USES OF HIGH RISK ECOMMERCE SPORTSBOOK MERCHANT
ACCOUNT
When online merchants have problems
regarding processing of credit cards,
the problems can be tackled in many ways
and you may have many questions.
Previously, the account providers and
processing banks check the credit
history of the online merchant before
giving him the merchant account and the
services. After passing the initial
check up together with some auxiliary
verification's, the business of the
ecommerce merchant is evaluated.
Unfortunately, it is not an easy and
smooth process. “E-Commerce Business
Evaluation” process is very complex and
most of the applications get rejected
during this process. The providers of
the processing services also check
whether the merchant’s e-Commerce
business will have sufficient number of
transactions to meet the minimum
payments for each month. The checks
don’t end here. Some types of businesses
are blocked by the providers because
they are considered as “high risk e –
Commerce Businesses”.
The “High Risk E-Commerce Merchant
Accounts” are primarily used by high
risk online businesses to process
card-not-present transactions. Each
account provider and merchant services
provider has a predefined list of
businesses which are considered as high
risk. Therefore, you should go through
their list before applying with them. If
your business is classified as high risk
business then you should get in touch
with the “High Risk E-Commerce Merchant
Accounts” providers.
The common businesses that are
classified as high risk are ISP’s and
telephone companies, Companies providing
hi – tech appliances, PC hardware
components, software download, dating
websites and online gambling and online
casinos, among others. Websites
providing adult content are also
categorised as high risk businesses and
not many providers of “High Risk
E-Commerce Merchant Accounts” are
willing to do business with them.
“High Risk E-Commerce Merchant Accounts”
and services allow the high risk
businesses to accept credit card
payments from their clients, which is
required for the growth of their
business. This is the only option for
you when all the local banks reject your
application. Taking some precautions
will reduce chargeback’s due to credit
card fraud; however most banks and
service providers don’t want to take the
risk of working with such businesses.
The three main uses of “High Risk
E-Commerce Merchant Accounts” are:
1)
Accepting Credit Card
Payments by High-Risk e-commerce
businesses
All the banks and merchant service
providers would have rejected your
application because of the
classification of your business as high
risk. In such a case you can obtain the
“High Risk E-Commerce Merchant Account”
and accept credit card payments from
your site.
2)
Precaution
If you have a business which may do more
chargeback’s than the permitted limit
then it is better for you and your
business to go for a “High Risk
E-Commerce Merchant Account” so that
your credit card report will be
protected.
3)
A Merchant Account
Though you run a business that is not
classified as high risk, many bank and
service providers reject your merchant
account application if your credit
history is bad. In such cases you can
apply and get the “High Risk E-Commerce
Merchant Account”.
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. |