Merchant Credit Card Processing Providers Review

Merchant Credit Card Processing : Best Reviews of 2018

Merchant account is a contract between a business and a bank or a financial institution. This contract ensures that the bank accepts payments for the products or services on behalf of the business. These Merchant Credit Card Processing acquiring banks ensures that a merchant or company can accept payment from international customers for the products or services they deliver. Thus merchant accounts form a vital part of any E-commerce business.

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There are two types of merchant accounts. First is the normal account, where the Merchant Credit Card Processing can directly access the card and ensure that it is a legitimate customer, thereby the risk involved is minimal. The second type of Merchant Credit Card Processing involves the accounts where it is not possible to visually testify the customer. These types of accounts include adult entertainment merchants, online tobacco merchants, replica merchants, online gambling merchants, pre-paid calling merchants, VOIP merchants, multilevel marketing merchants, or any transaction that takes place with the customer physically not present. Thereby, the possibility of fraud activity is much greater with this type of business which results in classifying these types of accounts as “high risk” ones. Naturally, these high risk merchant accounts present the risk of the dreaded charge backs for the banks in question. It has been proved by various researches that these high risk processing transactions are more susceptible to fraudulent transactions.

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Merchant Credit Card Processing : Things to Note and Avoid

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Although many business owners use the terms, "return" and "chargeback" interchangeably, they do not have the same meaning. A merchant return is simply a means to repay a customer who decides not to keep a product or retain a service. Often, when a return is initiated, a merchant may credit the customer's account on the same credit card that was used initially at the time of the transaction. Store credit may also be an option when a customer requests a return.

The business practice of a return is between the merchant and the customer, and does involve any third party, such as the merchant account provider, it's acquiring back, or the cardholding associations.

In contrast, a chargeback typically involves third parties. Here, the customer does not announce dissatisfaction with the product / service (or bewilderment in even receiving the charge) to the merchant, but rather to the card-issuing bank. The merchant is eventually notified and can try to "win back" the funds that were taken away as a result of the chargeback.

Consequently, many merchants don't realize that if their chargeback ratio is 1-2%, their credit card processing account may be closed. Surprisingly, even refunds are calculated in this ratio, although their assigned "weight" is less than actual chargebacks. (I don't know the formula but I'm guessing that 5-10 refunds equal one chargeback.)

Ethical and fair-minded business owners, especially those who run businesses with solid past credit card processing records, need not worry too much about the possibility of a closed merchant account. As time elapses, the relationship between the merchant account provider and business owner develop and a great sense of trust between both entities develop.

Of course, the objective of any business owner must be to eliminate or reduce the frequency of refunds and chargebacks - both of which can hinder a business's growth. Indeed, refunds vs. chargebacks is a losing game for any merchant.

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TheGrandFoundation.com Specializes in Reviewing Merchant Accounts

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Merchant Credit Card Processing : Best Reviews of 2018

Merchant account is a contract between a business and a bank or a financial institution. This contract ensures that the bank accepts payments for the products or services on behalf of the business. These Merchant Credit Card Processing acquiring banks ensures that a merchant or company can accept payment from international customers for the products or services they deliver. Thus merchant accounts form a vital part of any E-commerce business.

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There are two types of merchant accounts. First is the normal account, where the Merchant Credit Card Processing can directly access the card and ensure that it is a legitimate customer, thereby the risk involved is minimal. The second type of Merchant Credit Card Processing involves the accounts where it is not possible to visually testify the customer. These types of accounts include adult entertainment merchants, online tobacco merchants, replica merchants, online gambling merchants, pre-paid calling merchants, VOIP merchants, multilevel marketing merchants, or any transaction that takes place with the customer physically not present. Thereby, the possibility of fraud activity is much greater with this type of business which results in classifying these types of accounts as “high risk” ones. Naturally, these high risk merchant accounts present the risk of the dreaded charge backs for the banks in question. It has been proved by various researches that these high risk processing transactions are more susceptible to fraudulent transactions.

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Merchant Credit Card Processing : Things to Note and Avoid

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Opening a merchant account can prove to be a great turnaround for your business. This is so because you will be able to welcome more customers who would like to pay with their credit cards and this means that your business will definitely grow. So while this means that you will see a lot of new customers come in, there is also the issue of operating the merchant account properly. The merchant account is the gateway between the credit card transactions processed by you, and the credit card companies, which will transfer your money into this account. The first thing that you need to do is to open a merchant account, and you need to know that there are certain fees associated with this process.

First up is the account opening fee. Actually this fee has been scrapped by a number of providers, but there are a still a few of them out there who charge you a fee for opening a merchant account with them. It is not recommended that you choose such a provider, unless their other rates seem good to you.

Finally, there's the cancellation fee, if you ever want to close your merchant account. Look for processing providers who keep this fee to a minimum, or else you will have a bitter experience when you decide to close your merchant account.

This is a brief summary of the various kinds of fees involved in opening a merchant account. Do not get nervous about so many details, because the provider will explain everything in detail and will make it easy for you to handle the entire process.

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TheGrandFoundation.com Specializes in Reviewing Merchant Accounts

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Merchant Credit Card Processing : Best Reviews of 2018

Merchant account is a contract between a business and a bank or a financial institution. This contract ensures that the bank accepts payments for the products or services on behalf of the business. These Merchant Credit Card Processing acquiring banks ensures that a merchant or company can accept payment from international customers for the products or services they deliver. Thus merchant accounts form a vital part of any E-commerce business.

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There are two types of merchant accounts. First is the normal account, where the Merchant Credit Card Processing can directly access the card and ensure that it is a legitimate customer, thereby the risk involved is minimal. The second type of Merchant Credit Card Processing involves the accounts where it is not possible to visually testify the customer. These types of accounts include adult entertainment merchants, online tobacco merchants, replica merchants, online gambling merchants, pre-paid calling merchants, VOIP merchants, multilevel marketing merchants, or any transaction that takes place with the customer physically not present. Thereby, the possibility of fraud activity is much greater with this type of business which results in classifying these types of accounts as “high risk” ones. Naturally, these high risk merchant accounts present the risk of the dreaded charge backs for the banks in question. It has been proved by various researches that these high risk processing transactions are more susceptible to fraudulent transactions.

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Merchant Credit Card Processing : Things to Note and Avoid

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High risk merchant account providers are the designated partners of the banks specializing on high risk online businesses by setting-up a merchant account, acting as the processing gateway, and protecting them from fraudulent transactions.

High risk merchant account providers specialize on businesses with higher risk and greater incidence of fraud involved. They provide services like setting-up a merchant account, acting as the processing gateway, and protecting clients from fraudulent transactions. A business is considered high risk when it falls under any of the following category: not a registered entity, blacklisted by processing companies, generates large volume of transactions, shows inconsistent and unstable credit history.

With the advanced technology, there is an increasing demand for high risk providers to make online business transactions possible and secure. When choosing for the right service provider, the following good qualities should be present: offers a quick approval time, charges reasonable set-up fees, allows real-time online processing services, provides fraud protection facility, offers diverse payment schemes, and has 24/7 technical support.

Since there is a tough competition among several high risk account providers, make sure you make a comparative analysis about their services and fees before applying. Not all are equipped with risk management features to secure your business.

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TheGrandFoundation.com Specializes in Reviewing Merchant Accounts

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Merchant Credit Card Processing Providers Review

Merchant Credit Card Processing : Best Reviews of 2018

Merchant account is a contract between a business and a bank or a financial institution. This contract ensures that the bank accepts payments for the products or services on behalf of the business. These Merchant Credit Card Processing acquiring banks ensures that a merchant or company can accept payment from international customers for the products or services they deliver. Thus merchant accounts form a vital part of any E-commerce business.

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There are two types of merchant accounts. First is the normal account, where the Merchant Credit Card Processing can directly access the card and ensure that it is a legitimate customer, thereby the risk involved is minimal. The second type of Merchant Credit Card Processing involves the accounts where it is not possible to visually testify the customer. These types of accounts include adult entertainment merchants, online tobacco merchants, replica merchants, online gambling merchants, pre-paid calling merchants, VOIP merchants, multilevel marketing merchants, or any transaction that takes place with the customer physically not present. Thereby, the possibility of fraud activity is much greater with this type of business which results in classifying these types of accounts as “high risk” ones. Naturally, these high risk merchant accounts present the risk of the dreaded charge backs for the banks in question. It has been proved by various researches that these high risk processing transactions are more susceptible to fraudulent transactions.

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Merchant Credit Card Processing : Things to Note and Avoid

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Ever thought of starting your own porn site? If you were to do such a thing and charge money for membership, then you would need a high risk merchant account.

What is a merchant account?

A merchant account is an essential account that you need in order to accept credit cards online. If you plan on running a website that allows you to collect fees from those who visit your site, then you can not start doing so without the merchant account.

The high risk merchant account

If you are running a high risk merchant account ,it is most likely that you will have a hard time finding credit card processing options. There are only a limited number of providers who are willing to accept such clients and if they do, their rates are often high. High risk accounts include adult websites, online casinos, and pharmaceutical merchants.

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