Why Choose Us!
- Fast 24-hour approval
- Accept bad credit
- No application fees
- No setup fees
- Chargeback prevention
The rate of risk is different for every business. Some businesses are considered “high risk” by financial institutions because of the nature of their industry, products or customer base. These businesses need separate merchant accounts to manage payments to run smoothly despite their challenges. These accounts are known as high risk merchant account.
A business that has more chances of financial loss, fraud and chargebacks. These businesses operate in industries prone to fraud or overcharging due to huge transactions. Such industries may include:
These industries have regulatory problems, have large transaction volumes, or have a history of financial instability, increasing the risk for providers and traditional banks.
Such businesses face more challenges while applying for trading accounts, higher processing fees, longer holding times and increased security measures to reduce risk.
Overall,High-risk merchant accounts are essential for businesses in risky industries to payments processing. These accounts provide fraud prevention, chargeback management, and support services to maintain stability and profitability.
A company can be classified as high risk for many reasons:
Effective sales strategies involve identifying potential customers, understanding their needs and preferences, and tailoring products or services to meet those needs.
Providing excellent help and support involves understanding the needs and preferences of customers, being available to address their questions and concerns, and providing timely and effective solutions to their problems.
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Finding a reliable provider is difficult, but it is essential to successful business . A reliable provider has following qualities:
High-risk businesses can take steps to reduce risk. Here are some best practices:
You’ll come across a variety of services and solutions while looking for the finest high-risk payment processor. To pick the ideal processor, you must first understand your company’s demands and capabilities. You might need one that is willing to onboard an Adult business that has been abandoned by a major merchant, or a CBD company that is looking for a long-term solution
A high risk merchant account can be approved instantly for certain businesses and sectors. Banks will, in most situations, wish to analyze your processing history and sales volume on an individual basis. Each company is distinct and has its own set of requirements. If you don’t qualify for rapid approval, Easy pay will endeavor to expedite the processing of your application. Between the start of the application and final approval, it usually takes five to ten business days. For most high-risk accounts, this is standard
Due to the high amount of charge backs, many businesses are classified as high risk. High charge backs happen when your product or supply chain is inconsistent, or when customers try to take advantage of your business. We work with our colleagues at Easy pay to decrease charge backs and get you approved for a merchant account that is tailored to your specific needs.
