It’s virtually not possible for eCommerce merchants to do their business without receiving payments from credit or debit cards. Before you can take “plastic,” you have to use a payment service provider who acts as a liaison between you, banks, and credit card networks. Many financial service providers do business exclusively with low-risk merchants, 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.
Do your Due Dilligence: If you Google »merchant account services«, you’ll most likely be overwhelmed by the results showing all the different providers for accepting card payments, either for ecommerce, MOTO, or High Risk merchants. It is important that you know who are you applying with. First, you need to find out if you’re applying for a Direct MID (merchant account directly with the acquiring bank) or Aggregate MID or Payment Facilitator MID (more merchants share a single MID). Try to get the answers to following questions: Are you working directly with the acquiring bank or a middle-man Payment Service Provider company (PSP)? Where is the provider and acquiring bank based? Are they EU/UK regulated Financial Institution and have their own PCI compliant gateway? Do they already process payments for other businesses in your niche? Can you find any complaints online?
Host Merchant Services is a Newark, Delaware-based merchant account provider that is well-suited for most general business types as well as domestic high risk merchants. The company’s products and services include point-of-sale solutions (with specific packages for the restaurant, salon, professional service, and contractor sectors), online marketing tools, an online payment gateway and virtual terminal, mobile credit card processing, gift and loyalty programs, merchant cash advance, and offshore merchant accounts. Host Merchant Services specializes in e-commerce businesses and provides a free website and email address to new merchants who require them. The company has received exclusively positive feedback on public forums, with most reviewers singling out the company’s customer service for praise.
List of high risk merchant processors in 2019. This is a popular subject as more countries open up to new products. High-risk merchant accounts are a subset of financial services that offers companies 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 harsh contracts. Being labeled as high-risk sounds terrible. But in some cases, it can be your best option. We have been talking about diverse aspects of the high-risk merchant account business for many years and have almost sure reached on most, if not all, of the most decisive issues. Here are some more advices on best high risk merchant account. Read more details on High risk merchant account fees.
HRMA-LLC specializes in high-risk merchant accounts and ACH processing for high-risk business verticals. They offer payment processing for practically every high-risk business type. HRMA-LLC offers fast approvals with no setup fee. We worked with all of the high risk credit card processors, to be able to compare and a strong choice is iPayTotal. They cover all business types, have a huge experience in the field, fast customer support and low fees.
How does being a high-risk merchant affect getting a merchant account? Quite frankly, it makes it a lot harder and more expensive. Despite the intense competition within the merchant account services industry, getting approved for a merchant account is never a sure thing. Providers have to balance the risk presented by a merchant applying for an account against the potential profit to be made from the account if it is approved. In most cases, they err on the conservative side of things, meaning high-risk merchants simply aren’t approved for an account.
We believe in fostering real long term relationships with our clients, and always go the extra mile to make sure our customers are happy. We offer 24/7 technical support to ensure that when a problem arises, it can be quickly and efficiently addressed by one of our professionals. We want you to do well and your business to grow. We believe it is of the utmost importance that the needs and expectations of clients are systematically defined and translated into prerequisites that are fully met, through the correct application of the Quality Management System in order to always ensure the highest degree of satisfaction.
IPAYTOTAL LTD
Company Address: 60 Windsor Avenue London, England SW19 2RR
Company Website: https://ipaytotal.com/.
Support Email: support@ipaytotal.com
UK Tel:+44 800 776 5988
US Tel:+1 845 215 4017
Company # 11357725