Tag Archives:Merchant
High Risk & Low Risk Merchat Services

Lastest High Risk Merchant Account News

Guardian Data Systems Named Second Best High Risk Processing Agency by
The independent authority on merchant services, topcreditcardprocessors.com, has named Guardian Data Systems the 2nd best high risk processing service for May 2014. Guardian Data Systems was selected due to their effective performance in the …
Read more on PR Web (press release)

Porn Proceeds too Hot to Handle for Banks
In addition to possible reputational risk, these businesses are at high risk for chargebacks, explained Stephen Brudner, managing director of Merchant Services Consulting Group, a company offering payment-processing for high-risk businesses, including …
Read more on Wall Street Journal (blog)

Is Obama Really Forcing Banks to Close Porn Stars' Accounts? No, Says Chase
Last month, porn star Teagan Presley told Vice that JPMorgan Chase & Co. closed her account because the bank considered her "high-risk." Then, on Wednesday, porn director David Lord told the Daily Beast that Chase sent him a letter notifying him that …
Read more on Mother Jones

Lastest High Risk Merchant Account News

Foreigners continue buying local government debt despite risks
Last month foreign investors, who account for nearly 40% of the domestic market, bought R8.7bn of local bonds following May's purchases of R7bn, Barclays Africa South African strategist Michael Keenan said on Friday. Investors were taking advantage of …
Read more on BDlive

Bank Mutual Corporation Reports 35% Increase In Net Income For The Second
This improvement resulted in a decline in the portion of Bank Mutual's allowance for loan loss that is determined primarily by internal risk ratings and the level of loans within each rating. General economic, employment, and real … Deposit-related …
Read more on MarketWatch

ProPay® Launches TSYS Guardian CyberShieldSM in Partnership with
“While many businesses are challenged with determining whether or not an online transaction, account login or other activity is fraudulent, The Network provides TSYS Guardian CyberShield the capability to identify high-risk transactions in real time …
Read more on MarketWatch

What is the best alternative for a high risk merchant account’s personal guarantee?

Question by Jake G: What is the best alternative for a high risk merchant account’s personal guarantee?

Best answer:

Answer by Marie C
There are several alternatives but confidence from your high risk merchant account provider usually comes from your ability to be able to pay them once you owe them money. The letter of credit acts as guarantee that you will be able to pay your provider in the form of loan from your own bank. The letter of credit will only be used only under the conditions written in it.

What do you think? Answer below!

Lastest High Risk Merchant Account News

American Express Company (NYSE:AXP): Profits Grow, Revenues Slow
With its own credit-extending bank and a proprietary card network, American Express gets to profit from both merchant services as well as from cardholders paying interest. With its premium fee-paying customers, American Express is better placed than …
Read more on BasicsMedia

^$ ! New oregon payday loan laws. 2 Minute App No Credit Check! Love. Winning.
While there are numerous lenders who specialize in this type of funding, professional property investors that rely on investment as their sole source of income are also new oregon payday loan laws high risk as new oregon payday loan laws become …
Read more on The Grandstand Gazette (blog)

:{[ Cash advance nowra. No Fax, Quick decision! Strong. Clear-cut.
Legitimate and licensed loan companies are not allowed to levy higher fees on unemployment high risk loans for California than regulated, you may cancel your order in accordance with your rights under the Distance Selling Regulations (see the Returns …
Read more on The Grandstand Gazette (blog)

Lastest High Risk Merchant Account News

Highrisk industries can now accept online credit card payments and secure a
UltimateMerchantProviders.com have a newly launched service that aims to help businesses that operate within so called 'high-risk' industries secure merchant accounts more easily in order to enable them to accept debit and credit card payments as well …
Read more on PR Web (press release)

Marijuana Merchants Denied Bank Accounts
Ryan Kunkel is a legal marijuana merchant and owns several dispensaries in the Seattle area. But because banks are worried about the implications of being in professional cahoots with "drug dealers," many—incuding state-chartered ones—are denying …
Read more on Neon Tommy

100BestMerchantAccounts.com Names Top 3 Merchant Account Providers for
A few things to consider when reviewing merchant account services: setup fees, processing rates, and other account service fees. Some merchants specialize in international merchant accounts, high-risk merchants, small business services, or other …
Read more on PR Web (press release)

e-commerce merchant account shopping cart question?

Question by lindsay g: e-commerce merchant account shopping cart question?
If i set up a merchant account, will I get software to put a shopping cart in my site? i built my site with dreamweaver, and they have a shoppingcart, and i use hostmonster.com for a host and THEY have a shopping cart/merchant account package… but i also have a friend that sells merchant accounts.. what should i do>???

Best answer:

Answer by drachma
This is a complicated question —
It depends on the merchant account package.
Sometimes the merchant account gives you access to eCommerce packages i.e. Miva Merchant or open source osCommerce. You get full functionality but will not have the ability to customize it fully – but some you might.

Some times merchant accounts only provide SSL and ability to install shopping carts easier…through 1 click button as opposed to your own installation.

My advice is get to know eCommerce packages if you’re going that route. Any web host can add SSL and you yourself can install packages like Miva/osCommerce/XCart/ZenCart etc…

Get a Merchant account only if they take care of software installs, upgrades, etc. Or better – go with an e cart solution like goecart.com for example.

Hope that helps.

Know better? Leave your own answer in the comments!

Credit Card Merchant Accounts?

Question by DMG: Credit Card Merchant Accounts?
I recently submitted an application for a business credit card merchant account. It is an existing business with an existing merchant account with another company. This new provider wants me to give them my social security number even though the company has its own EIN/tax ID. Why would they want my social? Does this open me up to financial liabilities of the company? I know if they hard pull my credit information, this has a negative impact on my personal credit rating. The other option is to jump through hoops of sending several years tax returns and months of bank statements. What is the best course of action?
We have been in business for almost 7 years so it is not from lack of history.
This is not for a business credit card, it is for a merchant account to process credit cards.

Best answer:

Answer by RIP LUCY
Just give them your social. Sounds like they will approve your application, based upon your credit. One inquiry isn’t that harmfull and this way is way easier.

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Looking for a high risk payment processor (merchant account)?

Question by wicked_redhead3: Looking for a high risk payment processor (merchant account)?
I’m going to try and ask this question one last time. I am looking for a payment processor for a adult dating site. I have searched for weeks for one in the US and so far none that accept this type of business so I am now looking for payment processing companies in other countries. Please do not respond is you are doing a quick search and post a few names that show up. I have already done that. I am wanting to hear from people that use a company and can suggest a company that they use or have used with having no problems with them.

Best answer:

Answer by Robert
The only one that I know of is charge.com I have been recently looking for a high risk merchant payment gateway as well (though not for adult related industry) and aside from some offshore places, they were the only one that would take me on. I ended up forming another company that has absolutly nothing to do with my business and getting a merchant account for that company. Since my original company owns 51% of the new company, it is legal for me to use it to pull my payments.

Hope this helps.

What do you think? Answer below!

How do high risk merchant account providers assess the cost of setting up an individual merchant account?

Question by Dan: How do high risk merchant account providers assess the cost of setting up an individual merchant account?

Best answer:

Answer by Marie C
Many high risk merchant account providers will assess your costs depending on your business profile, owner’s personal credit, time in business, average ticket charge, monthly processing volume, business solvency, past processing history, and other lesser but important factors.

Know better? Leave your own answer in the comments!

What is a high risk merchant account?

high risk merchant account
by lisby1

Question by : What is a high risk merchant account?

Best answer:

Answer by stymiee
Some businesses by their very nature have higher then normal chargeback rates. Sometimes this is due to the product or service offered by the merchant being in high demand but also being high priced (e.g. high end electronic, jewelry, etc.). Sometimes it is because the service causes customers to be misled whether intentionally or not (e.g. multi-level marketing schemes). Regardless of the root cause these businesses will usually find it difficult, if not impossible, to establish a merchant account.

The businesses considered to be high risk will vary from merchant account provider to provider. However, there are some businesses and industries that are consistently considered high risk. This list includes:

* Adult Book Stores
* Adult Entertainment
* Adult Novelties
* Adult Video Stores
* Advanced Sales
* Check Cashing Services
* Child Pornography
* Collection Agencies
* Credit Repair Services
* Dating/Escort
* Diet Marketers/Programs
* Exotic Dancing Establishments
* Multi-level Marketing
* Pharmacies (Card Not Present/Internet)
* Pornography
* Sexual Encounter Firms
* Telemarketing
* Time Share
* Travel Clubs/Tours/Guides
* Vacation Packages

For these businesses to accept credit cards they typically have to turn to high risk merchant account providers. These companies are typically off shore and always charge higher rates then traditional merchant account providers. Rates can go as high as 20% of sales and some may charge set up fees of $ 1,000 or higher. The reason why these rates and fees are so high is the high risk merchant account provider needs to make sure they make enough money to cover the costs of the high number of chargebacks they will receive.

Add your own answer in the comments!