| Is your business considered high risk? And can you | | | | lowest rate available |
| still get a merchant account? | | | | - All rates should be disclosed prior to contract with |
| In credit card processing, there are many different | | | | the high risk credit card processing company |
| reasons why a business may be considered high risk. | | | | 3 Insider Tips To Ensure Approval for a High Risk |
| - First, it may be the actual business industry that has | | | | Business Merchant Account: |
| been tagged "high risk", such as travel, multi-level | | | | - Do you have a poor credit rating? Be honest about |
| marketing (MLM), e-commerce, aggregators or | | | | disclosing any past financial challenges. Acknowledging |
| collection agencies. | | | | previous liens, bankruptcies, judgments, etc. will only |
| - Second, the reason may simply be the business | | | | improve your credibility and alleviate one more barrier. |
| volume that places a business in the high risk | | | | - Be open to offshore options as sometimes they |
| category. | | | | can offer your business the best merchant account |
| - And third, it may be a reflection of the business or | | | | solution. |
| the business owner's credit history. | | | | - Shop around for a credit card processor that has |
| The question still arises: Can High Risk Merchants | | | | expert knowledge in high risk merchant account |
| Obtain a Merchant Account? | | | | approval - and don't be afraid to ask questions. The |
| The answer is YES. But you have to know where to | | | | more you educate yourself in the process, the more |
| go for the expert advice and guidance needed so | | | | you will recognize a good high risk merchant account |
| you and your business are safe from excessive | | | | processor giving you intelligent, experienced answers |
| expenses often associated with high risk merchant | | | | to your questions. |
| accounts. | | | | Operating a high-risk business does not exclude you |
| Working with an expert in high risk merchant | | | | from being able to process credit cards. Like any |
| accounts is critical to the success of obtaining the | | | | business, you want to provide your customers with |
| best merchant account solution for your business. | | | | as many non-cash payment options as possible. It is |
| 5 Points to Consider When Selecting the Best | | | | statistically proven that accepting credit cards help |
| Merchant Account for Your High Risk Business: | | | | generate revenues and stimulate impulse purchases. |
| - Your application needs to be handled by a high risk | | | | Owning a high risk business doesn't mean you won't |
| professional expert | | | | be able to open a merchant account. It does mean, |
| - Your high risk merchant account processor should | | | | however, that you may have to do a little more in |
| have experience with merchants in your business | | | | setting one up that is right for your business. Do your |
| industry | | | | "due diligence", shop around and ask questions to find |
| - The high risk merchant account processor needs to | | | | a credit card processing company that specializes in |
| have access to numerous credit sources - including | | | | high risk and offshore merchant accounts and will |
| more liberal banks and offshore options | | | | offer their expertise to businesses who fall into the |
| - If your business does have to be taken offshore, | | | | high risk category. |
| your high risk experts need to work on getting the | | | | |