We have been discussing about diverse aspects of the high-risk merchant account industry for years and have probably reached on most, if not all of them, of the most important problems. Here are some more tips on high risk merchant account processor.
High-risk merchant accounts are a collection of financial services that offers businesses to receive card payments from clients. Credit card processors assign merchants to one of two categories: high risk or low (normal) risk, based on a number of factors. High-risk merchants face limited choices in processors, plus raised fees and strong binding contracts. Being named as high-risk looks bad. But in some cases, it can be your only option.
It’s practically impossible for eCommerce merchants to operate without accepting credit or debit cards. Before you can accept “plastic,” you have to use a payment service provider who acts as a liaison between you, banks, and credit card networks.
A lot of financial service providers do business only with with low-risk businesses, who they consider as a low risk investment. That means businesses considered high-risk will have a very small selection of potential payment services to choose from. Any processor you approach will take a careful, detailed look at your business to determine if you fall under their definition of “high risk,” based on the financial risk your company represents.
Here are some high risk credit card processors : PaymentCloud serves a range of business types–including high-risk merchants–with a reported 98% approval rate for new merchants. Pricing is based on business history, and the company has no application or account setup fee.
eMerchantBroker.com is a Los Angeles-based credit card processor that primarily serves high risk e-commerce business types. The company’s high risk processing services include chargeback dispute resolution, an online payment gateway, ACH processing, merchant cash advance, and MOTO processing options. eMerchantBroker.com has maintained a low complaint rate since our first review of the company and appears to offer custom pricing plans depending on each business’s type and processing history.
We worked with all of the high risk credit card processors, to be able to compare and our pick was HRMA-LLC. They cover all business types, have a vast experience in the business, fast customer support and low fees.
Do you have a business related to CBD merchant accounts ? HRMA-LLC can help you. Read more details on High risk merchant processing.