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Updated by Apoorv Joshi on Oct 05, 2019
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Apoorv Joshi Apoorv Joshi
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Merchant Services

1

Improve Merchant Statistics and Reduce Fraud Levels

Improve Merchant Statistics and Reduce Fraud Levels

Recommendations to Improve Merchant Statistics Below have listed recommendations that could help to reduce fraud level. Merchant must provide an activity plane to reduce fraud levels by the payment system. On the off chance that the merchant doesn't successfully lessen reduce fraud level Risk and Compliance department will close merchant traffic. To avoid penalties and disqualification, Merchant must survey its business processes. The following are recorded suggestions that could reduce fraud level.

Here are some guidelines for preventing Internet, telephone or mail order fraud:

*Request that cardholders provide the following information during the order taking process:
*

  • Cardholder Name, exactly how their name appears on their card.
  • Card Number
  • Card Expiration Date, four-digit number MM/YY.
  • CVV (Card Verification Value) and/or CID (Card Identification Data) for some regions, the three-digit number located on the back of the card in the signature panel.
  • Card billing address along with the ship-to address (when necessary).
  • Home, business or other telephone numbers where the cardholder can be reached.

For each transaction, be sure to:

  • Request and validate the CVV (Card Verification Value) and/or CID (Card Identification Data) for some regions, the three-digit number located on the back of the card in the signature panel.
  • Verify the customer’s billing address, either electronically or by our address verification service (AVS).
  • Verify the cardholder name, full billing address, email address and phone number with the Issuer in real-time using.
  • Check your delivery service contract for who is responsible for merchandise not delivered.
  • Get a signature for each delivery and keep all delivery records.
  • Do not keycard information to force through a sale for which you have received any declined response to your authorization request.
  • If the sale is on a credit card, refund sales on the same card.
  • Include your common DBA and customer service number on the customer’s transaction receipt.
  • Clearly communicate any and all delivery charges, restocking or other fees.
  • Clearly explain any return policies and offer documentation of this policy with each sale.
  • When working on a chargeback, document efforts to satisfy the customer. Be sure to respond to all chargebacks.
  • Duplicate charges, or installment plans, unless otherwise stated, require an authorization for each sale.

Protect Customer Information on my Website?

  • Protecting Customer Information
  • Truncate all credit card information.
  • Do not store any CID data in your records or on any type of sales data.
  • Secure your site. Data MUST be stored in a secure environment that is protected by firewalls from your Website or access over the Internet. This data should be password protected with limited authorized use.
  • Do NOT store any customer or credit card information on your Web Server.
  • Please refer to your Merchant Operating Regulations for further Card Not Present (CNP) requirements with respect to the submission of sales.
2

Few Important Merchant Responsibilities and Pricing

Few Important Merchant Responsibilities and Pricing

Have you ever seen all the pricings on your Merchant Account Agreements and asked what they mean? Online Business must always read and understand the terms and conditions for their payment gateway. Merchant Stronghold explains pricing schedule of fees:

Tiered pricing
ERR Pricing (Enhance Recover Reduce)
Pass-through interchange pricing
Pass-through Pin Debit

Tiered pricing: Tiered discount pricing allows you to group interchange programs into different tiers “buckets” and then price those buckets separately based on the range of interchange costs grouped into each bucket.

ERR Pricing (Enhance Recover Reduce): Pass non-qualifying interchange costs to merchants. Using err, you have the option to assess a surcharge to the merchant’s downgraded sales volume. The surcharge is a client-defined percentage that is applied to the downgraded sales volume of participating merchants.

Pass-through interchange pricing: Using interchange passes through allows the expenses associated with interchange fees and dues and assessments to be billed directly to the merchant. If you are using interchange pass through plus, a sale transaction fee and/or a percentage rate would be assessed against the monthly volume and would be billed to the merchant along with the dues and assessments and interchange fees.

Pass-through Pin Debit: Allows you to pass through PIN debit network fees to the merchant. In addition to passing the network fees to the merchant you need to bill a per item charge, a percent on the volume, and a monthly flat rate debit access fee.

IMPORTANT MERCHANT RESPONSIBILITIES

  1. Ensure compliance with cardholder data security and storage requirements.
  2. Maintain fraud and chargeback below thresholds.
  3. Review and understand the terms of the Merchant Agreement.
  4. Comply with Visa Operating Regulations. (Go to www.Visa.com, select Small Business and Merchants, select Operations and Risk Management, select Rules for Visa Merchants)

The responsibilities listed above do not supersede terms of the Merchant Agreement and are provided to ensure the merchant understands some important obligations of each party and that the Visa Member (Acquirer) is the ultimate authority should the merchant have any problems.

In order to comply with all Visa and MasterCard regulations governing Internet Credit

Card sales, Merchant Processing Bank requires that you will not accept credit card transactions through your website and/or e-mail and then manually enter them into your POS equipment or software. You must obtain a separate and secure e-commerce merchant account to accept credit card transactions for products and service purchased through a website or the internet.

3

How Do You Get Off the TMF/Match List?

How Do You Get Off the TMF/Match List?

Match List of Merchant Accounts

It is true, but there is such a thing as a merchant account blacklist. It’s actually known as the MATCH list or “Terminated Merchant File,” (TMF for short). The Terminated Merchant File is a shared online list among processors and acts as a blacklist scrubber, where merchants with high risk accounts or excessive chargebacks [www.chargebacksecurity.com] and/or terminated for violation of agreement are put on the list and prevented from opening an account with a different credit card processor.

Few Reasons - Merchants could be put on it Match list

  • Excessive Refunds and Declines
  • Illegal-Product or Advertisement
  • Merchant Collusion
  • Fraud
  • Adult or Porn or Escort Endorsement
  • Violation of Terms of Merchant Agreement
  • Excessive Chargebacks
  • Terrorist Activity
  • Money Laundering
  • Wrong MCC code Service/Product
  • PCI Data Security Standard Noncompliance
  • Identity Theft
  • Bankruptcy/Liquidation/Insolvency

By far the most common reason for termination amongst Trial Continuity and Subscription Type of Business, The merchant deposited sales that were not authorized by cardholders; most typically in a card not the present environment with recurring charges.

Why Put the Merchant on the Match List - How do to get Off

Merchant’s - Merchant Acquiring Bank. In order to get off the MATCH list, the acquire who put you on it is the only one who can remove you. Merchants are placed on this list because they were found to have violated their credit card processing agreement at some time. Due to this breach, these merchants had been terminated from being allowed to have a merchant account. The master match list is used as a screening tool by other credit card processing companies to see whether or not a business is suitable for a merchant account. Being on this list raises a red flag to merchant processing companies that this company applying for the account may be a high risk.

It is not impossible to get a merchant account if you’re on the MATCH list. Please contact Merchant Stronghold at 1-888-622-6875 and we can find out if you’re eligible for a merchant account and how to help you get off the TMF / Match List.

4

Merchant Account Requirements in the United States

Merchant Account Requirements in the United States

For merchants in United States, we have listed the requirements of the account application that can help them to be ready with all sorts of documents that will help them to apply with correct documents while filling the merchant account application form:

All the merchants who are based in U.S. they need to provide the general requirements that are listed below that will help merchant to prove that she/he is a legal resident of United States:

Registered business name in U.S.: The merchant account applicant must be legally incorporated in the U.S. or at least merchant registered its business with the local governance that could give them “Doing Business As” name (DBA).

S. bank account: The merchant should have a running U.S bank account, in which the merchant will get the funds of their transfers deposited.

Physical address of merchant: A merchant must have a physical presence that is an address of living or doing business that can be verified.

The above document will help a merchant to show their legal presence in United States, if a merchant have the above necessary proofs, they can apply in the bank for a merchant account that can help them to collect payment through credit cards.

Now for filing the application for merchant account the documents will vary with the businesses risk volume, that is categorize with the dependence of these factors including nature of business, monthly processing, previous processing experience, etc. Although, the basic things a merchant needs to fulfill while applying for the account is:

Application Form: The application form that will collect the basic information of the business and applicant. The information includes physical address, Tax ID, average sales, bank account details, web address, phone number, etc. There is an advance pricing agreement that is regarding the pricing of the products.

Business license: The applicant’s business requires any kind of permit before being sold; the applicant needs to provide the appropriate license copy at the time of application.

Incorporation proofs: if the applicant claims that their business have the existence in all over the world, then there is a requirement of providing/submitting the copy of
incorporation paperwork, that proves that business is illegible to collect payment from around the world.

Voided check
W-9 form
Personal guarantee

Other than the document, the businesses that are listed in higher risk categories, needs to provide these addition details about their business:

Business financial statements: Normally the details of last years of business transactions are required.

Personal financial statements: Again, the details of last two years of personal account details.

Processing details: If the business has previously accepted the card payments, then at least of last three month of processing of payment details needs to be share with the processer.
If you are looking for Merchant Account Services in USA. You're in the right place. Merchant Stronghold providing in low rate best Merchant Services in USA .

23

What Is Transaction Descriptor Or Merchant Descriptor

What Is Transaction Descriptor Or Merchant Descriptor

This means, for a merchant, the transaction descriptor is far more important than to a customer. An incorrect or non-informative merchant descriptor can lead to chargeback, which is even more worse for the business. This article contains all the details necessary for a merchant regarding the Merchant Descriptor.

WHAT IS TRANSACTION DESCRIPTOR OR MERCHANT DESCRIPTOR?

It appears on the credit card statement or any other bank statement of the customer that contains details of the company and merchant involved in the particular transaction.

The purpose of the merchant descriptor is to identify whom the payment was made to. Whenever a merchant goes for the merchant account, he or she is asked to provide the merchant descriptor as well.

WHAT ARE THE BENEFITS OF HAVING TRANSACTION DESCRIPTOR OR MERCHANT DESCRIPTOR?

Having a transaction descriptor can save the merchant from a chargeback. This is the most important benefit of having the transaction descriptor.

A descriptor gives a clear information about the merchant and the purchase.
That also results in a low chance of the chargeback from the customer’s end.
This helps a customer to quickly identify the transaction.

According to the various reports from the card networks, most chargebacks are filed simply because the customer did not identify the transaction.

HOW TO CHOOSE THE CORRECT TRANSACTION DESCRIPTOR FOR YOUR BUSINESS?

Now you know, as a merchant you should give attention to the merchant descriptor. If this is the case, you need to gather more information about the Transaction Descriptor or Merchant Descriptor.

There are two kinds of Transaction Descriptor:

Dynamic Descriptor – And in this case, it varies and includes the details of the purchased goods or service.
Static Descriptor – A Static Descriptor remains the same for all the transactions made by the merchant.

You must be wondering which one is better and what should you get for your business.

A Static Descriptor is often called Hard Descriptor. If you have a business that sells one kind of goods or service then you can go for this. A static descriptor generally contains the company and location in form of the zip code.

For any queries related to the Transaction Descriptor or Merchant Descriptor, feel free contact Merchant Stronghold. We also provide other merchant processing services and high-risk merchant account services. Also, you can try our toll-free number +1 (888) 622 – 6875 and try the 24/7 email support.

26

How Can I Make Sure That I Am PCI Compliant?

How Can I Make Sure That I Am PCI Compliant?

Many people believe that PCI compliance is required by law; however, except for in a few states that have adopted the PCI DSS as a part of their consumer protection laws, it is not. You won’t go to jail for not being PCI compliant, but that doesn’t mean that there are no consequences.

For one thing, you could be fined by any of the credit card companies that you accept through your merchant account. The size of the fine varies, but it can be quite large if a data breach occurred that resulted in significant financial losses.

More importantly, your business’ reputation could be hurt. The whole purpose of PCI compliance is to take steps to improve the security of customers’ financial data. While it’s still possible that your system could be hacked even if you’re compliant, if you don’t adhere to the best practices established by the guidelines, you’re at a much greater risk.

Studies have found that 60 percent of small businesses that suffer from data breaches that involve customer credit card numbers are out of business within 6 months to a year. The reason why is the breach of confidence. When word gets out that the company’s systems are not secure, their reputation is damaged, and it can be hard for a small company to ever rebound. With so much riding on your brand image, it’s not worth the risk, especially when you consider that being PCI compliant does not require much work for merchants.

Much of PCI compliance is the responsibility of the payment gateway or merchant services provider that you choose. The best thing that you can do to ensure PCI compliance is to choose a provider that meets all of the standards set forth by PCI DSS and install antivirus software on your computers.

You should also develop policies and procedures that safeguard your customers’ credit card information. Only employees that need to know the information should have access to it, and each member of your team who has access should have a unique account or ID that is password protected. Also, you should make sure that your data is kept safe by storing it on an off-site data center that is PCI compliant.

Merchant Stronghold offers merchant accounts through a payment gateway that is fully PCI compliant and allows businesses to accept electronic payments anywhere. For more information about our services, please contact us today.

28

Setup A Merchant Account for your High-Risk Businesses

Setup A Merchant Account for your High-Risk Businesses

The first thing you have to do

Determine the way credit card payments will work for your company. This means that you need to figure out the type of credit card payments that you want to accept and how you accept those payments. You need to see if you accept website payments, if you want to use a POS solution or mobile payments. You will also have to think about the amount that you get from credit card sales to begin with.

Aside from that, when you create a new merchant account you will need to think about the merchant payment processing and you will also have to make a comparison between all the services offered to you. This way you will be able to see which one actually delivers the best value for your money, so you should consider that as fast as possible. Each merchant account provider has a flat rate that will be charged each time a payment is processed or it might have a percentage fee based on the total transaction amount.

Stay in Control

Sometimes you will see that merchant provider options will have software and payment acceptance solutions. Of course, if you do opt for these merchant services you still need to have something that allows you to be in control. It might be challenging at first, but results will end up paying off quite a bit which is exactly what you want to focus on here. Having control over the way your customers pay is very important so try to keep that in mind.

Some of the merchants will set up your account and they will just require you to undergo a credit check and offer a personal guarantee. The application process might take some time though. Once that is done, the setup process will be completed and results will be impressive for sure. What you will like here is the fact that the process is seamless, once you apply for the merchant account, the provider will take care of everything. If you want to skip on some taxes or just want to deal with companies outside your country, you can work with an offshore account provider.

As you can see, setting up a merchant account isn’t that challenging to begin with. It will take some time though, so try to keep that in mind and it will help you quite a bit which is exactly what you want to have!

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High-Risk Merchant Account For Debt Consulting Business

High-Risk Merchant Account For Debt Consulting Business

Why do you need a merchant account?

There are plenty of reasons why you might need one. Not only does this help you generate more value for your money, but at the same time the return investment is great. You basically get to integrate credit card processing and a credit card terminal into the entire experience to begin with. That’s what really manages to make the solution stand out. Having check processing or credit card processor options can really allow your business to generate more clients.

Plus, you have to think about the consumer convenience. This is very important for you and it will bring in front a very immersive and fun experience to begin with. At the end of the day, the ability to explore offer consulting services to your customers is very important, but so is the ability to get paid online or via credit cards. For this you need a good point of sale system and a dedicated merchant account that will be able to process all of these tasks as fast as possible.

Is it easy to do this on your own?

No, you just can’t manage and track all payments properly; it can be very confusing and challenging. On the other hand, you will see that having a merchant account can help bring you new clients and even generate return clients as well.

It’s very hard to find a good set of features that can help you deal with online payments. Thankfully, a merchant account will be able to help you do that as fast as possible. It will not be easy to do that at first, but in the end that’s what makes the experience worth it. Plus, the fact that you will be able to offer great merchant services to your customers is also very important. This can really help bring in front a much more refined experience and you do want that to happen for sure. Do try and integrate the best payment processor solutions to your customers and results will be extraordinary all the time!

30

Get A Merchant Account For High-Risk Business

Get A Merchant Account For High-Risk Business

Yes, a high-risk business will have a hard time getting a merchant account, although there are high-risk merchant accounts that can be acquired at times. It’s important to note that such a business can have a hard time getting online payments just because acquiring a merchant account is quite demanding. The high-risk factors included here are a large number of chargebacks, refunds and so on, credit card fraud as well as companies that have a very high number of non-fatal or even fatal accidents, to begin with.

Moreover, there are businesses that don’t comply with the regulations and requirements requested by the local law. This is very important and it does bring in quite a lot of trouble to begin with.

Of course, working with a high-risk business doesn’t bode well even for some major companies as well, which is very challenging for sure. It might be very problematic at first, so you should just try and avoid that, to begin with. Yes, it will be problematic to deal with this type of business because not that many want to focus on working with companies that are in debt. This doesn’t really seem to bring in front of a lot of trusts and that’s why most high-risk businesses tend to be avoided. They also tend to have a bad reputation in the industry and that can hamper their potential partners to begin with.

Contact your Merchant Stronghold representative learn more about high-risk merchant account services and how we can help you start processing quickly.

32

Why An LLC Is The Right Structure For Your Startup Business

Why An LLC Is The Right Structure For Your Startup Business

They can get the merchant account and get paid from national/International Customers

One pattern that is being observed and said to be the safest type for the formation of the company in the United States is “Limited Liability Company”, the reason behind this type is preferred over the others is its business structure and there is no need to have a permanent resident to register for this company type and getting a payment gateway integrated with it to accept Credit Card payments.

A Limited Liability Company structure combines the feature of Sole Proprietorship and corporation that is, the income of the company is treated as the income of owner(s) and the limited liability of corporation means the owners or investors are responsible for the amount that is being invested by them in the company.

The business owners preferring LLC, get one of the legal advantages that every business owner prefers to have is this type creates a bar between the owner’s personal assets are kept away from the business assets.

That is, it offers the protection to owner’s personal assets from the business assets at the time of legal decisions about the business.
There is a different and decent type of taxation method that is implied while registering a company under this type. The company doesn’t need to file for a corporate tax that is owners and investors report their profit and loss at the time of paying tax.

Now to get the access for a MERCHANT ACCOUNT and payment gateway for the acceptance of any electronic payment method the company needs to provide these documentations:

There is need of U.S. bank account, for this the person who is the registered agent of the company in the United States can use its account as the transactions made by the sales in the United States needs to be cleared in any bank of United States and must have Merchant Account to get paid from customers.
The name that is registered under the name of Limited Liability Company should be used as “Doing Business As “name.
Physical or virtual presence of the business in the United States will be required to show the company. For which the company needs to provide an address and a telephone number that will help a company.

33

Get Merchant Services for Consulting Business In Easy Steps

Get Merchant Services for Consulting Business In Easy Steps

Merchant stronghold offers you the control that your business needs to climb up. We provide reliable and secure architectures so that you get premium security and low fees. There are many payment solutions, you can choose from payment types that are much familiar to your users. It doesn’t matter whether your customers are in Europe, Canada, America, or United Kingdom. Our merchant services are capable of accepting payments from anywhere in the world.

BENEFITS OF OUR MERCHANT SERVICES

Payment Processing:
Your business can accept cards, securely and affordably. We believe that merchant services should be low cost, simple, and transparent. Merchant Stronghold provides these services with no hidden fees.

Point of Sale:
We have changed the way point of sale works. There are no additional costs, everything that you select comes with warranty, support, and upgrades. We can reduce operational cost and increase customer satisfaction.

Business tools:
Best payment solution will be at your service. You can collect data and analyze it to gain more profit. Everything that a business needs to succeed is integrated in one portal.

Business Financing:
With a simple and reliable application, you can provide quality services to your clients. We offer most advance and compelling financing offers so that your business benefits you.

Merchant Stronghold believes that your consulting business can be directed towards right direction. We stand with merchants- so that they can enhance business with fair and honest practices. Business is not just about earning money, it is about making customers happy.
Our merchant services can deliver premium services not only to business owners but their customers as well. We don’t keep anything from our clients as we make sure that business owners are proud to offer credit card processing on their website.

MERCHANT STRONGHOLD SERVICES INCLUDE

Credit and Debit card processing:
Some people use credit card for shopping and others use debit card, so having both the options will expand your domain.

Latest Technologies:
One of the most important points is to have technology efficient website to grow your business. We offer affordable solution that includes EMV chip card terminals and point of sale.

EMV Chip Card:
This technology can protect your business from possible frauds. Contact us and we will explain it in detail.

PCI DSS Security:
It is important for business to comply with PCI security standard. We can maintain it for your business.

34

Merchant Account & Payment Gateway Integration Identity Restoration Business

Merchant Account & Payment Gateway Integration Identity Restoration Business

Fees associated with a merchant account

Cancellation fee: It is charged when you send your contract with an online merchant account before the due date of your contract. Not all the providers require a contract, but those who have this police ask for cancellation fee.

Chargeback fee:

When money is returned to the customer. This fee is initiated by the bank of your customer, often because of fraudulent transactions. Chargeback is one of the reasons why merchants around the globe lose thousands of dollars. It is a fee that merchant account providers take for processing the chargeback request.

Gateway Fee:

It is a monthly fee to keep your merchant account. This fee is charged to maintain your online merchant account. Some online payment gateways don’t charge money, while others may charge as much as $20.

Monthly minimum:

This is the amount your account is required to process on monthly basis. The fee is charged to maintain the account, but if you don’t exceed the minimum, then merchant account providers will charge you accordingly.

Statement fee:

A statement fee is charged by all the online merchant account providers. This fee is associated with your statement and it is taken at the end of the billing cycle. You will pay between $7 and $10. It is charged when you get a paper base or paperless statement.

Transaction fee:

As the name suggests, it is a fee that is charged every time a transaction is processed. Usually, it is between 20 and 25 cents. This fee remains same no matter how big the transaction was.

Merchant Stronghold understands that your Identity Restoration services require customized account so that you can run your business flexible. Keeping the needs of your business into consideration, we have designed a system that offers minimum fees and maximum benefits. Above mentioned fees are charged by many companies, but we have our own set of rules, you can contact us and we will inform you how much you will be charged.

35

High-Risk Merchant Underwriting Process for your Business

High-Risk Merchant Underwriting Process for your Business

The vital goal is to evaluate the business’s level of high risk for the provider. Why?

Because a merchant account is fundamentally a line of credit. If a business is strike with a chargeback but doesn’t have enough funds in the bank to pay it, the provider fronts that expenditure right away.

Just before truthfully establish the High-Risk Business level, providers review the following:

INDUSTRY TYPE

Every business kind has its own level of risk. For example, a business that swipes cards is less likely to deception/fraud and chargebacks, and is, therefore, less dangerous, than a business that sells products on the web. The riskier the business, the more support documents and information required for review.

MERCHANT HISTORY AND CARD ACCEPTANCE METHOD(S)

Providers will need to know things like your business’s chargeback ratio (over 1 percent is a red flag), whether your business is or has been on the Merchant Terminated File and, if so, why. Most providers evaluate current merchant statements to get an idea of processing volume and methods of acceptance. Businesses accepting tips or phone and online orders are there for more features and security measures if approval is there.

PROCESSING LIMITS REQUESTED

Providers will take these into consideration in conjunction with the above information. Providers should set your limits on a happy medium — they should accommodate your regular processing without giving too much room in the event of a large fraudulent charge. If your business doesn’t need very high limits, your account needs a different setup.

BUSINESS HISTORY AND POLICIES

This incorporates years in industry, billing, shipping and returns policies (if applicable). Organizations that ship products are riskier because the product might not be delivered, which can result in a chargeback.

FINANCIAL STABILITY

This can include a look at the business’s bank statements, its financials and, usually, the owner’s credit. This is vital for high-risk businesses, as this information can make or break the merchant underwriting approval.

Poor Merchant Underwriting After effects

Without an in-depth analysis, your High Risk Business may suffer from one or all of the following:

Incorrect Limits
Hidden Volume Fees
Downgrades

36

Get Instant Approval Tech Support Merchant Account in USA

Get Instant Approval Tech Support Merchant Account in USA

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.

Requirements to Tech support merchant account :

A bank letter or a pre-printed voided check
A valid, government-issued ID, such as a driver’s license
3 months of the most recent bank statements
An SSN (Social Security Number) or EIN (Employer Identification Number)
Chargeback ratios under 2%
3 months of the most recent processing statements, if applicable

Easy & Quick to work with:

No application fees
Competitive rates
Chargeback protection
Multiple secure payment gateway programs

We Offer:

Chargeback dispute resolution and prevention programs
Business funding
ACH processing
Instant check processing solutions
High-volume payment solutions
Online payment gateways
Mail order/ telephone order (MOTO) processing
Point-of-sale solutions

Get more information about Tech Support Merchant Account related. Contact us *+1 (888) 622-6875. *

37

What is Rolling Reserve & Why is It Important to Merchants?

What is Rolling Reserve & Why is It Important to Merchants?

Rolling Reserve Merchant Account: When it comes to new merchants and high-risk businesses, the bank takes all the possible caution to avoid any loss in their business. Due to which they have created a robust network of rules that need to be followed at all times so that economic and financial aspect of the business never sees any downfall.

This is the reason that bank introduced the concept of Rolling Reserve Merchant Account.
**
WHAT IS ROLLING RESERVE MERCHANT ACCOUNT?**

Rolling Reserve is a fixed percentage (generally 5-10%) of a merchant’s transacted amount reserved by the bank which can be used in case of an excessive chargeback. This happens for only a short time interval (6-12 months) until the business gets some stability.

Upon completion of this time interval, the bank releases the amount to the merchant on the scheduled dates.

WHAT IS THE PURPOSE OF ROLLING RESERVE?

As we discussed, rolling reserves are applied for the merchants having a high-risk business. The idea of introducing the rolling reserve is to avoid any loss of revenue in case of excessive chargeback in the business.
What are the traits that result in high-risk business?

Excessive Number of Chargebacks – Most of the credit card networks have established 1% criteria where chargeback ratio of more than 1% will state as an excessive chargeback. Upon exceeding this limit, again and again, can make the business as a high-risk business.
Merchant With Poor Personal Credit– If you are a merchant with a history of bad credits in previous terms then you can face consequences while getting the merchant account. This means might be denied from a merchant account or get the Rolling Reserve Merchant Account for your business.
**
There are some businesses that are considered as the high-risk businesses, for

example:**

  • Online Gambling Or Casinos
  • Computer Software And Hardware Business
  • Bitcoins Or Forex Trading
  • Dating Services
  • VoIP Or Telemarketing
  • Pharmaceuticals Or Drug Stores
  • E-Commerce
  • Adult Materials, Products Or Services
  • Airline Tickets
  • Magazine Subscriptions

If you are a merchant of those businesses or similar businesses then you will be provided with Rolling Reserve Merchant Account.

Merchant Stronghold offers account services for the merchants with high-risk businesses. You can contact our experts by placing a call at the toll-free number.

If you have a high-risk business then rolling reserve is inevitable. However, you can work on other strategies to maximize the profit so that it won’t affect as bad as it may seem.
Furthermore, you can work on strategies to minimize the chargeback in the business. And finally, use the best business practice to eliminate any situation that can harm the reputation of business in any way.enter link description here

38

What Causes Merchant Account Hold Or Freeze & How To Avoid This?

What Causes Merchant Account Hold Or Freeze & How To Avoid This?

The Bank has the right to Hold and Freeze the Merchant Account without prior notice. This is a step of precaution in case of any frauds. Here are some situations that can lead to potential Merchant Account Hold or Freeze.

Before opening the Merchant Account, the bank asks the Merchant to sign the terms and agreements. And if the Merchant does not follow the bank norms, the bank has every right to freeze the merchant account.

High Number of Chargeback – If your business is causing a large number of chargeback every month then the bank will investigate your business methods and discontinue your banking facilities.

Dealing in Undisclosed Goods and Services – Before opening the Merchant Account, you must inform the bank about your business with a detailed description. In case, you are caught dealing in other goods then you can be subjected to Merchant Account Freeze.

Suspect of Fraud – If you or your business is involved in any kind of fraud or illegal activity then banks can take actions by freezing the account.

If you know the possible reason behind the merchant account issues then you can use the knowledge to avoid Merchant account hold or freeze in the future.

How to Avoid Merchant Account Hold or Freeze?

Get a nice payment processor for your Business Account. Also, get a High-Risk Merchant Account if necessary.

Moreover, if you are about to make changes to your business and starting to sell different goods or services, then make sure you inform your Payment Processor about the change.

Reduce the number of chargebacks. Excessive number of chargebacks can cause a variety of losses including the Merchant Account hold.

Finally, if you are going to make an exceptionally large transaction then inform the payment processor regarding your transaction details.

You can also hire an expert to help you avoid Merchant account holds or freeze. For such services, contact Merchant Stronghold and connect to an expert. We provide the best credit card processing services for all kinds of businesses. Merchant Stronghold specializes in high-risk and offshore merchant accounts. Reach us using the 24/7email support at info@merchantstronghold.com or directly visit us at app.merchantstronghold.com.

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How can Accept Multiple Currencies with an Online Merchant Account?

How can Accept Multiple Currencies with an Online Merchant Account?

Having a multi-currency merchant account can be a very easy way to increase the sales for business from the international buyers. The Multiple Currency Merchant Account or Multi-Currency Merchant Account allows a merchant to display the prices of products and services in a different currency. This means the buyers can choose the product from the list and make the payment as per their currency. This also helps Merchants to increase revenue.

It is very much required to have a multi-currency merchant account to accept the payment as the world is becoming a single marketplace. In order to sell products and services to global buyers, US sites are on the top till now. We at Merchant Stronghold offers the Merchant Accounts for your businesses as well as the 24/7 services. In case of any issues or queries related to the account setup or another technical glitch, you can visit us at merchantstronghold.com

**BENEFITS OF MULTIPLE CURRENCIES MERCHANT ACCOUNT

Merchant:- **

Increase In Sales: As a Merchant, if you display the prices in different currency then it helps in increasing the sales globally.

Higher Conversion Rate: While shopping from a website a buyer does not need to focus on converting the price into local currency. The only focus should be on buying product or services and making payment in their local currency. Using Multiple Currency Account gives you a higher conversion rate of shoppers to buyers.

Reduced Chargebacks: Transparency in currency makes it easier for the buyers to make a purchase, which in turn reduces the chargebacks. Also, a reduction in other service queries from the buyers, as Merchant showcases that they care about the buyer’s shopping experience.

Enhanced Buyer’s Trust: As the buyer becomes more comfortable buying any product or services in their local currency. So this builds the buyer’s trust or enhances their loyalty towards the merchant.

Reduction In Expenses: Using Multiple Currency Merchant Account reduces the processing fees or expenses. Also, lowers the foreign exchange risk.

Competitive Advantages: Multiple Currency Merchant Account gives you the provision of being top of the competitors as well as, makes your customers visit again and purchase more from your site.

For Customers:

Better Experience: Prices displayed in the local currency gives the buyers a good shopping experience. It also offers them more familiarity.

No Extra Fee: Buyers can pay in their local currency with no surprise factor at the end. They can avoid the currency exchange fees by paying in their local currency.

Well Informed: If buyers are well informed then they will be confident enough to buy more from the site. This will eventually increase the number of sales and revenue.

No Transaction Fee: If buyers are paying in their local currency then there will be no foreign transaction fees on their final statement of the purchase.

We have mentioned the benefits of having a Multiple Currency Merchant Account above. In case of any other queries visit us at app.merchantstronghold.com for better assistance.

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What is difference between US and European Merchant Accounts?

What is difference between US and European Merchant Accounts?

US Merchant Account

Initially, only US banks were providing the credit card processing services to the e-commerce merchants or other stores. After seeing the successful growth in online selling, the banks also started providing e-commerce merchant services for online selling to the merchants.

Now, there are several US banks that offer the e-commerce Merchant accounts, credit card processing services and other transaction services. And this rise in the number of banks affected the prices and grew to be bargain-able or competitive. Also, if the merchant is not a resident of the US then he cannot get a Merchant account. But, all this comes to an end when European e-commerce merchant accounts came into existence and became available for Merchants.

European Merchant Account

In order to have a European Merchant Account or credit card processing services, a merchant does not require to be a US citizen, which means you could get a Merchant account from anywhere in the world. The European Merchant Account provides an award-winning gateway to the merchants. Now the Merchants have two options, which are the US and the European Merchant Accounts, to choose either one of them according to their convenience.

DIFFERENCE BETWEEN THE US AND THE EUROPEAN MERCHANT ACCOUNTS

Pricing

There is a huge difference in the prices between the US and the European Merchant Accounts in terms of the gateway, setup fees, and discount rates etc. The European merchant accounts are way higher in prices than the US Merchant Accounts. The cost of the US Merchant Accounts decreased due to the high competition among the US banks. Unlike US banks, there is no such competition for the European Merchant accounts which leads to a higher cost. European Banks offer their services all over the world while the US banks provide their services in the US only.

Quality

In terms of the quality of the services, both the banks are equal. Both the US and European Merchant Accounts offering the same credit card processing services like VISA and MasterCard etc. Even though the banks are using the best credit card processing services and security services there also be a possibility of scams. The quality can be checked in terms of the time of approval, safety, and security etc. As we are all aware that a different gateway technique is used by every credit card processing service, which helps to keep the data safe. Also, there is no difference in the time of approval between both the US and the European Merchant Accounts.

Account Setup and Monitoring
Availability

41

Get High-Risk Offshore Merchant Account by Merchant Stronghold

Get High-Risk Offshore Merchant Account by Merchant Stronghold

Merchant Stronghold is in the market since long and has maintained good repo by providing best services to our clients. Our commitment to excellence drives our interactions with clients, customers and each other which helped us in attaining 100% customer satisfaction rate. Following are the things that make our service better than the other players in the market:

INTEGRITY

Integrity, trust, and honesty are the foundation of everything we do as a company. We look for health and long-term relationship with our clients and not just looking for one time sale.

TEAMWORK

We operate as a team, sharing experiences, resources, and opportunities. We help others when they need it and ask for help when needed. As a team, we along with our clients, workout for best solution which not only meets all the current needs but also meets the need of the near future.

INNOVATION

We make every effort to translate creative and unique ideas into services, products, or processes that create value. We have a well knowledgeable and creative team which works hard to come up with new and better solutions all the time, depending upon the requirement of our client.

COMMUNICATION

We foster an environment where all associates’ voices are heard and everyone is encouraged to share their opinions. We work as a team and appreciate active participation of all our employees, encourage new ideas and irrespective of their designation, value their opinion. Not only with our team but we also respect any valuable suggestion from our client.

ACCOUNTABILITY

We are responsible to each other, to our clients/customers and to ourselves to do the right thing. ‘Product sold’ is not our aim. We take responsibility for each and every service we provide and have a team on standby mode 24*7, 365 days to helps our clients with any issue they are facing.

FAST SETUP/APPROVAL

We expertise in our service and are capable of getting same day approval that includes gateway integration, which makes it possible for our clients to accept payments faster without wasting time be standing in a big queue. Our 12 processor relationships ensure 98.7% of accounts approval. We assure you to get started with your business as soon as possible.

RELATIONSHIP WITH BANKS

We have successfully maintained a good relationship with most of the major banks in the home country as well as abroad. Hence, if you are looking for an offshore merchant account for your high-risk business, we are just a call away.enter link description here

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How To Understand Which Type Of Offshore Merchant Account Comes In High-Risk?

How To Understand Which Type Of Offshore Merchant Account Comes In High-Risk?

It is true that some offshore merchant account providers cater specific high-risk industry but it’s not the case with all other offshore merchant account providers. Let us first understand what an offshore merchant account is.

It is like any other account but is with a bank outside merchant’s home country. This type of account enables a merchant to accept payment online by accepting credit card. It is not restricted to any industry type, but is available for merchants across all the industrial categorization and can get this account opened to reap its benefits. This type of account is more beneficial for merchant’s expanded their business beyond geographical boundaries i.e. multinational merchants.

Multinational merchants mean that the merchant sells a product to domestic as well as international customer and deliver real-time credit card processing in a local currency of customer. For safe and secure credit card processing these merchants should work with local bank of other countries. To achieve these objectives, an offshore account is the best alternative.

Are offshore account high risk?

An offshore merchant account does not translate to high risk but depending upon the geographical location of business some merchants may refer to these accounts as offshore in a certain jurisdiction whereas others might consider it onshore. It is advisable to work with reliable international merchant account provider as it delivers security to every credit card processing and this will help merchant as well as provide various opportunities to grow business financially as well as geographically.

Generally, an offshore merchant account is high risk as it caters businesses at risk for fraud and bankruptcy. These businesses are:

Better refund frequency
High sales volume
High chargeback ratio
Poor credit history
Company registration address is available in an offshore environment.

Most of the businesses need to take a risk without affecting their financial credibility in order to increase sales or for growth, this kind of flexibility provided to the merchant by High risk offshore merchant accounts. Domestic financial institutes find it risky to deal with such situation. Hence, they avoid giving approval for a merchant account to high-risk businesses.

44

Get Tech Support Merchant Account In USA & UK

It's important to look into the merchant preparing fees that a bank will charge your business before joining with them. Most big-small companies will choose to work with the bank that they've done the most business with so far. Using your present bank as a credit card processor is typically the easiest way to get the process started because they already are familiar with all of your basic personal information.

In specific cases, your nearby bank may charge altogether more (or less) than one of its rivals, so it's vital to do the exploration and compare costs. If it's not too much trouble note, the merchant processing bank will most likely force you to open a checking account, too. They will do this so they can transfer the credit card assets to an in-house checking account.

All websites and companies need tech support in order to connect with their customers and solve any potential issues that appear. No matter what industry one pertains to, there will always be a need for tech support companies. However, with so many companies in the tech support world it will be very hard for you to stand out which is why we are here to help. We will provide you with a merchant account and a very good payment gateway that will you boost your business and offer you better help to your customers.

Why do you need a payment gateway and merchant account?

If you want to have a high class, compliant tech support company you need to do all you can in order to streamline your financials. Not all support companies out there tend to deliver the utmost value which is why it can be nothing short of frustrating when a merchant problem appears and your business can’t get paid. Plus, many companies use only specific payment processors which make it even harder to get paid.

Thankfully, Merchant Stronghold will help you deal with all of that in a very professional manner. No matter if you deal with companies from another state or high risk businesses in your own country, we are here to assist and we will offer you the best financial solutions on the market.

On top of that, the payment gateway and merchant account offered by us is designed to be very reliable, professional and suitable for any company out there. We understand how hard it is for you to obtain a very good approach and with our help you can reach those results very fast. Merchant Stronghold can also provide APIs to integrate your Tech Support Gateway with your website to accept payments online, we also pre-integrated website with payment gateway to run your business online and accept payments only anytime & anywhere.
Get more information about tech support merchant, click our website and read our blog pages, also, you can contact us our experts team that provide you the best ways. Contact the Merchant Stronghold services today!

45

Get High-Risk Merchant Account For Your Business

Get High-Risk Merchant Account For Your Business

Types of businesses that need a High-Risk Merchant Account

Annual memberships
Adult products
Bail bonds
Online dating sites
Business opportunities
Electronics sold online
Home-based
Online auctions
Horoscope/Fortune telling
Mail order or telephone order
Multi-level marketing (MLM)

The worst-case scenario of taking a loss on your account, due to your personal credit or company financials not able to support the sales volume that you are applying for.

Your service or product has a longer chargeback liability period. If you are offering annual memberships, customers have 18 months to issue a chargeback (6 months from the end of the service date).

You are in an industry that has a history of high-chargebacks. The bank feels they will spend too many resources managing your account, and eventually have to turn you off regardless if/when you exceed chargeback thresholds.

The account has a “reputational” risk, such as the adult industry.

If you are on the TMF or MATCH list.

If you need Merchant Account and If you are searching online for key phrases related to high-risk merchant accounts and provides of Visa, MasterCard, American Express, discover credit card processing services for high-risk business types and if you need some help. then you come to the right place #Merchant Stronghold. Almost everything you need to know about receiving credit cards in USA, UK, and Canada with a high-risk merchant account can be found here for our goal.

47

Get CBD Merchant Account In Easy Steps

Get CBD Merchant Account In Easy Steps

When you need a CBD merchant account, one of the things you’ll notice is all the credit card processors that are going to refuse to give you one. It’s a real problem for people who sell CBD edibles, hemp and cannabis oil, and other items in the marijuana industry. Fortunately, this doesn’t have to be a problem for you any longer. Merchant Stronghold will work with you on opening a CBD high risk merchant account and keeping your account alive.

With so many states allowing cannabidiol and CBD oil product sales for both medical and recreational use, the demand for payment processing in this pseudo marijuana industry is growing. However, many banks and other financial institutions feel that this industry is too high risk or potentially damaging to their reputation. Because of this, they are reluctant to handle any type of payment processing for CBD merchants. This has led to a crisis with companies that offer CBD, hemp products, vape equipment and other marijuana related options, and then those companies end up frustrated and losing sales.

How To Get A CBD Merchant Account

You don’t have to deal with the frustration that most CBD merchants experience during the process of endlessly searching for a payment processor. No more turning away customers who want to purchase CBD products with debit and credit cards. Because, the simple fact of the matter is, CBD and hemp based businesses deserve as fair of a chance to have access to the same merchant services as other industries.

Merchant Stronghold will work with you on opening a CBD high risk merchant account and keeping your account alive.

48

Merchant Account for Nutraceutical Products

Merchant Account for Nutraceutical Products

Some merchant account providers specialize in high-risk merchant services, but they do in general charge higher transaction fees. All of them are not alike though. Few providers offer customized end-to-end payment solutions and some don’t. Some also offer to process for numerous currencies and others do not. For these and other reasons, it’s best to do very systematic research into merchant processors offering Nutra deals merchant accounts.

In spite of the fact that there are more choices nowadays in the card preparing industry, finding the correct processor can be testing. You will require one that addresses your organization’s issues and that can take some time and legwork. Search for a respectable place that has been working together for some time. Discover what different administrations they may offer.

For example, online installment doors. In the event that this is something that will be critical to you, ask whether they handle things like various monetary standards. Discover a processor that can make different Nutra deals shipper accounts accessible to your organization

A GROWING NUTRACEUTICAL INDUSTRY

The Nutraceutical items industry is a growing, flourishing industry. Numerous Nutra deals organizations help people all over the world to lose weight, and look and feel better. The uses of the item by the majority and many do truly work. Some well-known professionals like Dr. Oz sell them. “As Seen On TV Products”. In addition, natural alternatives are popular because they work and offer good results without harmful side effects.

Good products that offer multiple health fitness benefits without harmful side effects will always be in order and popular with consumers. consequently, there will always be numerous online suppliers of these items with an awesome requirement for solid merchant services.

Though it can be difficult to locate a regular bank to work with, it is still possible to do so. In order to work with a traditional bank or processor, it is necessary to establish your business in the marketplace. This is when a processor that specializes in merchant services for Nutra sales will be there.

49

How to Open A Merchant Account for your Business

How to Open A Merchant Account for your Business

If you own a small business or a large enterprise, it is necessary to open a merchant account with a bank. This is because the merchant account can provide many benefits to the merchant and customers, both.

Here are some benefits to use a merchant account for your transactions:

Better Customer Experience – The Merchant Account offers flexibility in terms of payment to the customers. They can access your services and get the products anytime they want by simply making the quick payment. This can result in an increase in customers and their satisfaction as well.
Increase in Sales – As mentioned in the above point that the customer satisfaction leads to more customers. That helps your business to gain more loyal customers and increase sales. Furthermore, the merchant account handles and manages all the transactions without any issues and errors.
Accepts a wide range of payment methods – Every Customer uses a different mode of payment method as per their convenience. If you are a merchant then you should prepare your business to accept payment using various payment methods. This especially includes the credit card.
Prevent Payment Frauds – Payment frauds are common in the business. Moreover, there are many fraud tricks that can easily fool a person. But when you use a merchant account, you also get the security features provided by the bank to get the genuine money for your original product and service.

Frequently Asked Questions

  • What are merchant account requirements?
  • How to apply for a merchant account?
  • What is a merchant account?
  • Who are merchant account providers?
  • How to get online merchant account instant approval?
  • Should you Open Merchant Account with a Bank?
  • How to open a merchant account online?
  • Get chase merchant account
  • Do I need a merchant account?
  • What are the names of merchant accounts for small businesses?
  • How to get a merchant account with bad credit?