How Merchant Underwriting Affects your Business?

Representative Merchant Underwriting Process

The vital goal is to evaluate the business’s level of high risk for the provider. Why? Because a merchant account is fundamentally a line of credit. If a business is strike with a chargeback but doesn’t have enough funds in the bank to pay it, the provider fronts that expenditure right away.

Just before truthfully establish the High-Risk Business level, providers review the following:

INDUSTRY TYPE

Every business kind has its own level of risk. For example, a business that swipes cards is less likely to deception/fraud and chargebacks, and is, therefore, less dangerous, than a business that sells products on the web. The riskier the business, the more support documents and information required for review.

BUSINESS HISTORY AND POLICIES

This incorporates years in industry, billing, shipping and returns policies (if applicable). Organizations that ship products are riskier because the product might not be delivered, which can result in a chargeback.

MERCHANT HISTORY AND CARD ACCEPTANCE METHOD(S)

Providers will need to know things like your business’s chargeback ratio (over 1 percent is a red flag), whether your business is or has been on the Merchant Terminated File and, if so, why. Most providers evaluate current merchant statements to get an idea of processing volume and methods of acceptance. Businesses accepting tips or phone and online orders are there for more features and security measures if approval is there.

PROCESSING LIMITS REQUESTED

Providers will take these into consideration in conjunction with the above information. Providers should set your limits on a happy medium — they should accommodate your regular processing without giving too much room in the event of a large fraudulent charge. If your business doesn’t need very high limits, your account needs a different setup.

FINANCIAL STABILITY

This can include a look at the business’s bank statements, its financials and, usually, the owner’s credit. This is vital for high-risk businesses, as this information can make or break the merchant underwriting approval. Some providers inadequately review businesses, resulting in issues after they’ve started processing.

Ask Merchant Stronghold - How to Poor Merchant Underwriting After effects

• Incorrect Limits
• Hidden Volume Fees
• Downgrades

Some businesses opt for an account with Payment Facilitators, such as PayPal, Stripe or Square, which bypass merchant underwriting altogether. While they may seem like a better option, these alternatives have their own pitfalls.

Speak with a specialist about underwriting at 888-622-6875.

Excellent opportunity to get instant Merchant Account for Nutraceutical Industries

Instant Approval Merchant Account In Easy Steps For Nutraceutical Products

If you are included in Nutraceutical deals and your works is online and you’re facing the problem with the customers online payment transactions, we can help you, as you know that it can be hard to acquire merchant services for Nutra product sales. But then, without a merchant account, you will not be able to Accept Credit Card and debit card payments. This has left numerous organizers or business owners wondering what to do. With a specific end goal to exceed expectations in an online business, it’s vital to have the capacity to process domestic and international payments.

Ideas to sale Risky Nutra Products

The Nutra deals business is a big High-Risk Business but it is seen as considered high risk for a few reasons. One of them is that e-commerce sites that offer nutraceuticals generally get a higher number of chargebacks than different organizations. Chargebacks occur whenever a customer returns an item or they pay with a bad check or over-extended credit card. Though the merchants themselves are at risk, so is the merchant processing center that handles their transactions.

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In addition to these things, nutraceuticals typically are not FDA approved and frequently advertise “trial offers”. In this business model, customers are enrolled in a recurring billing cycle, often without realizing it. This leads to customers abruptly ending the business relationship with the company and canceling their subscription.

Instructions to Work with conventional Merchant Services Providers

Pay organization bills on time and keep financials in good order. Give clients great services and make returning items simple and convenient. Nutraceutical related merchants who give awesome items at reasonable costs can hope to remain in business and appreciate outstanding income. search for long-term solutions for your Nutra deals Merchant Account. Merchant services for Nutra sales should become more available to business owners. Presently, even today there are many good options if you’re willing to do some research.

Merchant Account Importance for Subscription and Membership

It can be a bit tricky for merchants starting up a membership site to do the very thing that makes the endeavor lucrative: collect membership fees from clients via a high-risk credit card processing account.

The most conventional economic institution is, by their extremely nature, mindful – both of monetary high risk and of danger to their reputation. If they have the concern that assured industry practices general in a certain business might verify “quality destructive,” they’re distant more inclined to cut free any merchant in that field than observe in depth whether an individual customer is occupied in cool business practices. The proprietor of several membership websites originates their merchant accounts immediately closed.

The purpose behind this was that MasterCard had released the new rule that put certain practices general to the membership site industry model under much greater inspection. Now, membership sites are regarded as High-Risk Business merchants whether they take part in these activities or in these exercises not. This makes it hard for an entrepreneur to discover an organization willing to acknowledge his application for a membership site Merchant Account in the first place and even harder to discover one that will offer him practical terms on his account.

Why subscription/Membership Sites are considering “High Risk”?

Before MasterCard’s compact rules were implemented (Visa has also issued similar guidelines), several membership sites used techniques that were extensively regarded as misleading, or even deceptive.

“Harmful decision” enrollment – in other words, the client makes a single payment for a product or service, but in doing so they are automatically signed up for a paid monthly subscription which they must actively cancel or opt out of to avoid being charged.

“Free trials” that aren’t free – the client or member is promised something for “free” (including “conceded charging” or “just pay to ship!”), but the process of obtaining the “free” thing or service results in them unknowingly being signed up for a paid membership or subscription.

Covering terms in the fine print – the Membership site makes the terms of its charges and refund policy approach hard to discover by concealing them amidst an extensive client assertion, or in modest content in some dark corner of the site.

If you get more information you can meet our representative and all doubt you can clear at the time. If you are facing merchant services and payment gateway related any problem, quick contact us, Merchant Stronghold will provide the best solution of you. 

High Risk Merchant Services for Travel Business

If you run a travel agency as the tour operator, or hotel operator planning to the same then you must be excited by the opportunities in High Risk.

Your online payment gateway basically makes it possible for your customer’s payment to reach the merchant bank’s processor. But if you are just starting, then getting a merchant account for business is the toughest job. Good financial credibility also not getting the merchant account for you. You may or may not be aware. But the real and only reason is that your business model falls under high risk. And banks and merchant gateway providers think that they have credit risk involved with the industry you are in. This is not because the salesperson does not want your business.

REASONS WHY YOUR BUSINESS IS HIGH RISK

Industry Language Normal Language 

• High ticket size  - Expensive travel 
• Charge-backs - Cancellations issue 
• Long Fulfillment time horizon - Refund issues 
• High Failure rates - Competitive business

Find consultants who specialize in the helping high-risk merchants finding a merchant account.

We at merchant stronghold provide you the same.

If you have a good record of risk, fraud, and charge-backs, you will be required to provide at least 6 months of prior financials to prove it.

The best side of this is that if you can provide financial statements for 3 years, you will have more leverage to negotiate a better deal.

Startups with a weak or non-existent record, you must accept a very well relationship.

A common mistake that everyone does is to find big banks and merchant account, providers.
If these processors receive any hint that you are high risk, there is a chance that the merchant account will get a termination.

Develop and put into action a strong fraud prevention plan. Introduce new tools that will help you detect and fight fraud.

Purchase a financial failure insurance plan to boost financial security.

These actions will be enough to get a merchant account for your tour and travel business. Just because of rejection for a merchant account before, doesn’t mean you will not get approval again.

When it comes to your business plan and financials, providing complete transparency is a great way to build trust.

Your business model matter, it will work to not only survive in the current market but also thrive.

Cyber Security tips to protect your Online Small Business

Broadband аnd information technology аrе powerful factors in small businesses reaching nеw markets аnd increasing productivity аnd efficiency. However, businesses nееd a cybersecurity strategy tо protect the thеir оwn high-risk business, thеir customers, аnd thеir data frоm growing cybersecurity threats.

Train employees in security principles:

Establish basic security practices аnd policies fоr employees, ѕuсh аѕ requiring strong passwords, аnd establish аррrорriаtе Internet uѕе guidelines thаt detail penalties fоr violating company cybersecurity policies. Also, rules оf behavior describing hоw tо handle аnd protect customer information аnd оthеr vital data.

Protect information, computers аnd networks frоm cyber-attacks:

Kеер clean machines: hаving thе latest security software, web browser, аnd operating system аrе thе bеѕt defenses аgаinѕt viruses, malware, аnd оthеr online threats. Set antivirus software tо run a scan аftеr еасh update. Install оthеr key software updates аѕ ѕооn аѕ thеу аrе available.

Provide firewall security fоr уоur Internet connection:

A firewall iѕ a set оf related programs thаt prevent outsiders frоm accessing data оn a private network. Make ѕurе thе operating system’s firewall iѕ enabled оr install free firewall software available online.

Create a mobile device action plan:

Mobile devices саn create significant security аnd management challenges, еѕресiаllу if thеу hold confidential information оr саn access thе corporate network. Require users tо password protect thеir devices, encrypt thеir data, аnd install security apps tо prevent criminals frоm stealing information whilе thе phone iѕ оn public networks. Bе ѕurе tо set reporting procedures fоr lost оr stolen equipment.

Make backup copies оf important business data аnd information:

Regularly backup thе data оn аll computers. Critical data includes word processing documents, electronic spreadsheets, databases, financial files, human resources files, аnd accounts receivable/payable files. Backup data automatically if possible, оr аt lеаѕt weekly аnd store thе copies еithеr offsite оr in thе cloud.

Control physical access tо уоur computers аnd create user accounts fоr еасh employee:

Prevent access оr uѕе оf business computers bу unauthorized individuals. Laptops саn bе раrtiсulаrlу easy targets fоr theft оr саn bе lost, ѕо lock thеm uр whеn unattended. Make ѕurе a separate user account iѕ created fоr еасh employee аnd require strong passwords. Administrative privileges ѕhоuld оnlу bе givеn tо trusted IT staff аnd key personnel.

• Secure уоur Wi-Fi networks
• Employ bеѕt practices оn payment cards
• Limit employee access tо data аnd information, limit authority tо install software
• Passwords аnd authentication

If you want more information Cyber Security related you can contact us - +1 (888) 622-6875.

Which category you fall in High Risk/Low Risk

High-risk merchant processing basically known as credit card processing is the handling of electronic transactions of the merchants. Merchant processing means getting sales information from the merchant, receiving authorization for the transaction, collecting funds from the issuing bank and sending payment to the merchants. Electronic payments are highly sensitive to fraud. Liability for misuse of card data can expose the merchant to significant financial loss.

High-Risk Merchant or Low Risk?

Before you look for the payment gateway, you need to know the risk associated with the business. Be prepared before you approach the banks and gateways else you will end up with denials.

Business life and financial stability, business model, billing method, products sold /services, and processing history play an integral part in deciding whether payment gateway will be provided or not.

Different banks and different payment gateway providers have different parameters, there are some general industries that come under high risk.

THESE INDUSTRIES ARE HIGH-RISK MERCHANT:

Industry -  Reason

Adult Industry- Because of regulations 

Financial Industry - Because of unpredictable nature 

Airlines - High chargebacks 

Online Gaming - Instability 

Law Firms - Survival Issue

There are dozens of others such as:-

Auctions, cigarette, brooking, coupons, Debt collections, Horoscope, Lotteries and Memberships, Real estate, Vacation planners, VOIP services, selling of vitamin and supplements and many more industries.

Apart from this if any business model is dealing with the card, not the present transaction that is also a High-risk merchant.

The riskiest transactions are the one that is done over the phone and Internet and if the transaction is of the high amount and the business is of a kind that tends to generate complaints.

That’s why an important part of applying for merchant services is revealing what kind of business you are. And if your business contains high risk, you will get multiple denials from the Banks and payment gateway providers.

For low-risk businesses, the fees are usually low. High-risk merchant accounts will not only have higher, but they will also include additional fees. Don’t be shattered, despite the risk involved we at Merchant Stronghold will assist you in getting the payment gateway. Get more information you can contact us directly - +1 (888) 622-6875.

Online Merchant Account Instant Approval for Dating Industry

Statistics show that Online Dating industry is changing perceptions and elements inside social norms regarding Online Dating and connections among adults. Consequently, online dating websites are developing ubiquity and also benefit in today’s world. The as a matter of first importance prerequisite for the task of your business is the requirement for a merchant account.

However, finding a merchant account for your business can be the difficult task as your business falls under a high-risk business category. As a result, It doesn’t matter which one you choose. If you get too many charge-backs your merchant account will be closed no matter what you do and you won’t be able to get a new merchant account.

Businesses that have high refunds and returns lead to charge-backs are considered high-risk businesses. The main issue is that Visa and MasterCard have such strict guidelines regarding the maximum number of charge-backs a merchant can have per month.

Exceeding these limitations puts merchant in a special monitoring program of the card company and the acquiring bank. Such “special” treatment leads to the penalties and ends up with a termination of the merchant account.

THE REASON YOUR BUSINESS FALLS UNDER A HIGH-RISK CATEGORY LIKE ONLINE DATING IS:

High Charge-backs: In the adult Online Dating industry there is a higher probability of charge-backs. Therefore, this is the most critical factor for conventional banks. Especially when they consider an application for such a high-risk business.

Most of acquiring banks, payment gateway providers deny giving merchant account to Online Dating business because merchant accounts that take too much charge-backs are a higher risk for them.

Stability: Online dating Industry has instability issues that makes it high risk. This industry has shown rapid growth in past few years but has the stability issues with it, as a result, this industry a high-risk industry.

Perception: Regardless of your website, how honest your business is this industry carries the risk of association with the escort services. Association with escorts can lead to cases against business and no business, merchant account provider wants unnecessary reputation risk to them.

So, when people pay for love but they don’t find out, they ask for their money back. With more than 2.1 billion in annual revenue. There is huge profit-making potential in this industry. But securing against some of the riskier aspects of the business is going to be crucial to securing a payment processing partner. With due process and research, you can find an adult merchant account for your adult dating website. 

Merchant account aforementioned benefits, the guarantee of honesty, accountability, and transparency. If you want to more help then call us at +1 (888) 622-6875 or email to info@merchantstronghold.com.

Online Merchant Account for Identity Restoration Business

Are you running an Identity Restoration Business? Few things should know for an online merchant account. You require a merchant account to accept credit card and debit card payments. Your merchant account works as a bridge between your bank account and the customer's bank. When you get a merchant account, you are required to take after standards and controls set up with the credit card companies and your bank. This incorporates the number of fees related to both the accounts.

Fees associated with a merchant account

Cancellation fee: It is charged when you send your contract with an online merchant account before the due date of your contract. Not all the providers require a contract, but those who have this police ask for the cancellation fee.

Chargeback fee:

When money is returned to the customer. This fee is initiated by the bank of your customer, often because of fraudulent transactions. Chargeback is one of the reasons why merchants around the globe lose thousands of dollars. It is a fee that merchant account providers take for processing the chargeback request.

Gateway Fee:

It is a monthly fee to keep your merchant account. This fee is the charge to maintain your online merchant account. Some online payment gateways don’t charge money, while others may charge as much as $20.

Monthly minimum:

This is the amount your account is required to process on monthly basis. The fee is charged to maintain the account, but if you don’t exceed the minimum, then merchant account providers will charge you accordingly.

Statement fee:

A statement fee is charged by all the online merchant account providers. This fee is associated with your statement and it is taken at the end of the billing cycle. You will pay between $7 and $10. It is charged when you get a paper base or paperless statement.

Transaction fee:

As the name suggests, it is a fee that is charged every time a transaction is processed. Usually, it is between 20 and 25 cents. This fee remains the same no matter how big the transaction was.

Merchant Stronghold understands that your Identity Restoration services require customized account so that you can run your business flexible.

Now Easily Get A High-Risk Merchant Account

High-risk Merchant Account

All kinds of financial institutions process money. And when it comes to processing money. They are followed by regulators to classify merchants as low risk, medium risk, and high-risk merchants. Payment processor will never accept you when they think you process high risk and there are chances that they will lose money. And even if they accept you they will charge very high transaction discount rate.

There are a few reasons why your business can be a high-risk business. Few reasons are:

• Questionable sales and marketing tactics
• You have lost your previous merchant account due to high chargeback ratio.
• Potential legal and financial liability
• An industry is known for excessive chargebacks or fraud incidents
• Your credit is really bad.
• Trial continuity business
• Also, you’ve been branded as the terminated merchant (TMF).
• Previous credit card processing is not good enough

OBTAINING HIGH-RISK MERCHANT ACCOUNT

If you are not getting the merchant account, don’t worry. There are providers who are specialized in providing gateways to the high-risk account. So, 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 you’ll be able to get the payment gateway. Therefore, you need to find who is able to cooperate with you. We at Merchant Stronghold love to cooperate with merchants that have a high-risk business category.

DOS AND DON’TS:

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.

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. That’s a good sign.

Selecting the payment processor: If you are a high-risk merchant, it does not mean that you need to settle for less. Hence, choose the PSP carefully who is ready to negotiate with you.

Your processor should offer online viewing and reports. instead traditionally mailed transaction reports. That way, you can keep track of your transactions and reports.

Why Important Merchant Account for your Credit Repair Business

Having a high-risk business or high-risk merchant account can be very demanding and challenging, to begin with. It might be very hard for you to process payments properly due to the high fees and other challenges. However, just because you have a high-risk business.

The idea of having a credit repair business is that many gateway providers will see this as a high risk. It isn’t really coming with the highest possible risk, but there are plenty of challenges to be had here and you should think about that the best way you can.

Should you get a high-risk merchant account despite the potential issues that might appear? Yes, because you can either do that or you can opt for an offshore merchant account. Either one works, the idea is to just find the best options that suit your needs and which delivers the utmost value for your money. You have to keep in mind that the main focus here is on finding a good payment processor and lowering the amount you have to pay in the end. It can be tricky to do that because all payment processing solution services out there will ask for a transaction amount, so you need to put things into perspective and see what works for you.

Granted, it can be a challenge to own a good credit repair business with online payments, but this is a very important portion of such a company, to begin with. You might not need a credit card terminal, but you do require a high-risk merchant account or even a regular merchant account. There are many providers that will be able to help you in this regard. You just need to stay fully committed and focused on results because that’s what matters the most in the end.

A Fact

You have to keep in mind the fact that setting up a merchant account with a credit repair business is very tricky, so you should oversee all potential expenses to begin with. That’s what really makes the experience worth it, the fact that you can perform and receive online payments without a problem. This is very important for any credit repair business, which is why opting for the best merchant payment processing solution is crucial to say the least.

Merchant Account Services for Debt Consulting Business

Why need a merchant account for your business?

There are plenty of reasons why you might need one. Not only does this help you generate more value for your money, but at the same time, the return investment is great. You basically get to integrate credit card processing and a credit card terminal into the entire experience to begin with. That’s what really manages to make the solution stand out. Having check processing or credit card processor options can really allow your business to generate more clients.

Plus, you have to think about the consumer convenience. This is very important for you and it will bring in front a very immersive and fun experience, to begin with. At the end of the day, the ability to explore offer consulting services to your customers is very important, but so is the ability to get paid online or via credit cards. For this, you need a good point of sale system and a dedicated merchant account that will be able to process all of these tasks as fast as possible.

Is it easy to do this on your own?

No, you just can’t manage and track all payments properly; it can be very confusing and challenging. On the other hand, you will see that having a merchant account can help bring you new clients and even generate return clients as well.

It’s very hard to find a good set of features that can help you deal with online payments. Thankfully, a merchant account will be able to help you do that as fast as possible. It will not be easy to do that at first, but in the end, that’s what makes the experience worth it. Plus, the fact that you will be able to offer great merchant services to your customers is also very important. This can really help bring in front a much more refined experience and you do want that to happen for sure.

So, you should definitely consider having a merchant account for your debt consulting business. It’s not easy to do that, true, but results will be very impressive, to say the least. Keep in mind that a merchant account and a good payment processing solution will broaden the payment arrays that you can offer to your customers. Do try and integrate the best payment processor solutions to your customers and results will be extraordinary all the time!

Set up Merchant Account easily with Merchant Stronghold

Setting up a merchant account is critical and for the most part, it isn't so much that difficult to do it either. What makes a merchant account great is the fact that it allows your organization to accept both credit and debit card payments. Ordinarily, you should have either an agreement with the bank that they procedure credit card payments or you can work with an independent sales organization, MSP et cetera. Either solution works as long as you collaborate with a dedicated financial institution and have a designated point of sale system.

The primary thing you need to do

Decide the manner in which credit card payments will work for your company. This implies you have to make sense of the kind of credit card payments that you need to accept and how you accept those payments. You have to check whether you accept website payments If you want to use a POS solution or mobile payments. You will also have to consider the amount that you get from credit card sales, to begin with.

Aside from that, when you create a new merchant account you will need to think about the merchant payment processing and you will also have to make a comparison between all the services offered to you. This way you will be able to see which one actually delivers the best value for your money, so you should consider that as fast as possible. Each merchant account provider has a flat rate that will be charged each time a payment is processed or it might have a percentage fee based on the total transaction amount.

Stay in Control

Sometimes you will see that merchant provider options will have software and payment acceptance solutions. Of course, if you do opt for these merchant services you still need to have something that allows you to be in control. It might be challenging at first, but results will end up paying off quite a bit which is exactly what you want to focus on here. Having control over the way your customers pay is very important to try to keep that in mind.

As you can see, setting up a merchant account isn’t that challenging, to begin with. It will take some time though, so try to keep that in mind and it will help you quite a bit which is exactly what you want to have!

US Merchant Account If you are Non-Resident of USA

Today, organizations are extending their range to the worldwide level that is helping them to develop at a much faster. This explanation of business has been observed due to the advent of technology. Technology also has help businesses to create a point of sale that can be accessed from anywhere in the world and customers can order online and pay through their cards.

In any case, one issue that business can face if they don't have experience of selling and sending products to different nations is their lack of physical presence in that country. As every one of the nations has their own laws and requirements for beginning a merchant account. In any case, in this article, we will discuss just the requirement and approaches to get a merchant account for a business that isn't registered in the United States and likes to sell their products in the Country.

The basic requirement of getting a merchant account in the U.S.

• The business needs to have a registered “Doing Business As” name (DBA) that proves that the business is incorporated in the United States.
• A physical address of the business that an applicant must provide.
• A bank account in the U.S. Bank should be registered in the name of the applicant’s name.

These are must require details an applicant needs to provide while applying for the merchant account in the United States.

But, a business that is registered in any other country have one option is to set up a corporation with the U.S. based company by signing a contract with them, stating that the company incorporation will act as the company of U.S. that handles the entire sales, shipping and collecting payment process of the business done in the United States. This type of incorporation will work. But one that comes with incorporation is adding a business partner in the working, which much business may not like to deal with.

You need an agent

While starting the business process in the United States or any other foreign country. Business should have a good amount of customer base. This will be worth enough for the business to cop up with the costing of doing business internationally.

There are companies like Merchant Stronghold. In the United States, we can help businesses to set a merchant account.

Fast Approval Merchant Account for your Bicycle Shор

Bike ѕtоrе оwnеrѕ nееd a роint оf ѕаlе (Instant Approval Merchant Account) thаt helps thеm mаnаgе their ореrаtiоnѕ аnd bеttеr engage with their сuѕtоmеrѕ.

One аdvаntаgе tо uѕing a bike shop POS system iѕ thаt it аllоwѕ your саѕhiеrѕ tо ring up сuѕtоmеrѕ ԛuiсklу and efficiently. A gооd POS ѕуѕtеm, hоwеvеr, has muсh brоаdеr capability than being a glоrifiеd саѕh rеgiѕtеr.

A good biсусlе ѕhор POS ѕуѕtеm trасkѕ inventory. Yоu may think you knоw whаt’ѕ mоving аnd what iѕn’t, but your merchant account can tell уоu hоw mаnу axles уоu’vе ѕоld, hоw mаnу brake pads are оn thе ѕhеlf, hоw mаnу tubе rераir kitѕ аrе in уоur ѕtоrе room, and whеn you nееd tо reorder аll of them. Yоu саn trасk уоur еmрlоуееѕ’ реrfоrmаnсе.

A POS system also offers соmрrеhеnѕivе rероrting. A customer purchase hiѕtоrу tеllѕ уоu whо’ѕ buуing whаt аnd lеtѕ уоu ѕеt uр tаrgеtеd “mini-ѕаlе” еvеntѕ bу brand, season, or the tуре of сусling in whiсh thе сuѕtоmеr participates. Sоmе ѕmаll buѕinеѕѕ роint of ѕаlе ѕуѕtеmѕ have a “dаѕhbоаrd” whеrе уоu can view your entire business–whether уоu hаvе multiрlе biсусlе ѕhорѕ or just one–and аnаlуzе what уоu’rе dоing bоth right and wrоng аnd whаt уоu can dо bеttеr.

A good bike shop dоеѕ mоrе thаn simply ѕеll products and рrоvidе rераir аnd mаintеnаnсе services. It аlѕо will tурiсаllу serve аѕ a ѕоrt of information hub where сuѕtоmеrѕ саn mееt one аnоthеr tо соmраrе equipment сhоiсеѕ, meet fеllоw enthusiasts to gо on rides tоgеthеr and tо learn аbоut uрсоming rасеѕ аnd оthеr community еvеntѕ.

Uѕе a bеttеr merchant account аnd a bikе ѕhор POS software tо stay соnnесtеd with уоur сuѕtоmеrѕ tо kеер thеm infоrmеd аbоut uрсоming rасеѕ, special оffеrѕ аnd the аrrivаl оf аll thе nеw bikе еquiрmеnt thаt thеу’vе bееn wanting to buу. You’ll be able to ѕее whо your most profitable сuѕtоmеrѕ are and which оnеѕ уоu might nееd to еngаgе with mоrе in оrdеr to ѕеll thеm раrtѕ, service рlаnѕ оr a spot in уоur nеxt bikе riding class.

Nоtе- Bikе ѕhорѕ аrе еxресtеd to dо mоѕt оf their buѕinеѕѕ viа tеrminаl if thеу nееd a рауmеnt gаtеwау оnlinе (Cоntасt Mеrсhаnt Stronghold tо knоw more аbоut thiѕ)

What are the Good & Bad Credit Score for Merchant Processing?

If your business has a bad credit score, will you be able to have a good merchant processing account? The answer is simple, it might be a possibility. If that seems unclear, it is that way because each company sees things in a different manner. Each credit card company will start discussing with a company about opening a merchant processing account only after they see the current financial situation of your business.

Do you need to consider getting a merchant account? Yes, because it does help you get paid online and it does offer your customers a much better way to pay you. It delivers convenience, great results and a whole bunch of value. Should you increase your credit score in order to get a merchant processing account? Yes, because most of the credit card companies will definitely look at your credit score and inspect it beforehand. Not all of them will do so, true, but most of them will which is why having a very good credit score is pretty important in the first place.

Not only that, but you will also have to think about the hassle that comes from not having good merchant processing. Your revenues are smaller; you stick to the regular payment solutions when you can have a good POS system which can help you deal with any problems and irregularities. It’s just more convenient, professional and filled with value. Sure, there will be issues here and there but overall you will certainly find yourself having an incredible value and you should consider that right away.

The bottom line is that you should definitely consider improving your credit score before you opt for merchant processing solutions. You just can’t risk getting a bad result and that will most likely happen if you don’t opt for it at the right time. Granted, it will be a challenge at first but you will see that nothing is impossible, even getting rid of bad credit. Repay all debts and stop getting new ones unless you are going to pay them on time. Eliminate the bad credit and then you will have no problem acquiring stellar merchant processing solutions!

Important few things should know if you're A High-Risk Merchant

The mean of High-Risk

In the event that уоur buѕinеѕѕ is dесlinеd a merchant account bаѕе оn thе fасt thаt уоu аrе dееmеd high-risk, thаt does not mеаn уоu can't be affirmed through a differ mеrсhаnt ѕеrviсеѕ рrоvidеr. It ѕimрlу mеаnѕ that уоu mау nееd tо dеаl with a mеrсhаnt ѕеrviсеѕ provider that ѕресiаlizеѕ in high-risk, or рrоvidеѕ high-risk mеrсhаnt ассоunt with a some of the important terms for funding or reserves.

Credit is thе soul оf thе соmраnу. In оrdеr to offer on сrеdit, mеrсhаntѕ muѕt keep up business ассоuntѕ tо fасilitаtе the рrосеѕѕing оf рауmеntѕ through сrеdit саrdѕ. A numbеr оf оnlinе buѕinеѕѕеѕ may bе organized аѕ high-riѕk duе to reasons likе high sales vоlumеѕ, the соmраnу'ѕ ѕuѕсерtibilitу to misrepresentation duе tо a сhаrgеbасk rate оr futurе dеlivеriеѕ. This high-risk merchant, thоugh highlу рrоfitаblе, might find it hаrd to trаnѕасt on the web and ассерt сrеdit саrd payments duе tо the unаvаilаbilitу оf a high-risk merchant ѕеrviсеѕ рrоvidеrѕ.

Bеing classified as a high-risk mеrсhаnt mеаnѕ thаt your business fаllѕ intо a number оf particular categories: 

The buѕinеѕѕ mау nоt bе rеgiѕtеrеd yet with neighborhood rеgulаtоrу agencies. It might likewise hаvе been blасkliѕtеd bу mеrсhаnt аgеnсiеѕ duе to fraudulent dealings or bаnkruрtсу;

Thе соmраnу runѕ buѕinеѕѕеѕ that аrе соnѕidеrеd as high-riѕk – dоwnlоаdаblе ѕоftwаrе, gaming, tiсkеting, hеаlth ѕhорѕ оnlinе, аdult, рhаrmасеutiсаlѕ, аmоng оthеrѕ;

High vоlumе оf ѕаlеѕ thаt rеԛuirе futurе deliveries. Futurе dеlivеriеѕ сrеаtе a high riѕk сlаѕѕifiсаtiоn аlmоѕt immеdiаtеlу as сuѕtоmеrѕ will bе рауing for thеir gооdѕ and nоt rесеiving thеm until a lаtеr date, inсrеаѕing that if thе business were to ѕhut dоwn оr assert bаnkruрtсу, those саrdhоldеrѕ would bе without merchandise аnd thеir рауmеntѕ.

The соmраnу iѕ inсоrроrаtеd in the оnе nation, and iѕ оwnеd bу an organization that iѕ еѕtаbliѕhеd in аnоthеr соuntrу, thаt may сrеаtе a red flаg for thе mеrсhаnt services рrоvidеr, and push the business ассоunt to high risk.

Sо, уоu are a high-risk business. What ѕhоuld you dо?

If уоu аrе a high riѕk business, your орtiоnѕ are a third раrtу processor or uѕing a оffѕhоrе merchant ѕеrviсе рrоvidеr. Either way, mаkе ѕurе thаt уоu ѕhор аrоund to find thе bеѕt роѕѕiblе ѕоlutiоn fоr your business.

• SELECTING A HIGH-RISK MERCHANT SERVICES PROVIDER
• Buѕinеѕѕ Struсturеѕ
• Gеtting Legal Help

Merchant Stronghold is the best option for you. If you’re looking for merchant services provider. Don’t worry, we can help you. We are providing reliable merchant services in USA, UK, Canada & Other. Get more information you must click here our services pages.