High-Risk Merchant Account Is So Special For Businesses

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Bespoke Payment Solution For High Risk Merchants
Skype epay.global
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How Do High-Risk Merchant Accounts Surround
Businesses With a Flourishing Atmosphere?
A high-risk merchant account is a one-stop
solution for merchants in many aspects, and it is
the first and the foremost platform for survival.
All high-risk industries need merchant accounts
to operate business smoothly. IPTV merchants,
online casinos, iGaming, Forex traders, and
eCommerce websites all need a place to get paid
for a high-risk business. The constant
contradiction with legal formalities makes it
more important for the merchants to depend on
this business account. All merchants, whether
they have a merchant account or are looking for
one, have doubts about it. Some light on the
varied aspects of this commercial account can
help many out there to find the right deal and
grow the business properly.
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What Risk Factors Make a Business Depend On a
High-Risk Merchant Account?

• Several factors have their role in making a
  business high-risk. In different companies, you
  can find varied risk factors. Following are those
  factors that make a business take a high-risk
  merchant account.
• Long delivery time is a considerable factor in a
  business that can make it high risk. If the
  duration between the order of a product and its
  delivery is too long, it makes a business risky.
  During this duration, anything may go wrong. The
  product may get destroyed or deformed, and the
  buyer may change their mind and can cancel the
  order in the middle of its delivery.
• A disgraceful history of chargebacks is also a
  potential factor to tag a commercial entity as
  risky. Usually, e-commerce and adult
  entertainment merchants are pretty prone to
  chargebacks. Customers demand money back due to
  dissatisfaction with the product in terms of
  quality, color, quantity, etc. A higher number of
  chargebacks may make a merchant account provider
  close the account of a business. Also, such
  merchants may find it challenging to get a
  high-risk merchant account with instant approval.
• Industry reputation is also a significant factor
  that puts a business under several potential
  threats. Can you ever find a person discussing
  adult products with their kids or family members
  in an amusement park? It is absolutely impossible
  because the adult entertainment industry and its
  services are not the subjects people discuss
  socially. Such businesses are always under the
  notice of legal institutions, and one small
  mistake may close them down, which is a
  considerable risk for the acquiring banks.
• Frequent refunds spoil the goodwill of a business
  and show that a merchant is not doing good in
  business. It makes an acquirer and international
  high-risk payment gateway think that maybe the
  company is following a wrong practice, which is
  why it has to refund the customers money in a
  recurring manner.
• High volume transactions leave commercial
  entities under threats created due to hackers.
  Some businesses process millions and billions
  daily, and hackers want to steal the identity to
  make fake transactions. As we all know, the daily
  high-volume transaction is a significant identity
  of high-risk merchants.
• Automated billing, usually considered a good
  thing for a business to receive timely payments,
  can sometimes prove a threat. The customer may
  forget that he has signed up for a product or
  service and may ask for a chargeback. It happens
  with many businesses, and the winner is always
  the customer because when he raises a chargeback
  demand, the credit card company always favors the
  cardholder.

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Major Credit Card Frauds And Their Prevention
Tactics Available For Merchant Account Holders
We all know that high-risk merchant accounts are
always prone to credit card fraud issues, and
merchants are afraid of fraudsters. However,
thankfully, today, we have intelligent tactics
that can handle the threats and ensure safer
business operations for a business. Let us first
discuss the common credit card threats. Merchant
account holders sometimes face several credit
card fraud issues that may affect their business
goodwill and stability. Credit Card Frauds
Phishing is a common way to commit credit card
threats using malware or computer viruses. It has
been in existence since the 1980s, and today it
is used to steal bank account numbers and
passwords. Fraudulent websites are also a cause
of worry for high-risk merchant account holders.
A fraud website looks similar to the original
website however, it usually does not have the
companys postal address. Even if the address is
mentioned, the users should first confirm
it. Vacation fraud can sound rare, but it is
widespread. When people visit a hotel during
vacations, messages asking for their credit card
details from the hotels front desk can be fake.
The customers who gamble at casinos may receive
notifications about the new online casino game
offers. The merchant account and Fraud through
pre-populated details is another complication the
merchants may face as high-risk merchant account
holders. Many users save their information on the
website to pay quickly next time while making a
purchase conveniently. They use the feature of
autofill, which is quite helpful but only if a
business has robust security measures.
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Tactics to Prevent Credit Card Fraud
Anti-credit card fraud tactics always help
merchants run their business smoothly without
fear of fraudsters and survive with confidence in
the market. This confidence comes with the safety
shield of high-risk merchant accounts. 3D secure
transactions create a safety shield around the
daily transactions. According to the regulations
of PCI-DSS, high-risk merchants have to be
compliant with the PCI-DSS level. Verification of
orders with incomplete details is another way to
ensure whether an order is authentic or not.
Vague name, absence of a name, and phone number
are some of the factors that indicate that a
credit card transaction is doubtful. Keep track
of the patterns used in fraudulent orders, as it
helps spot any suspicious orders in the future.
Sometimes a particular person or group submits
orders repeatedly. The timely reports generated
by your payment gateway about transactions can
quickly reveal such transactions. If customers
pay through the mobile application, scan and
scrutinize biometric data or selfie pictures.
These details are always available when the user
sets up an account. Such information is essential
and can be used to track fraud people. The above
tactics apply to all account holders. Whether you
have a high-risk merchant account in the UK, the
United States, or anywhere in Europe. Another
important tactic is that a merchant should keep
an eye on the latest scams to know how the trick
minds out there are working. Accordingly, new
ways of prevention can be invested.
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List of High-Risk Industries

• Some industries are prone to risks and always
  stay in the category of high-risk industries. Let
  us have a look at them
• IPTV
• Forex Trading
• E-commerce
• Pharmacy
• Adult dating
• iGaming
• Online gambling
• Financial services
• Telemarketing etc.
• It is essential to mention that varied countries
  may have various lists of high-risk industries.
  If you are a merchant and need a high-risk
  merchant account, your acquirer or payment
  gateway will always help you make the right
  choice.

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Conclusion
High-risk merchant accounts are the saviors as
well as supporters of high-risk businesses. They
handle multiple threats for the merchants and
give them a predictable atmosphere to flourish.
The most important thing for a business is to
receive timely and convenient payments from the
customers. Without a merchant account, it is not
possible. In fact, without it, the network of
payment gateway, merchant,Credit Card Processors,
and merchant accounts can never be complete. It
is not an exaggeration to say that the high-risk
merchant account is the last and the most
essential destination for payment processing.
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Company Address

• 17 King Edwards Road Ruislip, Level 2 College
  House,
• London, United Kingdom, HA4 7AE
• Contact Us - INFO_at_ESKAYPAY.COM

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