Understanding And Process Flow of ECheck Payment Processing Work

Understanding and Process Flow of ECheck Processing..!

If you have been executing a business for some time, the chances are high that a client has asked for to make payment utilizing an Echeck. Merchants frequently let their payment processors handle the details. Also, when disputes emanate later, the merchant is left with little to do, other than accept the processor’s requests.

As an entrepreneur (who starts a business alone), it is compulsory to have at least little grasp of what goes on when a customer pays through an echeck. Be that as it may, to start with, let’s answer the obvious question: what is an echeck Processing?

What is an Echeck Processing?

An electronic check is a type of payment process where a client’s assets are deposited into a merchant’s account over the ACH (Automated Clearing House) network. To process such payments, a merchant requires an echeck processing, through which payments made by echecks can be pulled back straightforwardly from the customer’s bank account.

E check Processing Merchant Account for High Risk Business

If your business already accepts credit and debit cards, your present Merchant account Provider might be willing to incorporate ACH preparing to your effectively existing system. Organizations, for example, Merchant Stronghold offers both cards and Echeck Payment Services to online businesses.

Once you’ve recognized a processing account that concurs with your requirements, the time has come to fill out the application. The data required will incorporate your evaluated processing volumes, and in addition the years your business has been in operation. The application process is normally quick and simple, and approval typically takes a couple of days.

How Echeck Processing Works?

In some ways, Echeck processing is like paper check handling, although it is faster and more efficient

Echeck Payment Processing generally takes place in the following steps.

• The purchase is Approved

To approve the purchase, a client can either round out an online form or converse with the merchant specifically through a recorded telephone call. Simply, after the approval, the merchant can pass the check data to the payment processor.

• Payment is Completed

The payment processor supervises the immediate withdraw of the funds indicated by the check from the client’s bank account, and prints out a receipt.

• Deposited Funds into the merchant’s bank account

It takes a few days in the wake of starting the transaction for the check to clear and the money to be deposited into the merchant services record.

• Recurring payments with Echecks

Credit Cards and Debit cards may be the most widely recognized approach to make an online payment, yet with regards to recurring transactions, echecks make the sense. Thus, ACH billing is progressively picking up footing among property managers as a reliable approach to gather month to month rent.

Businesses that charge clients settled expenses at each finish of a specified term should, therefore, embrace echecks as an essential payment technique.

Online Improper High Risk Merchant Services Underwriting Directly Affects Your Business

To acquire a customary Merchant Account, your business must experience go through a wide analysis process called merchant underwriting. Sorry to say but some Merchant Account Provider doesn’t satisfactorily underwrite businesses, which can rapid issues down the line.

Merchant Account underwriting is completed by an individual or team of high risk analysts and in general takes two days to a week to complete, depending on the provider. For businesses needing a quick fix, there are options that don’t require any underwriting — but those have their own drawbacks. More on that later.

First, let’s go over what underwriters usually review.

Representative Merchant Underwriting Process

The vital goal is to evaluate the business’s level of high risk for the provider. Why? Because of a merchant account is fundamentally a line of credit. If a business is strike with a chargeback but doesn’t have enough funds in the bank to pay it, the provider fronts that expenditure right away.

Just before truthfully establish the High-Risk Business level, providers review the following:

• Industry Type— every business kind has its own level of risk. For example, a business that swipes cards is less inclined to deception/fraud and chargebacks, and is, therefore, less dangerous, than a business that sells products on the web. The riskier the business, the more support documents and information required for review.
• Business History and Policies— This incorporates years in industry, billing, shipping and returns policies (if applicable). Organizations that ship products are riskier because the product might not be delivered, which can result in a chargeback.
• Merchant History and Card Acceptance Method(s)— Providers will need to know things like your business’s chargeback ratio (over 1 percent is a red flag), whether your business is or has been on the Merchant Terminated File and, if so, why. Most providers evaluate current merchant statements to get an idea of processing volume and methods of acceptance. Businesses accepting tips or phone and online orders are taken into consideration for added features and security measures if approved.
• Processing Limits Requested— Providers will take these into consideration in conjunction with the above information. Providers should set your limits on a happy medium — they should accommodate your regular processing without giving too much room in the event of a large fraudulent charge. If your business doesn’t need very high limits, your account shouldn’t be set up that way.
• Financial Stability— This can include a look at the business’s bank statements, its financials and, usually, the owner’s credit. This is vital for high-risk businesses, as this information can make or break the merchant underwriting approval.

Some providers inadequately review businesses, resulting in issues after they’ve started processing.

Poor Merchant Underwriting After effects

Without an in-depth analysis, your High Risk Business may suffer from one or all of the following:

• Incorrect Limits— whether you’re left with insufficient or excessive limits, it’s a problem. Limits that are too low will hinder your business from processing your regular transaction amounts, which may prevent customers from paying on time and constrict your cash flow. If limits are set too high, you may get hit with major fraudulent charges you can’t cover.
• Hidden Volume Fees– Some providers will give you a limit, but let you exceed it without warning. The penalty? You’re charged an additional fee for either the volume that went over your limit or on the entire processing volume for that month.
• Downgrades– If your account is set up without certain features and security measures, you’re susceptible to transaction downgrades, which mean you’re unnecessarily paying higher transaction costs. Providers often fail to set up accounts with these features because it means more money in their pockets on the downgraded transactions.

Some businesses opt for an account with Payment Facilitators, such as PayPal, Stripe or Square, which bypass merchant underwriting altogether. While they may seem like a better option, these alternatives have their own pitfalls.

Speak with a specialist about underwriting at 888-622-6875.

The Best Retail High Risk Merchant Accounts Service Provider

What is Retail Business and Retail Merchant Services?

Well, any business that is involved in selling finished merchandise to an end user is considered to be a retail business. According to the figures released by the U.S. Census Bureau, Following is a list of 13 major types of retail businesses and figures in percentage of total Sales generated by these businesses separately and annually in the States :

Sr. Percentage Types of Retail Business

1  20.0% Motor vehicle & parts dealers

2  13.0% Food & beverage stores

3  12.5% General merchandise stores

4  11.0% Food services & drinking places

5  10.0% Gasoline stations (and convenience stores))

6  9.2% Non-store retailers (Internet shopping, catalog, direct sales, etc.)

7  6.0% Building material & garden dealers (home improvement)

8  6.0% Health & personal care stores (pharmacy/drugstores)

9  5.0% Clothing & clothing accessories stores

10  2.3% Miscellaneous store retailers (specialty retailers)

11  2.0% Furniture stores

12  2.0% Electronics & appliance stores

13  1.7% Sporting goods, hobby, book & music stores

In order to strengthen and update the retail business, and to meet the requirements of the customers and as an advancement in providing the customers all the ways to make the payment Merchant needs an account or merchant services for which they look for a reliable and stable Merchant Service Provider.

They may be looking either for a Virtual Terminal, Point of Sale (POS) device or a Payment gateway so that payments can be accepted by All major credit cards, debit cards, ACH payments, Prepaid cards or gift cards etc.

Merchant Stronghold’s Merchant Services :

Our payment gateway is PCI compliant and is shown under our online merchant services. For managing the online transactions of our clients more effectively, a user-friendly environment is provided by our payment gateway. Our expert developers in our team of professionals are entrusted with the task of maintaining this gateway. Our virtual terminal can be accessed by you without any extra cost once you qualify as a Moto merchant. It will enable you to accept credit cards through mail orders or via phone calls.

We Support existing businesses as well as start-ups and there is nothing to think about how small or how big business setup you are, we will always try to onboard you within the norms and parameters. Merchant Stronghold helps you grow as we provide sales verification or Customer services also and that too at an affordable price.

High risk payment gateway in USA merchants and payment processing solutions

Payment Processing Solutions

Merchant Stronghold offers reliable online credit card processing for a variety of merchants worldwide.

Recurring Billing Services: Subscription Based Payments Increase your cash flow with scheduled on-time payments. Whether for installment or subscriptions, our platform securely stores payment info for convenient repeat business. Recurring billing makes selling subscription products and services easy. Sell more products online to more customers faster.

Quick Integration: Get Setup in Minutes Work smarter, not harder. Merchant Stronghold allows you to easily process credit cards from your customers without having to write a single line of code. Start accepting orders without having to fuss with complicated APIs and documentation.

Superior Reporting Tools: Up-To-Date Technology Our powerful reporting tools can help you understand, export and present your data beautifully and efficiently. See how your products are performing by creating reports that track real-time information across all your accounts like Clicks, Leads, Conversion Rates, Revenues, and more.

Billing Management: Simplify Billing Tasks Merchant Stronghold makes it easy for managing your daily billing tasks. From creating coupons and discounts to notifying your customers of any changes to their subscription. You can also send invoices, customize sales tax, and even invoice a customer. Merchant Stronghold gives you full control to simplify your workload.

Superior Fraud Detection: Comprehensive Solution Merchant Stronghold built the most comprehensive solution for identifying online fraud in the performance marketing space. We offer advanced security screening and fraud prevention services that keep all data safe and secure while lessening all instances of chargebacks and unauthorized payments.

50+ Currencies Accepted Worldwide: With the global reach of Merchant Stronghold we have become the ultimate payment platform anywhere you do business. You’ll be amazed how quickly Merchant Stronghold has made generating revenue you need with just a few simple clicks.

Data Export It’s Your Data: Our intuitive interface and controls allow you to easily sort, filter and export your data to Excel, CSV, and PDF. There are no limits. You can export your own data, any time you want.

PCI Compliant Secure Cardholder Data: From the world’s largest corporations to small Internet stores, compliance with the PCI Data Security Standard (PCI DSS) is vital for all merchants who accept credit cards, online or offline, because nothing is more important than keeping your customer’s payment card data secure.

Best Offshore High Risk Merchant Accounts for Escort Listing Business

ESCORT BUSINESS SERVICE ACCEPT CREDIT CARD PROCESSING FOR HIGH RISK ESCORT MERCHANT ACCOUNT

During the last numerous years, escort services have become one of the quickest growing industries. Having the abilities of credit card processing to your escort commercial enterprise will offer the first-class comfort for your customers. By allowing credit card payments, there’s a massive capability growth for sales. Merchant Stronghold offers escort merchant accounts which are specially designed for online, in-app. Get in touch with Merchant Stronghold to manage your escort merchant account nowadays.

Escort business is commonly plagued with the frightening task of looking to be authorized and set up with an escort merchant account. Escort merchants need to pursue a financial institution that works ordinarily with escort companies and understands the extended high risk that comes with the industry.

Escort merchant accounts are available for domestic and offshore banks allowing escort agencies everywhere inside the world international to be authorized and setup with an account. The banks we are capable of use from our banking network substantially greatly depend on the location of the organization. If the merchant is located inside the United States., we’re capable of to submit your account to a number of different banks. Merchants based totally outside of the United States may be submitted to different offshore banks one at a time depending on charges and approvals. We start with the lowest rate banks and observe to greater banks if required.

Payment Solutions:

• Offshore
• Domestic
• Ecommerce
• Retail

Escort Industry facing the difficulties

Although the enterprise has visible large growth, banks and creditors keep looking the adult orientated nature of escort services as a High Risk. just like the Adult industry has regulations and policies, so do the providers of Merchant Accounts. Even if you are a longtime business with transaction history, finding a processor this is willing to work with a high risk business can show hard. Financial institutions have categorized escort businesses as High Risk for Some reasons which include:

• Dispute Rates and High Chargebacks
• Rules and strict Laws

Chargebacks and dispute can happen when a client is attempting to conceal data from a spouse/family or if they are utilizing a stolen card. Different dangers incorporate merchants who utilize their site as a front for money laundering or even to sell prohibited prostitution. Merchant Stronghold can get your merchant account approved quick and simple, no matter the tendencies institutions may also have toward this industry.

Merchant Stronghold will help you to Approve Escort Merchant Accounts.

Signing up for an escort service merchant account at Merchant Stronghold is straightforward. you may rest confident that your prices will never boom for the whole lifetime of your partnership at Merchant Stronghold with our Lifetime price Lock assure. Get custom designed credit card processing solutions especially to meet your enterprise needs. help reduce the risk of chargebacks on your escort organization with secure and safe payment gateways.

Our U.S. based customer support service team is prepared that will help you, one on one, every time you need us. Get help with account questions, recommendation on credit card readers and to set up your online credit card processing account. Get more information to contact our Merchant Account Specialist.

Escort Business Service deserve Best Merchant Account

Customers who used escort offering benefits security and protection. The high-quality manners to make sure both are to have an escort service merchant account. because of the truth that escort services are watched intently, protecting customer information is important. Escort merchant accounts are normally used through Payment gateways which might follow PCI standards. Which means the customer’s information could be very secure and protected.

Fast Payment Solutions

Escort services want to be treated like a legitimate enterprise. Because of this, your business desires to raise money for you to pay your vendors and employees.

You can work your approach to record benefits with adaptable payment gateway alternatives via High Risk Solutions.

Now Start Today!

You are invited to contact High Risk business Solutions about being able to start your escort payment processing business with securely and reliably.

You can get started by filling out the application form Merchant services or by calling 1-888-622-6875 to speak with our helpful staff directly. Within minutes, you can be on your way to success in the adult-related industry.

Escort Merchant accounts are typically endorsed and setup inside one week. The time allotment depends for the most part on the organization that is applying and the bank that is underwriting the account. The application is exceptionally direct and a couple of few documents are required to go with the application including; a photo ID, voided check, bank statement, processing statements, and corporate documents. Obviously, if the business is a start-up, a few documents will be inaccessible. It is essential that the merchant provides a number of records as possible in order to expedite the underwriting process.

After approval, an agreement is drafted and sent to the merchant, once returned, login credentials are issued and merchants can start joining and begin to start running transactions. Setup of the merchant account and virtual terminal are effectively done. Your organization’s website specialist will be able to configure the virtual terminal to fit the requirements of your business. After the setup is finished, the merchant will begin running live transactions rather than the test transactions that have already been previously running.

We Process Payments For:

• Adult Dating Listings
• Online Dating Sites
• New Startups Business
• Established Companies
• Spa Business
• Tech Support Business
• Nutraceuticals

Credit card fraud is an ever developing epidemic. Consistently we read about the freshest security breach and the impact it had on the organization that was breached. When you are searching for an escort merchant provider, pick one that offers something other than payment processing but also the peace of mind.

Our banking networks organize works particularly with escort organizations and know about what sort of transactions will be handled (estimate, recurrence and so forth.) not at all like different banks that will rapidly close accounts that they see as unsafe, our banks completely comprehend the escort business. When you choose to work with our organization, you have settled on the decision to work with a pioneer in the escort payment industry.

Escort and Adult merchants are authorized and setup generally inside one week. Dependable merchant services are the backbone of any business, mainly an escort business. Merchants have the capacity to integrate their website(s) with the comfortable safe and secure payment gateway, allowing their customers to buy their products or services in actual-time. Merchants also are capable of using the digital terminal this is covered with all merchant accounts with the intention to manually technique customer payments.

Good merchant services can be hard to find, but Merchant Stronghold offers merchant accounts for Escort Services customized to your business. Simply click below to get started today.

International High Risk Merchant Account Solutions & Payment Gateway

Merchant account services worth high quality can be provided to you by Merchant Stronghold irrespective of your geographical location. Business owners from various countries are opting for our services regularly. For processing credit cards, merchants don’t need to depend on a single merchant account; our international banking partners are always there to help our customers.

Our huge network of international merchant accounts include –

Merchant services: When it comes to serving global businesses, a wide range of merchant accounts are offered by Merchantstronghold. Your business requirements are bound to find the right solutions from online merchant account, MOTO, and retail merchant account services. Besides providing offshore and international merchant accounts to e-commerce merchants, we also serve them with merchant accounts that fall under high-risk and low-risk categories. Merchantstronghold even serves specific industries with merchant account solutions that involve webcams, adult videos, online dating as well as payday loans. You must gather more knowledge on merchant account services provided by Merchant Stronghold before you get registered with us –

Payment Gateway Services: Our payment gateway is PCI compliant and is shown under our online merchant services. For managing the online transactions of our clients more effectively, a user-friendly environment is provided by our payment gateway. A few expert developers in our team of professionals are entrusted with the task of maintaining this gateway. Our virtual terminal can be accessed by you without any extra cost once you qualify as a Moto merchant. It will enable you to accept credit cards through mail orders or via phone calls. Know more about the payment gateway provided by Merchantstronghold.

Credit Card Processing Services: Merchantstronghold offers a variety of credit card processing services alongside multiple merchant accounts. China UnionPay, American Express, MasterCard, Diners Club, Visa Electron, Discover, Visa, and JCB are a few of the major banks that can provide you with credit cards. Payments received in a little over 160 currencies can be processed by merchants. Euros, GBP, and USD are some of the most used currencies. You must acquire more information on the credit card processing services.

Shopping Cart Services: When it comes to making your e-commerce website more user-friendly, you’ll need to identify the right shopping cart. Our Merchant Stronghold payment gateway works well with 40 shopping carts that are quite popular. PrestaShop, Magento, Zen Cart, X-Cart and osCommerce are a few of the shopping carts that have gained much popularity in the recent times. The payment modules included by Merchant Stronghold shopping cart services for each of these modules are free. Acquire more knowledge on our shopping modules and carts.

How To Open Internet Secure High Risk Merchant Account

To Create a Secure Merchant Account Tips:

In the United States, Internet Secure affords merchant account services. If someone started a business as owner then they unified with the Internet Secure merchant gateway where provide authorization to payment process through any method like order forms, shopping cart, or standing orders.

WHY SHOULD A SECURE MERCHANT ACCOUNT BE REQUIRED?

For a business owner, it’s stressful that merchant account will go to rejection. A contradiction might make you question to your business existence. In fact, denial of an entire channel of payment processing probably crippling impact on business.

DEPEND ON CREDIT HISTORY

A provider has checked the personal credit history of customer i.e. revealing trouble of paying bills. A merchant services provider does not want to get on a customer who can view as a susceptibility, even if a customer that pay in a good proceeding of profit will have to reduce the value to a bad credit history.

NOT DEPEND ON YOUR BUSINESS TYPE

A merchant will be labeled as a High-Risk Business and High Risk commit to a raised percentage of chargebacks, it can solely point to the published brand blended with the type of business.When a customer attempts to chargebacks for pay back his credit for one reason or another. The method of fighting chargebacks needs some time and if the merchant loses chargebacks, then it costs everyone who associated.

TO CREATE A SECURE MERCHANT ACCOUNT TIPS

If business owner looking a Secure Merchant Account follow these steps:

• Create a Business Required Strategy

Before reaching merchant services, Recognize some circumstances:

• Should be looking which payment type preferred by customers.
• Which you prefer to order and transactions i.e. phone order or online transactions.
• You are providing recurring fees support system.

Above factors will help you to determine the best type of merchant account for business. A merchant may need a secure payment gateway for their business to take securely order at over day and i.e. integrate with website. If you willing to recurring monthly payment then you should able to take Automated Clearing House payments.

• Comparing Option should be start

You may research the market and their find at least ones that give you an idea to make enticing for your business. When you appoint a salesman and talking about your product who agrees on low processing fees, you should ask yourself how they can manage to obtain it so low?The real risk of low budget companies when sacrificing on quality and trouble with satisfaction can take businesses down.

• Able to Setting it up and Moving Better

By the way, this is different from determining a business leader, for a powerful way to grow their business and moving instantly.Sometimes a merchant takes so many days to fulfill every step included with getting account activation. Sometimes a merchant takes so many days to fulfill every step included with getting account activation. But if you had a planned to set up your business, may take minimum time to become a business track.

Debt Collection Business For High Risk Merchant Account In USA

In case you run or are starting a debt collection business you need a reliable credit card processor at low-cost rates. unfortunately, that’s turning into increasingly more difficult to do.

in case you’ve been within the enterprise for anytime, the everyday cycle for a debt collection employer to undergo with respect to their credit card processing needs is to first go through an aggregator like Stripe or PayPal. The advantage to these agencies is that they carry out very little underwriting, so even though they do now not quite simply receive debt consolidation businesses, you can usually get regular and accepted quickly. The disadvantage, but, to the use of that aggregator kind money owed is that after you unavoidably have a chargeback, or develop your business beyond say, $20,000 according to month, those aggregators will start to investigate your commercial enterprise. when they do, their most common response is to freeze all of your funds, for a hundred and twenty days, and that they offer little customer service during the interim.

That is when debt collection businesses start seeking out a real direct MID Merchant Account service provider. After calling a number of low risk providers and being turned down or rejected, they’ll understand they need a High Risk merchant account, otherwise, they’ll fall into the same cycle of getting to inform half of-truths to the credit card processor, getting found, and having funds frozen. if you’ve commenced the quest for a high-threat processor that accepts debt consolidation corporations, you’ve found out that there simply aren’t many, or even fewer that offer dependable credit card processing at less costly charges.

WHY IS DEBT COLLECTION CONSIDERED HIGH-RISK?

this is due to the fact the debt collection enterprise is appeared as extraordinarily high Risk, due to the enterprise’s traditionally high chargeback rate. The purpose for this, is  fold: (1) the inherent nature of the business is that humans are paying cash they’d as an alternative now not be paying. some of the ones people will always initiate a chargeback, and (2) a few debt collection corporations who didn’t recognize the way to manage chargebacks, or who weren’t operating with a informed high-risk processor and payment gateway that would assist them manage and avoid chargebacks, have given the complete industry a bad reputation. no matter all this, however, thankfully, there are nevertheless a few true alternatives.

OFFSHORE DEBT COLLECTION MERCHANT ACCOUNT SERVICE

Merchant Stronghold works with a number of processors and gateway providers with sponsor financial institution relationships that offer both domestic and offshore debt collection merchant accounts. we are able to offer credit card processing for debt collection companies under the following two options:

REQUIREMENTS FOR US DEBT COLLECTION MERCHANT ACCOUNT:

• US based company representative.
• US based company entity
• US bank account
• Business operations can be based globally

DEBT COLLECTION BUSINESS BENEFITS:

Through our processing partners, we can also offer debt collection businesses the following additional benefits:

• Expert in underwriting
• Same day approvals
• Compatible with E-commerce portal and major payment gateways
• Acceptance Visa / MasterCard / American Express etc.
• MOTO (phone / mail), eCommerce, and swipe accepted.