What is High Risk Payment Processing?
Some online businesses and industries are marked or labeled as risky and some of the most popular examples of these can be: forex, gambling, dating, adult, gaming and advanced bookings. To get the high-risk payment processing accepted you need to have an account as a merchant with an acquiring bank. Now, the merchants are classified as either a low-risk or high-risk.
Most of the banks will welcome you and offer you their services if you are a low-risk business but if you’re a business that is labeled as high-risk, you will find it difficult to electronically process payments since it will be hard to find a payment service provider simply because you’re a high-risk business having an unconventional processing agreement. Also, those businesses coming under the ‘high-risk’ category will eventually have increased processing fees as they will be threatened with elevated chargebacks possibility.
We at NationalACH:
At NationalACH, we welcome all types of merchants either be it a low-risk or high risk business because we provide payment processing for a wide variety of industry types. You will be able to get many features, some of them are: ACH merchant account, free application with no obligation, 24/7 customer support, identity verification to know your customer and accept payments online, phone & mail (MOTO).
At ACH, we believe that the more ways customers have to pay you, the more orders you will receive. According to most recent research, most Americans do not own a credit card and over 90% still use a back account. Processing payments through a bank account is the most convenient and effective way to get more customers order that don’t have a credit card.
How will I gain customers through eCheck processing?
At ACH, the high-risk processing is made easy as you have access to processing electronic checks which is beneficially for you because electronic checks can increase sales for the high-risk merchants. This payment process will also give you a streamline cash flow of your business with trusted payment methods. You will also have a competitive advantage to all those competitors who are not offering electronic check as a way to pay. One true fact about using electronic checks is that the rates when processing are rather lower as compared to using card payments.
The more payment alternatives you provide at checkout, the greater income you will be making. Electronic checks capture new sales from customers that don’t have credit cards or simply opt to pay via an eCheck. Including electronic checks as a payment alternative increases sales to 8-20%. Over 75 million Americans do not have credit cards. Electronic checks supply these customers a convenient, acquainted and easy method to shop for from you.
What exactly are Electronic Checks?
Payments are automatically debited from the buyers account and the funds are deposited into the seller’s account with the help of an Electronic check. Companies and businesses accept payment online, by phone, fax or mail through a single electronic check account.
Want to increase your sales? Want to give your buyers an alternative way to pay? Want to increase orders with fast approval and low rates? Then stop waiting and open an eCheck account with ACH now.