Recurring Billing Free Trial Credit Card Processor ProviderIf you run a business that deals with products like herbal remedies, free trials and products like anti-aging products, products for increased vitality, weight loss products. Or even if you have a business that deals with skin creams and beauty products or sexual enhancement products, you know that your business will always be under the scrutiny of the FDA.
Though the products may be in demand, most of the products come under the eye of the FDA. To meet the needs of potential customers you need to provide services that facilitate them in every way. This is true especially for clients with who you have continuity programs. Services could include providing them with multiple payment options like credit or debit card or online transactions as well.
High Risk Merchant Account Provider Options
To provide the above-mentioned services, you know that setting up a Merchant account is mandatory. But the products you deal with are constantly at war with the FDA and so are termed as High-risk products. And when it comes to the merchant account for high risk, most of the providers will decline your application almost immediately.
Luckily for you, we provide just the required service. Setting up merchant accounts for high-risk business is our specialty. Unlike local banks, we set up these accounts using a third party processor and offshore banks. Our business is based on the principle of transparency and simplicity. With clear cut directions to set up your merchant account, we also charge competitive prices. You can be sure of friendly support staff at our end, which can assist you in every way possible. Our acceptance rate of high-risk merchant accounts is extremely high, depending upon your personal business history.
High Risk Merchant Account Factors to Consider
While running a business involving products for skin and beauty, weight loss products, increased vitality, sexual enhancement and herbal remedies, there are some factors one must bear in mind. Whether your business is online or offline, along with setting up a merchant account, following factors must be remembered:
Virtual Terminal Free SetupCreating a virtual terminal is especially important for e-commerce website businesses which are on the rise. A Virtual terminal is important to facilitate customers to make transactions easily without a signature or even if card not present.
Physical TerminalIf you have the means to set up a business onshore, it adds to your business advantage. When customers can see the products in person, you can convince them of their utility and increase your business. This along with creating a physical terminal for card payments helps you increase customers, especially those who prefer payment via credit or debit cards etc.
Reduce Rate of Chargeback FeesWhen in business, chargebacks are a reality and must be accepted especially in business dealing with high risk products. What is important for the business owner is to continue dealing with them and keep the rates reasonable.
No Setup or Application FeesWhen looking for a merchant account provider, especially when early in the business, always choose providers that offer no setup fees or application fees.
Multiple Payment Method Credit Card or ACH/EChecksWhen you set up your merchant account, one must always set it up with a provider who gives you multiple payment options. In this way, if your customers wish to pay using any method whether credit card, debit card or any other mode they can do so. You can have a port for via Visa/Mastercard/Discover/Amex as these are the commonest options available.
Mobile App SwipersAnother hit way to kick start your business is by setting up a mobile app for your business like an e-commerce site. You can get a merchant account provider who provides you with the service. With iPhone/android mobile apps customers can view your products and purchase them, and also complete seamless payment procedure all by simply using their mobile app.
Multiple Underwriting Options and BanksWhen choosing a provider for your merchant account, you must always bear in mind to choose a provider that uses multiple underwriting banks. This comes handy at times when a bank for any reason stops processing your payments. Such a situation could bring your business down instantaneously. To avoid such state of affairs, opting for a provider with multiple underwriting banks is best as your business can continue to run.
Running a Successful High-Risk Business
Dealing with products like herbal remedies, weight loss products, beauty and skin care products as well as products for increased vitality and sexual enhancement is always a double edged sword. We know for a fact that these products have great demand in the market and if you provide portals online as well as in person, your business is bound to do well.
But the flipside is that these products always come under the FDA scanner and dealing with them has to be delicate. At the same time, providing the customers with various mediums of purchase is also essential. And so choose your merchant account provider wisely, who will not just help run a successful merchant account but also assist with allied services.