Posted by admin on Jan 11, 2016


Choosing the right payment processing company is vital to the success of your business. 

There are no shortage of companies willing to offer you payment services  While many promise to be able to get you the processing volume and accounts you need, the reality of the situation is often quite different.  

A common scenario is when a company says they can set up your account.  Then weeks lead to months and the account is still not approved.  

Or, the account is approved.  Then cancelled quickly because your type of industry is considered high risk.  Or you need to process more volume.  Or any number of other reasons that end up with you not having the processing power you need to grow your business.  This reality become obvious after the you've  spent time and money in having the merchant account set up.

In order to avoid the unpleasant prospect of changing the merchant account company due to unsatisfactory service or its ability to meet your processing requirements, it is essential to make sure that your first choice in payment processing companies offers you everything you need to be successful.  

Security and Fraud Protection

When it comes to online payments, few issues are as vital as that of security. This importance results from the private character of the information customers are expected to provide before and during the payment process. Fraud is frequently discussed in relation to large online retailers, but the truth is that all businesses, irrespective of size, are vulnerable to fraud attacks.

The report released by Javelin Strategy & Research illustrates to what extent micro, small, and middle-market businesses fall victim to credit card fraud. No less than 52% of middle-market businesses had to deal with losses that resulted from fraudulent transactions. Whereas large retailers will attract more fraudsters compared with smaller businesses, the latter will find it more difficult to absorb the costs associated with fraud.

A payment service provider will be able to address the risk inherent to online payments only if it implements the most modern and reliable security measures. This involves fraud protection and PCI DSS compliance. This way, customers can rest assured that their payment information is secure, while businesses will be happy to know that the losses due to fraud will be kept at a minimum level.

Flexibility and Reliability

High risk payment processing is in a category of its own because of the resources required to manage the risk efficiently. It goes without saying that few payment service providers have the necessary capabilities to navigate the intricate, constantly changing online payment ecosystem which can be even more challenging for some high risk industries.

Picking a payment service provider that is poorly prepared or unwilling to deal with the risks of your industry means that they may discontinue the service or ask for unreasonable, frequently hidden fees and rolling reserves.

The list of requirements is already getting quite long, but there are some other, equally essential characteristics a payment service provider must have. The integration of the payment platform on the website has to be based on a straightforward process. In order to make sure that as many customers complete their payments, 24/7 customer service should be available. The last, but equally important feature of the service offer should be chargeback management, as its absence can lead to unnecessary losses for the merchant.


Investigate your payment processing options carefully upfront.  High risk merchants in particular need to be sure that the processor can handle your requirements.

One of the smartest strategies high risk merchants can deploy is to have more than one payment processing account.  In this way, you always have the processing volumes you need to manage and grow your business.

Looking for a reliable high risk merchant account provider?   

Contact today.