10 Facts About Merchant Account Processing

Merchant Account Processing: There are many misconceptions about Merchant Accounts and their service providers. In this blog, we will try to reveal some of the facts about the Merchant Account Processing.

While opting out for a merchant account, and choosing a payment gateway, businesses usually make mistakes some way or another. Whether you are new to the business or have lots of experience, you still might have some misconceptions about it.

Not Worth the Time – Firstly, entrepreneurs find that they have the best payment processing with the banks, some businessmen don’t care about the ease they get while doing the transactions through a merchant account.

Expensive Affair – Yes, the merchant accounts don’t come cheap, but they are not costly either. They just tell you the fees in a package where all the things are segregated and revealed as one. As well as the providers tell you the fees in percentage so, you have a clearer perspective on the rates.

Misleading Promotion – The misconception is that the service providers prevent the facts and sell the merchant accounts in higher percentages or give out misleading information as a result of non-formal training and burdened pressure to close a deal. Independent agents have a bad reputation for failing to disclose some of the more serious terms of the contracts they’re selling, especially early termination fees. Yes, there are some naturally talented and trained independent agents who have done well and can provide you with quality service.

Bad Customer Support – This whole game survives on the customer as it is fully dependent on them. It is a complete misconception that the providers don’t want to provide good customer satisfaction.

Payments are Going Cashless – Across the developed world, plastic and digital payments are overtaking cash. Cash is falling out of favor and the customers are more likely to pay by credit cards or online wallets than ever before. Offering solutions to the customers should be a merchant’s top priority (in this case, service provider), however, the rise in digital payments has also led to an increase in fraud and chargebacks.

Read More - https://www.merchantstronghold.com/facts-of-merchant-account-services/

Are you looking Secure Payment Processing for Online Businesses?

Nowadays, there are a lot of e-commerce and m-commerce transactions; opening doors for cybercriminals. As a merchant, you need to confirm that you provide the best payment security and that your customers don’t have to worry about their data. Customers usually cannot select their own payment gateway, so it’s up to you to make the best and perfect choice for them.

PCI COMPLIANCE

When you’re processing payments on your website, PCI (Payment Card Industry) is a must. The Payment Card Industry Data Security Standards (PCI DSS) provide direction for merchants that tell them what they need to do in order to secure sensitive data in payment processing.

A merchant doesn’t have to be PCI compliant if he/she selected the right payment provider (one with PCI level 1). He/she can leave it up to the payment gateway to comply with the industry level security excellence. Note that data encryption is needed by PCI.

SSL

Each and every transaction should be secured with SSL protocol. SSL helps to encrypt the information so that the card details and all other sensitive and important data is secured. It, of course, improves payment security but also makes customers more eager to for the purchase.
A padlock icon in the URL bar symbolizes the SSL, and the web address starts with https.

ADDRESS VERIFICATION SERVICE

You can also use an Address Verification Service, which requires customers to give the billing address connected with their credit card. If the address on the card matches with the one in bank’s documents, the transaction will go through.

Many companies have a problem of controlling the location and storage of their payment data, but almost 42% of the companies claim that payment data is at serious risk when it is stored. A Global Study on the State of Payment Data Security shows that over 50% of organizations had a breach involving payment data within the past three years.

Merchant Stronghold will help you secure your payment processing in order for you to provide the best payment security to your customers. We also provide high-risk merchant services, contact Merchant Stronghold to get answers to all your questions related to the security of payment processing.

Get Offshore Merchant Account Service In Easy Steps

We know very well about the Merchant Account Services. All we need is to understand the term “offshore”. Well, It is a type of account for a merchant in a non-resident country. So, it is a direct account but not a domestic account. It helps the merchant to process payments through their website and allows them to make a transaction and process their sale. It offers and contains all the features just like the regular and domestic merchant account. There can also be both the categories which support High-risk Business and Low-risk Business.

We know very well about the Merchant Account Services. All we need is to understand the term “offshore”. Well, It is a type of account for a merchant in a non-resident country. So, it is a direct account but not a domestic account. It helps the merchant to process payments through their website and allows them to make a transaction and process their sale. It offers and contains all the features just like the regular and domestic merchant account. There can also be both the categories which support High-risk Business and Low-risk Business.

How to Choose an Offshore Merchant Account Service

• In order to get a smooth processing solution under Offshore Merchant Service category which can be helpful in growing your business one needs to be careful and follow these steps.
• 
  
• International Payment gateway: getting an only Offshore merchant account is not Enough but the gateway along with the account should also be an International Gateway.
• Currency Support: It Should be Confirmed in Advance that Account given will Support required Currency.
• Advanced Security/ verification: To protect the transaction there must be advanced Security enabled… like 3Dsecure, Card verification, Address verification facilities.
• Customer Service and Support: Your Account Service Provider must be having a 24*7 and a very Supportive and caring Customer care/Support System in order to provide you any sales or technical support at the time of requirement
• On-Time payout: Above all the payout must be on time which is a major requirement of each and every merchant.

Get more information for contact us - +1 (888) 622-6875.

What are the High Risk Merchants?

It is difficult to start a business, as well as applying for a merchant account. The merchant accounts get approval or disapprove from the risk departments. While considering the business to be high-risk business or Low-risk. There are few reasons why any business can be in high-risk business.

Risk factors that make a business HIGH RISK

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

The high-risk merchant account categorization depends on your business’ industry. Regardless of your individual businesses’ track record. In addition, the high-risk category includes businesses that are declined by a previous credit card processors. And, businesses that are on the MATCH or TMF list. Also. the companies whose owners have bad personal credit or low credit scores or businesses outside the US.

Common High-Risk Industries

Any business with bad personal or business credit scores, a high chargeback history, a startup, or high frequency or high average tickets can be at high risk. On an individual basis, the majority of high-risk businesses are among such by the industry they operate in.

Some examples of high-risk industries include

• Document Preparation
• Downloadable Software
• Educational Software
• Electronics Business
• Extended Warranties
• Financial Aid Consulting
• Financial Services
• Fine & Cosmetic Jewelry
• Insurance Providers
• Magazine Subscriptions
• Air & Water Filtration
• Antiques & Collectables
• Apparel Sales
• Auto Parts & Accessories
• Auto Transport
• Businesses with Bad Credit
• Beer, Wine & Liquor Sales
• Computer Hardware
• Debt Consolidation
• Discount Buying Service

Get more information for you can contact us @ +1 (888) 622-6875.

Funds Faster for Online High Risk Merchant

In this article, we have covered a few of the strategies with which a merchant can get his funds quickly.

An Omission of Chargebacks: A business should be customer-centric and should always provide good if not the best customer service. Still, it is not necessary to have a chargeback-proof business. Always try to minimize the chargebacks. It would not only help your business in getting funds faster but also reduce the chances of getting under the TMF (Terminated Merchant File).

Documentation of Larger tickets: Just like any unusual high overall volumes will draw the attention of your merchant account provider, so will an unusual large individual transaction. The third-party processors hold the funds until you provide the documentation, or until the closing of the chargeback window. Most merchant accounts have the policy of holding the amount of the transaction exceeds the specified value. However, it’s usually a good idea for a large transaction (over $500) to have a numbered invoice and signature.

Quicker Funding and Less hold times: If you have chosen a processor with fast funding commitment then it will only be able to fulfill what’s promised if your business is healthy. Funding directly relates to your transaction timings. Getting funds faster is healthy for business but only when the business is doing well.

Choose a processor with good Customer Service: In an online business, fast funding also relates to good customer service. Understand and test how the customer service and response time is of the provider you are opting for.

Running a business is an ongoing process. It is difficult to maintain customer service while keeping customers happy and satisfied at all times. So if you are going through a tough time and need to change the processor or want better and quicker funding, give a call to Merchant Stronghold at +1 (888) 622 – 6875.

Easy ways to avoid Match List & TMF

If you find your business on the TMF or MATCH list, and you need to know how you got listed, reach out to your service provider and they can help you understand the exact reason.

You need to contact the previous bank with whom you had merchant services previously. Request them to give you the reason and reason code under which you were added to the MATCH.

You should know from the bank how to get off the MATCH or TMF. MasterCard, in general, puts the merchant for 5 years in the MATCH list. In case of fraud, you are highly unlikely to get off the list. Then, you do not have any option than incorporating a new company.

Why are Merchants added to MATCH or TMF?

Having a huge number of chargebacks on a monthly basis.

The merchant owes money to the bank.

Merchant caught practicing fraudulent activity such as money laundering.

Illegal-product or Advertisement.

Disclosing information of profit to the customer.

All in all, violating the terms of a Merchant Account.

What should a Merchant do to avoid these lists?

Never try any kind of fraud from you as well as your teams end.

Pay the debts on time and try not to owe any money to the bank.

Decrease the number of chargebacks.

Get an expert who can manage these for you.

What to do to get off the Match List?

The only company that can get you off the list is the company that put you on it.

Mostly, the merchant only learns that their business is on the MATCH is when they apply for a merchant account with another merchant service provider.

You should reach out to the previous service provider and ask him about the reason, and you can be referred to the acquiring bank itself; you may have to make diligent calls and be patient in this situation.

If a business was placed on the MATCH for high chargeback ratio, the processor needs to know that they are not going to get stuck with bills from the merchant’s former customers chargebacks.

Getting with the wrong service provider who does not understand your business is way more harmful than getting on the TMF or MATCH itself.

Get more information for directly contact us @ +1 (888) 622-6875.

What is the Online Payment Risk?

Online Payment Risk: Payment risk is considered as a loss if a merchant or a company handles a high volume of payments and they fail to comply with the contract.

The blockage of the payments as a source of fraud can be bounced back on the company. The truth is that every payment method involves risk. If you run an online business and process payments on your website, there is a risk involved. The major ones are fraud and operational risks.

There are many types of operational risks:

• Inadequate and Failed Information Systems
• Fraud and Chargebacks
• Processing Errors
• Breaches in Internal Sources and Control
• Commercial Disputes
• Unforeseen Calamity.

Since the online payments form the foundation for digital foundation services, an approach to managing and regulating their risk is the first step. A company should work for an approach for assessing the economic impact of risk from the perspectives of customers, providers, and self.

A high level of transactional risk exists with internet products, particularly if the lines of business are not planned and implemented properly. That is the reason when banks underwrite for high-risk business or any business, they always go for a check whether the business is properly planned and implemented or not, whether its website is PCI compliant or not.

Management of Risk:
A merchant needs to have a quantitative approach about the risk management to identify and manage it in online payment processing

A merchant needs to identify the most critical risks by tying them to business processes.
Quantify the severity of the identified risk, if they occur.
Measure the size of the risk and evaluate the likelihood of it, if it is to occur again.
If you are facing online payment risk, We can help you to manage risk and how to avoid this. Directly Contact Us @ +1 (888) 622-6875.

Merchant Account Vs. Payment Gateway | Merchant Stronghold

Merchant Account and Payment Gateway: The Basic requirement for starting up and running a business is having a Merchant Account and a Payment gateway. Both have an equivalent ratio for the smooth and balanced working of the business.  A businessman who has really started up with new e-commerce venture requires a point from where he can connect to the customers. Now we need to figure out how?

The foremost thing to run an e-commerce site is to have a proper cash flow in it. Hence, where do we need that money from; from the customer? Any entrepreneur running a High or Low-Risk business requires a Merchant Account and a Payment Gateway.

Merchant Account:

A type of an account that allows accepting online payment from the customers through many ways under legal wings of the payment service provider.

Merchant Account is created under the mutual agreement between a merchant and merchant’s acquiring bank, so to further proceed with future online payment.

Payment Gateway:

The next genuine question from your side: What Is Payment Gateway?

A payment gateway is a software program that works behind the scene. It is basically a process that enables the flow of the payment securely. It’s a secure way to transfer your customer’s money safely into your merchant account. It’s really very important to have a payment gateway for the following reasons:

• Prevents your money from fraudulent activities.
• Creates a trustworthy aura between you and your customers.
• Keeps you away from any future threat.
• Maintains a good graph in the competitive world.

High Risk Merchant Account for Escort & Adult Services

During the last numerous years, escort services have become one of the quickest growing industries. Having the abilities of credit card processing to your escort commercial enterprise will offer the first-class comfort for your customers. By allowing credit card payments, you can grow sales. Merchant Stronghold offers escort merchant accounts which are specially designed for online, in-app. Get in touch with Merchant Stronghold to manage your escort merchant account today.

MERCHANT STRONGHOLD WILL HELP YOU TO APPROVE ESCORT MERCHANT ACCOUNTS

Signing up for an escort service merchant account at Merchant Stronghold is straightforward. you may rest confident that your prices will never boom for the whole lifetime of your partnership at Merchant Stronghold with our Lifetime price Lock assure. Get custom-designed credit card processing solutions especially to meet your enterprise needs. help reduce the risk of chargebacks on your escort organization with secure and safe payment gateways.

Our U.S. based customer support service team is therefore ready to help. Get help with account questions, recommendation on credit card readers and to set up your online credit card processing account. Get more information to contact our Merchant Account Specialist.

We Process Payments For:

• Adult Dating Listings
• Online Dating Sites
• New Startups Business
• Established Companies
• Spa Business
• Tech Support Business
• Nutraceuticals

Hence, credit card fraud is an ever-developing epidemic. Consistently we read about the freshest security breach and the impact it had on the organization. When you are searching for an escort merchant provider, pick one that offers something other than payment processing but also the peace of mind.

Hey there, This is Merchant Stronghold. If you like this blog information please give me a good comment and you want to more information about related this topic click and Sign Up freely @ Escort Merchant Account

Let's Understand Rolling Reserve Merchant Account

What is Rolling Reserve Merchant Account? 

When it comes to new merchants and high-risk businesses, the bank takes all the possible caution to avoid any loss in their business. Due to which they have created a robust network of rules that need to be followed at all times so that the economic and financial aspect of the business never sees any downfall. 

This is the reason that the bank introduced the concept of Rolling Reserve Merchant Account.

Rolling Reserve is a fixed percentage (generally 5-10%) of a merchant’s transacted amount reserved by the bank which can be used in case of an excessive chargeback. This happens for only a short time interval (6-12 months) until the business gets some stability.

Upon completion of this time interval, the bank releases the amount to the merchant on the scheduled dates.

WHAT IS THE PURPOSE OF ROLLING RESERVE?

As we discussed, rolling reserves are applied for the merchants having a high-risk business. The idea of introducing the rolling reserve is to avoid any loss of revenue in case of an excessive chargeback in the business.

What are the traits that result in a high-risk business?

Excessive Number of Chargebacks – Most of the credit card processing networks have established 1% criteria where chargeback ratio of more than 1% will state as an excessive chargeback. Upon exceeding this limit, again and again, can make the business as a high-risk business.

Merchant With Poor Personal Credit– If you are a merchant with a history of bad credits in previous terms then you can face consequences while getting the merchant account. This means might be denied from a merchant account or get the Rolling Reserve Merchant Account for your business.

There are some businesses that are considered high-risk businesses, for example:

• Computer Software And Hardware Business
• Online Gambling Or Casinos
• Bitcoins Or Forex Trading
• Dating Services
• VoIP Or Telemarketing
• E-Commerce
• Pharmaceuticals Or Drug Stores
• Adult Materials, Products Or Services
• Airline Tickets
• Magazine Subscriptions

If you are a merchant of those businesses or similar businesses then you will be provided with Rolling Reserve Merchant Account.

Merchant Stronghold offers account services for the merchants with high-risk businesses. You can contact our experts by placing a call at the toll-free number +1(888) 622-6875.

What are High Risk Merchant Industries?

Common High-Risk Industries

Any business with bad personal or business credit scores, a high chargeback history, a startup, or high frequency or high average tickets can be at high risk. On an individual basis, the majority of high-risk businesses are among such by the industry they operate in.

Some examples of high-risk industries include

• Document Preparation -
• Downloadable Software
• Educational Software
• Electronics Business
• Extended Warranties
• Financial Aid Consulting
• Financial Services
• Fine & Cosmetic Jewelry
• Insurance Providers
• Magazine Subscriptions
• Air & Water Filtration
• Antiques & Collectables
• Apparel Sales
• Auto Parts & Accessories
• Auto Transport
• Businesses with Bad Credit
• Beer, Wine & Liquor Sales
• Computer Hardware
• Debt Consolidation
• Discount Buying Service

Risk factors that make a business HIGH RISK

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

The high-risk merchant account categorization depends on your business’ industry. Regardless of your individual businesses’ track record. In addition, the high-risk category includes businesses that are declined by a previous credit card processors. And, businesses that are on the MATCH or TMF list. Also. the companies whose owners have bad personal credit or low credit scores or businesses outside the US.

If you are looking High-Risk Merchant Account for your Online Businesses. We can help you with the best solutions and Instant Approval Merchant Account. 

You can contact us directly @ +1 (888) 622-6875.

High Risk Merchant Account Payment Gateway for Tech Support Business

Tech Support Merchant Account Provider

For retail merchants, it is pretty easy to get a payment processor but it’s not the same with tech support businesses. This is due to the high rate of chargeback risk involved. So when you are looking for a merchant account provider, you should always ask them certain questions before applying. These questions could go as follows:

• Do you provide high-risk merchant account for tech support businesses?
• What about remote tech support (if relevant)?
• Does the underwriting department approve of it?

At times salesperson will assure you that they do provide service to tech support business and after you complete the process of applying for it, and send it for approval to underwriting department; you might find out that your application is rejected because they do not support tech support business.

Can Merchant Stronghold help?

Merchant Stronghold has expertise in providing all-inclusive high-risk credit card processing services to tech support merchants. To get the high-risk merchant account for your business, you have to fill the application form and provide us with all the information. We will respond you back through e-mail with the list of pricing and terms as per your requirements. Once your application is approved, you can start processing. To make the process easier for you, we can also set up your chargeback management tools and payment gateway.

Let's Understand The Best Merchant Service Provider

HOW TO CHOOSE THE BEST MERCHANT SERVICE PROVIDER?

Go for the Track record of various Merchant Service Providers. Before subscribing to the merchant service, you must check the previous records and reviews of that provider. If they have a positive record then you should feel free to add them to your list.

They are providing at a reasonable market price. You must check the market price for the services that you are looking for. Moreover, you can compare the prices and get the one suiting your requirements.

The Efficiency of the Support Service. While using the merchant service, a merchant may need assistance every now and then regarding the charges and more. In such cases, your merchant service provider must offer nice support, preferable 24/7 support.

Understand the need and requirement of your business. You must get the package or service that goes perfectly with your business. This includes subscription charges, monthly or annual limit, and more. Make sure you consider the expansion of business while choosing the merchant service provider.

THE QUESTIONS YOU SHOULD ASK WHILE CHOOSING THE BEST MERCHANT SERVICE PROVIDER

• What kind of support services they offer? – 24/7 support or Live Support
• Will they allow both online and offline processing of transactions?
• Details related to the PCI-Compliance and other charges
• How long have they been into this business and What are their customer reviews?
• What is their response towards the chargeback and frauds?
• What is the average fund processing time?
• Details related to cancelation and fund replacement
• What kind of compatibility appliance do they need or offer?

We understand every business is different and so does the demand of the business. This makes it clear that your business needs customized planning. The article provides brief details to choose the merchant service provider. If you want to know more then contact Merchant Stronghold and talk to an expert.

COMPUTER REPAIR, ANTIVIRUS SERVICES, REMOTE TECH SUPPORT, IT SERVICES MERCHANT ACCOUNTS

Computer Repair, antivirus services, Remote Technical Support, IT Services High-Risk Merchant Accounts are always in high demand. Why are remote technical support, computer repair, antivirus services, IT services merchant accounts so hard to get? 

When you are looking for a merchant accounts provider that you can trust look no further than Merchant Stronghold. We understand your business and most importantly we know how to support you and your company when you need it most. Tech support merchant accounts are easy to get approved with our high- risk merchant account specialists are very experienced and knowledgeable both in domestic high-risk merchant accounts, cross border merchant accounts and offshore merchant accounts. If you are interested in learning more about the difference between domestic and high-risk merchant accounts click here. If you are seeking computer repair, remote technical support, antivirus services, IT services merchant accounts just give us a quick call today @ +1 (888) 622-6875.

Merchant Stronghold provides trusted credit card processing solutions to tech support businesses throughout the U.S, Canada, Europe, and India. Because the tech support industry is often deemed ‘high risk’ by traditional merchant processors, reliable tech support merchant account can extremely difficult. If your business provides the following services we have turn-key, world-class payment processing solutions available to you: IT services - Antivirus Services - Remote Technical Support much more. We have long standing relationships with global payment processors, banks, online gateways, traffic companies and rep-resentment firms.

To know more information for you can contact us via Email - info@merchantstronghold.com