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.