We have been writing about various properties of the high-risk merchant account market for a very long time and have almost sure touched on most, if not all of them, of the most important problems. Here are some more guides on high risk merchant services.
High-risk merchant accounts are a subset of financial services that allow companies to accept card payments from customers. Credit card processors assign merchants to one of two categories: high risk or low (normal) risk, based on a number of factors. High-risk merchants face limited choices in processors, plus raised fees and harsh contracts. Being considered as high-risk sounds terrible. But in some cases, it can be your only option.
It’s practically impossible for online shopping merchants to do their business without accepting credit or debit cards. Before you can take “plastic,” you need a payment processor who acts as a link between you, banks, and credit card networks.
Lots of financial service providers do business exclusively with low-risk merchants, who they see as a safer investment. That means businesses considered high-risk will have a very poorr selection of potential processors to choose from. Any processor you approach will take a careful, detailed look at your business to determine if you fall under their definition of “high risk,” based on the financial risk your company represents.
Here are some high risk credit card processors : With flexible multi-currency accounts, Durango Merchant Services works with both US and international merchants. The company has earned high marks for its outstanding customer service and customized pricing plans.
Instabill was one of the better high risk merchant account providers we came across in our search. Their customer support agents were very clear and forthcoming with information. One thing to note is that Instabill is not cheap. For example, a Tech Support business would need to pay 4.95% + 0.25 plus the interchange fee for every transaction. That is significantly more than what non-high risk merchants charge, and even slightly higher than other companies on this list. However, this is unavoidable in high-risk industries. The reason we were pleased with Instabill’s offer was due to how easy it was to get pricing information in the first place – something that can’t be said for a lot of their competitors. Instabill does not post any of their prices online, since the cost will be highly dependent on the industry and bank involved in setting up the merchant account. However, you can get a quote by speaking with a sales representative and obtain a quote very quickly.
We did transactions on all of the high risk credit card processors, to be able to compare and our pick was HRMA-LLC. They cover all business types, have a huge experience in the business, fast customer support and low fees.
Do you have a business related to High risk ach processing ? HRMA-LLC can help you. Read more details on High risk merchant processing.