There are several important issues concerning your high-risk business that will determine what processor to apply to when opening a merchant account.
Who needs a high-risk merchant account?
If you can match your business with any of the below-listed conditions, then it is suitable for you to take the Merchant Account Service Provider in USA .
- Your bank doesn’t want to associate with your account due to your credit score or your company finances.
- If your business is getting higher chargebacks or you are having a higher dissatisfied customer for your business then certainly you need to consider a high-risk merchant account.
- If your industry is utilizing subscription-based services then there is the wide prospect that you are providing free trial services for your membership-based users. When free-trial-based users forget to cancel the subscription before the trial ends and gets charged for the first month, they often file a chargeback for the business.
- Business or industry has a reputation of being at risk, and then it could also damage the reputation of the bank. Industries such as gambling, adult entertainment, Casino merchants make banks a little nervous about how their conservative customers will see them.
- The merchant is providing the “future deliverable” products. Hotel rooms, event management, plane tickets, and reservation-based items.
- The merchant is having a poor history with your payment processor because you have been dropped, labeled as high-risk and other problems with your processor.
- Businesses are selling the high-priced commodity or product.
- Merchants are running their business from another country such as the Canada, European Union, Japan, and Singapore.
- Your business is listed in the Terminated Merchant File (TMF) or MasterCard Alert to Control High-risk merchant (MATCH) list. If you previously had a business and have been listed on one of these lists then your next business is considered to be risky.
- You have been in the business for a short time. The longer you are in the business, you are likely to become less risky, but takes a little bit of time to get there.
To read Complete Guide to High-risk merchant account visit eMerchantPro now
