Starting a High Risk Merchant Account

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iPayTotal concentrates on both on the internet merchant credit card accounts and internet-based gaming payment gateways and offers the top gaming credit card merchant account on the market. iPayTotal’s team of experts in online gambling payment processors work closely with providers to be sure you can acquire the ideal for your small business needs.Via dedicated gaming acquiring partners, our company offers you everything you need to accept gaming card payments and spend winnings easily and securely. Our feature rich dedicated gaming solutions are fully flexible and also have been made to deliver value and growth in your business.

Merchant card account is a contract from the business along with a bank or perhaps a traditional bank. This contract makes sure that the lender accepts payments to the goods and services with respect to the organization. These Merchant acquiring banks ensures that a merchant or company can accept payment from international customers to the services or products they deliver. Thus merchant credit card accounts form a vital part of the E-commerce business.

There are two types of merchant credit card accounts. First is the normal account, where the merchant can directly access the card and be sure that it’s a legitimate customer, thereby the danger involved is minimal. The second sort of credit card merchant account demands the accounts where it isn’t possible to visually testify the client. These kind of accounts include porn merchants, online tobacco merchants, replica merchants, online gambling merchants, pre-paid calling merchants, VOIP merchants, multilevel marketing merchants, or any transaction that can place together with the customer physically not present. Thereby, the potential for fraud activity is significantly greater with this type of business which ends up in classifying most of these accounts as “high risk” ones. Naturally, higher than normal risk merchant accounts present the risk of the dreaded charge backs to the banks in question. It has been proved by various researches the dangerous processing transactions are more vunerable to fraudulent transactions.

These 4 elements considerably decrease the quantity of banks ready to use up elevated risk processing accounts. These adversely impact the applying company in configuring payment processing accounts. They often stumbled upon a situation where the banks generally decline their application, or impose high restrictions on the account transactions which virtually helps it be impossible to conduct normal business. Even if a merchant has built a payment processing account with a bank, the guy can not be certain that their bond using the bank remains safe and secure. The lender might revise their underwriting criteria anytime, and suddenly merchants are facing a predicament where the payment processes adversely affect their business.

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