Utilizing the latest technologies, we handle all types of credit card requirments including high risk
As our name implies, we are here to help. For merchants who have challenges with chargebacks and excessive refunds, we guide on best practices and explain the pros and cons to some of the products offered in the industry to help cure what issues ail them.
Factors we consider include industry, target market, technology requirements, processing history, expansion goals, and financial risk. Then, after taking this holistic approach, we pair each merchant with the best-fit partner.
Since merchant agreements are determined by the level of inherent risk, it’s important to understand how the industry ranks risk. You might have excellent credit history, low risk of fraud, low chargeback ratio, and have fewer card-not-present transactions but find yourself still considered “high risk” because of the industry you’re in. This is why it’s important to understand risk as determined by the industry.
When you’re in a low-risk industry, with excellent processing history, and strong credit, you have so many options it can be overwhelming. How do you know you’re getting the best solution?
With our consultative approach, we connect you with the acquiring bank that matches your precise credit card processing needs. Low-risk merchants typically enjoy free terminal and mobile credit card reader options and low payment processing fees. We also help you avoid pitfalls not commonly considered with low-risk processing like having your account frozen due to a spike in sales that wasn’t expected, or not having essential fraud detection protocols in place. We make sure you’re covered regardless of the risk level.
If you find yourself in a medium-risk industry, have some credit or haven’t yet built-up history, you might accept an agreement for the wrong reasons and miss out on the right deal, costing you higher fees.
Your transaction dollar amount may attribute to you falling into the mid-risk category for merchant processing. Or maybe you have issues with chargebacks. Our approach and partnerships enable us to connect businesses in this risk group with the best credit card processing solutions. We also offer guidance on how to reduce risk, improve chargeback ratios, and lowering the number of declined transactions.
For businesses considered high risk, we specialize in matching you with the financial institution that welcomes your business. When you get flagged as high risk, options can be limiting and you might find it difficult to find a good solution and feel pressure to accept the first “yes” you receive, costing you dearly.
Our unique relationships allow us to connect hard-to-place merchants with financial partners who understand high-risk industries and work with merchants who have difficulty due to lower credit scores, or no processing history.
Low-risk merchants typically have little to no chargebacks with a solid financial history. Industries considered low risk include retail, pet supplies, online apparel stores, parking garages, book and music stores, and auto parts businesses. Also, merchants typically have the majority of their sales come from card-present (CP) transactions.
It’s easier for thieves and unauthorized users to run someone else’s credit card, which results in higher percentage of chargebacks.
A merchant account enables businesses to accept credit cards. The money collected then is transferred to your business bank account by your merchant service provider.
For in-person transactions, compare the signature on the receipt to the signature on the card and verify the card number on the receipt matches the card number on the card. Do not accept expired credit cards. Print your return policy on the credit card receipt close to the signature line, if applicable. Don’t accept credit cards that appear to be altered in any way. Obtain authorization for the full amount of the sale. If the card comes back declined, do not pursue authorization.
For card-not-present transactions, be sure you are clear about return policies on all communications including website, emails, and other communication methods. Utilize security features like AVS to verify billing addresses and zip codes and CVV2 to verify the buyer has possession of the card. Ship the purchase to the billing address and obtain a delivery signature by the shipping company. Do not charge the amount until you have shipped the merchandise. Include your customer service phone number on the customer’s bank statement. International purchases increase risk so pay close attention to the security details.