High Risk Credit Card Processing | HRMA-LLC
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High Risk Merchant Accounts
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HIGH RISK CREDIT CARD PROCESSING

We specialize in High Risk Credit Card Processing and merchant accounts for continuity offers. We approve practically every business type, even if you have been turned down for payment processing.With decades of experience, our team is here to help. Even if you have been shut down by your current processor, we have a solution for your particular situation. We’re available to answer any questions and provide ongoing continued support for our valued customers.

Don’t hesitate, call us immediately for assistance. Our dedicated staff is standing by to assist you. Our typical turn-around time is 3 business days and in some cases the same day. We look forward to working with you Apply Today.

What Is High Risk Credit Card Processing

Credit card processing companies treat businesses differently based on the degree of potential financial risk to their processor. Your business will be carefully judged and the processor will determine whether it falls into the “high risk” category and require a high risk credit card processing account.

Running a business today typically requires that you allow your customers the option of making payments with credit or debit cards. In fact, credit/debit cards processing are just about the only way you can get paid for your services if you’re an eCommerce entrepreneur. Though small businesses can get by with payment gateways like PayPal or Square, an upgrade to a full-service merchant will be required once your business reaches a certain size. While it would be great if credit card processors treated all businesses equally, the reality is they don’t.

Understanding High Risk Credit Card Processing

A common misconception about high risk credit card processing is that it is affected by the credit score of the business owner. While credit card processing companies consider a business owner’s personal credit score when they apply for a merchant account, it is not a primary factor that determines the business’ level of financial risk.

The industry type of the business is a major factor. But beyond that, every processor has its standards for determining whether a business is in the high risk category. While businesses related to drug paraphernalia or pornography will always be in the high risk category, the placing of others largely depends on the processor involved. Some merchant account providers apply very strict guidelines in determining the high risk status of a business, while others have more relaxed standards.

Since there are no strict standards that guide how processors determine businesses in the high risk category, how these high risk merchant account providers treat high risk businesses can vary widely. Most providers who focus on offering affordable merchant services simply do not work with high risk businesses, helping to lower costs for their clients and minimize their exposure to fraud. Other providers who accept businesses in the high risk industry will charge significantly higher fees due to the potential risks they could deal with by approving your merchant account application.

Factors for High Risk Merchant’sTo Consider

While there is no specific standard for determining the high risk status of a business, there are a few factors that processors use to determine whether a business is high or low risk. These include:

• High Probability of Fraud or Chargeback

If your line of business has a history of high rate of fraud or excessive chargeback ratio, the merchant account providers you contact will probably deem your business high risk too. These processors usually base their determination on the behavior pattern of your clients, not you as a person.

• Questionable Products or Services

This is one of the most important factors processors consider before labelling a business high risk. Businesses thatsell firearms, drug paraphernalia, adult materials and event tickets are the most obvious examples, but the high risk category includes many other industry types as well.

•Offshore Businesses

If your business targets customers in the U.S. but headquartered overseas, this could be a red flag. Though the fraud factor is still a major consideration here, factors such as lax banking regulations in the home country could determine the fate of the business.

• Bad Personal Credit

While the most of the standards for determining high risk status focuses on the business involved, the personal credit factor focuses on you, the business owner.If your personal credit rating is low for whatever reason, some processors will likely place your business in the high risk category.

• High Average Ticket Sales

Your business could be considered high risk if it routinely accepts unusually high cost credit card purchases. This factor typically affects businesses in the furniture industry and companies who manage loads of B2B transactions.

Getting a High Risk Credit Card Processing Approved

So, what do you need to get your merchant account application approved by a payment processor?Depending on your industry type, merchant services could have additional requirements, but there are essential steps you must follow to secure the approval of your merchant account application:

• The Bank Process

When payment processors consider merchant account applications for approval, their decision-making process must involve the bank, which may or may not work with businesses with high risk status. Factors such as high chargeback risks, questionable products and services or poor financials/credit rating may cause your business to be deemed risky. It would only make sense to work with payment processors that can guide you through the application process, help you put supporting documents together, and negotiate with banks for the approval of your application.

• Setting up the Payment Gateway for your Business

Following the approval of your application, it is expected that thehigh risk credit card processing company connects you with the best possible payment gateway or equipment that fits your business needs. Though the bank may impose certain restrictions, your business should be able to gain access to options such as online solutions or point of sale/terminals toensure seamless credit card transactions.

• Managing your Account

The payment industry is filled with processors with only little experience who claim to know the high risk space. Working with such processors can get your account shut down soon after its approval. But this can be avoided through the advanced monitoring of your merchant account. The decision ultimately rests with the bank to determine if your business is in the high risk category, and an application can be denied for any reason. Luckily, if you work with the right merchant service provider, the company can fight to ensure your account is approved.

Why Choose High Risk Merchant Account LLC (HRMA-LLC)

High Risk Merchant Account LLC (HRMA-LLC) is the perfect high risk business partner. We offer alternative payment solutions to high risk businesses that have been turned down by traditional banking partners. Our years of experience in the payment industry have exposed us to the ins and outs of high risk credit card processing, leading to our high success rate in the space.

HRMA-LLC offers multiple payment solutions designed to help both new and existing businesses secure credit card processing, effectively manage chargebacks, prevent fraud and process ACH. We provide a blend of premium services with pocket-friendly prices to further our goal of becoming the most reliable high risk merchant account provider in the country.

At HRMA-LLC, we realize that every customer is different, and so are their needs. This is why we work with each merchant and conduct a thorough analysis of their business to fully understand their needs before a unique processing strategy is designed. Our client-focused approach makes the merchant account application and approval process seamless and stress-free. You too can take advantage of our services as out online portal allows business owners apply for accounts to a wide range of high risk banks ready to approve their business type. We also provide updates on-the-go to ensure the approval process is fast and efficient.

• Managing your Account

The payment industry is filled with processors with only little experience who claim to know the high risk space. Working with such processors can get your account shut down soon after its approval. But this can be avoided through the advanced monitoring of your merchant account. The decision ultimately rests with the bank to determine if your business is in the high risk category, and an application can be denied for any reason. Luckily, if you work with the right merchant service provider, the company can fight to ensure your account is approved.

Closing Thoughts

If your business has been labelled high risk, you do not need to lose much sleep. While finding merchant service providers that are ready to work with your high risk business can be a challenge, there are actually processors who offer top quality services and affordable pricing.

When you’ve been turned down severally by different merchant account providers due to your high risk status, it can be tempting to be less than honest when submitting an application. Do not do this! You will inevitably get caught if you misrepresent the products and services you offer, and this can lead to the immediate shutdown of your merchant account. Not only that, but you can even end up on the Terminated Merchant File (TMF) list, making it more difficult for your application to scale through.

Multiple Processing Platforms:

  • Ecommerce Payment Gateways
  • Full CRM Payment Integration
  • Automated Recurring Payment Modules

Our Benefits:

  • SSL Secure Online Application offers fast merchant approvals.
  • Diverse Processing Solutions, include CRM Integration & Ecommerce.
  • Dedicated Account Managers to expedite the process.
  • Diversified Acquirers with appetites for the continuity space.
  • Fast Account Approvals – 99% Approved

Our Mission:

Our goal is to approve all merchants, regardless if you have been shut down or turned down in the past. We understand mitigating circumstances such as chargeback ratios and exponential monthly volume growth can devastate a bank relationship, causing a merchant closure or substantial holds place on an account to protect the bank from losses. We are dedicated to making every attempt to resolve issues and get your account approved. Our commitment to excellence and going the extra mile to exhaust every opportunity is our mantra. We strive to exceed expectations and utilize our expertise and competence to deliver unsurpassed customer satisfaction.

Our Commitment:

With our team’s unique experience in the payment space, we bring the vital expertise to get your account approved quickly and painlessly. Our staff is committed to providing unsurpassed customer service and strive for 100% customer satisfaction. Give us a call today to discuss all of your credit card processing needs.

GET STARTED TODAY !!!!!

At High Risk Merchant Account LLC, your business success is our ultimate goal. Our dedicated staff is standing by to assist you in navigating the payment processing space. With decades of experience, our team is committed to providing competent knowledgeable advice and a plan of action to get your merchant account approved quickly. Call us immediately to get on the fast track for High Risk Credit Card Processing approval. Our typical turn-around time is 3-5 business days and in certain cases the very same day. We look forward to working with you! Apply Online Today

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