The high-risk sector of the market is one of the most neglected parts. However, it is the same sector that has a few of the most highly paid people of all time.
Even eCommerce, Forex, Online Gaming, Dating, and Travel Industries fall under the umbrella of high-risk. On the other hand, getting a merchant account for these businesses is tough. Due to various parameters these industries are neglected and denied a merchant account by the conventional banks.
So, how did the high-risk merchant account changed the world? Did it do it for the better or worse?
What did the High-Risk Merchant Account change for the Merchants?
The High-Risk Merchant Account changed the business outlook of various sectors. The businesses that used to work with small shops locally can use the online market. In other words, commerce became eCommerce, Gaming became Online Gaming.
It is all thanks to the merchant account solution providers around the world. However, it is important to note that the merchant account providers should be valid. They need to be experts in what they are doing. Moreover, high-risk business means higher fraud chances. Thus, make sure that you choose the correct merchant service provider.
If there would have been any room for mistakes then the industry wouldn’t have been in the high-risk sector. Therefore the merchant service provider needs to be precise with their services.
What are the Expectations for the High-Risk Merchant Account Provider?
There are certain basic benefits that every merchant should aim for in their business. Here are some of the benefits:
Complete Security to the Revenue: Getting a merchant account means your revenue will be safe in the hands of the acquiring banks. It will be safe as compared to your offline mode of payment. Your business can accept online payment with a merchant account. However, to process the payments online you need a payment gateway integrated into your website.
Instant Approval: Choosing the right service provider allows your business to get the merchant account quickly. eMerchantPro offers instant approval through 100+ tied-up banks. That means, your business gets a merchant account instantly. It also allows your business to go online quicker than usual.
Multiple Modes of Payment:.All the modes of payment that you need should be present in the merchant account. The MSP should provide multiple modes of payment services to your business. In other words, eMerchantPro handles eChecks, Cryptocurrency, Credit Card Processing, Online Banking, eWallets, etc. It will help you to accept consumers with diverse preferences.
Security: Ensure Top-Notch security for all the transactions on your website. A merchant account with PCI DSS Compliance Level 1 keeps a high level of security. Moreover, eMerchantPro provides a Payment Gateway that is 3D Secure. It protects the payment processing with a third layer of a virtual one-time password. The authentication process is never compromised with the security lining
Easy Checkout and Global Card Saving: eMerchantPro’s expertise is quite visible with these two prominent features. It allows the consumer to
Save their transaction details for future use (Global Card Saving); and
Zero Redirections with a single-window payment (Easy Checkout)
Thus, it brings an enormous payment convenience right in front of them.
These are some of the benefits that are offered by eMerchantPro and other service providers.
What has changed with Merchant Account over time?
There are many well known merchant account providers around the world. However, choosing them will cause humongous problems to your business. High-Risk businesses are always at the risk of account bans due to chargebacks. Therefore, you need high-risk merchant account providers for your business to multiply.
With the Merchant Accounts that are dedicated to these industries, your business in the sector can start accepting online payments today. You must understand that these benefits are not common to every service provider. The intensity of the market should be well known by the service providers.
It is an enormous task for the merchants to research the correct service provider for the business. eMerchantPro has a complete in-house team of experts to help your business get a merchant account. It is quite easy on our part because we have multiple years of experience and huge clientele as well.
Conclusion
To sum up, high-risk merchant accounts have changed the course of businesses. The sector that was denied a merchant account and a payment processing channel is now in the top charts in the market.
eMerchantPro offers your business instant approval of the merchant account. Ensuring best security and ease of payments with payment processing channels as well. We offer both solutions for your high-risk business. It will get your business to go online. Accepting and processing payments online will be easy and prove to be genuinely helpful.
You can get in touch with us and accept online payments today. Our professionals will get in touch with you to clear all the queries instantly.
