Businesses that have high credit rates, increased risk factor, potential fraud in addition high turnover fall into the “High Risk” category. Merchants with high risk businesses have a difficult time getting accepted with banks and credit card processors and many CBD merchant account account providers are not prepared to take the risk. Usually the charges tend to be so high that most merchants back out.
Businesses related to industries like adult entertainment, online pharmacies, replica products, gambling and casino providers, travel, sports wagering, online tobacco business, alcohol, online dating, computer hardware and software, debt services, hosting and email services etc are believed high risk.
The major reason for banks and processors for turning down the dangerous merchants is the volume (caps) limit. Because these contractors are high risk, there is always a chance that turnover would be high along with the merchant account would be closed down due to this.
Very few merchant account providers will offer you high risk merchant account services for all your small business needs with along several major benefits. With a risky proposition merchant account you basically require various services that will aid facilitate your business. Not every high risk merchant account service provider will make available to you real-time and cost effective solutions with a completely foolproof setup. Having an e-commerce business without a shopping cart is next to impossible and so you require a provider whose services will enable you and your customers to process transactions online. With the internet fraud on rise, make sure that your high risk merchant account provider is also to provide online fraud protection with scam control and SSL encrypted servers so that you can process the payments without any worries. Automated recurring billing, online reporting, dependable infrastructure, 24/7 customer support, multi-currency processing and major credit and debit card acceptance are just a some of the major benefits that your high risk merchant account provider should offer.