Merchant Services

Merchant Account Processing :  There are many misconceptions about Merchant Accounts and their service providers. In this blog, we will try to reveal some of the facts about the Merchant Account Processing. While opting out for a merchant account, and choosing a  payment gateway , businesses usually make mistakes some way or another. Whether you are new to the business or have lots of experience, you still might have some misconceptions about it. Not Worth the Time  – Firstly, entrepreneurs find that they have the best payment processing with the banks, some businessmen don’t care about the ease they get while doing the transactions through a merchant account. Expensive Affair  – Yes, the  merchant accounts  don’t come cheap, but they are not costly either. They just tell you the fees in a package where all the things are segregated and revealed as one. As well as the providers tell you the fees in percentage so, you have a clearer pers...

It is difficult to start a business, as well as applying for a merchant account. The merchant accounts get approval or disapprove from the risk departments. While considering the business to be high-risk business or Low-risk. There are few reasons why any business can be in  high-risk business . Risk factors that make a business HIGH RISK You have lost your previous merchant account due to high chargeback ratio. Questionable sales and marketing tactics. Potential legal and financial liability. Your credit is really bad. Industries with excessive chargebacks or fraud incidents. Trial continuity business. Previous credit card processing is not good enough. You’ve been branded as a terminated merchant (TMF). The  high-risk merchant account  categorization depends on your business’ industry. Regardless of your individual businesses’ track record. In addition, the high-risk category includes businesses that are declined by a previous credit card process...

If you find your business on the TMF or MATCH list, and you need to know how you got listed, reach out to your service provider and they can help you understand the exact reason. You need to contact the previous bank with whom you had  merchant services  previously. Request them to give you the reason and reason code under which you were added to the MATCH. You should know from the bank how to get off the MATCH or TMF. MasterCard, in general, puts the merchant for 5 years in the MATCH list. In case of fraud, you are highly unlikely to get off the list. Then, you do not have any option than incorporating a new company. Why are Merchants added to MATCH or TMF? Having a huge number of chargebacks on a monthly basis. The merchant owes money to the bank. Merchant caught practicing fraudulent activity such as money laundering. Illegal-product or Advertisement. Disclosing information of profit to the customer. All in all, violating the terms of a ...

Online Payment Risk :  Payment risk is considered as a loss if a merchant or a company handles a high volume of payments and they fail to comply with the contract. The blockage of the payments as a source of fraud can be bounced back on the company. The truth is that every payment method involves risk. If you run an online business and process payments on your website, there is a risk involved. The major ones are fraud and operational risks. There are many types of operational risks: Inadequate and Failed Information Systems Fraud and Chargebacks Processing Errors Breaches in Internal Sources and Control Commercial Disputes Unforeseen Calamity. Since the online payments form the foundation for digital foundation services, an approach to managing and regulating their risk is the first step. A company should work for an approach for assessing the economic impact of risk from the perspectives of customers, providers, and self. A high level of transactional risk ex...

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 , you can grow 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 today. 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...

Common High-Risk Industries Any business with bad personal or business credit scores, a high chargeback history, a startup, or high frequency or high average tickets can be at high risk. On an individual basis, the majority of  high-risk businesses  are among such by the industry they operate in. Some examples of high-risk industries include Document Preparation - Downloadable Software Educational Software Electronics Business Extended Warranties Financial Aid Consulting Financial Services Fine & Cosmetic Jewelry Insurance Providers Magazine Subscriptions Air & Water Filtration Antiques & Collectables Apparel Sales Auto Parts & Accessories Auto Transport Businesses with Bad Credit Beer, Wine & Liquor Sales Computer Hardware Debt Consolidation Discount Buying Service Risk factors that make a business HIGH RISK You have lost your previous merchant account due to high chargeback ratio. Questionable sales and marketin...

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 service 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 ...

Although the enterprise has visible large growth, banks and creditors keep looking at 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. And, 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 t...

A merchant, whether be small or big, every person in business needs funding. The payment flow or cash flow in an online business is irregular and depends upon various factors before getting into the merchant’s hand. In this article, we have covered a few of the strategies with which a merchant can get his funds quickly. An Omission of Chargebacks: A business should be customer-centric and should always provide good if not the best customer service. Still, it is not necessary to have a chargeback-proof business. Always try to minimize the chargebacks. It would not only help your business in getting funds faster but also reduce the chances of getting under the TMF ( Terminated Merchant File ). Documentation of Larger tickets: Just like any unusual high overall volumes will draw the attention of your merchant account provider, so will an unusual large individual transaction. The third-party processors hold the funds until you provide the documentation, or until the cl...

Some merchant account providers specialize in high-risk merchant account but charge the higher fee for certain accounts. There are few providers who offer customized end-to-end payment solutions, which are more beneficial for the merchant as compare to others. Some also offer to process for numerous currencies. For these and other reasons, it’s best to do very systematic research of merchant processors that offer merchant accounts for Nutra deals. Several benefits of using the merchant account for Nutra product sales are: Payment acceptance through various means: If you want to grow your business it is important to accept payments by multiple means. Customers feel comfortable if they can pay or choose the payment option as per their choice and convenience, for the products or services they require. Acceptance of all type of credit cards: If you have a payment processor that works with all credit cards, the merchant can deal with people and companies all over the wor...

Merchant Account for Running Tour and Travel Business Find consultants who specialize in the helping high-risk merchants finding a merchant account. We at merchant stronghold provide you the same. If you have a good record of risk, fraud, and charge-backs, you will be required to provide at least 6 months of prior financials to prove it. The best side of this is that if you can provide financial statements of 3 years, you will have more leverage to negotiate a better deal. Startups with a weak or non-existent record, you must accept a very well relationship. A common mistake that everyone does is to find big banks and merchant account providers . If these processors receive any hint that you are high risk, there is a chance that the merchant account will get a termination. Develop and put into action a strong fraud prevention plan. Introduce new tools that will help you detect and fight fraud. Purchase a financial failure insurance plan to boost financial security. ...

There are many misconceptions about  Merchant Accounts  and their service providers. In this blog, we will try to reveal some of the facts about the Merchant Account Processing. You are new to the business or have lots of experience, you still might have some misconceptions about it. Not Worth the Time  – Firstly, entrepreneurs find that they have the best  payment processing  with the banks, some businessmen don’t care about the ease they get while doing the transactions through a merchant account. Expensive Affair  – Yes, the merchant accounts don’t come cheap, but they are not costly either. They just tell you the fees in a package where all the things are segregated and revealed as one. As well as the providers tell you the fees in percentage so, you have a clearer perspective on the rates. Misleading Promotion  – The misconception is that the service providers prevent the facts and sell the merchant accounts in higher percentag...

CONS OF HAVING A  HIGH-RISK MERCHANT ACCOUNT Now a business owner has to get a merchant account. This account is used to carry out the transactions of the merchant. Now if your company has too many numbers of chargebacks then your account will be referred to as high-risk merchant account. There are many reasons a merchant do not want to own a high-risk merchant account, these are: Excessive Chargeback Fees – The Bank already considers that the high-risk business will produce a number of chargebacks. In order to deal with the chargebacks, bank charges extra chargeback fees to deal with them in the future. Need to create a Merchant Account Reserve. For the  high-risk business , the bank asks them to open a no-interest saving account. This is done to deal with an unexpected number of a chargeback in the future. If someday merchant is asked to pay a large sum due to a chargeback then this account will be used to pay off the customer. If you are at risk of becoming a hig...

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 consider intently, protecting customer information is important. So, escort merchant accounts use through Payment gateways which might follow PCI standards. Which means the customer’s information can be very secure and safe. FAST PAYMENT SOLUTIONS Escort services want to be 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 here to contact High-Risk business Solutions about being able to start your escort payment processing business with securely and reliably. Escort Merchant accounts are typically set up inside one week. The time allotment depe...

Business opportunity merchant accounts  is basically a program or course that’s produced by somebody to help others make an income and is generally done so from the comfort of their own home via online. Some charge a membership fee to keep having access to the backend as well as the helpful tools. However, like everything in life, it's only like one bad fish destroys the whole pound and because of this biz ops have turned into a bad name among traditional banks for credit card processing. Why is that? Well, a few reasons like the potential for excessive chargebacks and (of course) those select few men and women in the industry that are only out there to earn a quick buck. A business opportunities merchant account is indeed classified as a high risk for a variety of reasons, making it difficult to find a reliable processing partner. Merchant Stronghold specializes in working with high-risk merchants and we have multiple acquiring banking partners that offer business op...

Travel-oriented businesses are considered high-risk merchants as far as credit card processors are concerned. And, 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. Know The Risk! You will also need to comprehend the potential risk related to offering travel services online. Significantly more vitally, knowing what to expect as far as requirements and processing procedures are here. And, selecting a high-risk processor with the knowledge, capability, and willingness to effectively instruct and guide you is very important. 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. To m...

Account Hold When the banks withhold some of the money from the merchant account is called Merchant holds. The merchant account remains active and the account holds money that acts as a deposit for doing business. Furthermore, in case of any fraudulent activity or chargeback issues, this money can be used. However, the Merchant Account is not standard practice for both banks and the merchant especially in the case of low-risk merchants . Account Freeze If the Merchant is suspected to be involved in a suspicious activity then the Merchant Account is subjected to freeze. During the freeze, the merchant is not allowed to make any transaction using that Merchant Account. Then the Bank investigates the issues and unfreezes the account if no solid evidence is found against the Merchant. The merchant should understand the reason behind the Account Freeze. This can help to avoid Merchant account hold or freeze in future . What Causes Merchant Account Hold or F...

Merchant Account Provider for Business  – Usage of cash and checks is reduced in the past decade. More and more people are relying on cashless transactions. This means people are getting comfortable with card payment and card fewer transactions. But this is not good news for Merchants. They have to adapt according to the changing economy. This transition takes time and understanding. There are benefits of getting a  Merchant Account Provider for Business : Better Money Management No matter how small or large enterprise you have, money management is one of the very important aspects of a business. Without proper management of money, you won’t be able to see any profit. This is how a merchant account helps: Now, if a customer makes the purchase using a credit card, debit card, or other cashless modes, the money will be directed to your merchant account directly. You get a merchant account, which is connected with all the modes of transaction available. ...

It appears on the credit card statement or any other bank statement of the customer that contains details of the company and merchant involved in the particular transaction. The purpose of the merchant descriptor is to identify whom the payment was made to. Whenever a merchant goes for the  merchant account , he or she is asked to provide the merchant descriptor as well. WHAT ARE THE BENEFITS OF HAVING TRANSACTION DESCRIPTOR OR MERCHANT DESCRIPTOR? Having a transaction descriptor can save the merchant from a chargeback. This is the most important benefit of having the transaction descriptor. A descriptor gives clear information about the merchant and the purchase. This helps a customer to quickly identify the transaction. That also results in a low chance of the chargeback from the customer’s end. According to the various reports from the card networks, most chargebacks are filed simply because the customer did not identify the transaction. Now you...

Ecommerce Checkout Flow– Every big or small brand is now taking their business online due to the boost in the e-commerce industry. This means, along with the physical store, every merchant now wants to have an online store as well. This is a good idea for a merchant to expand and increase his revenue. However, not everyone is good at handling the e-commerce business on their own. This is because of the competition and lack of guidance. One of the important aspects of online business is the checkout process. The checkout process is where your visitors get converted into the customers. If not done right, you can lose the e-commerce business due to excessive loss.  Although, there are many successful  e-commerce businesses  that are doing really well and you can learn from them. Along with that, in order to boost your business, you can take help from experts. What Is ECommerce CheckOut? It is a designed interface and a customer must go through it to purch...