Your Account Is High Risk: Credit Card Processing Companies Can Help
If you have recently found out that your business account is high risk, never fear. There are steps you can take to ensure that your company can still process credit cards for your customers.
Do Your Research
Make sure, after finding out that your account is high risk, that you do your research. Define for yourself what “high risk” means. Is it because you have been turned down by a few credit card processors that told you they deem you a high-risk merchant? Are you selling less-than-mainstream items, or have what others think of as “strange” marketing tactics? Those could all be reasons that you have been labeled as a “high risk.” However, knowledge is power, so knowing why you were turned down by a credit card company can help you find the best high risk credit card processing companies for you to consider as your next step.
Doing some helpful Googling also helps. Define what a “high risk” merchant is, and also what “high risk credit card processing companies” are. When you have all the facts, you will know the best course of action to take.
Keep in mind that high risk merchant accounts are often necessary for commercial enterprises where there is a higher potential for fraud and chargebacks. Most online businesses receive merchant services with little obstacles, while any that are thought of as high risk will have to go through some red tape, especially through domestic providers.
Why High Risk Credit Card Processing?
High risk credit card processing companies offer several benefits to their clients. And if you fall into any of the below categories, you may want to consider a high risk credit card company:
- Your business is a startup
- You have an unproven credit history
- Your business has quickly grown from small to large in a short period of time
- An average transaction is more than $500
- You have had credit problems in the past
- Your business is considered “high risk,” like an online pharmacy or jewelry company
- Your company offers a “free trial” and a recurring monthly payment
- You process a high amount of credit card transactions of over $25,000 per month
Find the Right Credit Card Company
By figuring out the best high risk credit card processing companies for you to take into consideration, you are well on your way to being able to have your customers use credit cards at your online or brick-and-mortar store once more! There are many high risk credit card processing companies that offer competitive rates, secure and verified transactions, and chargeback prevention programs.
Companies like Allied Wallet offer the best payment processing in the industry, low transaction fees, and our customers are always 100% satisfied. Contact us at your convenience to find out how we can help you get started on a high risk merchant account.