Home » High-Risk Credit Card Processing highriskpay.com – All You Need to Know About it

High-Risk Credit Card Processing highriskpay.com – All You Need to Know About it

A high-risk credit card processing highriskpay.com is ideal for businesses that sell products/services that have a specific risk factor. While these products are needed, they tend to attract customers who engage in credit card fraud. In these cases, these clients might use a stolen credit card account or file a dispute that results in chargebacks of the sale. The results for high-risk credit card processing highriskpay.com means – loss of income and market value. So, having a high-risk merchant account has both pros and cons, but in the end, the benefits outweigh the drawbacks.

What are High-Risk Merchant Accounts?

High-risk credit card processing highriskpay.com can consider you to be a high-risk merchant if your business has higher chargebacks, higher volumes of returns, or larger fraud cases. There could be a plethora of reasons as to why you can be considered a high-risk merchant – you may be a new merchant who has not processed any prior payment or the industry you are in is a high-risk sector, or there are higher chances of fraud in your business.

Why would a merchant be considered high-risk by high-risk credit card processing highriskpay.com?

There are multiple reasons why high-risk credit card processing highriskpay.com would consider a seller/business owner to be a high-risk merchant. Every provider has different labels and criteria for high-risk accounts, but in general, you can expect: 

  1. High volume transactions: Merchants are considered to be high-risk when they have a large volume of transactions. If they process over $20,000 per month or have an average of $500, then they are classified as high-risk. 
  2. Accepts international payment: In case merchants sell internationally, then there are multiple chances of fraud. 
  3. New merchants: If the merchant has not processed any prior payments or has a lower history of transactions, then they can be considered to be high-risk. 
  4. Belong to a high-risk industry: In case the industry they belong to is a high-risk one. For example, subscription-based sellers are considered high-risk merchants. Because people subscribe and forget to cancel payments later on. Then they charge back payments. 
  5. Low credit score: In case the merchant has a low credit score, then they can be considered to be high-risk. 

What industries are considered high-risk by high-risk credit card processing highriskpay.com?

When planning to become a merchant with high-risk credit card processing highriskpay.com, you need to know if your industry is considered to be high-risk or not. Some businesses that fall into the high-risk category are:

  • Adult Industry 
  • Gambling 
  • Online dating 
  • Furniture and electronic stores 
  • Subscription companies 
  • Debt collectors 
  • eCommerce 
  • Multi Level Marketing 
  • Travel agents, vacation planners, etc

High-Risk Account vs Low-Risk Account

Traditional merchant accounts or low-risk accounts have fewer chargebacks as the products sold are not questionable. The placement is guaranteed for the merchant service providers as they are hassle-free. In other words, the customers have every intention of paying for purchases as the credit card statement arrives. High-risk credit card processing highriskpay.com comes with a higher likelihood for the customers trying to come with the product without paying for it.

A low-risk account has a low chargeback percentage, and the high-risk credit card processing highriskpay.com relies on the fact that they have trouble-free transactions. The provider can put simple stipulations on the account agreement so that owners can only sell products that are not fraudulent or morally questionable. In case the merchant starts getting a chargeback pattern, then the high-risk credit card processing highriskpay.com has the right to end the agreement. But in the case of high-risk accounts, the potential losses are taken into consideration before the contract is signed, and the account is kept active even post chargebacks.

What do you mean by the Cost of Opportunity?

A traditional merchant account has some fees involved. The account provider can remove the processing fees and service fees from transactions in the case of traditional merchant accounts. But a high-risk credit card processing highriskpay.com account has more requirements and higher fees.

In the case of high-risk accounts, if a chargeback happens, then the provider takes the amount from the business owner or the account holder, and the customer gets a refund. With low-risk accounts, this happens infrequently, as the provider does not need to keep a balance in the depositor’s account. On the other hand, a high-risk account has to keep a specified amount during any given time for up to 6 months.

High-risk merchants also need to set aside 5% of the average monthly transactions as a chargeback. The amount with the length of a time requirement means that the business owner has to wait longer to receive their money. Processing the monthly fees is also higher in the case of high-risk account holders. But the acceptance of credit cards helps increase sales. This overcomes any losses incurred in chargebacks and retains money.

FAQ about high-risk credit card processing highriskpay.com

i) What do you mean by a high-risk merchant account?

High-risk credit card processing highriskpay.com will label you as a high-risk merchant if there are options of high chargebacks, fraud, longer delivery periods, or larger transactions. High-risk merchant accounts are required to pay higher fees to calculate this risk.

ii) What type of businesses does high-risk credit card processing highriskpay.com accept?

High-risk credit card processing highriskpay.com accepts all high-risk, retail, subscription, adult, gambling, and others.

iii) How long can it take to get approval for high-risk merchants?

It can take anywhere between 24-48 hours to get approval.

iv) Does accepting credit cards have any advantages?

Yes, accepting credit cards online does have a bonus. Credit card transactions are processed quickly. This means that you eliminate your waiting period and in turn improve your cash flow. Also, customers are more willing to pay using their credit cards as it protects them from fraud.

v) What happens if I have bad credit?

High-risk credit card processing highriskpay.com has the highest approval rate in the market. They approve regardless of case history.

vi) Do I need to have a bank account or a business checking account to accept credit cards?

You will need both – a bank account and a business checking account so that you can receive payments from customers. But, if you have sole ownership of the business, then you can deposit them into your personal account.

Conclusion

When looking to get support in your business for online transactions, choose high-risk credit card processing highriskpay.com. They help you avoid chargebacks, and decrease the chance of lost sales. With their 24-48 hour approval options and their acceptance of business owners even with bad credit, they are not afraid to help clients who are in difficult situations. Also, high-risk credit card processing highriskpay.com are not scared to work with businesses that have gone through bankruptcy, or foreclosure and have low credit scores.

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Richard Smith

I am Richard Smith from the USA. I’m an Email Marketing Specialist. I have my own blogging site blogest.org. where people will get all Paid Campaigns and Email Marketing and blogging information. I like to encourage and motivate the new youth generation who want to learn Digital Marketing.

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