Top Three High Risk Merchant Account Solutions

Top 3 Goals All High Risk Merchants Should Know

Credit card processing is a confusing world. It is. Until you get hold of the details it is unwise to dip your foot in the murky waters. Established high risk merchants know that it's more than just getting a reliable payment gateway or the ability to accept debit cards. It is also about being able to provide security to your customers as well as getting the lowest rates on the best processing service. An efficient shopping cart is also a must.

The good thing about high risk merchant credit card processing is that it continues to evolve. New merchant account providers surface to bring more competitive rates. New technical knowledge enhances open source software for free online shopping cart construction. More and more ways to accept payment online are being devised.


But the core of building your own merchant account can be outlined in simple terms. The first goal is to make sure your customers are satisfied. The second goal is to profit more from low overhead costs and efficient payment processing. The third goal is to keep the business thriving with as few chargebacks as possible.



To fulfill the first goal, merchants should put themselves on the customers' shoes and walk themselves through the e-commerce website that they have built. Is it user-friendly enough? Does it store information so there is less redundancy for repeat customers when it comes to data input? Does the shopping cart display an interesting catalog with images and product description? Can the customers pay via different types of credit cards, or personal checks, money order, and even debit cards? Can they pay with various international currencies? Above all, can they reach you through toll free lines, live chat, VOIP infrastructure, or interact with you through feedbacks and suggestions?


The second goal requires you as a high risk merchant account owner to look into rates, plan when to acquire the merchant account before actually registering, and make sure you don't get quoted for a retail merchant account. Most merchants fall victim of the latter and end up paying for more expensive rates. Being able to avail of fixed rates will help you in the long run when credit card acquisition and the processing fee itself increases. A payment gateway that handles the job efficiently is handy.


Chargebacks are like flies in the dark chocolate frappe you were drinking. A good high risk business will never be without the existence of chargebacks but there are ways to swat them. The quickest route to this is to avail of anti-fraud systems to keep fake credit card owners in check. See, the higher your chargeback rate is, the less likely you'll gain the trust of new customers who are looking into buying your products or services. Make sure that your credit card processor offers measures to counteract frauds using cutting edge technology such as SSL encryption, etc.

Knowing you're on the way to fulfilling all these goals can give you peace of mind before your head hits the pillow. Taking note of new problems that arise also help. Remember that it's not always keeping up with the trend of registering with high risk merchant account providers that works, it's sometimes just plain business common sense.

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