As a high-risk merchant, you do not have many options for credit card processing. You have to take what you can get. There are providers of high-risk accounts and some are better than others. Some charge fewer fees than others do. Here is a general review of what to look for in the best high-risk merchant account providers.
How do you know you need a high-risk merchant provider?
If your business is high-risk you will probably find out simply by not being approved for regular merchant service accounts. Find a complete listing of high-risk companies online. Examples include adult entertainment, casino websites, vape shops, bankruptcy attorneys and furniture stores. Know How To Find High Risk Merchant Accounts For CBD Oil .
Furniture stores are high risk because they sell such big-ticket items. Bankruptcy attorneys often have good credit but their clients do not. That is what makes them high risk.
The best providers specialize in setting up accounts for their clients without expensive leases for processing equipment. While you may have to pay more to get credit cards processed through a merchant that specializes in your type of business, you should not have to get stuck in long-term leases. You also should not have to pay a lot more for the processing equipment. Shopify CBD Transactions – Is This Possible?
One company that gets consistently good reviews is Durango. This is because they have been around for almost two decades. They are known for their good rates, their honesty, and their dedicated customer support. You want to find a good provider with all of these qualities first and foremost.
This company does not set you up with expensive leases. They also offer a variety of terminals that you can buy. You can choose one from their website. There are both wireless and wired models. Some also support NFC payments. They offer choices for their clients. You need to have flexibility when choosing the equipment or manner that you will accept your payments.
Using wired equipment can be the least expensive route.
Using virtual terminals is convenient and often comes with lower fees per transaction. However, there are some limitations. Currently, there is only a Windows-based reader that Durango offers to customers. They do not sell POS systems.
If you can purchase or acquire your processing equipment before you get your service, this can save you money. You then just need to find a company that can accept your transactions through the processing machine.
One thing that the best-rated companies do not have that others do is independent sales representatives. They have an in-house sales and marketing team. They also offer excellent service, so if you have a complaint or issue, someone in the company is there to help you anytime you need it.
Before you go with the company, check their BBB rating. There are some really good high-risk processors out there but they may get complaints from time to time. As long as there are fewer than 10 in the past few years, you can have confidence in their dedication to customer service and quality. click on https://thesoutherninstitute.com/marijuana-credit-card-processing/ .