Merchant Stronghold, We have been helping merchants with Merchant Account Services for over 4 years. We have online merchant applications with instant approvals. Call a representative today to learn about the dozens of providers that we represent and see what credit card processing company is the best fit for your business. We can compare merchant account rates with you, answer questions about customer service, Interchange rates and more.
All kinds of financial institutions process money. And when it comes to processing money – they are obligated by regulators to classify merchants as low risk, medium risk and high risk merchants. Payment processor will never accept you when they think you process high risk and there are chances that they will lose money. And even if they accept you they will charge very high transaction discount rate. There are few reasons why your business can be considered as a high risk business.
With growth of use of technology, today businesses are collecting the payment of their product or services through card transactions. This method of collecting the payment is one of the easy ways to keep track of the balance of the transactions that a business do in on daily basis.But, this ease has some points where the merchant can do some errors while collecting the payment. One of the errors is multiple high-risk credit card transactions posted by the merchant on single account. This error can be caused by multiple transactions that were performed due to any error be it technical or be it human.
If you are willing to open an antique store, you must have a POS. POS is the payment service that high-risk credit card. Nowadays, antique stores have started accepting payment through cards. POS helps in analyzing sales, keep sales data up to the mark, manage invoices and send emails, protect the business from money laundering and so on.
Principal members of Visa, Master card brands are the banks or financial institution that are authorized to acts as “issuing bank” that is they can provide credit cards and can act as “acquirers”, means the financial institution that provide transaction processing services. The principal members are responsible to contact directly to the card brands that is VISA, MasterCard or others and settle the funds of those transactions.
Friendly fraud “ocurs when a consumer makes an online shopping purchase with their own credit card, and then requests a chargeback from the issuing bank after receiving the purchased goods or services.“
A good way to sell your services is by using a website for Credit card processing. Merchants can have more than one payment methods. A credit card is quicker and much safer than cash in hand. Money can automatically be send to your bank account. Multiple services can be provided on your website, such as point system or gifts for customers. Your Marine Credit card processing will be a part of a large network. A gateway having PCI compliance to provide you security benefits. We offer a number of options, such as American Express, Visa Card and MasterCard integration. Existing account holder can also get new features.
A Consumer can just walk in a store, make a purchase, swipe their credit card and an authorization is obtained. Magnetic strips and now EMV chips are issued on the credit cards. As a merchant, you should retain a signed copy of the transaction receipt. Example: Hardwood Store, Cakes Bakery, Landscaping etc.
Chargeback Analyst will analyze the effectiveness of the current chargeback reduction practices and work on implementing new parameters or new policies. New chargeback/fraud reduction initiatives and modifying existing tools and policies are suggested.
The responsibilities listed above do not supersede terms of the Merchant Agreement and are provided to ensure the merchant understands some important obligations of each party and that the Visa Member (Acquirer) is the ultimate authority should the merchant have any problems. The merchant agreement states the rules and responsibilities that apply to each party regarding payment card acceptance, authorization, processing and settlement.
Also known as Brick or Mortar types Merchants, it’s the Retails. They are categorized as low risk business mainly because retail businesses provide high level security to the customer as cardholder is present at the time of purchase. A Consumer can just walk in a store, make a purchase, swipe their credit card and an authorization is obtained.
All merchants require the capacity to process plastic card such as credit card payments and debit card payments. While many bail bonds organizations are “Cash only bonds”, this can discontinuation the process for clients, and it can magnify those who are in a hurry to free their loved one from custody. While plastic card payments leave a company at high risk for deceptive action, Merchant Stronghold has the best safety features to help you battle these issues. And while every fraudulent issue cannot be detected due to the ever-changing fraudster industry.
