For most businesses that have been labeled “high risk,” getting approved for a merchant account with traditional processors can be frustrating and headache-inducing. Our trusted, diverse portfolio of banking relationships gives us the flexibility and credibility to get you placed so you can continue growing your business on your terms.
For most traditional retailers, getting a merchant account can be as simple as calling the first processor you find. For non-traditional businesses a specialized merchant account is much harder to come by.
At SMB Global, we’re not like other companies. We take special care to understand and accommodate the unique needs of our merchants and industries we work with. We strive to be the single source of information for business owners to help them get approved, maintain their account, and start growing their business.
It can be very confusing for business owners when they are told their business is “high risk”. Often times a merchant is selling legal, legitimate products or services, yet banks and credit card processors tell them they need a high risk merchant account.
Some of the reasons a business might be labeled high risk include:
When an underwriter reviews your application, they are primarily focused on two things – that a large number chargebacks won’t go unpaid and whether or not they are exposing themselves to regulatory fines by the government, card brands, or sponsor bank for accepting your business.
You increase your approval odds by assuring the underwriter that you have cash in the bank, a stable, legitimate business model, and clarity about what you are selling. You also need to ensure your website has a secure (SSL), as well as transparent, prominently-displayed terms and conditions for products, services, and shipping process.
One of the greatest frustrations business owners face with their high risk merchant account is how much processing volume they are allotted. Just because you process $100,000 each month in credit card volume doesn’t always mean the underwriter will approve that amount.
Time is the ultimate remedy to getting your processing volume increased. Typically, 3 to 6 months of successful processing with low chargeback ratios, steadily increasing volume, and consistent transaction sizes will allow you to be re-reviewed for an increase in your monthly limit.
Our simple, painless application will help our high risk experts customize a solution for your business while saving you time and frustration.
Credit card processing is complicated, but we make it easy. We leverage our 20+ banking relationships and payments expertise to get your merchant account approved.
The high risk world is tricky, but we’ve done our homework and learned all the ins-and-outs. We take the time to walk you through your options and make sure you get the perfect solution.
ACH & DEMAND DRAFT
For businesses that offer subscription-based products and services or need to offer recurring payments for their customers, ACH offers a more seamless, secure solution than credit cards. Whether you’re looking for lower transaction fees, faster payment, or convenience for both you and your customers, our ACH platform offers simple, but effective ways to put your payments on autopilot.
CHARGEBACK PREVENTION SUITE
Excessive chargebacks can derail your processing before you even have a chance to get started. Our robust, chargeback prevention platform monitors your merchant account in real-time to help you battle chargebacks and win back more revenue.
Our automated, intelligent chargeback representment and CRM integration allows us to do the dirty work so you can focus on growing your business.
While factors such as poor business or personal credit, excessive chargebacks, and irregular or large transaction amounts can make it difficult to find a payment solution, most businesses are classified as high risk due to their industry or products and services they offer.
Traditional processors and banks believe these business types have a high rate of failure and generally shy away from approving them for merchant accounts. At SMB, we take on the risk that other processors won’t.
The world of high risk credit card processing can be complicated and creates a lot of hoops to jump through. Learn how finding the right payments partner can make the process of securing a merchant account much easier for your business.
When searching for the right high risk merchant processor to partner with, it’s important to make sure they’re equipped to manage your merchant account. Learn more about the high risk payments world to help you narrow your search.
PAYMENT GATEWAY SOLUTIONS
Maintaining a seamless checkout experience for your customers is not only important for business, but also for your security. Our high risk payment gateway options provide 175+ Online Shopping Cart Integrations for pain-free connectivity with most online shopping cart providers. For businesses looking for a more flexible gateway solution, our developer-friendly APIs give you full customization and control over accepting payments.
Because high risk businesses come in all shapes and sizes, SMB offers 2 gateway solutions – NMI and Authorize.net. Some of the benefits include:
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