Starting a High Risk Merchant Account

iPayTotal concentrates on both on the web merchant credit card accounts and internet-based gaming payment gateways and will be offering the most effective gaming merchant card account on the market. iPayTotal’s team of experts in internet gambling payment processors cooperate with providers to ensure that you can get the perfect for your business needs.Via dedicated gaming acquiring partners, we offer you all you need to accept gaming card payments and fork out winnings easily and securely. Our feature rich dedicated gaming solutions are fully flexible and also have been developed to deliver value and growth to your business.

Credit card merchant account is a contract from your business plus a bank or possibly a standard bank. This contract makes sure that the financial institution accepts payments for the goods and services on the part of the business. These Merchant acquiring banks helps to ensure that a merchant or company can accept payment from international customers for that products they deliver. Thus merchant services form a vital part of the E-commerce business.

There are two types of merchant credit card accounts. First will be the normal account, in which the merchant can directly connect to the card and be sure that it’s a legitimate customer, thereby the risk involved is minimal. The other form of processing account requires the accounts where it is not easy to visually testify the client. These types of accounts include porn merchants, online tobacco merchants, replica merchants, internet gambling merchants, pre-paid calling merchants, VOIP merchants, network marketing merchants, or any transaction that takes place with all the customer physically not present. Thereby, the potential for fraud activity is significantly greater perform properly business which results in classifying these kind of accounts as “high risk” ones. Naturally, elevated risk merchant credit card accounts present potential risk of the dreaded charge backs for that banks involved. It is often proved by various researches these high risk processing transactions tend to be prone to fraudulent transactions.

These factors considerably slow up the quantity of banks prepared to undertake these high risk processing accounts. These adversely impact the applying company in configuring payment processing accounts. They often discover a situation where the banks generally decline their application, or impose high restrictions for the account transactions which virtually causes it to be impossible to conduct normal business. Even when a merchant has built a payment processing account with a bank, they can don’t be certain that the partnership using the bank is safe. The financial institution might revise their underwriting criteria anytime, and suddenly merchants are facing a situation in which the payment processes adversely affect their business.

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