High risk merchant account domestic and offshore in 2019. This is a popular topic as more countries open up to new services. High-risk merchant accounts are a group of finance services that allow firms to accept card payments from clients. Credit card processors assign merchants to one of two categories: high risk or low (normal) risk, based on a number of factors. High-risk merchants face limited choices in processors, plus raised fees and stricter contracts. Being considered as high-risk looks bad. But in some cases, it can be your best option. We have been talking about various properties of the high-risk merchant account industry for many years and have almost sure reached on most, if not all, of the most decisive issues. Here are some more tips on best high risk merchant account.
High risk credit card processor : Soar Payments provides excellent customer service along with a good selection of pre-planned service packages. The company strives to be transparent in its costs, providing simplified, “no-haggle” pricing.
A lot of financial service providers do business only with with low-risk businesses, who they consider as a safer investment. That means businesses considered high-risk will have a very small selection of potential payment services to choose from. Any processor you approach will take a careful, detailed look at your business to determine if you fall under their definition of “high risk,” based on the financial risk your company represents. It’s virtually impossible for online shopping merchants to operate without having enabled as payment type the credit or debit cards. Before you can take “plastic,” you need a payment processor who acts as a link between you, banks, and credit card networks. Read extra info on List of high risk merchant processors.
Instabill was one of the better high risk merchant account providers we came across in our search. Their customer support agents were very clear and forthcoming with information. One thing to note is that Instabill is not cheap. For example, a Tech Support business would need to pay 4.95% + 0.25 plus the interchange fee for every transaction. That is significantly more than what non-high risk merchants charge, and even slightly higher than other companies on this list. However, this is unavoidable in high-risk industries. The reason we were pleased with Instabill’s offer was due to how easy it was to get pricing information in the first place – something that can’t be said for a lot of their competitors. Instabill does not post any of their prices online, since the cost will be highly dependent on the industry and bank involved in setting up the merchant account. However, you can get a quote by speaking with a sales representative and obtain a quote very quickly.
We used all of the high risk credit card processors, to be able to compare and a solid choice is iPayTotal. They cover all business types, have a vast experience in the business, fast customer support and low fees.
iPayTotal can help you in understanding and create your high-risk merchant account and guide you through the underwriting procedure followed by the bank while onboarding an application. Regardless of whether you require a start-up merchant solution, a subscription account, a pharmacy merchant account, a travel merchant account or set up an offshore merchant account, iPayTotal can help you set up with lowest rates and no hassles for your high-risk businesses. Source: https://ipaytotal.com/ipaytotal-high-risk-merchant-account/.
