Compare HIGH RISK Merchant Services before you make your choice
If you own a business then
you probably would have already realised
how important it is to accept credit
card payments from your customers to
survive the competition. For this
purpose you need to get a merchant
account and then apply for the merchant
services. However, before you make your
choice, you should compare the quality
and the rates of the merchant services
provided by different companies. Your
customers will not come back to you if
you don’t accept credit cards. But if
you accept credit cards from your
customers they not only come back to
you, but also purchase more thereby
increasing your average ticket rate.
Although, it may cause you some
inconvenience to obtain a merchant
account, the benefits that come with it
far exceed the initial inconvenience and
the price.
Before you go shopping for the merchant
account services, you need to have all
the information you can gather, about
your business. Well, if you think that
you know your business and don’t do
enough research then you might buy an
account which is not suitable for your
business.
There are many kinds of merchant
accounts and therefore, you should find
out which one will be most profitable
for your business. You have merchant
accounts where the credit card should be
swiped in a terminal. Then, there is the
online merchant account which is used by
businesses on the internet. The high
risk businesses will be able to get High
Risk Merchant accounts. The merchant
account that is exposed to least risk is
the retail merchant account.
The other type of account is the MOTO
account. It is short for “Mail Order or
Telephone Order”. The businesses that
apply for this account mostly take the
payments either through mail or phone.
These types of transactions are exposed
to high risk of fraud and therefore,
attract higher rates.
The ecommerce accounts or the internet
merchant accounts are used by merchants
doing business on the internet. This
account is exposed to the highest risk
and therefore attracts high rates. Then
we also have the high risk merchant
accounts for business under the high
risk category.
Any merchant service provider can give
you the merchant account that best suits
your business needs. But you should do
your research and ask why one kind of
merchant account is better than the
other one for your business. For
example, if you have a retail store,
then the merchant account provider will
suggest that you take a retail merchant
account. But the question you should ask
him is Why not a mobile merchant
account? Though you are very sure, you
will be in a better position by asking
that question or at least you will not
regret later that you did not ask this
question.
So once you have compared all the types
of services and decided the best one for
your business then, you should compare
the rates and the quality of service
provided by different companies before
making the final choice.
Contact
one of our helpful account
representatives to assist you in the
setup of
a
high risk merchant account or
offshore merchant account for a
high risk merchant. |