Types Of Businesses That Can Use Our High Risk Service

For businesses labeled “high risk merchant“, acquiring a traditional merchant account by a main stream financial institution can be problematic. There are many reason why a business may be labeled high risk for example:

• Sales volume.
• Type of product being sold.
• The probability of there being issues with an account based on the industry.
• The risk of an account getting turn down or closed based on industry regulations runs high.
• Errors on the part of underwriters such as incorrect volumes or dollar amounts put a business in jeopardy and could even result in the business being listed on the black ball list.

These are just a few reasons why some businesses turn to high risk merchant account providers.

Issues with charge backs are the main reasons why some businesses are considered high risk merchant accounts. A charge back is a forced return of funds to a consumer. Charge backs fall into four general categories: clerical errors, such as duplicate billings, or incorrect billing price, quality errors, or when a consumer claims that they never received the product, fraud, when a customer says they never approved the transaction or claims identity theft, and technical errors, such as past expiration dates, or insufficient bank funds.

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 Merchant and Credit Card Fraud

Remember…always keep up to date with merchant account fraud and credit card fraud education! Please see the following to help advise about credit card fraud and merchant account fraud and how you can avoid the issue:

PCI | FBI | FTC | Stop Fraud .gov | HG | USA.gov | DOJ | SS | FFIEC | CSOS

Contact us anytime with your merchant processing questions.