If you are looking for a merchant account, then you should know that there are several types of merchant accounts. Every kind of merchant account is meant for a different type of industry. A high-risk account is for the business merchants that are operating in the high-risk business industry. One of the difficult tasks is getting the best high risk merchant payment processor for the credit card processing solution. Theecheck is one of the best merchant account and payment service providers. Contact us right now at +1-855-403-3855 to get the processing solution meant for your business needs.
Challenges Associated While Choosing A High Risk Merchant Payment Processor
Getting a merchant is easy, but getting a high-risk merchant account from an experienced and reputed high-risk merchant payment provider is Lil challenging. Most of the processors refuse the applications form for high-risk industries. Some of the industries that processors usually refuse for providing payment solutions are CBD oil, online dating, adult entertainment or e-cigarette. The primary reason that an ordinary payment processor avoids high-risk processing merchants are:
- High Chargebacks
When a customer files a dispute over an order placed, a chargeback is issued to the business merchant. Different processors may have their own different categorized threshold limit. If a business surpasses this chargeback limit, it can attract a lot of extra penalties.
- Risk Of Online Frauds
High-risk industries consist of several types of businesses that are under legal regulations and age restrictions. This makes it more prone to attract fraudulent activities to surpass the limits and ending up with a high ticket cyber fraud.
- Expensive Products And Services
If a business merchant tries to sell some expensive products or services like paintings, jewellery, etc. over more than a million dollars. This surpasses the monthly sales volume limit that is provided to each merchant account holder.
What Benefits You Will Get With A High Risk Merchant Payment Processor?
A merchant should always take care of all the charges associated with the merchant account and credit card payment processing. Every merchant has different requirements. That’s why Theecheck discusses with the merchant their needs to provide them with a customized processing solution. Some of the significant benefits a high-risk payment processor provide are:
- Multi-Currency Payment Gateway
A high-risk merchant payment processor will provide you with the facility to accept payments in multiple currencies. In this, you will receive the payments in the currency in which your customers are comfortable to pay. Then it will get settled in your bank account in your local currency.
- Global Expansion
With the help of a high-risk account, you can sell your products and services online across borders. You can easily do business in several countries. This allows you to increase your customer base internationally and gain more business revenue.
- Recurring Billing Facility
Recurring billing is a feature that fascinates most of the customers. This facility also provides you with the benefit of developing an excellent customer-merchant relationship.
We at Theecheck are working with a team of industry experts to provide you with benefits of the best payment processing solution. This way you can save a lot in processing charges and gain more profits in business sales. You can reach us at email@example.com.