You Need To Know About High Risk Merchant Services Provider In USA

About High Risk Merchant Account Services

High Risk Merchant Services Provider in 2015, and 2016. Merchant Stronghold specializes in high risk and offshore merchant accounts.

Our all-in-one merchant accounts include everything that a high risk or offshore merchant’s needs to process successfully. Processing Includes debit and credit card processing, check processing (ACH), payment gateways, and charge-back management services. We help businesses to accept their payments from anywhere, as you are getting POS Machine services, Virtual Terminal, Online Settings to integrate that in your website so that customers can pay on there on. Our services are available via an easy online application. So click on the link and get yourself started NOW

High-Risk Specialists

We’ll get your high risk or offshore business processing right now with Merchant Stronghold’s fast processing system and keep your processing better than anyone else in the market. Here’s how Merchant Stronghold can tangibly help your business:

• We Get You Approved: Our 12 processor relationships ensure 98.7% of accounts are approved and get you start with your business as soon as possible.
• We Get You Setup, Fast: Same day approvals & included gateway integration means you’re ready to take payments faster, without waiting for that big queue.
• We Minimize Your Chargebacks: Our in-house chargeback management tools can lower chargebacks by 72%, so that you can concentrate only on increasing your business outcome, rather than having tension about your chargebacks.

High-Risk Credit Card Processing

High Risk Credit Card Processing is the leading provider of high risk credit card processing for high risk businesses. We help various high risk industries process credit cards, utilize high risk merchant accounts, and accept payments so you can put more money in your pocket without the hassle and additional fees. As high risk payment gateway professionals, our goal is to develop a personal relationship with our clients and to encourage prosperity and longevity for your business. Our priority is to earn your trust as we advise you in high risk credit card processing.

Applying is Fast and Easy For Merchant Account

Our Onlne application is simple, easy, and can be completed in under five minutes. Once we receive your application, we will email you to confirm the information.

 

Why Cannabis Oil Is Big Business | Merchant Account for CBD

Merchant Accounts for CBD
CBD merchant accounts are our most in-demand product, for which we have proven domestic and offshore banking solutions for CBD merchants.
Merchant Stronghold provides the best merchant services for your CBD Businesses.

Legalization brings a lot of opportunities, including many that are unexpected. One of the biggest areas for expansion is cannabis oil. Cannabis oil can mean a lot of different things but most importantly, it’s giving consumers and entrepreneurs a new way to explore and benefit from the marijuana industry. Here’s why cannabis oil is big business, and how any entrepreneur can tap into this nascent market.

The cannabis oil market is huge

There are many different kinds of cannabis oil on the market. All of them are growing in popularity. The CBD market alone is predicted to reach $22 billion in 2022, according to Brightfield Group.

The CBD market is blossoming.

CBD, short for cannabidiol, is the main non-psychoactive compound found in marijuana and hemp. It does not interact with the body the same way as THC and cannot get you high. At the same time, CBD has many of the plant’s most significant medical and medicinal benefits. CBD can reduce seizures in epilepsy patients and a growing body of research finds it useful for reducing pain, acne, anxiety, inflammation and more.

Making cannabis oil is a relatively new and expensive process.

Despite the rising popularity of cannabis oil, it’s still a relatively undeveloped market because of how it’s produced. Technically, cannabis oil is what you get when you extract a concentrated oil from the marijuana or hemp plant. THC and CBD oil are technically in the same category because they’re produced with the same type of equipment.

Creating cannabis oil takes some expertise and a fair amount of equipment. Generally, there are two ways of doing it:

CO2 (carbon dioxide) extraction
Solvent extraction

Ref: Green/Entrepreneur

Domestic & International Merchant Account For Your Travel Business

Travel-oriented businesses are considered risk merchants as far as credit card processors are concerned. Therefore are among the most difficult business types to acquire successfully accepted for a Merchant Account. The reason is that experience demonstrates that customers are impressive. They are more able to dispute and chargeback travel agency transactions than most others.

Domestic & International Account

• International merchant accounts are the best solution if you have target markets outside of the US.
• Establish accounts with acquiring banks in all the regions in which business is conducted.
  Save money on processing fees by taking advantage of the lower intra-region interchange.
  Decrease foreign exchange expenses
  Pay local vendors and workers in local currency
  Gain access to alternative payment methods popular in many parts of the world

A domestic high-risk merchant account works well. The USA acquiring banks will accept travel merchants. Now, many US travel merchants combine domestic travel merchant accounts with offshore processing to:

• Mitigate risk by diversifying location of banks
  Obtain higher processing volumes. Offshore accounts often have no caps on processing.
  Take advantage of business benefits offered by some offshore jurisdictions

Understanding your risk exposure will help you take sufficient steps to minimize it. Also, protect your travel agency from losses associated with chargebacks resulting from customer disputes and fraudulent transactions.

For one thing, starters you should apply for a Merchant account with the suitable kind of payment processor. This implies one that represents considerable specializes in high-risk merchant accounts–otherwise, you are simply wasting your time and money. Fortunately, there are a few several processing networks available that do specialize in such higher-risk merchant types, unfortunately at a little-enhanced cost consistent with the improved risk involved.

Getting Cheapest Payment Gateway Is Not Good For Your Business

Cheapest Payment Gateway – Today there are so many options available to choose for payments; bank transactions, credit/debit card payments for your business. It can become very difficult to choose from the options available. However, the truth is not all payment gateways are reliable for your business. If you are a merchant who is setting up a new business and will be dealing with daily transactions then it is very important for you to have full knowledge of the suitable payment gateway for your business. There are a lot of points to consider while choosing the right payment gateway.

You might find a “cheaper” payment services provider, but there could be hidden charges too. You might choose a cheaper payment gateway, but choosing the cheapest one is not always the best option.

WHY THE CHEAPEST PAYMENT GATEWAY IS NOT THE BEST ONE FOR YOUR BUSINESS?

Cheapest payment gateway does not always deliver as they promise. They use different tactics to entice merchants. These could be very problematic for the health and reputation of your company.

Cheap Payment Gateway usually puts attractive advertisements with lowest pricing rates and other services to attract potential clients, but there come hidden fees with it.

If you want to expand your business and sell your products and services globally, some payment gateways will charge higher fees when you sell in other currencies.

Cheapest payment service providers may give you a headache due to lack of proper secure payment service. However, with the best payment gateways, you will not have to worry about PCI compliance, anti-fraud tools, and security issues.

The cheapest payment gateway cannot be an outstanding service provider. If some fraudulent transaction or something unexpected happens, they will fail to resolve your problem quickly or they may charge a very high fee for the assistance with it.

Most payment service providers hold your credit card data hostage. For example, you have several thousands of credit card details of customers that you may not be able to transfer. Now, in case you want to switch to other payment providers, you might not have the option of retrieving this data and take with you. In that case, you will have to ask all these customers to fill their information again and could cost you a lot of money in attrition and in the process you might lose the trust of your customers.

Cheapest payment gateway offers only one or two payment services, requiring you to hire your own vendors, maintain multiple relationships with other online security providers.

Hence, for the security and growth of your business, choose the “right” payment gateway instead of the “cheapest” payment gateway.
In case you want to know more, you can always get in touch with Merchant Stronghold. You can contact us through email or phone number +1 (888) 622 – 6875and talk to our experts at any time of the day.

High-Low Risk Merchant Services For Your Businesses

As you know the market is full of merchant service providers. You can get different companies offering many attractive services to lure merchants. And at those times the merchant feels very confused. A merchant needs an expert to help choose the Best Merchant Service Provider.

WHY DO YOU NEED A MERCHANT SERVICE PROVIDER?

A Merchant service provider is also known as a credit card processor. They offer services to the merchant to accept the credit card, debit card, and other electronic modes of money transactions.

An MSP is responsible to move the money from the customer’s account to the merchant when the customer swipes the card. Also, a business that accepts the card and other electronic means of the payment can expand their business easily, as more customers are using the card instead of the cash in today’s economy. Most MSP’s are providing a wide range of methods to accept payment to make the customer feel comfortable while choosing the service or product a merchant has to offer.

QUESTIONS

• What kind of Support services they offer? – 24/7 support or Live Support
  Will they allow both online and offline processing of transactions?
  Details related to the PCI-Compliance and other charges
  How long have they been into this business and What are their customer reviews?
  What is their response towards the chargeback and frauds?
  What is the average fund processing time?
  Details related to cancelation and fund replacement
  What kind of compatibility appliance do they need or offer?

How to choose the best merchant service provider?

Go for the Track record of various Merchant Service Providers. Before subscribing to the merchant service, you must check the previous records and reviews of that provider. If they have a positive record then you should feel free to add them to your list.

They are providing at a reasonable market price. You must check the market price for the services that you are looking for. Moreover, you can compare the prices and get the one suiting your requirements.

The Efficiency of the Support Service. While using the merchant service, a merchant may need assistance every now and then regarding the charges and more. In such cases, your merchant provider must offer nice support, preferable 24/7 support.

Understand the need and requirement of your business. You must get the package or service that goes perfectly with your business. This includes subscription charges, monthly or annual limit, and more. Make sure you consider the expansion of business while choosing the merchant service provider.

What are the Reasons to Add Authorize.net Payment Gateway on WooCommerce Store

Here are few reasons why you should get the Authorize.net Payment Gateway on your WooCommerce Store.

Security and Support
Easy Configuration
Extension Management
net eCheck Support

We will discuss these points in detail. You should also know about the system requirement for Authorize.net.

An Authorize.Net account
PHP 5.3+ (You can see this under WooCommerce > Status)

SECURITY AND SUPPORT

When the customers have the assurance that making transaction is safe, they are more likely to purchase the services. Authorize.net offers the security to both the customer and merchant by its payment gateway.

• They keep the customer’s information and details safe
  Also, Authorize.net offers a reliable and secure atmosphere to make payments
  You can also access 24/7 support of Authorize.net
  Moreover, for the 1st year you get the premium support and updates
  Your business website will remain up and active with Authorize.net payment services.

EASY CONFIGURATION

You can install Authorize.net by visiting the WooCommerce plugin. Then go to the Payment settings and add Authorize.net Payment Gateway on WooCommerce Store. Once you have added it, you can start the configuration.

• After that, you need to visit Authorize.net on your browser.
  Login to your merchant account using the username and password.
  Then you need to go to the API Login at the Settings page.
  Use this API login credentials to use the Authorize.net account on the Website.
  Once you add the extension to the WooCommerce or the Website, you can manage the extensions.

EXTENSION MANAGEMENT

There are a number of extension settings and customization options available. It will take another article, to discuss all of the services. But here is the brief of available extensions.

• Enable/Disable the Gateway
  Title and Description of the Payment Gateway
  Card Verification Menu (CVV/CV2)
  Transaction Type and Accepted Card Type
  Option to add the API Login ID and Transaction key.

Finally, save the settings to add Authorize.net Payment Gateway on WooCommerce Store. After that, you will be able to customize the various settings provided by the plugin.

If you are looking for an expert to guide you to choose the best payment gateway then feel free to contact Merchant Stronghold at +1 (888) 622 – 6875. We provide specialized assistance with high-risk business management and merchant card processing.

Does Zero Credit Card Processing Actually Cost Nothing?

Zero Credit Card Processing – Credit Card Processing fees are applied as a cost of managing the exchange of money from customers account to the merchant’s account in a secured manner.

Does Zero Credit Card Processing Actually Cost Nothing?

As we have discussed, in the case of zero credit card processing the customer has to pay most of the charges.

However, it is not like the merchant is not paying anything entirely. Because there are still other charges to be paid by the merchant such as :

PCI Compliance
Monthly Fees
And many more.

Generally, these plans are designed in such a manner that the processing fees are reduced to “zero” or “no cost”. However, all the other charges are increased by a bit.

And when a customer is introduced to these prices, it seems like that the processing fees are reduced to zero.

What Does It Cost To Your Customers?

The charges are generally set to 4% or less for the customer as the surcharge of no-cost credit card processing of merchant.
Also, customers are generally charged dynamically and the range is between 3.45% to 3.65%.
However, this is not any kind of hidden charge and your customer will see the surcharge in the receipt on their purchased goods and services. And in such situation, a customer can feel like being charged more than he/she should.
No customer wants to pay extra for any goods and services and if this is the case with you then you can lose customers.

What To Do Next?

As the merchant, the first thing you should do is check your competitors. If most of your competitors are using the surcharge method to get a minimized credit card processing, then you can also use this method for your business.

However, if your competitors are not into “no-cost credit card processing” then you should also reconsider your payment methods. Applying surcharges to your customer results in loss of customers.

In such a case, you can try other methods that can help with the reduction of credit card processing charges. Also, you can contact an expert to help you choose the ideal credit card processing method for your business.

We, at Merchant Stronghold, provide you with an expert who will customize the perfect deal for you depending on the industry your business is in. Contact us at the toll-free number +1 (888) 622 – 6875 and get the required services that you are looking for as a merchant. We also offer assistance regarding high-risk payment gateway and merchant account services.

Virtual Terminal and It’s Benefits

Virtual Terminal: Virtual Terminal is an online application or operating system where a merchant can check all the transactions and get a detailed inquiry of it. By using virtual terminal merchant can accept the payment without physically using the credit card. It is contrary to physical payment where the credit card must be present at the time of the transaction. You don’t need an electronic machine (POS) or go through any hassle if you had opted for electronic payments. What you need to do is promote payment gateway, which will allow you to process your transaction without any inconvenience. You can get your payment even from miles away within a few seconds with the help of virtual terminals. Multiple companies are now offering these facilities one of them is IBM, PayPal, Linux and many more.

How does Virtual Terminal work?

As it is online, so it obviously requires an Internet connection. Usually, it is powered by the gateway, which means each and every transaction that the customer will perform would be processed by the gateway, which we are calling the virtual terminal.

For executing the transaction the gateway lands the customer to the payment page where he puts all the required card details manually, and then after getting a confirmation from the bank, the transaction takes place. For processing the transaction, the virtual terminal charges some amount, which is called gateway fees. Virtual terminal gives diverse options of payment to the customer. In case of recurring payments, the merchant can directly ask card details from the customer for the payment, which will allow deducting the charges till the subscription ends.

Benefits of Virtual Payments

Virtual terminal helps in processing a lot of transactions instantly. It is the solution that turns your computer into a payment processing device. It will allow you to accept your payment anywhere at any time without being necessarily present there. You can even process the transaction once you get the card details of your customer over the phone or e-mail.

Virtual Terminals also centralize data and make it more secure. So the chances of fraud or scam also reduce.

Unlike their physical POS counterparts, virtual terminals can handle recurring payments, easily.

How to get rid of poor merchant underwriting

Effects of Poor Merchant Underwriting

Your high-risk business may suffer from one or the other reason even without in-depth analysis and these are:

Incorrect Limit: You should set limits for your business as per requirement. It should not be too high or too low, as both will put your business at risk. Limits lower than required will hinder the regular processing of transactions. As a result, it may constrict the flow of cash or timely payments from the customer. If a limit is too high, this may lead to unexpected fraudulent charges.

Hidden Fee: An additional fee is there if the volume exceeds the limit. However, even if you have set your limit, some providers let it exceed without notification. And they also charge you with a penalty.

Downgrades: Once your high-risk merchant account is set, you are inclined to transaction downgrades if certain required features and security measures are not set along with the account. Although, setting up these features will cost you more. But it will help you in long run and enable smooth processing of transactions.

What Providers Check

Industry Type: Risk is in every kind of business but the level of risk varies from business to business. Few businesses are less likely to fraud and chargebacks as compare to others. Higher the level of risk, higher the amount of documentation.

Return Policy: Businesses that indulge in shipping products are risky because there are chances of non-delivery of product, wrongly delivery or delivery of broken product that might result in chargebacks.

Business History: If you are not new in the market and have applied for a merchant account, underwriting will involve reviewing of your credit history as well as chargeback history (to know chargeback ratio) before approving or rejecting your application.

Financial Stability: To check the financial stability, underwriting may include your bank statement and credit. This is very important for the businesses while applying for a new merchant account, as it directly affects the decision of underwriting approval.

High-Risk Tech Support Merchant Account In USA

Tech Support Merchant Account Provider

For retail merchants, it is pretty easy to get a payment processor but it’s not the same with tech support businesses. This is due to the high rate of chargeback risk involved. So when you are looking for a merchant account provider, you should always ask them certain questions before applying. These questions could go as follows:

Do you provide high-risk merchant account for tech support businesses?
What about remote tech support (if relevant)?
Does the underwriting department approve of it?

At times salesperson will assure you that they do provide service to tech support business and after you complete the process of applying for it, and send it for approval to underwriting department; you might find out that your application is rejected because they do not support tech support business.

Merchant Stronghold has expertise in providing all-inclusive high-risk credit card processing services to tech support merchants. To get the high-risk merchant account for your business, you have to fill the application form and provide us with all the information. We will respond you back through e-mail with the list of pricing and terms as per your requirements. Once your application is approved, you can start processing. To make the process easier for you, we can also set up your chargeback management tools and payment gateway.

Underwriter’s requirement

When you fill the application form for opening a high-risk merchant account for your tech support business, it is forwarded to the underwriting department for approval. The underwriter’s role is to make sure that the business is good for the credit card processor to take on and it’s worth the risk. Underwriter looks for any type of loopholes in your application and the likelihood of the credit card processor facing the losses on the account. This can occur due to the high number of chargebacks that went unpaid. Also, unpaid billing or fines imposed either by the government or card brand or the sponsor bank. These reasons are good enough for declaring a merchant as fraudulent and rejecting the application for a high-risk merchant account.

Tips To Handle The Credit Card Information

Keep your customer’s data safe with these useful tips.

Use Approved Software

When a merchant uses POS (Point of Sale) terminal, mobile running payment processor software or swipe machine to conduct transactions, as a merchant it is your duty to make sure that your hardware, as well as software, is PCI Compliant. There are many applications and card readers available that come with security loopholes. So, it is advisable to choose reputable hardware and software vendors who take full responsibility for the integrity of their product. For the long run and good reputation of your business make sure to use tested and approved solution.

Genuine Service Provider

You can avail services of a reputed service provider to install credit card processing software, manage credit card processing as well as credit card storage for your business. Service provider includes:

SaaS (Web-based software)
IVR phone services

It might also include companies to which the merchant outsources payment-processing functions. Through extensive testing of these service providers, you can make sure that they are trustworthy. Qualified Security Assessor (QSA) who performs a comprehensive audit of policies, procedures and the system of the service providers does this type of testing. You can only use PCI DSS Validated service provider as a part of a contract signed.

Storage of Sensitive Information

Payment processing regulations specifically prohibit the storage of credit card security code or any data contained in the magnetic strip of a credit card. Although you may have business reasons for storing credit card information. The card security number is in place to know whether a user of the card over the phone or internet has the possession. But if the security code is stolen, this approach will not work. In the magnetic stick, which is on the backside of the credit card, track data is stored. This contains the information of the account that is otherwise don’t show on the card. This data assists with authentication and the card cannot be fake.

FINAL WORDS

By simply following these five steps, you can meet your contractual requirements to protect credit card account information. Also, the merchant can be PCI compliant. It will also help merchant in gaining customer’s confidence and loyalty, which will help in increasing the revenue.