High Risk Merchant Account
High Risk Merchant Accounts can often be hard to obtain due to the nature of the business or business model. It is important to understand why the Merchant Acquirer may identify your business as High Risk. The normal reasons for this are:
- Industry Type
- Solar Panels
- Football Clubs
- Cosmetic Surgery
- Pyramid Sales
- Claims Management
- Warranty Sales
- Debt Collection and Payday Loans
- New to cards
- Prolonged fulfilment of goods, services or events
Whilst Beepay can not guarantee that you will be granted a High Risk Merchant Account, we can help identify why your business could be deemed as High Risk and assist with providing the Merchant Acquirer with a sensible way to mitigate against their risk exposure. Some Merchant Acquires will see High Risk Merchant Services as a financial risk where chargebacks may occur, whereas others may see the High Risk Merchant Accounts as a reputational risk to their business.
In order to resolve the financial risks, you must be able to consider the way in which you wish to process the credit or debit card payments. Processing payments on immediate dispatch of goods is ideal for mitigating against prolonged risk exposure. Whereas signing up to a recurring membership whereby the cardholder could misunderstand or become disinterested with the service could provide issues with future chargeback scenarios.
Whatever your business model, Beepay would like to try and assist with understanding your requirements and ultimately assist with progressing your business. There are a number of High Risk Merchant Services available and we are able to introduce you to these specialist services. In order for us to understand your immediate business requirements, please either complete the below form :