Payment Methods for your E-commerce Business

If you are dealing in different countries then your business will surely include foreign currency. And to avoid any conflicts in the future, you need to normalize the price of your product to match the demands of the customer from different countries.

Sometimes, customer likes a specific product but does not purchase it. Simply because their preferred payment method is not available.

It is ideal to use the local currency to get revenue from a specific country.

If you are not ready to deal with a different currency then make sure to give the currency conversion option so the customers can see what they’re paying.

Choosing the right payment provider for your overseas transaction can be a tricky job.

While choosing the payment processor, make the security of the transaction your priority.

Plan your Big Entry

Start Small on Existing Market Place

You can start small with the existing e-commerce platform like eBay. As we discussed, the small start can be ideal for a business that is just entering the E-commerce platform. Moreover, starting small gives you plenty of time while making a transition from store business to e-commerce.

Small start allows you to test your product online.

Also, you get the appropriate amount of time to focus on your main business.

Choose a popular marketplace for your E-commerce Business for International Sales.

Optimize the Current Website for Ecommerce

If you do not wish to share your profit with other e-commerce platform and are confident about your product then you can optimize your website and make an e-commerce friendly website.

And for the E-commerce Business for International Sales, you need to give special attention to your website. For example, it should be understandable to an international client of different ethnicity.

Finally, when you are ready to take your business online you should start planning the future of your E-commerce Business for International Sales. Here is the list of topics that you should start thinking about if you want to take your business online.

• What is International e-commerce
• International e-commerce business
• International e-commerce strategy
• Cross-border e-commerce
• International e-commerce meaning

Contact Merchant Stronghold and get the required assistance for all your queries. Also, we specialize in high-risk and offshore merchant accounts.

What is Rolling Reserve & Why is It Important to Merchants?

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 economic and financial aspect of the business never sees any downfall.

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

WHAT IS 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 excessive chargeback in the business.

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

Excessive Number of Chargebacks – Most of the credit card 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 as the high-risk businesses, for example:

• Online Gambling Or Casinos
• Computer Software And Hardware Business
• Bitcoins Or Forex Trading
• Dating Services
• VoIP Or Telemarketing
• Pharmaceuticals Or Drug Stores
• E-Commerce
• 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.

If you have a high-risk business then rolling reserve is inevitable. However, you can work on other strategies to maximize the profit so that it won’t affect as bad as it may seem.

Furthermore, you can work on strategies to minimize the chargeback in the business. And finally, use the best business practice to eliminate any situation that can harm the reputation of business in any way.