Question by pdrpoet: what merchant account companies accept supplement companies
can anyone recommend a merchant account company that will allow us to sell supplements online with a Money Back Guarantee?
We have applied and been denied by numerous companies already and need to get this done.
Best answer:
Answer by stymiee73
You need to use an offshore merchant account provider because the risk is too high for typical US based merchant account providers. A name I see repeatedly recommended for high risk products is CCBill.
What do you think? Answer below!
Question by Joaquin M: Is it better to use Paypal or get a 3rd party free merchant account if I have a high risk business?
I have a growing high risk business. Do I keep on using Paypal or get a merchant account as my biz grows? Is it safer to opt for a 3rd party high risk merchant account provider?
Best answer:
Answer by Joe C
Although I have used PayPal, I’ve heard a lot of unfavorable things about them.
Add your own answer in the comments!
Woodside's Buyback Deal With Shell at Risk of Being Blocked
Some of the Shell executives involved, including for example, Tim Hannagan, still hold high positions inside Shell – in his case, Global Brand and Visual Identity Manager. If Shell does not accept that this is a true, provable account of what happened …
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Fixed income and event driven Americas winners announced
The firm was founded in 2005 by Wartell and Jeffrey Bersh. The pair met in 1993 when they were both junior high yield analysts with adjacent desks at Merrill Lynch. Wartell moved on to the proprietary trading desk at Merrill and in 1999 joined Deutsche …
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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 …
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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 …
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How Conservative Media's Conspiracy Targeted An Anti-Fraud Program
Based on the suspicion that some banks — acting with knowledge or willful blindness — conducted business with fraudulent merchants or those merchants' third-party payment processors, an assistant United States attorney drafted a proposal to …
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Is the government choking off financial services for businesses it doesn't like?
… Choke Point as the reason why their banks canceled their accounts. Paranoid? Maybe not. Both industries were on a list of 30 industries associated with a high risk of fraudulent activity issued by the Federal Deposit Insurance Corp. in 2011 …
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An Overview of American Express And Our Price Estimate
Acquiring Bank of the Merchant – processes the credit card transaction for the merchant. Interchange Rate – paid to the issuing bank for lending credit and undertaking the associated risk. Network Services Provider Fees – to compensate for the costs …
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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.
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Employment Roundup: 61 new jobs created in the Geoscience industry in last year
With 75 employees in place already in Dublin, the company is actively hiring across all functions including sales, account management, business development, finance and engineering to support customers in a number of languages throughout the EMEA …
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CNN's GUT CHECK for June 23, 2014
"Don't hold it that I have no savings account."– Kevin Liptak. AND ON … The phenomenon may support claims that the Obama Administration's lax stance on immigration is encouraging thousands of children to put their lives at risk. – Breitbart's Kristen …
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India Energy Profile: Economic Growth Fuels Increased Need For Energy …
Risks to economic growth in India include high debt levels, infrastructure deficiencies, delays in structural reforms, and political polarization between the country's two largest political parties, the Indian National Congress and the Bharatiya Janata …
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'City Is Still in Distress': Detroit Bankruptcy Trial Opens
On June 17 of this year, at just before midnight, the Budi Mesra Dua was overcome by a high-speed wooden boat as she steamed slowly with a cargo of diesel oil, according to an account from ReCAAP. Six pirates armed with swords tied down the crew of the …
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Ready for Battle
Risks impacting retailers' information technology systems and data breaches “are at an all-time high,” according to the 2014 BDO Retail Risk Factor Report. Since 2009, the number of retailers citing concerns over data security has more than doubled …
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Question by GeorgeK: Who are good online merchant account providers?
I am planning to start an online business (e-commerce) and I need to accept credit cards online. it is really hard to get a merchant account from banks as they have many requirements. Not good for start-up businesses like mine.
Can you please suggest a good online merchant account provider for an online business?
Best answer:
Answer by psincere
Look at this site http://5linx.redvmerchantservices.com/?repID=L408429
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Justice Department probes banks for fraud
Critics say the heightened scrutiny and threat of prosecution will lead banks and payment processors to stop doing business with any merchant considered to be high-risk. And without those financial services, law-abiding companies, not just a few bad …
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Ten Things Never To Do When Designing A Fraud Solution
3-D Secure, a protocol designed to help online merchants reduce the incidences of fraud online was designed to do just that. But 3-D Secure has often been criticized for … 6. Score + Rules = Winning Strategy. A sophisticated scoring system along with …
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Mobile-Enabled Commerce Will Yield The Next 0B Startup
Companies in the Mobile Payments and Retail Enablement categories like Square and RetailMeNot capitalized early on the transition to mobile by building new businesses or reinventing old businesses to take advantage of growing merchant and consumer …
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