Setting Up a High Risk Merchant Account

iPayTotal concentrates on both on the net merchant services and internet based gaming payment gateways and provides the top gaming credit card merchant account in the industry. iPayTotal’s team of experts in online gambling payment processors always work with providers to be sure you can acquire the great for your organization needs.Via dedicated gaming acquiring partners, our company offers you everything you should accept gaming card payments and fork out winnings easily and securely. Our feature rich dedicated gaming solutions are fully flexible and also have been developed to deliver value and growth to your business.

Merchant account is really a contract from your business plus a bank or even a financial institution. This contract helps to ensure that the lender accepts payments for your services or products on behalf of the organization. These Merchant acquiring banks means that a merchant or company can accept payment from international customers for the products or services they deliver. Thus merchant accounts form a vital part of any E-commerce business.

There are 2 kinds of merchant services. First may be the normal account, the location where the merchant can directly access the card and make certain it’s a legitimate customer, thereby the risk involved is minimal. The other type of merchant account involves the accounts where it’s not at all very easy to visually testify the customer. These types of accounts include adult entertainment merchants, online tobacco merchants, replica merchants, online gambling merchants, pre-paid calling merchants, VOIP merchants, multi level marketing merchants, or any transaction that can take place with all the customer physically not present. Thereby, the potential for fraud activity is a lot greater using this kind of business which ends up in classifying these kinds of accounts as “high risk” ones. Naturally, these high risk merchant services present the potential risk of the dreaded charge backs for the banks under consideration. Many experts have proved by various researches why these dangerous processing transactions are more susceptible to fraudulent transactions.

These factors considerably slow up the number of banks happy to occupy elevated risk processing accounts. These adversely get a new applying company in configuring payment processing accounts. They generally stumbled upon a situation where the banks generally decline their application, or impose high restrictions for the account transactions which virtually helps it be impossible to conduct normal business. Even when a merchant has generated a repayment processing account which has a bank, he can never be sure that the relationship together with the bank is protected. The financial institution might revise their underwriting criteria anytime, and suddenly merchants are facing a situation in which the payment processes adversely affect their business.

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