Starting Up a High Risk Merchant Account

iPayTotal specializes in both on the web merchant accounts and internet-based gaming payment gateways and offers the best gaming merchant account on the market. iPayTotal’s group of experts in internet gambling payment processors always work with with providers to be sure you can acquire the best for your business needs.Via dedicated gaming acquiring partners, we provide 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 still have been made to deliver value and growth on your business.

Merchant card account is really a contract from your business plus a bank or even a standard bank. This contract means that the lending company accepts payments for your goods and services for the business. These Merchant acquiring banks ensures that a merchant or company can accept payment from international customers for the goods and services they deliver. Thus merchant services form a vital part of any E-commerce business.

There’s two types of a merchant account. First is the normal account, where the merchant can directly get the card and be sure that it is legitimate customer, thereby the risk involved is minimal. The next sort of merchant card account demands the accounts where it is not very easy to visually testify the buyer. These kinds of accounts include porn merchants, online tobacco merchants, replica merchants, gambling online merchants, pre-paid calling merchants, VOIP merchants, multi level marketing merchants, or any transaction that can take place with all the customer physically not present. Thereby, the potential for fraud activity is significantly greater using this type of business which results in classifying these kinds of accounts as “high risk” ones. Naturally, higher than normal risk merchant credit card accounts present the potential risk of the dreaded charge backs for your banks in question. It’s been proved by various researches the dangerous processing transactions tend to be more susceptible to fraudulent transactions.

These factors considerably decrease the amount of banks ready to undertake these high risk processing accounts. These adversely impact the applying company in making payment processing accounts. They generally come across a situation in which the banks generally decline their application, or impose high restrictions about the account transactions which virtually helps it be impossible to conduct normal business. Even when a merchant has built a payment processing account having a bank, they can don’t be sure that the partnership with the bank is protected. The lender might revise their underwriting criteria anytime, and suddenly merchants are facing an issue in which the payment processes adversely affect their business.

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