Need Merchant account for high-risk business? How to Find One?

Searching for a merchant account for high risk business is like walking into a store. You come across many alternatives, all promising similar benefits, but in different ways. Each one highlights the things that appeal to you standing out from others that surround it. But, in the end, when you know what you are looking for, makes the weighing process far easier.

So, here comes in this post acting as your assistant. This blog will enable you to assess your business so that you can choose the one that would suit you best. But first, its good to know the different available types when you apply for a merchant account:

Regular merchant account

Not every business requires a high-risk merchant account. If you are a small sized business or in the initial stages of development, this is the perfect option for you. It has reasonable maintenance charges and lower fees than online merchant accounts. However, if you have been scratching your head for weeks in search for a Merchant Credit Card Processing provider because getting the typical ones seems to be an impossible venture, consider getting an online merchant account.

High-Risk online merchant account

This type of accounts, by far, has high transaction fees. But here is good news. Since most start-ups are trying to make a mark in the online business industry, the need for high-risk merchant accounts has increased. That made card providers to drop the price, and if you are reading this, you are quite lucky. It is great if you have high risk handling accounts connected to your card. Further, it is the best type, to cut-off the tyranny of converting the currency of sales.

Specialized High-Risk Credit Card merchant account

It is the account for you if your online firm needs specific credit card handling or off-shore processing. You need to identify whether you need a bank or ISO. The underlying thing that differentiates these two is

Banks are more worried about security and authority whereas

ISO's are usually more lenient, focusing on increasing the revenue

Thus they offer a broader range of services. But when it comes to the costs, they are a bit more than what banks charge.

Pro Tip: You must assess the type of business you manage. It will help you get an idea of what will suit you the best.

For transaction fees, it is vital that you designate the right one for your business. If your sale revenue volume is not high, you will do well to keep monthly costs as low as possible. If you sell inexpensive products, you are better suited for low charges and increased ratio business dealing fees.

Evaluating Tips to find the right merchant account for high-risk business

Below are a couple of hints on how to evaluate your prospective internet merchant account provider. After all, you will want two things:

          ·         The merchant account provider must fulfill your business needs and

          ·         They must have the perfection to aid you worry-free business operations

A couple of questions below will help you get started. Read on.

Start by asking yourself:

       1.    What are the credit card companies that your chosen online merchant account can deal with?

      2.    Are they viable with processing global cards or are stipulated to a particular region only?

Taking these factors into account, you must proceed to the next step of research. In this step, you must analyze the features that they have on offer. Like for high-risk business, there are always chances of frauds or bouncing-back transactions. So, make sure, that you have all the details clear before investing.

In the final step, you must look for the following from your merchant account provider:

1.    Agreeable conditions

2.    Legalized documents for safety

3.    Options to withdraw or shift to other merchant account providers and

4.    The right resources to tackle disputes within a short time

In a Nutshell

Now that you know the types and the things to know to find the right provider, tally the prices. Among the plethora of online providers, it is necessary to check the prices because per transaction fees vary greatly. If you have a stipulated budget, stick to it and structure your search. If not, companies can trick you into paying less at the initial stages and charge you more when you are all set.

Now, if you think that this post helped you get some info about merchant account for high risk business, hit that share button. Also, keep following the post for comments and updates.

For more information explore our Social Media page:https://www.facebook.com/ipaydna

Read more

Things to Know about International Prepaid Debit Cards

What is International Prepaid Debit Cards?

It is a credit card that has a stored value in it. It is the amount of money you put into the card. Think of it as an ATM. Only here the difference is – a prepaid card can be used to pay for items in a store at anyplace in the world that accepts it. Also, when you withdraw money from it, there is a definite charge you have to bare. Since it is a prepaid card, you are spending money that is already stored in it.

A quick look at some of its advantages

        ·   Since you already have money stored in it, you will no longer have to wait or worry                about  billing dates.

        ·    In a prepaid credit card, the money is safe unlike carrying cash.

       ·    If by any chance you lost the plastic in foreign soil, you can ask for a replacement at the        card company, and get back the amount you had in it.

Note: Report the missing plastic as soon as you realize that it goes missing. It is necessary because the issuer will then block any unauthorized transactions may it be online, on-phone, or in-store.

Advice: If you wouldn't report your stolen or missing card, chances are other people will use it.

What must you know before selecting one?

      1.    When choosing the best type of international prepaid debit cards, you have to consider          many things. Some of them are:

    a)   The monthly payments

    b)   The type of card and

  c) Determining your lifestyle and spending   pattern to identify your purpose for getting one

Note: Monthly fees are present in almost all prepaid debit cards. You can either look for the           ones that are not that expensive or go with the ones that come at reasonable rates                and offers reliable service.

     2.        Next, you must know the type of card before getting one. The preferable choice is to              get a MasterCard or a Visa. Why? The below points will aid an answer.

 •   A MasterCard or Visa is the most accessible type on the market. They get accepted at almost all          retail establishments.

•    Internet shops prefer plastic cards as a method of payment because they are cheaper and easy to           deal with

•    Both the MasterCard and Visa have international accreditation. So whenever you would need to            travel out of the country, you could still use it.

Don't overlook the incentive programs!

Some prepaid debit cards offer a lot of promotional activities. If you want to avail the one with promotions, choose a card that gives it for free. Some card issuers offer promotions but charge extra to be able to participate.

Pro Tip: An excellent example of a great promotion is one that offers rebate programs.

Finally,

The best international prepaid debit cards are the one that will offer you all the significant advantages while minimizing those annoying disadvantages. It all depends on your lifestyle and how you want to make your expenses.

Follow our facebook account and get more information our services https://www.facebook.com/ipaydna

Read more

How Merchant Credit Card Processing Service can Help?

If your consumers are asking for credit card processing services, you must add it to your online business? It will help you provide suitable payment methods that will help you get repeat business. Today, many companies are moving towards e-commerce. It means if you want to avoid getting left back; you must join professionals who excel in the electronic age.

Realizing tasks in the present scenario

Until now, you might have relied on cash transactions. But did you realize that sometimes it becomes challenging! Like

      1.    Tendering the correct change

      2.    Accept checks that might bounce or

      3.    Track overdue payments while keeping a track on every transaction

Hiring professionals for maintaining such chores can be costly. And that is why you may credit card processing services can help. Also, if you run an onsite business at a primary facility, plugging in a credit card processor can help you a lot. You can start taking credit payments, which have minimal chances to bounce like personal checks!

Start with a merchant's account

You will have to open a trader's account for getting merchant credit card processing services. Look for a company which offers merchant accounts to business owners like you. Then provide the needed documentation. It must dispense a stable credit history along with a reasonable business plan. With the approval that can come in a few days; you can then buy or rent payment processing tools. What more? You can start taking credit payments from your buyers.

For Your Online Store

Also, you can setup credit card processing on your company's website. If you don't have a website, you must consider having one. Because, in the 21st century, everything is online! And if you are not having one, the chances are, you are falling behind your customers. When your website is up, and your Merchant account for high-risk business gets approved, you are ready to accept new clients for your business. They can browse your products and pay by credit card without human assistance. You can make money and save money both at the same time.

Finally,

If your company is expanding and your clients are asking about credit payments, that's it. You must get your hands on merchant credit card processing services. Also, if you want to move forward with your business plan, open a merchant account and set up a website. With payment processing taking care of your business transactions, you are sure to give the much-needed convenience and customer services option of credit card processing services.

Get more information our services and news like us https://plus.google.com/+IpaydnaBizonlinepayment

Read more

High risk Payment Processing Comes with a Merchant Account

A merchant account is a bank a/c designed to accept credit card payments. The options that you offer to your customers through this option are many. They can pay using a credit card terminal or through a shopping cart available in your company's web page. As a business owner, for accepting payments, you will need a merchant account.

What must you know?

The following points will assist you to understand the facts associated with this account and processing.

  1.  What are high-risk businesses? It includes

1.   Adult services providers
2. Online gaming business
3. Casinos and similar lines of business 

  2.    You might find it hard to get a merchant account. It is because of the risks of frauds involved with the high turn-over.

  3.    The result is that banks stay away from providing Internet accounts to merchants. They do it to keep away from probable chances of fraudulence. Thus you have to turn to private institutions offering merchant account services.

 4. After acquiring a merchant account, you will need a payment gateway account. It is the processing account, which verifies the authenticity of the used credit card. After that, it then transfers the funds to your merchant account. This is high risk payment processing.

 

How does it work real-time?

  1.    The customer inputs his credit card info on your payment gateway web page. Also, it must be a secure web page. It means the page must be encrypted so that it remains inaccessible to any third party. This is mandatory to reduce frauds.

  2.    Next, the shopping cart application then collects the information. It transmits it to the credit processor - the payment gateway. The processor validates the information and determines the company that manages the customer's credit card. Once authenticated, it then transmits the billing request.

  3.    With the receiving of the request, it then sends back an acknowledgment to the payment gateway. If the information is authentic, it initiates the fund transfer to your account.

  4.    The merchant account collects the funds for a specified time. Then it transfers the amount to your account associated with the payment gateway.

Third Party Providers - What you must know?

Since there is hardly any chance that you can connect with a bank, the following pieces of info will thus be of much importance to you.

  1.    Processing fees for third party merchant account providers are higher than traditional ones

  2.    It works in the same way for both merchant and third party accounts. The difference is, instead of paying to the merchant's website, they pay on the third-party processor's website. The rest of the high risk payment processing works the same way.

Finally,

It is the only thing that can give you increased sales. Once your customers can pay with the means they want, they will want to come back and use your services.

If you think that there is more valuable info worth adding, post them in the comments. Also don’t forget to share this post and help others.

Read more