Choice High Risk Merchant Solutions – The Advantages

choice merchant solutions high risk accountsIn this modern age where ecommerce has taken over direct selling as the primary means of trade the ability to accept all major credit cards is a feature most consumers look for in a supplier, retailer or even a service company. A merchant is therefore a must if a business is to add online selling to its functions. A merchant account is what will enable an entity to process payments over the internet through a virtual payment gateway which makes it possible for the seller to accept credit card and debit card payments. High risk enterprises however, tend to encounter a lot of difficulty in obtaining such an account.

High Risk Businesses

These commercial entities are labelled as high risk because they are very prone to fraud claims and chargeback. They regularly tend to have people accusing them of being a scam or a hoax or people claiming to be unsatisfied of the product or service and thus are now demanding a refund. These qualities make such enterprises unstable and forecasting becomes almost impossible. Providers such as insurance companies and payment processing companies therefore tend to avoid entering into deals with them because of the risk of such clients entering a state of financial difficulty and becoming unable to pay for the provider’s services.

Choice High Risk Merchant Solutions

This provider takes pride in being unafraid to accommodate high risk entities and provide them with top of the line solutions at very affordable prices. It is dedicated to help improve the economy by increasing the quality of products and services through tighter competition. Tighter competition can be achieved by increasing the number of successful businesses. This company will place your business under thorough study in order to formulate a merchant solution that is best fit for your business needs.

How Credit Card Processing Benefits A Small Business from Choice Merchant Solutions on Vimeo.

 

 

Choice High Risk Merchant Solutions will provide you with a merchant account that comes with the following advantages.

1.      1 day processing

2.      24/7 live customer support

3.      Competitive pricing

4.      Currency conversion solutions

5.      Innovative and technologically advanced

6.      Real time credit card payment processing

7.      Real time report function

8.      Secure payment gateway

9.      Works on offline credit card purchases

10.  Works with all major credit cards

Advantages of Owning a Choice High Risk Merchant Solutions Account

Setting Up of Merchant Account from Choice Merchant Solutions on Vimeo.

 

 

High risk businesses often have a hard time entering the world of e-commerce because it is very difficult for them to get a merchant account. Such an account is a necessity in online trading because it is what allows a supplier to accept the commonly used online payment methods such as credit cards and debit cards. The primary reason why providers avoid businesses such as adult entertainment, online pharmacies, online casino/gaming, travel, replica, online dating etc. is the fact that the chance of them failing and therefore becoming unable to pay for the solution is significantly higher than average. The risk is mainly caused by the high probability of their customers demanding for chargeback.

About Credit Transaction: http://en.wikipedia.org/wiki/Fair_and_Accurate_Credit_Transactions_Act

Choice High Risk Merchant Solutions is committed to helping businesses grow, regardless of the degree of risk they are exposed to. This is why it is willing to provide merchant accounts to risky businesses especially those small and medium enterprises who cannot afford the high rates of other solution providers.

choice merchant solutions high risk accountsBenefits provided

Choice High Risk Merchant Solutions will provide your business a payment processing solution custom made for your enterprise. Your merchant account will have the following features:

  1. Accepts all major credit cards
  2. Access to a worldwide market
  3. Cost effective Ecommerce solutions
  4. Credit card processing services
  5. Credit card scam and fraud protection
  6. High volume merchant account facilities
  7. Highly advanced infrastructure
  8. Multiple currency option
  9. Online reporting capabilities
  10. Recurring billing capabilities
  11. Reliable and secure payment gateways
  12. Safe and simple API structure
  13. SSL encrypted servers
  14. Various payment options

Best Merchant Processing: Choice Merchant Solutions

Merchant Accounts with High Risk Credit Card Processing

Choice will provide you with a high risk merchant account that is perfect for your needs along with a credit card processing service that works anywhere in the globe. You will be given your own virtual payment gateway that is safeguarded with several layers of encryption and firewalls that will allow you to process credit card payments in a quick and secure manner. This provider will help you reach consumers that were totally out of your radar before. Your company will realize a huge increase in sales that will greatly propel your business to grow and expand by leaps and bounds.

Benefits of Securing Choice High Risk Merchant Solutions

Want A Credit Card Merchant Account? Try Choice Mercahant Solutions from Choice Merchant Solutions on Vimeo.

 

 

There are certain businesses that are exposed to significantly higher than average risks which make their revenues and profits very unstable. They make huge profits with each sale but make sales at a very low frequency. These qualities make the assessment and forecasting of the revenues and profits very difficult and unreliable. This is the reason why in spite of the numerous merchant account providers all over the globe only a few are willing to provide for high risk companies. Almost all of these providers charge fees depending on the degree of risk involved. The greater the risk, the greater the fees will be. High risk businesses are also subjected to the strictest and tightest terms and conditions. Most even require and minimum reserve to be maintained by their client which may heavily restrict the operating assets of the company. Choice High Risk Merchant Solutions aims to help small and medium high risk enterprises by giving them a much looser and significantly less strict merchant account.

Related Topics:

  1. http://www.inc.com/guides/credit-card-payment-online.html
  2. http://www.wikihow.com/Sell-Credit-Card-Processing-Services-to-Merchants

 

Businesses with High Risk

There is a universal list of high risk businesses but the degree of the risk that comes with them depends on numerous factors and the perception of the solutions provider. One provider may view a company as having a degree of risk different from the view of another provider. Given below are some of the common high risk businesses.

  • Adult Industry
  • Alcohol and Tobacco Retailing
  • Casino/Gambling
  • Hardware and Software Products
  • Many kinds of Online Businesses
  • Medical Suppliers/Pharmacy Industry
  • Payday Loans
  • Shop Orders received by Mail and/or Telephone
  • Sports Betting/Wagering
  • Travel Industry

 

choice merchant solutions high risk accountsAdvantages of Securing a Merchant Account for Such Businesses

Choice High Risk Merchant Solutions does not reject applications just because the risk involved with the business is very high. In fact, one of its goals is help such businesses thrive and stabilize. So do not think twice in contacting the said provider. Given below are the numerous advantages in can bring to your company.

  • Can process numerous currencies
  • Can retain all existing processes and functions
  • Comprehensive reach at a global scale
  • Customized billing options
  • Fail safe safeguards from scam and fraud
  • Guaranteed safety and security
  • Low cost e commerce payment processing solution
  • Multiple layers of encryption
  • Online payment schemes
  • Real time 24/7 reporting
  • Supports any kind of infrastructure
  • Utilizes the latest in merchant account technology

Common Fees Involved in High Risk Merchant Processing

best merchant solutionsMost business owners who enter into high risk merchant processing get confused by the numerous kinds of fees being thrown at them. Some even feel cheated or scammed because the number of fees is too large they cannot even memorize them all. Knowing these fees and what they are for is essential to what exactly are the services you are paying for.

Authorization Request Fee

This fee is incurred whenever the merchant sends request to provider’s bank asking permission to take charge of processing your funds. This see is incurred immediately after the bank takes notice of the request. The fee needs to be paid regardless of whether the request is approved or denied.

Related Topic:

https://www.hostmerchantservices.com/2012/02/five-security-tips-for-merchants/

Transaction Fee

This fee is incurred when the merchant receives the notice that the bank has approved his authorization request. No amount needs to be paid if the request was denied.

Statement Fee

This fee pertains to the processing the merchant has performed for the month and any expenses he has incurred while performing his duties. The provider is obligated to reimburse all expenses.

Batch Fee

This fee is incurred each time the merchant sends its complete list of transactions to the bank so he can claim his earnings. Batching is essential because it allows the merchant to claim his share without having to pay extra to the credit card provider.

best Merchant SolutionsCustomer Service Fee

This fee is paid by merchants to the provider to reimburse him of the cost of hiring customer service representatives to take care of customer concerns and queries.

Annual Fee

This fee functions as a bonus incentive to the provider for being able to maintain his account for one annul.

Quarterly Fee

Some providers require merchants to give them incentives after every three months instead of after every 12 months.

Early Termination fee

This fee is charged by the provider if the merchant conducts a premature termination of the contract. This fee is often very material as it serves to discourage merchants from backing off from their obligations. The provider may even sue the merchant and try to claim the amounts he would have earned if the merchant did not suddenly quit.

Want A Credit Card Merchant Account? Try Choice Mercahant Solutions from Choice Merchant Solutions on Vimeo.

Chargeback fee

This fee is the materialization of the term “high risk” in high risk merchant processing. Chargebacks happen when a consumer thinks that the product he received is not as good as advertised and he asks for his money back. Since the account is under the name of the provider, he will end up shouldering the loss.

Frequently Asked Questions About High Risk Merchant Processing

best merchant solutionsMany people are confused about high risk merchants and how to choose their clients. This is understandable because different merchants have different ways of studying a client and assessing if the risks that come with him are worth it.

1. What is High Risk Merchant Processing?

High risk merchant processing is the management of business entities that are classified as high risk. The said entities have a significantly higher charge back ratio as well as very high rate of product returns and more frequent sales disputes. A charge back is considered high if it exceeds 1% of the total sales for the particular period. Examples of these are collection agencies and motor companies that sell on installment basis. Another group of high risk businesses are those that are threading a fine line between legal and illegal such as escort agencies and erotic massage parlours.

2. How long does the creation of a high risk merchant account take?

The degree of risk involved in a business is the biggest consideration. The larger the amounts involved are and the larger the risk of loss, the longer it takes for the solutions provider to conduct a thorough study. Such enterprises may wait for up to two weeks before their account becomes usable. Small companies on the other hand may wait for only a day or two to be able to use their merchant accounts.

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3. What is the High Risk Merchant Processing Reserve?

This reserve serves as a cushion for the processor in case the client suffers major losses and suddenly goes bankrupt. The amount is often between 5 to 10% of the maximum allowed sales to be processed by the merchant. The merchant can hold the amount from a few months to up to a year depending on the degree of risk. The reserve is also used for payments on disputes, returns, charge backs, etc.

Choice Merchant Solutions Explained Credit Card… by ChoiceMerchantSolutions

4. Do start-up businesses have a chance of obtaining a merchant account?

It depends on the overall assessment of the company. The merchant will check the history of the people of the company that have powers of administration. Their credit history and record of past disputes will be the first one to be checked. The soundness of the business plan as well as other factors that greatly influence the success of a business will be considered.

Businesses that Require High Risk Merchant Processing

best merchant solutionsHigh risk merchant processing refers to credit card solutions offered to businesses are either operating on a high risk industry or are continually at risk of financial failure or both. The first condition refers to the work environment or nature of the business while the second condition refers to the instability of the company to ensure its continued existence. Such classification is necessary because businesses falling into this category have high chances on failing on making payments, discontinuing transactions, making absurd complaints and requesting refunds, etc. Electronic processing is hard for the said entities because most solution providers shy away from them.

High Risk Merchant Processing Solutions

The high demand for this kind of solutions provider forces some solution companies to take the gamble. Not only is the competition low, high risk entities are also often willing to pay above the market price. This is because these enterprises can make huge income with just one sale. Conversely though, one defaulting customer can cause significant problems. The provider needs to undertake additional steps to provide his client with the best level of service. Tracking and other security functions of the system should be improved.

Collection Companies

Collection companies and institutions that sell on instalment basis are the most easily distinguishable high risk entities because the odds of a client defaulting on his payments are quite high. Repossession of an item often leads to huge loses which may hurt the ability of the particular business to pay the fees charged by his solutions provider.

Also Read: http://www.guardianfinance.com/high_risk_merchant_account.htm

Comprehensive List of High Risk Businesses

  1. Adult Sites and Products
  2. Amusement & Recreation Services
  3. Auto Rental
  4. Bail Bondsmen
  5. Buying / Shopping Clubs / Wholesale Clubs
  6. Lotteries
  7. Cellular Phones & Beepers
  8. Check Cashing Services
  9. Coin Shops
  10. Collection Agencies
  11. Computer Stores
  12. Credit Repair
  13. Credit Interest Rate Reduction
  14. Custom Products
  15. Dating
  16. Detective Services
  17. Door-to-Door Sales
  18. Downloading of Software
  19. Escort Services / Massage Parlours
  20. Gun Shops
  21. Hair Restoration Services
  22. High Volume / High Ticket
  23. Home / Apartment Operated Business
  24. Horoscope / Fortune Tellers
  25. Infomercials
  26. Insurance Products
  27. Investment Opportunities
  28. Internet / Custom Jewellery Sales
  29. Meat Provisions, Freezer, Lockers
  30. Mortgage Services / Securities Sales
  31. Multi-level Marketing
  32. Outbound / Inbound Telemarketing / Phone Solicitation
  33. Pawn Shops
  34. Internet Pharmaceuticals / Vitamins
  35. Seminars, Educational
  36. Sports Cards
  37. Sports Forecasting / Consulting
  38. Telecommunications Equipment Sales
  39. Time Share Sales
  40. Travel
  41. Used Auto Sales
  42. Water Purifiers
  43. Weight Loss Centres

What is a Merchant Account by Choice Merchant Solutions from Choice Merchant Solutions on Vimeo.

 

How Does Choice Merchant Solutions Work?

If you’re an ecommerce manager or are attempting to sell any type of electronic product online it’s time you begin to enhance the performance of one’s traffic. Mizzen Media is promoting a course targeted specifically to quality on the web shopping cart software merchants.

merchant account operatorThere’s an elephant of possibility within many online retailers which on average has ended looked. Shopping cart software abandonment does occur in as much as 8577 of clients trying to buy a item. Every business must have a well toned income technique set up especially for this number of lost customers.

Whenever a plan is created using the indecisive/shopping wagon abandoners in your mind, amazing lifts in income and earnings occur.

 

Firstly you’ve to think about, what’s the consumer who abandons your website thinking? Naturally some consumers may leave because of the vendor lacking the right item that they are searching for Choice Merchant Solutions. These revenue can’t be saved.

Still another important section nevertheless are what we call the serious procrastinaters. This class is truly enthusiastic about the services and products the vendor is promoting, but are currently in the checking stage and aren’t determined to pull the trigger on the purchase. Without a thing that leaps out and holds this shopper’s interest, this person will search from your website in to your competition and will basically become a lost customer.

Best Merchant Services Provider

A course should be created which specifically targets this class. Choice Merchant Solutions has generated among the very best programs available which uses an automatic sales character to supply incentives laser targeted for this particular customer segment. Through the utilization of an onetime offer the waiting client gets an offer which inspires them beyond their particular delay preserving a purchase which otherwise might have been lost.

If you should be a business and currently don’t have a program targeting involved procrastinators a great spot to start is calling Mizzen Media and wondering about their Instaconversions program. They are usually very particular, but when your site qualifies they’ll work directly with you in an extended term ability to enhance your present traffic raising your conversions and raising your bottomline.

How To Get The Best From Your Choice Merchant Solutions

Merchant SolutionsResearching business credit card machines may take sometime nowadays. There are a wide variety of manufacturers and types to select from, that it might have a large amount of hours to obtain the one that best suits the thing you need for the company. They include different features, and different functions, some you may want or require, and some you may perhaps not. And the costs are different based on your choice.

All of us know that the fundamental work that these credit card products conduct is in handling credit cards, and charge cards, and also electronic checks. An example of the credit card machine is just a credit card terminal. Whenever you take a peek at these devices, you’ll find that they’ve developed significantly with engineering, but that lots of the old designs continue to be around.

It’s all Instant

These old types were originally created for operation via a phone line connection. But today, we’ve some that are instant, and some that run through DSL connections or high speed Internet connections. All of these will be different within the cost office. There are vendors who choose for renting their charge card machines, and there are those who choose to just buy their machines outright. This can be determined by which calculates best for the situation.

There are IP suitable devices out there that’ll enlist the assistance of a higher speed Internet connection. What they are doing, is connect an ‘Ethernet wire’ straight to your terminal which will provide you with among the fastest deal times going. They really may reduce the amount of time in half when comparing to a phone line connection. They’re very efficient in both rate and convenience.

ATM Cards

Great Merchant SolutionsThere are several smart suppliers who also begin to see the requirement for catering to clients who only have ATM cards or charge cards. So that they also obtain an addition for their terminal, that will be the ‘PIN’ mat. In this way any client having an ATM or bank card can strike in their pin figures and access money for buying items. It’s easy and it’s good business.

On the web stores will find what they call ‘digital’ devices. These terminals perform the same as the conventional terminals you see in the mall, however they are online. It offers them the capability to process all of the main cards and simply take digital inspections as being a real shop. They’re an essential device for just about any online merchants.

Get more details about Choice Merchant Solutions on :

http://blog.crowdspring.com/2011/02/merchant-account-small-business/

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You may also discover the WiFi devices for handling credit cards also. Many may start using a Linuxbased operatingsystem that provides you interchangeable modems and a modular structure. As it pertains to pace, these are the surface of the point. Additionally they provide flexibility and a worldwide connection. All that’s necessary will be within close array of a current Internet connection that’s a radio router with it.

Researching business creditcard machines can definitely have a little thought and research. However they are created for use with businessmen and women who have to process credit and credit cards and electronic checks. Conducting business currently indicates catering to card holders. Therefore these devices are a useful source for the current business.

Business Guidelines for Choosing Choice Merchant Solutions

merchant account providersWhen it comes to business, this estimates appears very appropriate ‘You cannot do today’s work with recently techniques and maintain business tomorrow.’ It’s definitely correct and today the business may be the only area this one can view a good income in, at the same time frame can get damage when they don’t follow some good methods within their business. To handle your income, you’ll need some software’s and the POS application suits better for the place of purchase. The problem is the way the POS pc software can enhance your business? Therefore to proceed further, let’s see in this manner.

POS Programs

It’s pc software that’s the ability to change the computer like a check out. This time of sales program allows the vendor to change the best way to manage sales, fees, deals and age-restricted products. It’s a method to entice your customers and keep customers returning to your store since you made their purchase a simple one particular as reducing their payment time. In these times you can observe in the stores, the merchants are providing devotion cards, layaway and ship to store. It’s all because of POS pc software created within the POS equipment. The POS equipment can be an simple way to provide a store a competitive advantage over his opponents. It’s a take a look at process that’s a few of the following elements including General computer hardware General computer software, Checkout hardware, Checkout software and various shop hardware.

How to Setup a Merchant Account?

http://www.wikihow.com/Set-Up-Credit-Card-Processing-for-Your-Business

http://bizfinance.about.com/od/accountsreceivable/a/setting-up-merchant-account-credit-card-processing.htm

Choose Right Merchant SolutionsBecause of several improvements, people often do not have money in their hand and they’re now dependent more on cards like credit card and charge card. If they discover the shop that don’t have access to these cards, they get unhappy and broadly speaking they come out for a shop that’s all these services. This affects your business to a larger degree and when you have some POS hardware’s such as for instance USB credit card reader, USB bill printer, money cabinet, USB barcode reader, USB flag mat with card swipe and stands on where the cost products are kept with some builtin POS software’s, then certainly the clients prefer to purchase from your own store.

Retail POS Program

The retail POS program by choice merchant solutions reduces the exchange time and escalates the client satisfaction. It will help to reduce inventory and pricing problems. Many level of sales program pc software interrelates with a barcode reader for simple product access and enables the sales person to see realtime stock levels with price changes. In addition it helps you to calculate subtotals, totals and alter due, and eliminates all of the individual problems in the sales process. You can see the realtime information because it is happening and with the aid of the activity studies, you can make the future acquisitions easier for the customer. That retail POS program not just enables you to get profit in income, but additionally it creates profit from the managerial perspective. How long are you using the old methods of payment and sales activities within your store, just enhance your business in a contemporary way by using all of the POS gear, hardware and techniques.

Getting The Best Choice Merchant Solutions POS Systems

Setting Up of Merchant Account from Choice Merchant Solutions on Vimeo.

Similar to a credit card, a company line of credit vendor money progress also works very similarly too. Unlike a business loan or any loan, one great advantage of utilizing a vendor money progress business credit line is the fact that the total amount could be drawn down as needed. In this way it’s guaranteed that simply interest on the part of money that a small business manager may use at any given time, needs to be paid. The use of this kind of credit service for an organization should be thought about when all of the money upfront of the company is needed.

Merchant Processing

Offering a considerable quantity of security for your vendor money progress business credit line is something which must be supplied by business owners in nearly every situation. Records receivables, business home, cash flow of the business, stock, individual real estate, cars, are some traditional items of security which have to be placed against a vendor cash progress business credit line. Unlike a recently opened business, a somewhat reduced rate of interest is linked to the business credit line received for a business that’s already operating.

POS systems providerWhen it comes to companies which have just been started, another to the kind of business capital would be to bring a home equity credit line against an individual property. Business owners should bear in mind there’s an incredibly high risk related to this kind of business capital. The explanation for this is the fact that the worth of a house has been pledged as security to finance a brand new business enterprise. The very fact that an individual guarantee from the business credit line must also be primarily offered is one more thing that shouldn’t be ignored by business owners.

Strategy for Business

Whenever a lender has been acknowledged with this kind of funding, having a well toned business strategy or business prospectus will become necessary. To obtain a vendor cash progress business credit line a cash flow analysis, stability sheet, business percentages site, loan amortization dining table, an expected gain and loss statement, all have to be offered. At the very least 3 years of tax statements in relation to the private income of the business manager along with the income the business creates, is also needed to be submitted to banking institutions. That deal that’s basically must show up to the lender could be come up with utilizing the help of an accountant or even a economic adviser.

In summary, the most perfect method of funding an organization is via a vendor money progress business credit line since a substantial get a handle on over using the resources emerges to the business owners. A vendor money progress company line of credit can also be relatively more ideal since it requires lower rates of interest and also lower costs associated with the credit service. Ergo, business owners can gain to a great extent by getting a business credit line unlike when getting a business loan that can gift suggestions numerous dangers and can place them in difficult situations. All that remains is choosing the best supplier of the business credit line and Merchant Cash Loan is actually a perfect choice.

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