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High Risk Merchant Accounts : 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 High Risk Merchant Accounts 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 High Risk Merchant Accounts can directly access the card and ensure that it is a legitimate customer, thereby the risk involved is minimal. The second type of High Risk Merchant Accounts 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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High Risk Merchant Accounts : 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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High Risk Merchant Accounts : 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 High Risk Merchant Accounts 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 High Risk Merchant Accounts can directly access the card and ensure that it is a legitimate customer, thereby the risk involved is minimal. The second type of High Risk Merchant Accounts 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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High Risk Merchant Accounts : Things to Note and Avoid

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Perhaps one of the biggest difficulties of being a merchant in the online adult industry is trying to accept payments from customers. It's not that your customers don't want to pay you, it's that the number of financial institutions willing to provide you with the capabilities to accept credit cards is small, and most of those have extremely high rates which means your profit is diminished greatly.

As a merchant in the adult industry, your number one priority is to find a merchant service provider with the lowest possible rate. However, it's also important to find a solution that is stable and reliable - if your provider is not adequately prepared for high risk merchant solutions then chances are there will be problems, the last thing you want is to have your money frozen or lost!

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TheGrandFoundation.com Specializes in Reviewing Merchant Accounts

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High Risk Merchant Accounts Instantly

High Risk Merchant Accounts : 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 High Risk Merchant Accounts 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 High Risk Merchant Accounts can directly access the card and ensure that it is a legitimate customer, thereby the risk involved is minimal. The second type of High Risk Merchant Accounts 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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High Risk Merchant Accounts : Things to Note and Avoid

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What is a Merchant Account? A retail establishment is able to accept credit cards, debit cards, electronic gift and loyalty cards through the medium of a "merchant account" established with a credit card processing firm. Merchant accounts or credit card processing services are provided by merchant banks or Merchant Service Providers (MSP).

A merchant or retail establishment benefits from subscribing to credit card processing services by tapping into the huge potential held by sales generated through card transactions. Retail establishments with card processing services are a preferred choice among shoppers. Providing such payment options invite the shopper to spend a little extra than planned.

Credit Card Processing

The technology used to make acceptable credit card transactions involves a credit card terminal. This is a single piece of electronic equipment with a telephone like keypad connected to a power supply and a telephone connection. A credit card can either be swiped on this machine or details of the card can be manually keyed -in. The telephone connection is required to verify the validity of the card and authorize the transaction. Advancement in technology allows the same verification process to be completed through the internet or cellular networks.

Considerations in Subscribing to a Merchant Account

The financial gains and expenditures must be taken into account to devise a successful method to accept card transactions profitably or at a low cost. The key aspects that must be considered in deciding a favorable merchant account must include:

  • The cost of the credit card terminal
  • Charges or rates specified by the Merchant Service Provider
  • Scope of Transactions
  • Application and Setup costs
  • Acceptability of major credit cards and
  • Security of transactions
"Scope of transactions" implies the ability of the service and the terminal to accept transactions involving a wide variety of payment methods. Payment methods include: credit cards, debit cards, gift cards, loyalty cards, electronic cheques, private label cards or store cards and other smart card technologies. accept credit card payments with quickbooks

TheGrandFoundation.com Specializes in Reviewing Merchant Accounts

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High Risk Merchant Accounts : 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 High Risk Merchant Accounts 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 High Risk Merchant Accounts can directly access the card and ensure that it is a legitimate customer, thereby the risk involved is minimal. The second type of High Risk Merchant Accounts 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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If you are the owner of a company that has yet to set up a merchant services account for credit card processing, odds are your company is either very new or very old.

For new companies just getting started, there are so many other things to worry about while getting set up that credit card processing can seem too confusing and intimidating to jump right into. On the other hand, there are plenty of older businesses that have been thriving for years which may have an "if it ain't broke, don't fix it" attitude.

But the plain fact is that the ability to process credit card transactions is only going to become more necessary as the years go on. And while business may be booming without using merchant services today, it may not be that way in the years and months to come.

Luckily, there are merchant service accounts for companies of all types and sizes, and with just a little bit of research you will quickly realize that credit card processing is not nearly as complicated as you may suspect. For starters, let's take a look at the different types of merchant accounts and figure out which one is the right fit for your company.

Retail Swipe Terminal

Does your company deal with the customer face-to-face? Do you have a real "bricks and mortar" business and handle most of your transactions in real-time? Then you are a perfect candidate for a retail swipe terminal.

Wireless Merchant Solutions

Are you a merchant who is literally "on the go"? Do you own a vending cart or do you your sales while on the road? There are two types of mobile solutions that can help to grow your business.

The first is a touch-tone solution. This is a great option for smaller merchants who can't afford a high start-up cost. You simply take your customers credit card information and process it manually over a touch-tone phone.

If, however, you can afford the startup cost then the best way to go is to actually buy a wireless swipe terminal. This pays off in the long run because many of the free terminals have high termination fees. After you have purchased the wireless swipe terminal it works just like any normal retail swipe terminal.

The time to take advantage of the world of merchant services is now. More and more businesses every day are discovering credit card processing solutions that are allowing their businesses to grow beyond their wildest dreams. Don't get left behind. Get on board today.

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TheGrandFoundation.com Specializes in Reviewing Merchant Accounts

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