It’s practically not possible for commerce merchants to work without having enabled as payment type the credit or debit cards. Before you can accept “plastic,” you need a payment service provider who acts as a link between you, banks, and credit card networks. Lots of financial processors do business exclusively with low-risk merchants, who they consider as a safer investment. That means businesses considered high-risk will have a limited selection of potential processors to choose from. Any processor you approach will take a careful, detailed look at your business to determine if you fall under their definition of “high risk,” based on the financial risk your company represents.
Make sure you ask about all other fees upfront as well: Fixed transaction fees – are they charged for declined transactions as well, are there any contract cancellation fees, minimum monthly invoice, how much is the setup fee and if it has to be paid upfront, is there any additional annual and monthly fee, how much will you be charged for every statement and bank wire, and very importantly what are the chargeback, retreival and refund fees. You may know that you will get your funds but you also need to know when exactly. Every credit card processing provider and acquiring bank will have different remittance turnaround times. It mainly depends on your risk category and the type of merchant account setup – for example, a direct MID setup where acquirer is paying you directly means less time because there’s no need for funds to reach the Processor company first and then be forwarded to your bank account.
Based in Woodland Hills, California, PaymentCloud is a merchant account provider that specializes in serving high risk business types. This includes CBD and Kratom businesses. The company’s products and services include point-of-sale solutions, mobile phone swipers, an online payment gateway and virtual terminal, EMV-compatible terminals, and merchant cash advances. PaymentCloud provides a dedicated account rep to all new merchants for the life of the account. The company has not received any negative complaints on consumer forums, and it customizes its pricing according to each merchant’s business type and processing history.
High risk merchant account business types in 2019. This is a popular topic as more countries open up to new products. High-risk merchant accounts are a group of financial services that offers firms to receive card payments from customers. Credit card processors assign merchants to one of two categories: high risk or low (normal) risk, based on a number of factors. High-risk merchants face reduced options in processors, plus higher fees and stricter contracts. Being labeled as high-risk looks terrible. But in some scenarios, it can be your best option. We have been discussing about multiple points of view of the high-risk merchant account business for years and have most likely reached on most, if not all, of the most decisive issues. Here are some more advices on high risk merchant account services. Read extra info on High risk merchant account cbd.
The experts at PayKings can help merchants set up a low- to high-risk merchant account that delivers affordable merchant services, online credit card payment processing, and seamless integration with the merchant’s existing platform. We did transactions on all of the high risk credit card processors, to be able to compare and a solid choice is iPayTotal. They cover all business types, have a huge experience in the business, fast customer support and low fees.
Misleading sales gimmicks and dishonest sales agents are common problems in the merchant account provider industry. While we like to see full disclosure of contract terms, processing rates, and account fees right on a provider’s website, even the best high-risk specialists often fall short in this area. There’s a reason for this. High-risk specialists often work with multiple third-party processors to find one that can accommodate your needs. With each processor setting their own rates and terms, it’s practically impossible to spell out all the details on a website. You’ll want to work closely with your sales representative and negotiate to get the best terms available. Just be aware that as a high-risk merchant you’re not going to get as good a deal as a non-high-risk merchant.
Our banks have been selected to assist our customers to get the most secure high-risk merchant account solutions for their business sectors. We have chosen the banks with the highest integrity and methods, adding confidence to your payment processing solution, to get you the best transaction fees for high-risk sectors. We offer the kind of value and personalized service your business needs to get off the ground and grow. Our support team will work with you to identify the best merchant services and payment products to fit your needs. And, whether you have a question about your merchant account, need help with chargebacks, or have a question about your statement, our representatives are ready to help 24/7.Our team will prepare a solution tailored to your business. ?We combine the right technology with service and support to ensure you never miss out on an opportunity.
IPAYTOTAL LTD
Company Address: 60 Windsor Avenue London, England SW19 2RR
Company Website: https://ipaytotal.com/.
Support Email: support@ipaytotal.com
UK Tel:+44 800 776 5988
US Tel:+1 845 215 4017
Company # 11357725