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TYPES OF RISK WITH HIGH RISK MERCHANT ACCOUNTS

In the past, we know that many fraudulent cases have been reported with the banking systems. There are many types of risks in merchant account. The fraudsters are people with lot of intelligence who are also called as scammers or hackers. The fraudster creates foul play in any business to distort the smooth functioning. The problem which arises in an online merchant account business is the fear of frauds. The year 2002 was considered to be the most loss year as $ 15 million was an overall loss due to the fraudsters and scammers in merchant account. Various rules are placed between the merchant and the customers to be followed while maintaining the merchant account or the merchandise business. A merchant needs to be very careful while dealing or making any kind of transactions with the customers and the customer also has to be careful with the merchant they choose while doing business.

Today, the fraudulent activities are put under the control of the online banking services and carious new techniques have emerged to stop the activities of the fraudsters. One of the common examples of scam prevention in a merchant account is Authorize.Net. The Authorize.Net is an improved way of scanning a faulty attempt or scam while making transactions between the customer and the merchant account holders. It also supports the Authorize.Net Virtual Check by which a merchant can easily accept bill payments through electronic check. This system helps in screening process of any fraud and scams in merchant account. This system is supported under the Secure Sockets Layer (SSL) encryption. This system is dexterous in catching any faulty transaction and other risks. The credit card is scanned to check any faulty matters in the business using these modern technologies of the internet. The scanner automatically checks for invalid email addresses, tracks down the IP address of the internet network, credit card number as well as its expiry date, etc.

Those merchant account holders are offered 128 bit protection of the SSL encryption through which the Authorize.Net Secure payment Gateway system processes the online checks. Likewise, there are many other branches of the Authorize.Net. It monitors the entire merchant account card processing and also protects from any types of risk in merchant account. These are the high risks in merchant account. Today, due to the online marketing services, the merchant and the customers are physically not present face to face. The merchant also cheat the customers on certain dealings and transactions. When a merchant obtains a new merchant account, many details of the merchant and the type of his/her businesses is recorded and kept as important. A customer can check the background and database of the merchant before making any transactions and the dealings. Thus, both the customer as well as the merchants can continue their business dealing safely due to the impact of the online banking services and online payment systems. This type of risk in merchant account can be faced either by the merchant or the customer. 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.