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.

Merchant Account for Document Preparation Services Business

Document Preparation for Merchant Account

KYC

1. DL

2. Personal Bank Statement

KYB

1. AOI

2. EIN

3. Business Bank Statements

4. Void Check or Bank Letter

A business can successfully grow if it has all kinds of required services. A credit card processor is one of those services. If you have business or organization which prepares documents or keeps the records in the written form, then you must, without any doubt, get a credit card processor for accepting payments.

How Does Credit Card Processor Work?

First of all the issuing bank issues the card to the card holder. The cardholder is often referred to as a consumer once the card has been used to pay for goods or services. The consumer then pays the required amount to the merchant in exchange for goods. 

Then this payment is accepted by a merchant bank or acquiring bank to complete the transaction. Though in this story the leading role is played by the payment processor or credit card processor which accepts the payment on the behalf of the merchant and his/her bank.

How Would It Help In Document Processing Businesses?

A credit card processor plays a vital role in any kind of business. If the company has the business of processing documents then a credit card processor will be worthwhile for the business. It can eradicate the efforts of merchants when it comes to being paid for their services. A couple clicks and any person can be your customer.

Few Things You Must To Know About Credit Card Processing

Credit Card Processing: The Introduction of Square in 2009 and PayPal in 2012 brought the quick-pay system and ease of transaction, since then the E-Commerce business has thrived. Now everyone can accept the credit cards in addition to cash and check, which raises the question, how much should you pay for credit-card processing for High-Risk Merchant Account and payment gateway?

You must make sure that you’re not being looted in the name of special merchant services. We’re here to help you navigate credit card processing and help you get the best rate possible for your business. So, stick around!

Factors that affect the rate:

Privileged services:

Privileged services would not affect the basic rate, but it would surely affect your markup in the name of, PCI compliance, merchant gateway, statement fees and so on. So, kindly take in consideration all types of costs before signing up for an account.

Size of the ticket:

Different variations in your ticket size affect your price. Bigger ticket sizes are considered as high-risk that eventually increase the rate for you.

PCI Compliance:

PCI-Compliance is like a vow to protect the customer’s identity. It is the set of rules, which a company has to follow to keep the personal information of its customers safe.

Other considerations:

Many of the processors will charge you a minimum fee if you don’t meet a specific volume of processing. Many of them won’t show it to you at all. Also, worth noting is that if you have purchased a CNP (Card not present) then you might get a better rate otherwise, you get charged extra.

There is no control over the rates as all the companies have their own entities deciding on the rate. There could be a standard rate decided by a group or a region, but no one can say that the rate could be matched or has a single pricing model for all kinds of companies.

Wherever you can ask, we suggest you ask for interchange-plus pricing. Even if merchant accounts never promote these plans, they often have them. It’s the most transparent payment model which doesn’t have enough margin.

To get more information you can contact: 

PH: +1 (888) 622 – 6875

Email:info@merchantstronghold.com

Technical Support Checklists Of Merchant Stronghold

Technical Support Checklists

Merchant represents and warrants each of the following by checking it and signing below:

Merchant is engaged in the business of offering technical support services and has obtained, and throughout the term of the agreement will maintain all local, state, and federal licenses, registrations, and approvals required to conduct such business. All technical support services for which Merchant services charge any customer will be provided only by the Merchant, and will not be referred, re-directed, or outsourced to any third party.

Merchant understands, currently fully complies with, and during the term of the agreement, will fully comply with all relevant provisions of all of the following as amended from time to time: section 5 of the Federal Trade Commission Act, 15 U.S.C. §45;

The Telemarketing and Consumer Fraud and Abuse Prevention Act. 15 U.S.C § 601, et seq(“TCFAPA”) and all regulations implementing the TCFAPA including without limitation the Telemarketing Sales Rule, 16 C.F.R. §310.1, et seq.,

The Telephone Consumer Protection Act, 47 U.S.C. §227, et seq. (“TCPA”) and all regulations implementing the TCPA including without limitation 47 C.F.R§64.1200, et seq.;

The Electronic Funds Transfer Act, 15 U.S.C §1693, et seq.(“EFTA”) and all regulations implementing the EFTA including without limitation Regulation E,12 C.F.R. §1005.1, et seq.:

The electronic signatures in global and National Commerce Act, 15 U.S.C. §7001, et seq.; and all other applicable federal, state and local laws, rules and regulations including, without limitation, those referring, relating or operating to the foregoing, consumer privacy and protection, credit , lending, finance, usury, and banking, and with the Rules (as defined in section 1 of the Agreement)

Merchant will immediately notify MSH and Bank in writing of any inquiry, investigation, complaint, charge, subpoena, claim, request for information, judgment, injunction order, cease and desist order, any similar judicial, quasi-judicial, administrative, or executive order, or any license or permit revocation or cancellation by any local, state or federal law enforcement or regulatory agency, entity, or official in connection with or relating to Merchant’s business including without limitation of any complaints, charges or claims against Merchant by any customers of Merchant or by any local, state or federal official.

In addition to the indemnity obligations set forth in the Agreement, Merchant will also indemnify MSH and Bank, harmless from and against any and all losses, costs, liabilities, damages and expenses (including attorneys’ fees and collection costs) resulting from or incurred in connection with any inquiry, investigation, complaint, charge, subpoena, claim, or request for information of or against Merchant, or against or involving MSH or Bank in Connection with Merchant, by any local, state or federal law enforcement or regulatory agency in connection with or relating to Merchant’s business including without limitation of any complaints, charges or claims by any customers of Merchant or by any customers of Merchant or by any local, state or federal official. Merchant understands that MSH or Bank may terminate the agreement effective immediately in the event of any breach of this addendum or as otherwise set forth in the Agreement.

Tech Support Merchant Account Fees

Our tech support merchant account fees are competitive and affordable, and our application process is free. Once our underwriting department matches you with one of our acquiring banking partners, the bank will then process your application and determine your merchant account fees.

Domestic & International Merchant Account For Your Travel Business

Travel-oriented businesses are considered risk merchants as far as credit card processors are concerned. Therefore are among the most difficult business types to acquire successfully accepted for a Merchant Account. The reason is that experience demonstrates that customers are impressive. They are more able to dispute and chargeback travel agency transactions than most others.

Domestic & International Account

International merchant accounts are the best solution if you have target markets outside of the US.  

• Establish accounts with acquiring banks in all the regions in which business is conducted.
• Save money on processing fees by taking advantage of the lower intra-region interchange.
• Decrease foreign exchange expenses
• Pay local vendors and workers in local currency
• Gain access to alternative payment methods popular in many parts of the world

A domestic high-risk merchant account works well. The USA acquiring banks will accept travel merchants. Now, many US travel merchants combine domestic travel merchant accounts with offshore processing to:

• Mitigate risk by diversifying location of banks
• Obtain higher processing volumes. Offshore accounts often have no caps on processing.
• Take advantage of business benefits offered by some offshore jurisdictions
• Understanding your risk exposure will help you take sufficient steps to minimize it. Also, protect your travel agency from losses associated with chargebacks resulting from customer disputes and fraudulent transactions.

For one thing, starters you should apply for a Merchant Account with the suitable kind of payment processor. This implies one that represents considerable specializes in high-risk merchant accounts–otherwise, you are simply wasting your time and money. Fortunately, there are a few several processing networks available that do specialize in such higher-risk merchant types, unfortunately at a little-enhanced cost consistent with the improved risk involved.

Why Offshore Merchant Account Important For Business

The term ‘offshore’ is basically used to describe banks from countries other than home country or foreign lands. An offshore account is like any other merchant account opened in any country other than the merchant’s home country. The main benefits of an offshore account are the security and the option of accepting major currencies. It also helps the merchant in increasing revenue due to tax relaxation, provides greater privacy to merchants and helps in gaining more customers (major currency acceptance).

E-commerce and offshore accounts are highly linked as merchants, irrespective of their industry types. It aims at attracting a majority of customers and look for maximizing sale to earn good profit. To achieve this, the merchant needs to have a merchant account that accepts the majority of credit cards. But it is not that easy to open a merchant account, as it includes many requirements and lengthy procedures, which is not the case with an offshore merchant account. Most of the businesses like to maintain an offshore account as it provides many financial and legal advantages to its client.

Most of the merchants choose offshore accounts over merchant accounts for various reasons. Few of them are below:

• Hassle free procedure
• Low initial costs
• Low taxes/ tax relaxation
• International Reach
• Major credit card acceptance
• Different currencies

Why are Offshore Accounts so Popular?

No matter how small or big business you own, any merchant can get an offshore account. Especially, merchants who are planning to set up an online business, irrespective of their size, prefer offshore account over merchant account due to low initial cost.

Every merchant running an online business wants to hit the international market at a certain point of growth. Offshore merchant account makes the acceptance of various currencies as well as credit cards much easier. Although, merchants who are dealing with local customers with the prime objective of capturing the domestic market don’t get enough benefits from offshore merchant account as compared to the merchant targeting the global market.

Things to Remember

If you are searching for an offshore Merchant account provider, there are many providers available online. But it is completely a merchant’s choice to decide which one is better for their business and which one will turn out to be more beneficiary. Making a decision and choosing a suitable offshore account provider is very important because benefits provided may vary from one provider to the other. So take your own sweet time to think, decide and choose the right one to enjoy the benefits of an offshore account.

Credit Card Payment Processing After Signature Rule Change

In this article, we discuss the details related to Credit Card Payments After Signature Rule Change. We will discuss old and new rules related to the payment after signature. For more information, feel free to contact Merchant Stronghold at the toll-free number.

Why There was Need to Make Changes to the New Rule?

Other card networks such as Visa, American Express followed over the steps of the MasterCard. But the Visa made it optional to sign on the receipt. Here are factors that made card networks to change the norms related to signature.

The Card brands wanted to speed up the payment process by eliminating a step that is Signature.

Also, a signature is not strong evidence to fight against chargeback/fraud for a merchant.

Most of the signatures were unrecognized by the customers.

Also, most of the people are adopting the internet banking methods, where signature rules are not applicable.

Moreover, by applying the proper safety instruments, a merchant can reduce the card fraud and number of chargebacks. And new methods are more reassuring than the previous ones.

This is one of the most recent changes and many customers are not aware of this. The process of Credit Card Payments After Signature Rule Change is a lot easy. However, many customers still wait to sign the slip after making the payment.

How does this affect a Merchant?

The Merchants are most affected by these changes. Also, some of them are in favor of the changes while others were not that satisfied with the changes. These new changes have left the merchant with one question, “How to Process Credit Card Payments After Signature Rule Change?” Here are some important guidelines for a merchant that can help them understand the new process.

The Payment Processing will be fast now.

Alternatively, they are provided with a new set of rules that are also applicable to Internet banking and similar transactions.

A receipt with signature was not at all helpful to fight against reversal cases.

It will reduce the need to keep every piece of paper stored for the merchant.

As the online details or digital details would be enough to help with the further processing.

We can say that the payment experience has become much better for both merchant and customers.

We provide assistance to high-risk or offshore businesses along with the credit card processing tips for various business models. Contact us at the toll-free number +1 (888) 622 – 6875 or try the email support.

High-Risk Merchant Account for your Subscription & Membership

A Result, 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.

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.

Membership/ Subscription can Affect Your Business?

Your Membership site may be absolutely clear and genuine with its people about any charges to their cards, yet being a bit of an industry with a reputation for precariousness makes it harder to secure an enlistment site portion taking care of record – especially one with respectable rates and conditions. Your best decision is to work with a credit card processing with the association that has some skill in high-risk merchant accounts. A part of the portion processors willing to offer you a record may charge high costs or keep down a senselessly broad level of your compensation as a “moving store” to cover the risk of chargebacks and diverse hardships from harried people.

While dealing with associations are taking a wager by offering speaks to enlistment districts and need to secure them, these high rates can be troublesome for privately owned businesses. Merchant Stronghold-Merchant Services is cheerful to work with High-Risk Merchant and tune in to their requirements to give sensible participation site accounts.

Get 100% Secure Merchant Account For Your High-Risk Businesses

If уоu аrе a high-risk business, your орtiоnѕ are a third раrtу processor or using an offshore 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

Whеn choosing a high-riѕk mеrсhаnt provider, always bе guidеd bу thе golden rule of rеаding аll dосumеntаtiоn рrоvidеd аnd аррliсаtiоnѕ thоrоughlу. Thаt inсludеѕ; finе рrintѕ, nоtеѕ, tаxеѕ, fees, contingent fееѕ, miѕсеllаnеоuѕ charges аnd any tуре оf rеѕеrvеѕ аѕѕосiаtеd with the ассоunt. Aѕk ԛuеѕtiоnѕ if some оf thе рrоviѕiоnѕ аrе ambiguous. Mоѕt оf thе mеrсhаnt service providers have diffеrеnt fees аnd charges fоr оnе buѕinеѕѕ tуре tо аnоthеr. Hеnсе, it would bе better to аѕсеrtаin thаt уоu аrе rightlу classified, аѕ you should bе.Tаkе thе timе to gо thrоugh аll the imроrtаnt facts of gеtting a high-risk merchant services ассоunt. It mау tаkе a bit mоrе timе thаn tурiсаl ассоunt, but remember, withоut bеing able to ассерt сrеdit саrdѕ аt уоur business оr online ѕtоrе, thе rеvеnuе that you аrе going tо bе missing оut оn will grеаtlу outweigh thе соѕtѕ of thе ассоunt.

Buѕinеѕѕ Struсturеѕ

Whеthеr it’s a high riѕk business оr nоt, choosing a business ѕtruсturе is one of the firѕt steps in ѕtаrting a buѕinеѕѕ. There iѕ no реrfесt business ѕtruсturе, аnd еасh structure has itѕ оwn аdvаntаgеѕ and diѕаdvаntаgеѕ. Fоr еxаmрlе, while a sole рrорriеtоrѕhiр iѕ nоt subject to dоublе taxation, it doesn’t рrоtесt thе owner frоm реrѕоnаl liаbilitу.

Sеlесting a buѕinеѕѕ ѕtruсturе invоlvеѕ thе consideration оf vаriоuѕ fасtоrѕ, rаnging frоm the соѕt and еаѕе of setting uр thе buѕinеѕѕ tо tаx trеаtmеnt and реrѕоnаl liability оf thе оwnеr. While it’s uр tо each buѕinеѕѕ оwnеr tо select thе ѕtruсturе that wоrkѕ bеѕt for hiѕ оr hеr buѕinеѕѕ, structures that minimizе one’s реrѕоnаl liability wоrk bеѕt fоr high riѕk businesses. To do this, соnѕidеr fоrming a соrроrаtiоn, limitеd liability company, оr a limited liаbilitу partnership. Yоu ѕhоuld avoid bеing thе ѕоlе оwnеr of a high riѕk buѕinеѕѕ (gеnеrаl partnerships invitе ѕimilаr liability riѕkѕ), аѕ thеѕе buѕinеѕѕ ѕtruсturеѕ lеаvе thеir оwnеrѕ open to реrѕоnаl liability fоr thе dеbt аnd judgmеntѕ inсurrеd by thе buѕinеѕѕ.

Getting Legal Help

Starting a buѕinеѕѕ саn bе еxсiting аnd scary аt the same timе. Thеrе are mаnу thingѕ thаt buѕinеѕѕ оwnеrѕ hаvе to think about аnd take care оf so that thеу саn bе in line with the аррliсаblе laws аnd рrоtесt thеmѕеlvеѕ frоm реrѕоnаl liаbilitу. A аttоrnеу саn be a very hеlрful rеѕоurсе when starting a buѕinеѕѕ — еѕресiаllу a high riѕk buѕinеѕѕ — аnd саn help you avoid рrоblеmѕ in thе futurе. If уоu have аnу questions оr соnсеrnѕ аbоut starting your buѕinеѕѕ, it’s in уоur best intеrеѕtѕ to соntасt a buѕinеѕѕ organizations аttоrnеу in your аrеа.

Email us anytime! @ info@merchantstronghold.com 

Compare The Best Payment Gateway Provider

You can follow this article to compare the Payment Gateway provider in the market. For more information, you can contact Merchant Stronghold for the assistance. Also, we can help you choose and compare Payment Gateway Provider.

Fees and Additional Fees for the Services

The transaction processing fees and other fees for the services can affect your profit. As a merchant, you should compare the payment processing fees of the services and then get the one that is required. Here are the different fees or charges that a payment gateway service provider can ask.

• Customer service fees
• Monthly fees
• Termination Fees
• Setup fees
• Batch fees
• IRS (Internal Revenue Service) fees
• Contract Fees
• Annual fees
• PCI (Payment Card Industry) compliance fees
• Statement fees

These are the list of fees that a payment gateway provider can ask. There could be more than what is available in the list above.

Security and Customer Service

When you are Comparing Payment Gateway Provider, you must check the security and customer services provided by the different service providers.

• Make sure you read the terms and conditions of the company.
• Moreover, check the support provided by the gateway service provider in case of fraud and chargeback.
• You must check the kind of security they provide.
• A security breach can affect not only the merchant but also the customer’s money.

Allowed Card and Payment Types

Types of cards and payment types should be allowed while accepting the payment to help the merchants to compare Payment Gateway provider. Here is the list of popular Card Service Providers:

Visa – MasterCard - American Express – Discover – JCB – Diner

You must choose the card acceptance according to your customers. Also, compare Payment Gateway provider depending on the majority of card payments you get.

User-Friendly or Customer Friendly

The Payment Gateway should be interactive and easy to use for the customers. That means the customers with or without technical knowledge should be able to use the Payment Services with ease.

• As most users now make their transaction using mobile phones.
• Check whether the services are available on mobile phones or not.
• Moreover, their response and the waiting time for each payment should also be taken into consideration.

We provide assistance with high-risk payment gateway, credit card processing, merchant processing services and many more. You can call us at the support number or access the 24/7 email support.

Start International Merchant Account for Subscription and Membership

Why considered as “High-risk”

In the year 2010, the proprietors of many membership websites found their merchant account closed abruptly. The reason for this action was new guidelines released by MasterCard that put certain practices common to the membership site business model under much greater inquiry or analysis. Before MasterCard implemented new rules, many membership sites used techniques that were widely regarded as deceptive or even fraudulent. Not only MasterCard changed its policies, but Visa had also issued similar guidelines. This resulted in conceding all the membership sites as high-risk merchants.

Affect on business

Your membership site may be entirely forthright and honest with its members about any charges to their cards, but being part of an industry with a reputation for deception makes it harder to obtain a membership site payment processing account – especially one with decent rates and conditions. Being the part of an industry with a reputation for precariousness makes it harder to secure an enlistment site portion taking care of record, especially one with respectable rates and conditions. Your best decision is to work with a charge card dealing with an association that has some skill in high peril merchant accounts.

How to start a merchant account

Your best option is to work with a credit card processing company that specializes in high-risk merchant accounts. Some of the payment processors willing to offer you an account may charge high fees or hold back an unnecessarily large percentage of your income as a “rolling reserve” to cover the risk of chargebacks and other losses from unhappy members. While processing companies are taking a gamble by offering accounts for membership sites and need to protect them, these high rates can be painful for small businesses.

In high-risk business, you must work with a charge card dealing with an association that has skills in high-risk merchant accounts. A part of the portion processors willing to offer you a record may charge high costs or keep down a senselessly broad level of your compensation as a “moving store” to cover the risk of chargebacks and diverse hardships from harried people. While dealing with associations are taking a wager by offering speaks to enlistment districts and need to secure them, these high rates can be troublesome for privately owned businesses. Dealer Stronghold-Merchant Services is cheerful to work with High-Risk Merchant and tune in to their requirements to give sensible participation site accounts.

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.