Chargeback Managemenrt (High Risk Merchant Account)

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High Risk Merchant Account
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What is High Risk Merchant Account?

• Entrepreneurs enter into the market with new
  business ideas. When everything is established
  and they go to the payment gateways/ Banks to get
  the payment gateway, they dont get the approvals
  from the risk departments considering the
  business to be high risk business.High risk
  businesses are often declined by the payment
  processors and acquiring banks and it became
  difficult to get the fair payment processing
  account.

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OBTAINING HIGH RISK MERCHANT ACCOUNT

• If you are not getting the merchant account,
  dont worry. There are providers who are
  specialized in providing gateways to the high
  risk account. It may be a little more expansive,
  you may need to agree to a high rolling reserve
  or you may need to send more documents during the
  onboarding process but youll be able to get the
  payment gateway. First of all you need to find
  who is able to cooperate with you. We at Merchant
  Stronghold love to cooperate with merchants that
  has high risk business category.

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Dos and Donts

• Read your contract carefully Most processors
  will make you sign the merchant processing
  agreement. Read the entire contract carefully.
  Pay attention to fee, terminations, restrictions
  and all other things.
• Selecting the payment processor If you are a
  high risk merchant, it does not mean that you
  need to settle for less. Choose the PSP carefully
  who is ready to negotiate with you.
• Ensure that all the online transactions are
  protected by encrypted server transactions.
  Generally payment processors are backed by large
  security and technology companies to ensure all
  their accounts are safe and transactions are
  secure. Thats a good sign.
• Your processor should offer online viewing and
  reports, rather than traditionally mailed
  transaction reports. That way, you can keep track
  of your transactions and reports.