What Is High Risk Ach Processing [InfoGraphic]

Understanding High Risk Ach Processing

Some of the business owners are rejected from being provided with the ability to ach payments from customers. If you are such a business owner, you don’t need to worry about anything because there is still hope. In other words, you will be able to find plenty of service providers who offer ach processing to business owners like you.

The processors consider several factors into account when determining whether a specific business processes a risk or not. Out of these factors, the risk associated with your business industry holds a prominent place. For example, if your industry is linked to a high risk of “Unauthorized Returns”, you will be denied from receiving a merchant account.

Bad credit can also be considered as a key factor, which determines whether you will be able to obtain a merchant account or not. Therefore, you need to focus on getting rid of bad credit ratings as much as possible. However, you will not be able to do it overnight and you will have to wait for several months.

High Risk Ach Processing can be considered as one of the most convenient methods available for you to stay away from the frustration stated above. In here, you will be able to convert your checks electronically. As a result, Ach payments would be processed without leading you towards any hassle.

High Risk Ach can therefore be considered as an excellent tool that is available for the people to stay away from wasting several hours for the checks to show up. You will be able to receive money for your checks faster than ever. As a business owner, you have a clear understanding on how your clients would be benefited when they are getting paid within a short period of time. This can leave a positive impression on your business as well. As a result, you can easily increase the number of sales that is done by your business. Most importantly, you don’t have to run to the bank and it can help you save a considerable amount of time.

It would be a good idea to have a clear understanding about the ach check processing steps as well. Then you will be able to figure out what’s missing in the payment processing scope of your business as of now. If the customers are not making payments on time, or you have come across instances where you cannot get the payments processed on time, you will have to deal with a lot of frustration. High Risk Ach Processing can keep you away from that frustration.

With High Risk Ach Processing, you don’t need to wait for days, weeks or months in order to get the payments processed. You will be able to get them processed within a short time period of just 24 hours. Therefore, it is extremely important to take a look at this amazing opportunity that you have in front of you. Your business will be benefited by it in the long run.

Contact Us: If you are experiencing difficulty in getting approved for ach processing and provide a legal product or service. We can help.

High Risk Merchant Account LLC
915 Folly Road, Suite 49
Charleston, SC 29412
1-877 493-4622
https://hrma-llc.com/high-risk-ach-processing/

June 13, 2017

Merchant Accounts For Collection Agencies

Challenges For Getting A Collection Agency Merchant Account

When it comes to businesses, reputation plays a major role. In other words, a business maintaining an excellent reputation will be able to achieve greater heights without going through any hassle. On the other hand, negative reputation is powerful enough to destroy your entire business. As a result, the banks tend to take a look at the reputation maintained by business entities before offering merchant accounts to them.

How do banks take a look at collection agencies ?

Most of the banks have a negative viewpoint towards the collection agencies. It is true that collection agencies provide a unique service for the people in need. For example, it can hold all the partners and customers financially responsible for each other for the goods or services that are provided. Due to the nature of service offered, it has become important for the collection agencies to incorporate credit card processing as well. That’s mainly because the people who obtain debt usually tend to schedule automatic payments through their credit cards. It is up to the collection agency to grab these automatic payments.

However, some of the actions that are taken by collection agencies out there in the world have created a negative reputation on the entire business entity. For example, calling the workplace of the debtors, calling them throughout day and night and harassing them publicly are some of the actions taken by collection agencies, which have ruined their reputation.

What factors are working against the collection agencies ?

In addition to the above mentioned reasons, there are many other factors, which work against the collection agencies. The number of charge backs holds a prominent place out of them. A lot of people promise the collection agency to make payments. They also initiate the payment, but after a while, they call the bank and cancel the payment. This can lead the collection agencies towards major losses. As a result, the banks believe that collection agencies are at the risk of ending up in a place where they don’t have enough money to sustain the business. Some of the other factors that work against collection agencies include job stress level and high employee turnover.

What sort of merchant account providers are willing to offer services to collection agencies?

Collection agencies don’t need to worry about anything because there are merchant account providers, who are looking forward to deliver merchant accounts to high risk entities like them. In fact, a lot of merchant account providers see collection agencies as honest businesses. They have also figured out the prominent service that is delivered to the society by collection agencies. As a result, they tend to offer merchant accounts and make the life easy for the business entities. If you are attached to a collection agency, searching for a merchant account provider would not be something difficult to do. You just need to roam around a bit and you are guaranteed to end up with success.

Contact Us: To discuss getting a collection agency merchant account.

High Risk Merchant Account LLC
915 Folly Road, Suite 49
Charleston, SC 29412
1-877 493-4622
https://hrma-llc.com
https://hrma-llc.com/collection-agency-merchant-account/

June 2, 2017

eCommerce: Reduce Credit Card Fraud

Reducing Credit Card Fraud For eCommerce Merchants

Credit card frauds have become one of the biggest headaches faced by merchants who live in every corner of the world. As a result, all the merchants who offer goods are services are at the risk of losing huge amounts of money. Here is a list of few effective tips, which can be followed in order to stay away from credit card frauds.

Get to know the IP location of your customers

You can easily track the location of your customers via the IP address. Some of the locations are associated with a higher probability of scams when compared to others. If you can figure out that geo-location beforehand, you will get the opportunity to reject doing business with those customers. Comparing the geo-location with billing address IP address can be used to track the geo-location. Then you can compare it with the billing address to determine whether you are dealing with a genuine customer or not. If you want to make sure that the customer is a legitimate one or not, you can give a phone call and verify.

See whether the country is associated with a higher risk

You can get hold of a list of countries that are associated with the highest risk of credit card fraud. Then you can take necessary steps to stop doing business with customers who come from those countries.

See whether anonymous use of free email has been used

It has been identified that most of the credit card frauds are associated with free emails. Therefore, you can think about using the email address as a parameter in order to stay away from potential fraud.

Check whether an anonymous proxy has been used

Some of the credit card frauds take place via anonymous proxies. Therefore, you can think about analyzing whether your customers come through an anonymous proxy. If you do, you can refrain from doing businesses with those individuals.

Check whether the delivery address is a mailbox

Most of the fraudsters don’t tend to expose their real information such as the address. As a result, they use mailboxes in order to get their products delivered.

Check whether the phone number is a valid one

You can simply give a call to the customer after order confirmation to see whether it is a valid one or not.

Use AVS to ensure customer knows the billing address

The credit card issuing bank should map with the zip code of the billing address. If not, it would be a good idea to refrain from doing business.

Use CVV2 to verify card was present
Your CVV2 verification will reduce stolen card number fraud, if only the card number was stolen.

Give a call to the credit card issuing bank

Contacting the credit card issuing bank can also be considered as a convenient method that is available for you to identify whether you are dealing with a legitimate customer or not.

Ask for more information if there is a doubt

Whenever you come across a doubt, you should never think twice before you initiate the business.

Contact Us: To discuss a fraud prevention strategy for your business.

High Risk Merchant Account LLC
915 Folly Road, Suite 49
Charleston, SC 29412
1-877 493-4622
https://hrma-llc.com
https://hrma-llc.com/high-risk-merchant-services/

May 25, 2017

Firearms Dealer Merchant Accounts

Merchant Account For Licensed Firearms Dealers

In today’s world, it has become important for every business to go online. Even if you are a firearms dealer, you will be able to increase your chances of finding potential customers when you go online. As a certified firearms dealer, you are provided with the opportunity to obtain a legal Federal Firearms License. However, you need to have a clear understanding about the process of obtaining it to stay away from frustration.

What would happen when you approach a bank with your application?

Most of the license firearms dealers are being rejected by banks because they consider it as a risk to deal with a merchant who sells firearms online. Since most of the people tend to make payments using their credit cards, it is important for you to be equipped with an online merchant account to accept and process credit card payments.

When you are working as an online firearm merchant, you are not in a position to get a signed copy of the credit card receipt from your customer. This can increase your chances of experiencing refunds, frauds and chargebacks. Even if you work hard to deliver the best quality products to your customers along with a superb customer experience, you won’t be able to avoid them.

Take a look at third party merchant account providers

Even the bank approves your application; you will have to agree upon higher rates and fees due to the above mentioned risk factors. Therefore, you will need to seek the assistance of a service provider that offers third party merchant accounts, such as www.hrma-llc.com. They have plenty of experience with handling the merchant accounts of firearms dealers. In addition, they are in a position to offer integrated solutions, which can cater the specific needs and requirements of your business. They consider working with firearms merchants is less risky when compared to other online businesses.

How to obtain an online firearms merchant account?

If your business gets a higher sales volume, the bank would shut down your merchant account due to the high risk factor, hrma-llc.com has provided a convenient solution for you to stay away from the frustration associated with it. Now you will be able to obtain an offshore merchant account or a high risk merchant account, which have specifically been designed for businesses like yours. You will never be asked to bear a high initial cost or deal with the frustration of getting your account closed, when you make the decision to go ahead with the solutions provided to you by High Risk Merchant Account LLC. They create an ideal platform for your growing business and assist you to provide a convenient payment process to your customers.

Selecting the right merchant to process the credit card payments done by your customers cannot be considered as an easy thing to do. If you are a firearms dealer, you would come to a point when giving up your hopes due to back to back rejections. That’s where you need to take a look at the solution provided by High Risk Merchant Account LLC.

Contact Us: If you are a federally licensed firearms dealer having problems getting approved for payment processing. We look forward to serving you.

High Risk Merchant Account LLC
915 Folly Road, Suite 49
Charleston, SC 29412
1-877 493-4622
https://hrma-llc.com
https://hrma-llc.com/firearms-merchant-account/

May 16, 2017

Understanding High Risk Merchant Accounts [Infographic]

What Is A High Risk Merchant Account

In today’s world, certain types of industries and businesses are considered as risky. If you are a business owner, you need to have a clear understanding about such businesses. In fact, you should get to know whether you are managing a risky business or not.

If your business falls into the category of risky ones, you will be turned down by some of the credit card processors. They would also tell that you are deemed by one of the high risk merchants. However, you don’t need to worry about anything when you come across such an instance in life. That’s because a large number of high risk merchant account providers are there to provide assistance to you.

What can make your business fall into the category of risky ones?

There isn’t a straightforward answer to this question because it depends from one business to another. Usually, a large number of factors would be taken into account before classifying your business into high risk ones. For example, if the industry that you belong is related to higher instances of fraud and chargeback, there is a high chance for your business to get categorized among the risky ones.

As mentioned earlier, the first thing you must do when understanding High Risk Merchant Accounts is to figure out whether you fall into the category of high risk merchants or not. It depends on the guidelines of the risk department. If there are strict guidelines, there is a high chance for you not to get approved. On the other hand, you will be able to get a merchant account created for your business when the guidelines are relaxed.

In case if the service provider you select specializes in high risk merchant services, you will not have to keep any doubts about the future. They will take necessary steps in order to get the approval for you. However, it is important to keep in mind that all the providers don’t specialize in high risk merchant services. They would still have relaxed guidelines, which can provide some sort of a relief for you.

What are the rates that you have to pay as a high risk merchant?

If you are a high risk merchant, you will have to pay considerably higher rates. You will not even be able to negotiate with the service provider because of all the pressure that you face because of your business type. However, it is important for you to go through your contract carefully before you sign it. A large number of high risk processors that offer unethical services are there and you need to be careful enough to stay away from them. That’s why you must pay special attention towards each and every part of your contract.

While going through the contract, you need to take a look at the other incidentals including the termination fees. This will assist you to stay away from frustration in the future.

Contact Us: To discuss getting a high risk merchant account for your business.

High Risk Merchant Account LLC
915 Folly Road, Suite 49
Charleston, SC 29412
1-877 493-4622
https://hrma-llc.com
https://hrma-llc.com/high-risk-merchant-account/

May 12, 2017

Credit Scores: Merchant Account

Personal Credit and Merchant Accounts

A line of credit that allows you to accept credit cards is known as a merchant account. Personal credit is of prime importance when you apply for a merchant account. However, it doesn’t have the same effect as it would on a conventional line of credit or a typical loan application.

Why Personal Credit Matters

When a merchant performs a credit card transaction, funds are transferred from the customer’s credit account to the merchant’s bank account as a compliment to the purchase contract. In the case of a chargeback, funds are removed from the merchant’s bank account and transferred to the customer’s account. If there are not sufficient funds available in the merchant’s account, the processor must reimburse the amount personally and collect it from the merchant. That is why personal credit of the merchant is important because. There have been some instances of fraud where the acquiring bank has been holding bills for thousands of dollars. This is why personal credit matters a lot and why banks review a business owner’s personal credit when considering the merchant account’s application.

Possibilities during the Application

During the application, your personal credit standing may affect the process in any of these three ways:

Poor Credit Standing – If your personal credit is poor, the merchant account application will be declined.
Marginal Credit Standing – If your personal credit score is marginal, you may be approved for the merchant’s account provided you agree to the stipulations of rolling reserve or ACH delay.
Good Credit Standing – If the credit score is good, the account will be approved.

The Strength of Credit

Your personal credit does not necessarily have to be perfect to get a merchant account. The strength of the personal credit depends on the type of merchant account you are applying for, the amount of processing volume, and the average ticket amount.

Personal Credit and Rates & Fees

Personal credit rating does not affect the rates and fees applied to the merchant account at all. Merchants of all credit ratings would get an account with the same rates and fees.

However, the overall cost and operation of the account may be affected if a rolling reserve of ACH delay is required.

Bad Credit & Existing Merchant Account

It is believed that the bad personal credit rating may result in the revocation of the existing merchant account. However, it is not true at all. Once you get a merchant account and start accepting credit cards, processors use your processing history as a benchmark, not your personal credit status.

How to Get Merchant Account with Poor Credit

If you are having a poor credit rating and want to get a merchant account, these are the things you can do to get a merchant account:

Register a Co-signer

Try to have someone onboard with better credit rating as a co-signer. In this case, the credit rating of co-signer is considered.

ACH Delays or Rolling Reserves

Another way to get a merchant account is by allowing the processors to impose ACH delays or rolling services on your account.

Please note that processors have varying requirements. Some may approve your account with marginal credit rating while others may ask for a perfect credit rating. Improving your credit rating is the key in every case!

Contact Us: To discuss your best strategy to get your merchant account approved with a less-than-perfect credit score.

High Risk Merchant Account LLC
915 Folly Road, Suite 49
Charleston, SC 29412
1-877 493-4622
https://hrma-llc.com

https://hrma-llc.com/high-risk-merchant-account/

https://hrma-llc.com/high-risk-ach-processing/

https://hrma-llc.com/high-risk-merchant-services/

May 9, 2017

Understanding Chargeback Alerts

Chargeback Alerts 101

Chargeback Alerts can be considered as the latest tool, which is being used to track and manage chargebacks in a convenient manner. If you are a business owner, it is important for you to have a clear understanding about Chargeback Alerts, so that you can incorporate them to your business if appropriate.

What exactly are Chargeback Alerts?

Customers who make payments using credit cards can open disputes due to many different reasons. These disputes are a frustration for the business owners. Chargeback Alerts can assist such business owners to stay away from frustration. That’s because Chargeback Alerts would notify the businesses immediately when a customer opens a dispute. Then you will be able to withdraw the disputed funds from the bank account of your business. In such an instance, the funds would be held until the dispute is resolved. In other words, you would be provided with time to prove that you received the funds via a legitimate sale. Or else, you can go ahead and provide a refund to the customer. This can assist you to stay away from significant losses in the long run.

Are Chargeback Alerts effective?

It has been identified that Chargeback Alerts are in a position to capture only about 40% of the total chargebacks. That’s mainly because these alerts are obtained directly from the bank of your customers. Only 40% of the banks have subscribed to the Chargeback Alert services. However, this concept is gaining popularity among banks and the probability of receiving Chargeback Alerts is expected to increase in the future.

What should you do when you receive a Chargeback Alert?

When a Chargeback Alert is received, you will only be able to provide a refund to the customer. However, there are some merchants who think of it as a warning, which is provided for them to work with the customer and resolve the dispute. However, such a situation is never going to work and it would be a good idea to offer a refund to the customer.

What is the role played by Chargeback Alerts?

When you go ahead and offer a refund to your customer, the chargeback process would be stopped. As a result, you will not receive any charges from the credit card processor. Or else, the funds would not be withdrawn suddenly from your bank account as well. Moreover, your credit card processor will not have to experience any negative impact. However, it is important to keep in mind that the Chargeback Alerts are not in a position to deliver the best possible solution to all sorts of businesses.

Contact Us: To discuss your best strategy against chargebacks. Protecting your payment processing and avoiding a merchant account termination is the key to continuity.

High Risk Merchant Account LLC
915 Folly Road, Suite 49
Charleston, SC 29412
1-877 493-4622
https://hrma-llc.com
https://hrma-llc.com/company-blog/

May 8, 2017May 8, 2017

Vacation Club Payment Processing

Payment Processing For Vacation Clubs Can Be A Challenge

What is Vacation Club?

Vacation clubs are slightly different than the timeshare. Vacation clubs are programs that provide you a place to stay during the vacation in selected resorts. On the other hand, for a timeshare, you have to participate in the program. With the starting price from $5,000 till $1 million. After you have registered, you can choose from the resorts where you will be staying. You have to pay for each residency.

Apart from this, you have to pay additional yearly charges such as membership fee or maintenance fees. There is two major distinctions between the timeshare program and vacation club. In timeshare programs, you usually own a certain resort for specified dates either:

A base week interval
Several one-week intervals.

Furthermore, most of the timeshares, contribute in exchange programs. You have the chance to exchange your intervals at other places and dates. This exchange must be within the exchange program. On the other hand, in a vacation club, you have no base interval for date and place. The duration and place depend on the amount of occupancy you buy. Your stay doesn’t have to be restricted to one week. You can visit for one or two nights. Moreover, some of the vacation clubs let you transfer or sell your membership. But in timeshares, you can get the membership of the club as a resale. In case you don’t buy the membership for resale, you cannot transfer your interest.

There are few vacation clubs that promise to give your initial payment back. They will be returning it at a set partial value or full value.

The Impact of New Regulation on E-Cig Merchants

From August 2016, the FDA of US started a new regulation. According to this, all the e-Cigarettes and vaping products will be regulated under the 2008 law. Previously, the 2008 law was used for regulation of sales of cigarettes. The Federal Drug Administration (FDA) will regulate the manufacturing, importing, labeling, packaging, and sale of the e-Cig.

This new rule indicates that every e-Cig and vaping goods must be approved. The manufacturers have to get the approval from FDA before selling goods in the US. It is anticipated that the consequence of this regulation will be severe for vaping and e-Cig producers. This will be difficult for the producers as every component of the product must be approved separately.

Moreover, the cost of obtaining an approval from FDA is approximately US $1,000,000 for each product. It is predicted that the variety of e-Cig and vaping products will be reduced sharply. It is believed this will happen in coming 3 years as the law will completely be in effect.

Effect of FDA E-Cig Law on E-Cig Consumers

Are you wondering what will be the effect on the consumers of FDA regulation? The impact on the e-Cig market of US will be substantial. As a result of the FDA regulation, the product range will be restricted. The total global demand of the e-Cig and vaping market is near $5 billion. The consumers demand by the US consumer is $2.4 billion.

Furthermore, if the prediction about the market will be proved right. There will be a huge decrease in the size of the vaping market. This will lead to a reduction in the availability of a number of a variety of products on US market. It is anticipated the producers will cut back from manufacturing new products. The reason is that the US consumers make up 50% of the global demand. As the products will need to be approved first, it will cost the manufactures plenty of money. So they will be stopping the production of such products.

Therefore, it is sensible to conclude as the regulation will take full effect. The number of products will be lesser in coming 3 years than available on the market today.

In the end, this regulation of e-Cig is being challenged in US courts. This is basically the extension of the FDA regulation related to cigarettes. In case these challenges are successful, there will be adjustments made to the regulations. The changes may reduce the obstacles imposed on the producer. They will be able to sell their products in US market but under certain conditions. This will lead to increase in the availability of the vaping products on the market. On the other hand, if the challenges are not successful, the products will be reduced in the coming 2 to 3 years.

Contact us if you are starting a E-Cigarette business and are in need of an e-cigarette merchant account, to accept payment from clients, such as credit card and ach processing.

High Risk Merchant Account LLC
915 Folly Road, Suite 49
Charleston, SC 29412
1-877 493-4622
https://hrma-llc.com

April 21, 2017

Start-Up: PC Tech Support Business

Starting a Remote PC Tech Support Business

People facing computer problems but not having time to take their computer to a repair shop can take the benefit of a remote PC support business. This is a business which eliminates the need of going to a repair shop to a significant extent by offering services through a remote connection software or over the phone. All you need is a computer, a dedicated phone line, remote connection software, and a tech support merchant account, to start this small business. Here are simple ways you need to apply to start your very own remote PC support business.

Services You Want to Offer

In the beginning, you have to decide what services you want to offer to your clients. This decision is based on your experience and computer certifications. You cannot offer support to Mac OS or Linux if you are experienced with windows. You also have to determine the number of hours you are willing to operate. However, you should consider establishing evening hours since people are at their homes in these hours.

Business Entity

When you have decided the services you are willing to offer, comes the need to decide the business entity you want to operate. A sole proprietorship is the simplest form of business entity. It can be very helpful to form your own business rather moving to the partnership. If you choose this form, you would be responsible for all the profits and losses you make.

Hardware and Software

In order to establish a remote PC support business, it is important to get all the required hardware, software, and services you need. You will need a high performance computer and two large monitors. The two monitors will help you to manage the connection to the client’s computer while accessing your local computer. You also need a high speed internet connection to ensure smooth functionality.

Set the Prices

Before setting the price for your services, it is advisable to visit the websites of your competitors offering the same services. You can take the idea about the charges that are being taken for the same services. It is a good idea to charge slightly less than the competition for your services.

Launch a Website

Starting a business without marketing yourself would bring no good for your business. A website is a good way to introduce yourself in the market. The website should have your contact information, operating hours, and the price of each service you are offering. There should also be a billing system to accept customer payments.

Choose A Merchant Processor

You will need to find a merchant processor willing to accept Remote PC Tech Support and your new business model. Finding A PC Tech Support Merchant Account Provider can be difficult, unless you are searching for a provider who has experience with your business type. Find a reputable processor, noted for accepting your type of business.

Advertise Your Business

The best way to advertise your business is by creating flyers and door hangers and distributing them around in the neighborhood. You can also place advertisements in the local newspapers and computer stores. Social media marketing is also a good way to increase your customer base. The more locations you advertise yourself, the better are the chances of getting business.

These are simple ways you can use to start your own remote PC support business.

Contact us if you are starting a remote pc tech support business and are in need of electronic payment methods to accept payment from clients, such as credit card and ach processing.

High Risk Merchant Account LLC
915 Folly Road, Suite 49
Charleston, SC 29412
1-877 493-4622
https://hrma-llc.com