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HIGH RISK PAYMENT PROCESSORS


HIGH RISK PAYMENT PROCESSORS

If you’re having a hard time finding a merchant account provider, then United
Banc Card of TN is the business for you. We extend credit card processing and
online payment services to businesses categorized as high-risk merchants.
Contact us today at (615) 476-0255 to sign up and be approved for a
high-risk-merchant account.


BUSINESSES CONSIDERED HIGH RISK

 * Adult Entertainment
 * Travel Agencies
 * Pharmacies
 * Telemarketing Merchants
 * Tobacco and Cigarette Sellers

 * Online Auctions
 * Debt Services
 * Collection Agencies
 * Online Dating Services
 * ISP and Hosting Providers






DEFINING A HIGH-RISK MERCHANT

Many high-risk merchants may not even be aware that their business is
categorized as risky. Some attributes that flag a merchant as high risk to
credit card processors are as follows:

 * The business is unregistered, or improperly registered, with local regulatory
   agencies.
 * Merchant agencies have banned the business due to fraudulent dealings or
   bankruptcy.
 * The merchant has an inconsistent credit history.
 * The business has a high sale volume with a large number of transactions,
   which creates a situation that is more susceptible to fraud.
 * Small businesses with insignificant sales volumes and fewer numbers of
   transactions can’t afford fraud screening software, leaving them vulnerable
   to attack.
 * The business has a high chargeback rate, indicating customers who are
   dissatisfied with products or services.





HIGH RISK MERCHANT ACCOUNTS IN NASHVILLE

In today’s increasingly digital world, businesses are constantly searching for
ways to expand their reach and boost sales. However, for certain industries
deemed high risk, traditional payment processing solutions can present a major
hurdle. High risk merchant accounts help businesses in sectors like adult
entertainment, online gaming, and pharmaceuticals. They offer specialized
services that meet the unique needs of these industries. With high-risk merchant
accounts, businesses can process payments securely and reliably. They also
create opportunities for growth and profitability. In this article, we will
discuss high risk merchant accounts and how they assist businesses in high-risk
sectors.


WHAT ARE HIGH RISK MERCHANT ACCOUNTS?

High risk merchant accounts refer to specialized payment processing solutions
for businesses considered to be high risk by traditional banks and financial
institutions. These accounts cater to industries that are prone to chargebacks,
fraud, or legal complications. High risk merchants may include online gambling
sites, adult entertainment platforms, CBD oil retailers, and e-cigarette
vendors.
High risk merchant accounts are important for businesses in risky industries.
They help businesses accept credit card payments from customers worldwide while
managing risks and legal issues. These accounts provide specialized payment
processing and enhanced security to help high risk merchants avoid chargebacks
and legal problems. Without these accounts, many businesses would struggle to
operate in today’s digital economy where credit card payments are common.


INDUSTRIES THAT ARE INHERENTLY PRONE TO CHARGEBACKS

Many high-risk merchants may not be familiar with the fact that their business
is classified as risky, which can have significant implications when it comes to
credit card processing. There are several attributes that credit card processors
use to identify high-risk merchants. Firstly, industries that are inherently
prone to chargebacks, such as online gambling or subscription-based services,
typically fall under this category. Additionally, businesses that operate in
countries known for higher levels of fraud are also considered high risk. 


CHARACTERISTICS OF HIGH-RISK INDUSTRIES

High risk businesses often come with a unique set of characteristics that set
them apart from traditional, low risk enterprises. One prominent characteristic
is a higher likelihood of chargebacks and fraudulent activities. Businesses such
as online gambling, adult entertainment, and pharmaceuticals are known to
attract customers who may be more prone to dispute transactions or use stolen
credit cards. These industries require special attention when it comes to
managing and mitigating these risks.
Another characteristic of high-risk businesses is their susceptibility to market
volatility and regulatory changes. Industries like cryptocurrency trading or
forex brokerage can experience sudden shifts in market conditions, causing
significant financial losses for both the business owner and the acquiring bank.
Additionally, the evolving landscape of legal regulations governing certain
industries presents a constant challenge for high-risk businesses. Staying up to
date with compliance requirements can be demanding but crucial for maintaining
longevity in these sectors.
High-risk businesses struggle to find reliable payment processing solutions
because banks see them as more vulnerable to risks. Regular payment processors
avoid working with these businesses due to legal and financial concerns.
Therefore, high-risk businesses need to find specialized merchant account
providers for sustainable payment solutions. By understanding the unique
characteristics of high-risk businesses and working with specialized partners,
entrepreneurs in these industries can overcome challenges and improve their
operations for long-term success.


CHALLENGES FACED BY MERCHANTS

High risk merchants may have to use specialized payment processors that charge
more and have stricter terms. They also face the constant risk of fraud and
chargebacks, which can hurt their reputation and profits. To protect themselves,
high risk merchants need to invest in strong fraud prevention measures like
secure payment gateways and monitoring systems.
Not following these rules can result in legal trouble and losing their ability
to accept credit card payments. This can make it hard for them to find another
way to process payments in the future. Being seen as a high-risk merchant can
cause many problems for their business.


BENEFITS OF HAVING A HIGH-RISK ACCOUNT

Having a high-risk merchant account lets you accept credit card payments from
customers who might not have been able to buy your products or services. This
means you can reach new markets and more people, which leads to more sales and
higher revenue. Another benefit of a high-risk merchant account is the extra
security measures provided by payment processors. High risk merchants often deal
with more fraud and chargebacks because of their industries. Payment processors
that specialize in high-risk accounts offer advanced security features like
fraud screening, real-time monitoring, and secure data encryption. These
measures protect your business from fraudulent transactions and give you and
your customers peace of mind.
Having a high-risk merchant account also offers flexibility in payment options.
As an industry-specific solution, these accounts provide customized payment
solutions tailored to fit the unique needs of each business. High risk merchant
accounts help businesses improve their payment processes and meet the needs of
different customers. They offer features like recurring billing for
subscriptions and multi-currency support for international transactions.


HOW TO OBTAIN A HIGH-RISK MERCHANT ACCOUNT

When it comes to obtaining a high-risk merchant account, the process may seem
daunting at first. To find a merchant account that fits your business, you need
to approach it correctly and understand the industry. It’s important to find a
provider that works with high-risk businesses. These providers know the
challenges and risks of your industry, which makes the application process
easier.
In addition, preparing your business for an application will greatly increase
your chances of approval. This includes gathering all necessary documentation
such as financial statements, business licenses, and any relevant legal
documents. It’s also important to be transparent about any past issues or
concerns that may arise during the underwriting review process. By being upfront
about potential risks or challenges, you demonstrate responsibility and
trustworthiness to potential providers.


Finally, it’s crucial to invest time in researching different merchant account
providers before making a decision. Not all providers are created equal when it
comes to expertise and experience in dealing with high-risk businesses. Look for
a provider that has a proven track record of success in acquiring accounts for
similar businesses in your industry. Additionally, take into consideration their
customer service reputation and their ability to provide ongoing support as your
business grows.
Obtaining a high-risk merchant account may require extra effort compared to
traditional accounts but finding an experienced provider who understands your
unique challenges makes all the difference.


TIPS FOR MANAGING A HIGH-RISK MERCHANT ACCOUNT

One of the biggest challenges of managing a high-risk merchant account is
dealing with the potential for fraudulent activities. To mitigate this risk, it
is crucial to implement robust fraud detection and prevention measures. This can
include using anti-fraud software that analyzes customer data and detects any
suspicious patterns or behaviors. Additionally, regularly monitoring transaction
activity and conducting manual reviews for high-risk transactions can help
identify and prevent fraudulent activity.
Another aspect of managing a high-risk merchant account is ensuring compliance
with industry regulations and standards. High-risk industries are often subject
to specific rules, such as PCI DSS (Payment Card Industry Data Security
Standard) requirements. It is essential to stay updated on these regulations and
take necessary steps to meet them. Failure to comply not only increases the risk
of fines or penalties but also undermines trust in your business.
In addition to fraud prevention and regulatory compliance, building strong
relationships with both customers and payment providers can greatly benefit the
management of a high-risk merchant account. Communicating transparently with
customers about security measures taken by your business instills confidence in
their transactions. Likewise, establishing open lines of communication with
payment providers allows you to address any concerns or questions promptly,
ensuring smoother operations for your high-risk merchant account.
Overall, effectively managing a high-risk merchant account requires meticulous
attention to detail, from implementing robust fraud prevention measures to
staying compliant with industry regulations while also fostering relationships
based on transparency and trust.


IS A HIGH-RISK MERCHANT ACCOUNT RIGHT FOR YOU?

In conclusion, determining whether a high-risk merchant account is right for you
requires careful consideration of several factors. While the higher fees and
stricter regulations may seem imposing, they can be outweighed by the potential
benefits that come with operating as a high-risk merchant. For businesses in
industries such as online gambling, adult entertainment, or CBD products, having
a high-risk merchant account is often essential for survival.
One key aspect to consider is the potential expansion opportunities that become
available with a high-risk merchant account. By accepting customers from around
the world and working with multiple currencies, businesses can tap into new
markets and unlock unprecedented growth potential. Additionally, with proper
mitigations and security measures in place, businesses can effectively manage
the risks associated with their industry while still reaping the financial
rewards.
Ultimately, whether you should opt for a high-risk merchant account will depend
on your specific business needs and goals. It is important to carefully evaluate
your industry’s level of riskiness and consult with experts in payment
processing before making any decisions. By doing so, you can ensure that your
business remains competitive and stands strong amidst any challenges it may face
in this rapidly evolving digital land.






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EXCELLENT
19 reviews on

Steve Kaatz
2023-05-15

Emily Cruz
2023-01-27
This is the most wonderful merchant service I have ever encountered friendly
kind and go out of their way to be helpful I appreciate everything that this
company has offered I would 100% highly recommend this company. Karl is the most
friendly outgoing and helpful person I believe I have ever met in a merchant
service company!!
Tim Olson
2022-05-19

Jarian Jones
2022-02-01
Karl has been great!
Mounir Kasawat
2021-12-18
I’ve had business with them since 2011, great customer service and will continue
having business with them.
javier montes de oca
2021-09-01

Tony Richards
2021-04-19

tiant lee
2021-03-30
Karl is such a great person to work with with setting up new systems. This is my
3rd time working with him and it’s always a smooth process.
Amanda White
2021-03-29

Devin Pickard
2020-11-10

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*All free equipment programs require a merchant processing agreement.
Additionally, the free POS program requires a service agreement.
See merchant processing agreement and service agreement terms and conditions for
complete details.

*Apple and iPhone are trademarks of Apple Inc registered in the U.S. and other
Countries. Apple Pay, Apple Watch, and Touch ID are trademarks of Apple Inc.

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