How to Secure the Best High-Risk Credit Card Processing Account?

by Confidential Banking #1 Merchant Processing Services

For any business, beginning to accept credit cards as a means of payment can yield substantial increases in both the company’s customer base and its profits. But for online businesses that operate in the “high-risk” industry, the need to accept credit cards is a critical component of any business that hopes to thrive — or even continue to operate — on the world wide web.

Studies show more than 90 percent of customers who shop online use credit cards as the method to pay for their purchases. More than 90 percent! If you aren’t accepting credit cards at your online business, that’s a huge potential loss of customers and profits.

Opening a high-risk credit card processing account — the vehicle that will allow you to accept credit cards for purchases of your business’ goods and services — is a simple process. And the fees associated with maintaining your account are lower than ever before.

What is a high-risk credit card processing account?

A high-risk credit card processing account, better known as a high-risk merchant account, is designed to specifically meet the credit card processing needs of a business that is operating in the high-risk industry. These may include online pharmacies, casino and poker sites, bitcoin trading desks, travel service providers, realty listing sites, Voice over IP (VoIP) Companies, and more.

Using special, proprietary software, a merchant account helps process credit card transactions, from the moment the information is entered into your online shopping cart system to the moment the transaction proceeds are transferred and deposited into your business bank account.

How to get the best credit card processing account for your unique business needs?

When you decide the time is right to venture out and consider which account services and options are right for your own online business, consider the following tips to help ensure you get the best credit card processing account for your business’ needs:

- Research top high-risk merchant account services providers who have experience working with other businesses in the same industry as yours.

- Read the terms and conditions on the account application, and don’t be shy to ask questions. This will only help prevent unpleasant surprises further down the road.

- Be honest with the service provider. Make sure they know as much as they should about your industry and the nature of your business.

- Ensure the merchant services provider you choose offers other services to meet all of your needs related to payment processing. For example, high-risk echeck processing.

- Choose a service provider who does not lock you into long-term contracts. You can never anticipate the processing needs of your business in the future. Find someone who delivers flexibility, so you can change your services if the needs of your business change.

- Finally, choose a high-risk merchant account services provider who values customer service, one who makes it a point to provide 24/7 support and troubleshooting.

Opening a merchant account is the first step in accepting credit cards for your online business. All you need to do is keep the tips mentioned above in mind and choose a high-risk merchants services provider that will help ensure your online venture is successful — and fruitful.