practice in managing such merchants, and what I heard from them didn’t precisely come as a surprise to me. Most of my contemporaries warned me that such businesses could be very difficult to work with — that their company practices were doubtful, that they could infrequently doctor the required paperwork, that their chargeback ratios were sky-high, and that customer objection levels were off the chart. “Where have I heard that before?”, I wondered, and my initial practice rapidly confirmed the authenticity of these warnings. However, I had the good fortune to quickly stumble upon a merchant who turned out to be hardworking, trustworthy and legit. He also ensured low levels of customer complaints and chargebacks. Equally important, the volume per month was extravagant— about $500,000 and still continues to grow.
Finding the best payment processing solutions can be difficult for tech support merchants operating internationally.
Whether you offer remote tech support assistance or in-office computer services, Merchant Stronghold provides customizable merchant accounts. For tech support businesses with Merchant Stronghold, you will be connected to a vast network of domestic, offshore and international acquiring banks that can approve you regardless of your geographical location.
Tech Support High Risk Merchant Account Fees
Our tech support merchant account fees are competitive and affordable, and our application process is free. Once our underwriting department matches you with one of our acquiring banking partners, the bank will then process your application and determine your merchant account fees.
Since banks determine fees on a case-by-case basis, we cannot provide you with exact fees until the underwriting process has been completed. However, you can contact us for your free quote.
How to Get and — More Importantly — Keep a Merchant Account Live
There was this particular merchant based in the U.S. and, by the time it contacted us, it had gone to some of the biggest U.S. processors to open several merchant accounts, a couple of which are still active. Now, this is one of the biggest mistakes that merchants must not make —opening several merchant accounts at once, and not keeping them live. If it’s done otherwise, processors get nervous and understandably so —the new Merchant Account You are applying dormant is either closed down or replaced. In the event, we asked our merchant to explain why it had gone through the pain of opening these many merchant accounts and received a satisfactory explanation, which is not a typical scenario. I should also add that the merchant had already received notices that its remaining two accounts would be closed within a month, which brings me to the next lesson — if you operate an online tech support business, the mainstream processor would not be a viable option — even if you do manage to get an account with them and keep it functioning, it is inevitable to keep it running. As soon as the processor’s risk department takes a close look at it, it will shut down in a second. What you need is a high-risk solution, although not necessarily an offshore one.
Merchant Stronghold’s Technical Support Checklists’
Merchant represents and warrants each of the following by checking it and signing below:
Merchant is engaged in the business of offering technical support services and has obtained, and throughout the term of the agreement will maintain all local, state, and federal licenses, registrations, and approvals required to conduct such business. All technical support services for which Merchant services charge any customer will be provided only by the Merchant, and will not be referred, re-directed, or outsourced to any third party.
Merchant understands, currently fully complies with, and during the term of the agreement, will fully comply with all relevant provisions of all of the following as amended from time to time: section 5 of the Federal Trade Commission Act, 15 U.S.C. §45;
The Telemarketing and Consumer Fraud and Abuse Prevention Act. 15 U.S.C § 601, et seq(“TCFAPA”) and all regulations implementing the TCFAPA including without limitation the Telemarketing Sales Rule, 16 C.F.R. §310.1, et seq.,
The Telephone Consumer Protection Act, 47 U.S.C. §227, et seq. (“TCPA”) and all regulations implementing the TCPA including without limitation 47 C.F.R§64.1200, et seq.;
The Electronic Funds Transfer Act, 15 U.S.C §1693, et seq.(“EFTA”) and all regulations implementing the EFTA including without limitation Regulation E,12 C.F.R. §1005.1, et seq.:
The electronic signatures in global and National Commerce Act, 15 U.S.C. §7001, et seq.; and all other applicable federal, state and local laws, rules and regulations including, without limitation, those referring, relating or operating to the foregoing, consumer privacy and protection, credit , lending, finance, usury, and banking, and with the Rules (as defined in section 1 of the Agreement)
Merchant will immediately notify MSH and Bank in writing of any inquiry, investigation, complaint, charge, subpoena, claim, request for information, judgment, injunction order, cease and desist order, any similar judicial, quasi-judicial, administrative, or executive order, or any license or permit revocation or cancellation by any local, state or federal law enforcement or regulatory agency, entity, or official in connection with or relating to Merchant’s business including withoutlimitation of any complaints, charges or claims against Merchant by any customers of Merchant or by any local, state or federal official.
In addition to the indemnity obligations set forth in the Agreement, Merchant will also indemnify MSH and Bank, harmless from and against any and all losses, costs, liabilities, damages and expenses (including attorneys’ fees and collection costs) resulting from or incurred in connection with any inquiry, investigation, complaint, charge, subpoena, claim, or request for information of or against Merchant, or against or involving MSH or Bank in Connection with Merchant,
by any local, state or federal law enforcement or regulatory agency in connection with or relating to Merchant’s business including without limitation of any complaints, charges or claims by any customers of Merchant or by any customers of Merchant or by any local, state or federal official. Merchant understands that MSH or Bank may terminate the agreement effective immediately in the event of any breach of this addendum or as otherwise set forth in the Agreement.
OTHER FRAUD PREVENTION INFORMATION RESOURCES
Here are helpful sources that can provide more information and assistance on avoiding credit card fraud in your high risk business.
Online
Phone
These Fraud Prevention Tips are not an amendment to your Merchant Processing Agreement, the Terms of Service, or the Merchant Operating Guide, governing your processing relationship with Merchant Stronghold. These Fraud Prevention Tips are provided to enhance your awareness of circumstances in which potential fraudulent activity may occur and offer suggested measures to combat, reduce, or minimize the impact of the acceptance of fraudulent transactions.
MerchantStronghold ™ facilitates online purchases from a merchant’s website and helps them to collect payment from the end customers through E-Check, Credit and Debit Cards etc. It is an intermediary that assembles the online payment options offered by various banks, And cash card brands onto a single platform with minimum technical integration with merchant website.
Merchant Stronghold Provide Merchant Services
Here are the key features of a CRM:
Building your own way online? Code your own road with Vantiv. We make it easy to test and certify everything. Just download one of our SDKs (PHP, Ruby, Java, .NET or Python). And for those of you who come through an existing cart, simply grab one of our third-party extensions (Magento or OpenCart).
Payment Integration API
We provide a test merchant to learn our API. Integrate our products into your software. Live assistance from our integration team. Test code integration with a payment gateway. Learn more about commission structures. View API SDK and code documentation libraries.
Partners in payments integration
With more than 200 partners from payment facilitators and presenters to online commerce partners, we’ve got all the good developer payment processing connections for easy payment integration.
4 Key Benefits of Payment Processing Integration
The payment processing industry has changed so much and becomes so dynamic in recent years, it can be difficult for merchants account and other small businesses to keep up with new standards and best practices. Although it might not sound particularly exciting at first, the integration between payment transaction processing and accounting software is, without doubt, one of the most important of those new standards.
Merchant Stronghold is the #1 High Risk Merchant Services Provider
About Merchant Stronghold: Merchant Stronghold is Headquartered in Clearwater, Florida. It provides credit card processing services for businesses of all sizes. Voted the #1 High Risk Merchant Services Provider in 2015, and 2016. Merchant Stronghold specializes in high risk and offshore merchant accounts. Our all-in-one merchant accounts include everything that a high risk or offshore merchant’s needs to process successfully.
High Risk Merchant Account: HighRisk Gateways always care about our merchant’s business as our business. We think and act like your business partners by serving high-risk credit card processing and eCheck/ACH processing. Opening a merchant account with Highrisk gateways is not.
Payment Gateway: For any online business, reliable and secure payment processing is critical. Merchant Stronghold provides world-class payment processing services for online businesses just like yours, providing a full suite of complimentary merchant services in order to drive maximum payment.
eCheck Payment Gateway: HighRisk Gateways is a well known trusted e-check payment gateway provider in the Indian market. HighRisk Gateways can place almost every Indian genuine business for E-Check, ACH or Check21. Which allow the merchants to add the e-check option in their various payments platform. Your business may be a high risk and high volume.
High Risk Specialists: We’ll get your high risk or offshore business processing right now with Merchant Stronghold’s fast processing system and keep your processing better than anyone else in the market.
International Merchant: HighRisk Gateways is an online international payment gateway service provider, specializing in e-commerce merchant solutions for high risk merchants. We accept merchants of all sizes and all risk types from low to high risk. Through our online secure, cutting-edge payment technology platform and our.
Here’s how Merchant Stronghold can tangibly help your business:
We Get You Approved: Our 12 processor relationships ensure 98.7% of accounts are approved and get you start your business as soon as possible.
We Get You Setup, Fast: Same day approvals & included gateway integration means you’re ready to take payments faster, without waiting for that big queue.
We Minimize Your Chargebacks: Our in-house chargeback management tools can lower chargebacks by 72%, so that you can concentrate only on increasing your business outcome, rather than having tension about your chargebacks.
Post and find classified ads for Earning opportunities,Business promotion,Marketing of product and services,Buy or sell stuff,full/part-time jobs and lot more. no Registration required.
Understand the Low Risk merchant
Low Risk Category before you apply it at the bank for a merchant Account because merchants in our payment processing world are categorized under low-risk, medium-risk, and high-risk categories. There are a number of points or reasons concerning which any business can be classified as Low Risk or high risk or medium risk Business and for an example while reviewing the business it is reviewed that how much risk is involved in the business, what is their risk level, which is the country wherein they got incorporated and their processing history etc.
Features of a Low Risk Merchant Account
Low Risk vs. High Risk Merchant Accounts
A high-risk merchant account provider, it is important to know if your business might be classified as high risk. There are many differences between a low risk merchant account vs. high risk merchant accounts business when it comes to setting up merchant accounts, so if you are not prepared you may find yourself having trouble getting the services you need. With this in mind, consider the differences between low risk and high risk companies and you will be better prepared to move forward.
Common Low Risk Industries
When you choose Merchant Stronghold for your Low Risk Merchant Account you get an Affordable, Point of Sale or E-Commerce Solution with Fast approval and you can start receiving payments from almost all major cards and from Checks as well. You not only get these things but you get a dedicated customer support and assistance for the desired growth of your business.
Low Risk Category before you apply it at the bank for a merchant Account because merchants in our payment processing world are categorized under low-risk, medium-risk, and high-risk categories. There are a number of points or reasons concerning which any business can be classified as Low Risk or high risk or medium risk Business and for an example while reviewing the business it is reviewed that how much risk is involved in the business, what is their risk level, which is the country wherein they got incorporated and their processing history etc.
Let’s Understand The High Risk merchant
When Merchant Business is established and applies for a payment gateway at the Bank, they get approved or disapproved from the risk departments considering the business to be high risk business or Low risk business. There are few reasons why any business can be considered as a high risk business.
Some of the risk factors that make a business HIGH RISK are as follow:
It is important to note, that this merchant account categorization is based on your business’ industry, regardless of your individual businesses’ track record. Additionally, the high risk category includes businesses who have been dropped by a previous credit card processor, businesses that are on the MATCH or TMF list, companies whose owners have bad personal credit or low credit scores, or merchant account businesses who are based outside the US.
Common High Risk Merchant Account Business Industries
A high chargeback history, a startup, or high frequency or high average tickets can be considered high risk on an individual basis, the majority of high risk businesses are labeled as such by the industry they operate in.
High-risk Industries Include: Document Preparation, Downloadable Software, Antiques & Collectables, Educational Software, Electronics Business, Extended Warranties, Auto Transport, Businesses with Bad Credit, Computer Hardware.
Visit Our Business Page for Find Out More Information We Can Help You Today! You can Call Us at +1 888-622-6875 or Send Us Email: info@merchantstronghold.com
How Did Technical Support Services Work?
When I started my analysis for this business, I communicated with a variety of individuals whom I thought might need some observe in managing such merchants, and what I detected from them didn’t exactly come back as a surprise to me. Most of my contemporaries warned Maine that such businesses might be very tough to work with — that their company practices were uncertain, that they might occasionally doctor the desired work, that their chargeback ratios were sky-high, which client objection levels were off the chart. “Where have I detected that before?”, I wondered, and my initial observe speedily confirmed the authenticity of those warnings. However, I had the great fortune to quickly stumble upon a merchant who turned out to be hardworking, trustworthy and legit. He also ensured low levels of client complaints and chargebacks. Equally necessary, the volume per month was extravagant— concerning $500,000 and still continues to grow.
Finding the simplest payment process solutions are often tough for tech support merchants in operation internationally.
Whether you offer remote tech support assistance or in-office computer services, Merchant Stronghold provides customizable merchant accounts. For tech support businesses with Merchant Stronghold, you will be connected to a vast network of domestic, offshore and international acquiring banks that can approve you regardless of your geographical location.
Tech Support Offshore Merchant Account Fees
Our tech support merchant account fees are competitive and cheap, and our application method is free. Once our underwriting department matches you with one amongst our effort banking partners, the bank can then method your application and confirm your merchant account fees.
Since banks confirm fees on an item-by-item basis, we cannot provide you with exact fees until the underwriting process has been completed. However, you can contact us for your free quote.
How to Get and — a lot of significantly — Keep a merchant Account Live
There was this explicit merchant based mostly within the U.S. and, by the time it contacted North American country, it had gone to a number of the largest U.S. processors to open many merchant accounts, some of that is still active. Now, this is often one amongst the largest mistakes that merchant should not create —opening many merchant accounts quickly, and not keeping them live. If it’s done otherwise, processors get nervous and intelligibly so —the new merchant Account you're applying dormant is either closed down or replaced. within the event, we tend to ask our merchant to clarify why it had sawed the pain of gap these several merchant accounts and received a satisfactory clarification, that isn't a typical state of affairs. I ought to conjointly add that the merchant had already received notices that its remaining accounts would be closed inside a month, that brings Maine to following lesson — even if you do manage to get an account with them and keep it functioning, it is inevitable to keep it running. As soon as the processor’s risk department takes a close look at it, it will shut down in a second. What you need is a high-risk solution, although not necessarily an offshore one.
Merchant Stronghold’s Technical Support Checklists
Merchant represents and warrants every of the subsequent by checking it and sign language below:
Merchant is engaged within the business of giving technical support services and has obtained, and throughout the term of the agreement can maintain, all local, state, and federal licenses, registrations, and approvals needed to conduct such business. All technical support services that merchant services charge any client are provided solely by the merchant, and cannot be referred, re-directed, or outsourced to any third party.
It is important to open a high-risk merchant account to carry out financial transactions especially if your business requires an online payment gateway through which you can accept payment by multiple payment methods. To acquire a high-risk merchant account, you have to first find a credit card processor, which meets your needs and provides you services at a reasonable price. When you apply for this account, you cannot get started by just filling an application form. The application (in turn your business) has to go through a wide analysis process. This process is called improper merchant underwriting.
What is Merchant underwriting?
When a merchant chooses a high-risk payment processor to process its payments, the two parties will sign an agreement, with this agreement being referred to as a financial contract. The underwriting process tends to be very stringent and is used to help determine how credible the merchant is in relation to its own credit card worthiness and business reliability; this process starts when a merchant puts in an application to obtain services from a payment processor.
All About Merchant Account Underwriting
Gathering this information is part of the high-risk merchant account underwriting process that each merchant account provider must follow for each new merchant account. A merchant account underwriter will look at how long you have been in business as well as your financial history. You will need to furnish information about your products and/or services as well as how you generally conduct business.
Merchant Underwriting Process
The merchant account is basically a line of credit. In case of chargebacks, the amount is deducted from the merchant's account, but if there are not enough funds in the bank to pay for chargeback then the provider pays that amount right away to the customer. So the essential part of underwriting is to evaluate the risk level of merchant’s business. Following are the things that provider review:
After Effects of Poor Merchant Underwriting
Your high-risk business may suffer from one or the other reason even without in-depth analysis and these are:
Incorrect Limit: You should set limits for your business as per requirement. It should not be too high or too low, as both the cases will end up in putting your business in a problem. Limits lower than required will hinder the regular processing of transactions that may constrict the flow of cash or timely payments from the customer, whereas if the limit is too high, this may lead to unexpected fraudulent charges.
Hidden Fee:An additional fee is charged if the volume exceeds the limit. However, even if you have set your limit, some providers let it exceed without notification and charge you with the penalty.
Downgrades: Once your high-risk merchant account is set, you are inclined to transaction downgrades if certain required features and security measures are not set along with the account. Although, setting up these features will cost you more, but will help you in long run and enable smooth processing of transactions.
For many small businesses that accept credit cards, chargeback is way costlier but there are ways where you can protect your business against those unfair chargebacks. Before going further, let us understand what is a ‘Chargeback’?
Chargeback
A chargeback happens when a customer after purchasing a product, contact to his/her card issuer to dispute the charges. In simple words, when a customer purchases a product and due to some reason disputes a charge with his/her bank, the money is returned to that customer as well as he/she gets to keep the product. But the bank charges the business owner, from whom the product was purchased. This payment, which the business owner gets to pay to the bank, is called the chargeback.
Here are few tips that can help you prevent chargeback and minimize the time and money spent while dealing with it. Being business owner you should understand that disputes could be considered valid due to many reasons. Customer may dispute charges if:
Declined authorization: If the authorization request is declined once, do not go ahead with that particular transaction instead ask customers to opt for different payment method. Also, keep in mind not to request multiple authorizations for a particular transaction.
Authorization code: There will be cases when word “Call” is displayed on your terminal while authorization is being checked. At this point call the credit card company right away. The representative will ask you a few questions and may speak to its customer as well. After that he/she may or may not provide you with an authorization code. If the authorization code is provided, record it else request the customer to try a different card.
The system not working: There can be cases where the system is not functioning properly or the card is worn out. At this point, you should key-enter the credit card number, and also remember to make an impression of the card for keeping the record. This is important because a customer’s signature is not enough to protect you from a chargeback.
Gift card: Gift cards are unembossed cards and there is no way to take a manual imprint of it. In case customer wishes to pay by gift card it is advisable to ask the customer for a different payment method.
Signature: Regardless of the type of the card used for the payment processing, the signature of the cardholder on the receipt is mandatory. This can be used as a proof that the customer made the purchase himself.
Swipe only once: You should swipe the card only once to avoid duplicate transactions, which can lead to a major chargeback. If such situation arises, write “VOID” in bold letters on the customer’s receipt and tear it in front of the cardholder.
Record keeping: To avoid duplicate transaction chargeback, make sure that you deposit only one copy of sales receipt. Be cautious about recording sales; do not record the same transaction more than once.
Clear communication: Clearer is the refund and return policy, better will be the communication and it will protect you from chargeback as well. As far as refund policy is concerned, it is better to print it on the receipt directly. If not possible, stamp it near customer’s signature.
Receipt deposit: To avoid chargeback, deposit receipts as soon as possible. Make it a point that all the receipts are deposited within a day or two.
Cancellation request: It is a good practice to honor all customer requests to cancel recurring billing and provide them with a written statement for the same with a date on it. Delay on it can put you at risk for a chargeback.
Unexpected Delay: If, due to any reason, there is a gap between the time payment was made and the time when the product was delivered, it is advisable to inform the customer about the same in written and if possible, also let the customer know the new expected date.
Out of stock: If in case, the product is out of stock or unavailable due to any reason, it is important to intimate the customer about the same and asks them whether they would like to cancel the order or would like to purchase another item instead. Keep in mind that without customer’s permission do not send any substitute product. This will help in reducing chargeback risk.
Shipment: Never deposit the money you have charged from a customer before product being shipped to the customer. Streamline shipping process in order to get the product out to the customer as quickly as possible. There are chances of a customer getting upset about paying before receiving the product.
If you are running a business that deals with sales and purchases, there might arise situations where you need to choose a new credit card processor, but it is not as easy as it seems. It is a big decision and before making a final call you should be aware of certain things, like Fee charged and contract, customer service department and cost-effective tool. Do the comparison, study the market and then make the final decision. Let us now discuss the 3 questions you should ask your new credit card processor before finalizing it:
Structure of Fee Charged
When you opt for such tools, you are charged with a certain amount of fee, but it is important to know what exactly those fees are, more commonly called breakage of the fee. The fact is that most of the high-risk merchants have no idea about the process and end up paying a high amount of fee without actually knowing the hidden high markups in their pricing structure. To process the transaction, an interchange part of pricing structure is paid to the card issuer. Apart from this, there is an extra fee that they put on the top of it to gain more profit. So, when you are applying for new credit card processor/merchant payment processor, request them to separate out the interchange fee so that you can have a clear idea about how much money they are making or charging you in total.
Contract and Time Duration
Whenever a merchant wants to opt for a new credit card processor, he/she needs to sign a contract, which will lock you with them for certain period of time. It is important for high-risk merchants to check for options when shopping around for new processor and also to finalize the processor with shorter time duration instead of multi-year contracts. The advantage of choosing a short-term contract is:
They will work hard for your business to impress you so that you renew the contract instead of shopping for new credit card processor or merchant payment processor once the contract expires. If you end up signing a multi-year contract, you will soon be forgotten and ignored and service quality provided may deteriorate.
If any serious problem arises and you have a short-term contract or non-existing contract, immediate help will be provided to resolve the issue so as to retain you as a customer, whereas, if you have a long-term contract, it might take some time to resolve the issue you are facing.
If you are not happy with the services provided to you by your current credit card processor, you can try out the new processor, which can meet your needs, but if you have a long-term contract, you have no option than sticking with the same provider until and unless your contract expires.
Customer Service Department
Efficient and knowledgeable customer service department is like icing on the cake. Get the opinion of the current customers of the credit card processor and find out about their experiences with the customer service department.Look for the processor whose,
Support representatives are knowledgeable and can tackle any kind of issue if arises.
Call waiting time is minimum
Support representative should be able to resolve issues in the first call and in shortest time duration.
If you are lucky enough and end up buying a credit card processor or merchant payment processor for your high-risk business that fulfills all your needs and the fee charged is worth every single penny you pay, hold on tight to it and never let it go. If you are happy with the services provided and the fee charged, it would be a good decision to renew the contract with the same provider than starting the process all over again.
It is important to open a merchant account to carry out financial transactions especially if your business requires a payment gateway through which you can accept payment by multiple payment methods. To acquire a merchant account you have to first find a card processor, which meets your needs and provides you services at a reasonable price. When you apply for this account, you cannot get started by just filling an application form. The application (in turn your business) has to go through a wide analysis process. This process is called merchant underwriting.
A team of high-risk analysts or an individual analyze your business to find out any type of risk, and according to this analysis your application is either approved or rejected. This whole process might take a day or two, depending on the provider you choose. There are alternatives to this, which will take lesser time for approval, as those alternatives do not require underwriting, but they have their own drawbacks due to which they are rarely recommended.
Merchant Underwriting Process
A merchant account is basically a line of credit. In case of chargebacks, the amount is deducted from the merchant's account, but if there are not enough funds in the bank to pay for chargeback then the provider pays that amount right away to the customer. So the essential part of underwriting is to evaluate the risk level of merchant’s business. Following are the things that provider review:
Industry Type: Risk is involved with every kind of business but the level of risk varies from business to business. Few businesses are less inclined to fraud and chargebacks as compare to others. Higher the level of risk, higher the amount of documentation is required.
Return Policy: Businesses that are involved in shipping products are riskier because there are chances of the products not being delivered, wrongly delivered or delivered broken that might result in chargebacks.
Business History: If you are not new in the market and have applied for the merchant account, underwriting will involve reviewing of your credit history as well as chargeback history (to know chargeback ratio) before approving or rejecting your application.
Card Acceptance Method: Provider will like to know about merchant terminated file if your business has been or still is on it. Most of them will evaluate current statement to get a fair idea of volume and acceptance methods. In case the application is approved, business accepting telephonic orders or online orders is taken into consideration for added features and more security measures.
Processing Limit Request: Depending upon your requirement of regular processing, limit of your account should be set up. If there is no requirement for high limits, do not settle with such account. The provider should set your limits at a medium level that would allow processing on a regular basis not leaving much room for fraudulent charges.
Financial Stability: To check the financial stability, underwriting may include your bank statement and credit. This is very important for the businesses while applying for a new merchant account, as it directly affects the decision of underwriting approval.
After Effects of Poor Merchant Underwriting
Your high-risk business may suffer from one or the other reason even without in-depth analysis and these are:
Incorrect Limit: You should set limits for your business as per requirement. It should not be too high or too low, as both the cases will end up in putting your business in the problem. Limits lower than required will hinder the regular processing of transactions that may constrict the flow of cash or timely payments from the customer, whereas if the limit is too high, this may lead to unexpected fraudulent charges.
Hidden Fee: An additional fee is charged if the volume exceeds the limit. However, even if you have set your limit, some providers let it exceed without notification and charge you with the penalty.
Downgrades: Once your high-risk merchant account is set, you are inclined to transaction downgrades if certain required features and security measures are not set along with the account. Although, setting up these features will cost you more, but will help you in long run and enable smooth processing of transactions.
For any E-commerce site, to accept payment by multiple means you need a proper payment gateway and a merchant account that supports your needs. Without a merchant account, you will not be able to accept payment via credit card or debit card. If you are looking forward to spreading your business worldwide, it is important to have the capacity to process such payments.
Nutraceutical products (commonly known as Nutra products) have formed a billion dollar market. Business dealing in such products is categorized as high-risk business and most conventional banks and merchant processors will not provide services to companies like this.
Benefits of Merchant Services for Nutra Product Sales
Some merchant account providers specialize in high-risk merchant account but charge a higher fee for certain accounts. There are few providers who offer customized end-to-end payment solutions, which are more beneficial for the merchant as compare to others. Some also offer to process for numerous currencies. For these and other reasons, it’s best to do very systematic research of merchant processors that offer merchant accounts for Nutra deals.
Several benefits of using a merchant account for Nutra product sales are:
Payment acceptance through various means: If you want to grow your business it is important to accept payments by multiple means. Customers feel comfortable if they can pay or choose the payment option as per their choice and convenience, for the products or services they require.
Acceptance of all type of credit cards: If you have a payment processor that works with all credit cards, the merchant can deal with people and companies all over the world and expand their business.
No volume limit: Merchant service provider can provide you with a payment system that does not restrict you from making business deals and financial transactions. A system where you can carry out transactions without any interruption or issues.
Extra benefits provided by some of the merchant account providers:
How to Shop for Merchant Services
Despite the fact that there are more choices nowadays in the card preparing industry, finding the correct processor can be challenging. You will require one that addresses your organization’s issues, but that can take some time and legwork. Discover what different administrations they are offering, for example, online installment doors. You can also inquire whether they handle things like various monetary standards. Discover a processor that can make different Nutra deals and shipper accounts accessible to your organization.
How to Get a High Volume High-Risk Nutraceuticals Merchant Account
Getting a high limit high-risk nutraceuticals merchant account isn’t easy. Presenting your business in the best possible light from point of the first contact is important because merchant accounts are essentially a line of credit from a processor. Once a high-risk Nutra merchant account is approved, payment processors set monthly processing limits. These limits are typically between $25,000 and $100,000 per month. DigiPay knows how to navigate the high-risk nutraceutical payment processing space and has developed exclusive partnerships that allow for our qualified nutraceutical merchants to process high dollar volumes. Our risk management team works closely with merchants and sponsoring banks to shorten trial periods and raise processing limits. Most nutraceutical companies that maintain a stable, consistent performance throughout their initial trial periods can increase their processing limits.
Instructions to Work with Conventional Merchant Services Providers
Pay organization bills on time and keep financials in order. Give clients great services and make returning items simple and convenient. Nutraceutical related merchants who give genuine items at reasonable costs could hope to remain in business and expect outstanding income. Search for long-term solutions for your Nutra deals here.
For more details, call our representative on +1(888)622-6875 or email us at info@merchantstronghold.com
Merchant Stronghold provides credit card processing gateways that are tailored for your direct marketing business. Grow your Direct Marketing business by providing multiple payment options to your customers.
Efficient Front-end Systems and Credit Card Processing Gateway to integrate with Stronghold’s gateway API and be able to provide instant successful transactions are important, especially for a Direct marketing System. Stronghold’s credit card processing gateway not only accepts payment but also compiles reports so that merchants can keep records of transactions. Many companies these days promise to deliver these efficient systems, but most of them focus on providing fancy systems rather than better security. Merchant stronghold on the other hand not only have the most secure and solid gateways available but also close all loopholes that can harm payment system of your direct marketing business.
Rather than using physical terminals, your customers can use secure online gateways for making transactions. There are many advantages; business gets daily batch reports, multi-batch reports, decline reasons, successful transactions, refunds, sorting last 30 days transactions, and much more. All these can be done using your personal or business computer. The Gateway also captures the IP Address and reports it in the system using the iSpyFraud Technology.
Online Payment Gateway
Our virtual gateways can make credit card processing money saving, which means your business pay less amount to process transactions. Merchant stronghold makes sure that every transaction is secure. In order to provide better direct marketing gateways, we have set ourselves apart from our competition. We offer services that are tailored to your business – A glimpse of our methods:
Safe and Secure Processing: All the credit card processing transactions go through multiple secure servers means no data is stored on your business computer. This makes direct marketing processing safe and secure.
Customer Support: The first thing that any business should focus on is better customer support. Our team is available to help you deal with any payment issue. You can contact us and discuss issues and they will be resolved timely so that your direct marketing business thrives.
eChecks: Gateway allows you to accept checks too! Accept Credit Cards and eChecks in the same Gateway.
Flexible Settlement Times: The business can customize or set a certain time for the transactions to be batched out and be sent out for settlement.
Multiple User Access: Our direct marketing credit card processing gateways give users multiple options. Your customers get email receipts at the time of processing. This ensures that transaction is authentic and quick. All the records are kept for future references.
ISpyFraud Technology: ISpyFraud Technology helps to monitor and capture customers IP address at the time of the transaction. Geo Locations and IP Address helps reduce online fraud and is the first choice for a direct marketing business when it comes to accepting credit cards. Don’t let your merchant face the risks of accepting payments without adequate protection. Get in touch with our to learn more about how to help your customers guard against fraudulent transactions.
If any of your transactions are face to face, then you are not providing enough options to your customers. We can offer your customers easy and reliable options that will suit their payment method. Ever transactions made through our systems will be safe and your customers will get notification of their recent transaction. What is the best part of all this? You are paying less money and getting premium credit card processing gateway.
How to sign up for getting your merchant account?
It is quick and easy! Start an online application or call one of our merchant specialists will walk you through the process. We offer various services and based on your requirement, we will provide a payment solution that will best suit your direct marketing business.
A website must leave a positive impact on the viewer, and with years of experience, we design such sites that leave no stone unturned in order to attract the viewer and get success to your high risk business. our design team builds full responsive, user-centric, clean and w3c, CSS validated sites that are both beautiful and successful.
Your high risk website is the most important component of your company’s marketing plan. It’s the central hub for your messaging and content marketing efforts. All other marketing materials should support and drive traffic to your website. As a website design and development technology has progressed over the years, you now have more digital marketing tools than ever before.
We work with you to develop a user experience which delivers value to your audience. Value means repeat visits and referrals via social media and other channels. Using our years of experience and research, Wood Street’s web design and development solutions are customized to help you achieve your digital marketing goals.
WEB DEVELOPMENT
We are passionate about designing and developing meaningful and functional websites with a strategic approach. Direct Services Marketing is your one-stop-shop for a complete web design solution. We can provide work from scratch, re-design and update your current website, or simply from a simple tailor need in terms of designing and branding your company, products & services with a fully functioning website.
ECOMMERCE WEB DESIGN
Profitable ecommerce websites center on organized product catalogs, easy merchant account access and shopping carts that are easy to use. Our designers work with you to ensure your visitors experience a seamless shopping experience and become loyal customers.
MARKETING WEBSITE DESIGN
Successful marketing sites are designed to increase traffic, encourage engagement and convert visitors. The Orbit design team will transform your marketing goals into an optimized marketing site that maximizes the impact of your brand.
SOCIAL MEDIA MARKETING
Our Social Media Team will help you to interact professionally and cleverly with your audience. Interaction Social Media is gaining weigh in terms of reputation, brand representation, and effort marketing. Promotion, novelty, reviews, and customer’s engagement are the most important thing to plan for a Social Media Marketing.
SEO SEARCH ENGINE OPTIMIZATION
Our Marketing effort on growing your business’ visibility on the internet is abrupt & we dispose of a technical and creative team to help you increase your rankings. We bring you traffic by using powerful tools and techniques like Keywords, Analytics, and great Content strategy. Our SEO approach is ultimately looking to attract more visitors and gain popularity between the search engines like Google, Bing, Yahoo and others equally important.
ISO Partnerships
The types of programs offered to ensure that you find a program to fit your needs and objectives. You’ll find we’re an excellent choice—for one simple reason. You don’t have to fit your business into our system—we fit into yours. We offer our ISOs the flexibility to build and grow their high risk business. Participate in a proven, multi-pronged operation with unlimited profit potential. We provide marketing tools, resources, and support to sell Merchant Stronghold products and services within your market.
ISO Partnerships Features
Potential ISO Partnership Program Benefits
Overview
Due to the amount of time between when a product is sold over the phone and when it’s actually delivered to the customer, telemarketing is commonly considered a_ high risk business_ type. The marketplace has extended beyond limits and instead of buying a shop/store and sitting there throughout the day to sell your product and services, all you need is a system with a website to market your product. Nowadays, you can buy things online or through telemarketing at your convenience, without wasting your time and be being present physically in the shop. Now let us understand the term telemarketing.
How does a telemarketing Company apply for a Merchant Account?
Applying for a merchant account, for your telemarketing business is quite a simple process. We do consider the following:
Open a merchant account through a high risk merchant account provider. High risk providers specialize in hard-to-place business types and often have offshore banking relationships that enable them to serve merchants that are considered “high risk.” They may charge higher-than-average rates for their service, but they can also be a valuable resource for businesses that otherwise have very few options.
Merchant account: Merchant account is created under an agreement between the business owner and the issuer bank for the settlement of payment done via cards (card transactions). A merchant account is essential for high-risk merchants and is commonly called high-risk merchant account. In other words, a high-risk merchant account is an account for processing credit card payments, where the issuer bank has classified the merchant or business as high-risked.
High-risk Merchant: High-risk merchant in telemarketing business faces a lot of struggle in getting approval for a merchant account, but if they succeed in getting one, it will enhance the sales, as they will be able to accept credit card payment from their customers present all over the world.
Advantages of merchant account service
If a merchant gets approval for a high-risk merchant account, a wider range of support service is given to the merchant for a smoother and efficient workflow. One of the main services provided is virtual terminal. It is proven to be very beneficiary for high-risk merchants.
Once the merchant account is approved, a telemarketer will not only be able to accept the payment through credit card but also, do financial transactions telephonically.
It will help you bring the customers around the world under one roof as it will allow them to accept all the major currencies and credit cards.
Merchant account services worth high quality can be provided to you by Merchant Stronghold irrespective of your geographical location. Business owners from various countries are opting for our services regularly. For processing credit cards, merchants don’t need to depend on a single merchant account; our international banking partners are always there to help our customers.
International Merchant Accounts
Offering multi-currency payment solutions to international customers can help a business boost their bottom line in a very short amount of time. An international merchant account not only allows your business to reach new markets and increase sales but provides your customers with a familiar and seamless shopping experience. Our huge network of international merchant accounts includes
Merchant Services: Merchant services is a broad category of financial services intended for use by businesses. Merchant service providers typically require the merchant to have a merchant account with the provider, either directly or through a referral partner, such as banks service. When it comes to serving global businesses, a wide range of merchant accounts are offered by Merchantstronghold. Your business requirements are bound to find the right solutions from online merchant account, MOTO, and retail merchant account services. Besides providing offshore and international merchant accounts to e-commerce merchants, we also serve them with merchant accounts that fall under high-risk and low-risk categories.
Payment Gateway Services: When you buy something at the store and you go to the counter to pay, a store clerk processes the transaction on a cash register (or maybe even a mobile device like a smartphone or tablet), which functions as a point of sale (POS) terminal. The same sort of thing happens when you buy a movie online using your credit card, except the entire process is completed virtually through a software service called a payment gateway. Our virtual terminal can be accessed by you without any extra cost once you qualify as a Moto merchant. It will enable you to accept credit cards through mail orders or via phone calls. Know more about the payment gateway provided by Merchantstronghold.
Credit Card Processing Services: Merchantstronghold offers a variety of credit card processing services alongside multiple merchant accounts. China UnionPay, American Express, MasterCard, Diners Club, Visa Electron, Discover, Visa, and JCB are a few of the major banks that can provide you with credit cards. Payments received in a little over 160 currencies can be processed by merchants. Euros, GBP, and USD are some of the most used currencies. You must acquire more information on the credit card processing services.
Shopping Cart Services: When it comes to making your e-commerce website more user-friendly, you’ll need to identify the right shopping cart. Our Merchant Stronghold payment gateway works well with 40 shopping carts that are quite popular. PrestaShop, Magento, Zen Cart, X-Cart, and osCommerce are a few of the shopping carts that have gained much popularity in the recent times. The payment modules included by Merchant Stronghold shopping cart services for each of these modules are free. Acquire more knowledge on our shopping modules and carts.
Merchant Stronghold have its Head quartered in Clearwater, Florida. It provides credit card processing services for businesses of all sizes.
