Spokane, WASHINGTON – June 29, 2015 – What most high risk merchants don’t know is that they’re not considered high risk because of them personally. It’s normally because their business type has had a higher level than normal level of complaints.
Many national consumer protection agencies, the BBB, FTC or States Attorney General’s track consumer complaints on products sold. The card brands such as Visa and MasterCard also keep track of complaints and refund rates for every business type which payment processors keep track of.
In the past, high risk merchant services obtained a high risk merchant account offshore or used third party credit card processors but this isn’t necessary anymore.
With proper diligence and underwriting most of the high risk merchant accounts below can now be approved by some high risk merchant service processors:
- Adult products and content- DVDs/toys, video downloads, photo galleries, memberships etc.
- Amusement & Recreation Services
- Non-Franchised Auto Rental
- Bad credit merchant accounts
- Bail Bondsmen
- Buying / Shopping Clubs / Wholesale Clubs
- Calling/Pre-Paid Phone cards
- Cellular Phones Stores
- Check Cashing / Cash Advance Services
- Coin Dealers Shops
- Debt Collection Agencies
- Computer Stores
- Credit Repair with a US account
- Credit Interest Rate Reduction
- Custom Products That Take Over 90 Days to Deliver
- Online Dating Sites
- Detective Services
- Door-to-Door High Pressure Sales
- Downloading of Software / PDF Files
- eBook or Software downloads
- Meat Provisions, Freezer, Lockers
- Annual Magazine Sellers
- Lottery Tickets Online
- Annual Billing
- MLM / Network Marketing Without Products
- Mortgage Services / Securities Sales
- Multi-level Marketing Biz-Ops
- Online Pharmacy Merchants
- Outbound Telemarketing / Auto Dialers
- Pawn Shops
- Penny Auction Sites
- Payday Lenders / Title Loans
- Prepaid Debit Cards
- Seminars, Educational BizOps
- Sports Card / Collectable Dealers
- Sports Forecasting / Consulting
- Telecommunications Equipment Sales and VOIP services
- Telemarketing to Consumers
- Tickets Sales
- Timeshare Sales
- Travel Vouchers
- Used Auto/Car Dealers With Large Upfront Deposits
- Water Purifier Sales
- Sole Proprietorship Maintenance & Repair Operations
- Weight Loss Centers
- Collection Agencies
- Debt Counselors
- Pay Per Minute Billing
- Electronic Cigarette / Vape Sellers
- Electronics–high tickets etc. for B2B and home-based drop-shipping electronics are acceptable.
- Escort Services / Massage Parlors
- Financial consulting (tax advice or investing sites– monthly Stock/commodities monthly tips/tools, real-estate seminars, direct mail programs etc.)
- FFL Dealers (Federal Firearm License Required)
- Personal Online Gun Sellers
- Hair Restoration Services
- Herbal Supplement & Nutraceuticals
- High Tickets & High Volume–Jewelry, Seminars, etc
- High Volume Accounts and High Ticket Merchants
- Home Repair Contractors
- Home / Apartment Operated Business
- Horoscope / Fortune Tellers
- Infomercials
- Insurance Products
- Travel Agents
- Merchants with High Returns
- Internet / Custom Jewelry Sales
- Vacation Rentals
- Internet Pharmaceuticals / Online Vitamin Sellers
- Investment Opportunities
- Business Opportunities
Even with proper diligence and underwriting most of the high risk merchant accounts above can be approved but there is a big difference between retail swipe merchants and merchants who sell online or over the phone or through the mail. The credit card processing company will do their underwriting based on what you sell, how you sell, and how much you sell, so be prepared to answer all these questions upfront.
Finally, the FTC and States Attorney General’s have been going after some of the high risk merchant account and web credit card processing types above (with good reason) so be prepared to answer questions about your suppliers, refund policies and your past credit card processing history. If you’re completely honest and above board your chances of obtaining a high risk merchant account will be much higher!
If you would like more information about high risk credit card processing topics please contact us at 1-800-459-0625
Media ContactCompany Name: High Risk Merchant Services
Contact Person: Jim Duncan
Email:Send Email
Phone: 800-459-0625
Country: United States
Website: http://highriskcreditcardprocessing.com
