The Definitive Guide For High-Risk Merchant Account
What Is a High-Risk Merchant Account?
High-risk industries are industries that are prone to fraudulent sales and chargebacks.
These industries need high-risk merchant account where you can accept payments.
A high-risk merchant account can be used by these businesses to process credit card transactions.
Why High Risk Merchant Account is Important?
A high-risk merchant account is very important to receive payments.
Companies that have over $20,000 in sales per month, average credit card sales of $500 or more, or a business that has a bad credit history may also need a high-risk merchant account.
A high-risk merchant account may have higher fees and different terms than a traditional merchant account as well.
Don’t worry if you fall into these categories, as there are still plenty of excellent merchant providers available.
Which Industries Need High-Risk Merchant Account?
Companies that experience a high number of chargebacks and fraudulent sales are considered high risk.
These include eCommerce sites, events, travel, internet services, and more.
Below is a list of industries that are considered high risk.
The list is not complete and many other industries are prone to chargebacks and will require a high-risk merchant account.
If you’re not sure about your industry, you can contact 5 Star Processing to learn more about high-risk merchant accounts.
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Last Update : Apr 08, 2021 9:26 AM
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