There are companies that are at higher risk of fraud with stolen credit cards. Not all buyers are trying to deceive sellers, but they are there to try to spread that idea to other processors and major merchant account providers. These companies are high risk and need a high risk account.
High risk companies may also face acceptance problems. Most High risk business solutions in London providers do not intend to engage in high-risk products and services because of financial risk.
However, having a high-risk merchant account can allow a company to manoeuvre around most account processors. They can do this by providing similar services for processing payments using cards at very reasonable rates.
In addition to this, high-risk merchant accounts also have certain advantages. Here are three of the most common benefits that companies get when acquiring an High risk business solutions in London.
Benefits of having High risk business solutions
1) Minor difficulties whenever charge backs occur
Contrary to popular belief, a low-risk merchant account also carries its own risk: an overhead of chargeback’s may result in the closure of an account, which is a major concern for any business. Since the merchant account is high risk, the supplier company will be informed of any potential danger that may arise beforehand. When a person uses a fraudulent card or when a chargeback occurs, the loss of an account will not affect the business. The account provider will ask the company to take its preventive measures to protect against any form of fraud.
For High risk business solutions, suppliers will typically require a company to hold a reserve fund to prevent downsizing from affecting the overall progress of the sector. The percentage of average monthly sales can range from 5 to 10%. What the supplier needs as a reserve amount depends solely on various explanatory factors when opening the account. The account must also contain a specific amount for a given period.
Although many see these measures as a problem for most businesses, they are still needed for high risk business payment processing.
2) High security standards
It is impossible to get rid of all deceptive credit cards, but it is possible to catch them with indicators and several other detection strategies.
Most high-risk merchant accounts at Radiant Pay use a reliable set of detection strategies during the trading phase. These process sets will determine whether the card is authentic or not. These methods can also protect the business, the account provider and the card owner against fraud. The less misleading transactions are, the better your business will be.
3) Avenue to greater market opportunities
Applying for a high risk merchant account also gives you the opportunity to establish and create an online sales website. Without a site, a given business will be limited to a local market, thus unnecessarily hindering growth and incomes. Whether it’s a product sold or an acquired service, it really does not matter. Obtaining credit card processing at http://radiantpay.com/highrisk.html will generate more customers who prefer to secure their credit / debit cards easily and securely.
Even if you accept cards, you can certainly deal with risk, scam and fraud levels, but you can certainly eliminate some of the risks when you use a legitimate merchant service provider. All aspects at stake, from the business to the merchant, through the customer, will benefit in the long run. Always remember to choose to make wiser decisions.