Am I considered to be High-Risk Merchant?

Many e-commerce start-ups are flourishing in the market. They have started with the little but now they are a giant competitor and secured a good place for themselves in the market. 

There are various aspects of running a business successfully such as are you associated with strong networks of bank and financial entities? Do you have the right financial lenders? And one of the major factors that need to be considered is “What is the nature of your Industry?” It is essential to know that are you a high-risk industry. 

You are required to know whether your business is a high-risk or low-risk industry? Get in contact with a payment processor service provider he will better let you know whether you are a high-risk merchant or not?   

What are High-Risk Industries?

High-Risk Industries are associated with getting higher-risk. The business that presents a risk in selling out the product or services to customers is considered to be a high-risk industry.

 Casino business, Online Gaming, Fantasy, Adult toys or Adult Entertainment, Tech Support, CBD oil these are some of the high-risk businesses since they are often related to having high chargebacks. These industries are subjected to having higher financial losses or damages hence they are considered to be high-risk. Though these industries are also the ones that generate high net worth annually.

 As per the saying “Price goes up, Risk goes up”. There is no need to worry about it if your industry is listed in the High-Risk column. Since some of the legal advisor or banks may provide you with the merchant account solutions that will allow you to have safe and secure business transactions. 

And if they don’t allow you to have a business account then a payment gateway service provider will surely assist you to have a business account that can allow you to accept payments on your website.   

What is a High-Risk Merchant Account?

A High-Risk Merchant Account enables high-risk businesses to accept online transactions for their websites. A high-risk business account is essential if you want to have credit or debit card payments on your website. 

A business account will provide you with efficient and smooth payment transactions that will allow your business to flourish successfully. Merchants are often concerned with getting safe and secure payments since online transactions are not safe.

 The Internet has also given liberty to cybercriminals and thefts to enter into security codes and get the essential information out for their benefit. 

Hence merchant’s needs to have high-security standards so that they can ensure all the payment transactions that are happening for their business are safe and secure.   

How do I know if I am a high-risk merchant?

A business that is expected to be high risk will have high chargebacks falling for their business. If your customer is not taking interest in your product or services due to any of the reason then you may have high chargeback. 

Since an unsatisfied customer is not willing to make payments for your product or services because of poor quality of services that you are offering or maybe your website is not so smooth and flexible that customer feels regret visiting your website. 

Hence, when you have a large no. of unsatisfied customers then you are betting on your potential customer. Losing your potential customer may get you higher losses.

 Banks or financial institutions may not provide you with an efficient payment gateway since they want to know whether you are related to illegal activity or not. Once they have verified that you are not connected to any illegal business. 

They will certainly come in term with providing you with the business account. All merchants are not eligible for getting the merchant account facility. We at WebPays provide payment gateway facility to merchants irrespective of their low or high volume business we assist them with providing safe and secure payment transaction.      

What are the options? 

WebPays is one of the leading payment gateway service providers that are driving merchants business to exponential growth by providing them with smooth and easy payment transactions. 

We provide a range of services such as ACH Payment Processing, E-checks, credit card processing, online gateway solutions, merchant account facility and other payment transaction solutions. We intend to closely know the business so that we can understand the nature of the business.

 Once we know the nature of your business then we can easily grab our resources and networks of banks to provide the merchant with the facility of merchant account.

 We process payment gateway within 5 to 7 business days. We have profound experience in providing payment processor that will allow you to accept payment through credit or debit card. Get a High-Risk Merchant Account that will help take your business to success.