Getting an internet merchant account is an ideal solution for increasing your sales because it allows customers to not only pay for goods and services with credit cards at your retail outlets but also order and pay for goods with the click of a mouse from your website or even by phone or fax. Before you can understand what a high-risk merchant account is, you must first understand what a merchant account is.
By establishing a merchant account, merchants can easily process a high volume of credit card transactions, reducing risk and increasing business growth. Diversify merchant account solutions make good business sense for high-volume eCommerce merchants in any industry or merchants in a high-risk category.
The use of a gateway that allows effective merchant account management. A robust gateway allows for the management of an unlimited number of merchant accounts from a single central control panel. Load balancing and intelligent transaction routing are managed by the merchant using velocity settings and flexible rule sets.
The ability to fine-tune the operation of all merchant accounts via a single interface is critical for long-term successful multiple merchant account management. With the right gateway, you can quickly adapt to changing business situations. The use of new patent-pending payment technology improves your competitive edge and increases your company’s profitability.
We at EskayPay provide intelligent processing solutions with our High-Risk Merchant Account to streamline business operations that produce outstanding results and financial victories. You eliminate unnecessary job duplication. Each day, you save hours of accounting and administrative time by consolidating reporting and account reconciliation functions. Increased productivity allows you to capitalize on new business opportunities.
5 Things to Think About When Choosing the Best Merchant Account for Your High-Risk Business:
- Your application requires the attention of a high-risk professional expert.
- Your high-risk merchant account processor should have previous experience working with merchants in your industry.
- The processor of high-risk merchant accounts must have access to a wide range of credit sources, including more liberal banks and offshore options.
- If your business has offshore edges, your high-risk experts must work to secure the lowest possible rate.
- Prior to entering into a contract with a high risk credit card processing company, all rates should be disclosed.
High-Risk Merchant Account benefits for High-Risk Business
- Intelligent Payment Routing: Working with various payment service providers to be able to use the most suitable one for a single transaction is what intelligent payment routing entails. All of this is for real-time transactions with complete transparency for the buyer.
To truly benefit from intelligent payment routing, we must first understand which transaction characteristics we may manipulate to choose which PSP to employ or to optimize a transaction for a certain PSP.
- Accelerate International Growth: Businesses have realized that expanding into overseas markets is a critical strategy for increasing revenue and profitability. Some businesses have even received more revenue from foreign markets than from home markets. As a result of their international expansion success.
It takes a lot of effort to expand a business into new markets. Whether a company is sketching out its first foreign business case or adding a new market to its existing portfolio, entering new markets can be plagued with uncertainties, dangers, and other roadblocks.
- Streamlined Operations: Because data entry and processing may be done automatically, streamlining software will likely reduce the amount of paper used in your office and unnecessary staffing. This will most likely save your company money, allowing you to invest in other areas.
When processes are easy. Employees have a better understanding of the daily responsibilities and expectations assigned to them. They are more likely to be productive. When there are no superfluous duties, employees will be able to focus more on the quality of what they are producing.
- Minimized Risk: Transparency is high in businesses with efficient operations. From a single location, it’s easier to track your employees’ progress and spot mistakes or missed deadlines. Streamlining assists the company in delivering a product or service to your clients on time.
Make Sure To Bring The PSP That Works Best For Your Business
Building and maintaining third-party relationships is critical for a successful business owner. One of the most important aspects of a successful expansion strategy is selecting the right overseas partners.
EskayPay is a renowned merchant account provider in the UK. With our High-Risk Merchant Account Solutions, merchants can control what information each level has access to. Merchants can manage and track all gateway processing transactions thanks to robust reporting. Permission access control is provided by multiple levels of authentication.