Choosing HIGH RISK merchant account providers
It is very important to do a careful
research before selecting a specific
merchant account provider for obvious
reasons. A merchant will never want to
end up paying high fees every month.
Also, no merchant will want to shell out
more than what is required on processing
solutions. However, there are several
other factors other than price which
need to be considered before selecting a
particular account provider. The first
important thing is to never select
merchant accounts in a hurry. While
moving too fast, a merchant might just
happen to lose a good deal. Following
are the chief factors which need to be
considered while selecting merchant
The details of each of these factors are
provided below which will guide
merchants in selecting providers.
Merchant account provider’s integrity –
Assuming that a merchant account
provider is genuine by the website post
or the information given over the phone
is a big mistake. This industry has
several greedy and ruthless sales
persons who seem to have vested
interests. Following are a few cases
when merchants need to be cautious and a
few suggestions to check the integrity
of the provider:
Each time a call is made, the call gets
answered by the answering machine.
The representative fails to clear
questions asked about the fees of the
merchant service agreement.
If the representatives use free
web-hosting services or a free
domain-name. If the providers cannot
afford their own domain name, then they
needn’t be in the industry.
Be cautious if all the service fees and
rates are not posted in their web site.
It is advisable to scrutinize merchant
agreements so that suspicious conditions
can be questioned.
Searching for online newsgroups or
consumer reports for unsatisfactory
remarks given to the company is a good
Top-Notch customer service – By getting
carried away with great rates, one may
forget about the customer service. This
factor is vital for smooth processing of
transactions and long–term success. One
will not want to receive long hold
periods and busy signals. Moreover,
downtime will lead to loss of money for
the merchant. Following are a few
aspects which should be met for
obtaining better customer service:
Reliable availability. This factor is
important if a business operates on all
the days in a year.
Courteous, friendly representatives who
have good knowledge.
Hold time is less than 5 minutes.
One last point to be remembered is that
a merchant should not be fooled by
merchant account providers who say the
reason for high rates is high-quality
customer support. A slight increase in
price may be acceptable but high
pro\ices should certainly be rejected.
Since providing services to customers is
vital, it should not be the cause for
shelling out a huge amount when compared
to other providers. The only reason for
the merchant account providers to charge
exuberant fees for customer service is
to fill their own pockets.
one of our helpful account
representatives to assist you in the
high risk merchant account or
offshore merchant account for a
high risk merchant.