We have been talking about diverse properties of the high-risk merchant account business for a very long time and have most likely reached on most, if not all, of the most important issues. Here are some more guides on high risk merchant accounts.
High-risk merchant accounts are a group of finance services that offers businesses to receive card payments from customers. Credit card processors assign merchants to one of two categories: high risk or low (normal) risk, based on a number of factors. High-risk merchants face limited options in processors, plus higher fees and strong binding contracts. Being considered as high-risk sounds terrible. But in some cases, it can be your only option.
It’s practically impossible for online shopping merchants to do their business without accepting credit or debit cards. Before you can take “plastic,” you need a payment processor who acts as a link between you, banks, and credit card networks.
A lot of financial processors do business exclusively with low-risk merchants, who they consider as a low risk investment. That means businesses considered high-risk will have a very small selection of potential processors to choose from. Any processor you approach will take a careful, detailed look at your business to determine if you fall under their definition of “high risk,” based on the financial risk your company represents.
Here are some high risk credit card processors : PaymentCloud serves a range of business types–including high-risk merchants–with a reported 98% approval rate for new merchants. Pricing is based on business history, and the company has no application or account setup fee.
eMerchantBroker.com is a Los Angeles-based credit card processor that primarily serves high risk e-commerce business types. The company’s high risk processing services include chargeback dispute resolution, an online payment gateway, ACH processing, merchant cash advance, and MOTO processing options. eMerchantBroker.com has maintained a low complaint rate since our first review of the company and appears to offer custom pricing plans depending on each business’s type and processing history.
We worked with all of the high risk credit card processors, to be able to compare and our pick was HRMA-LLC. They cover all business types, have a huge experience in the field, fast customer support and low fees.
Do you have a business related to Membership recurring billing ? HRMA-LLC can help you. See more info at High risk credit card processing.