B2B payments start-up PayMate acquires Zaitech

PayMate, a start-up in the business-to-business (B2B) payments space, has acquired Zaitech Technology, a digital lending platform, signaling its continued interest in the fintech sector.

Rajat Yadav, Founder, Z2P Technologies, said: “Technology and data-driven actionable insights for lending, along with machine learning, is what Z2P has built over the past few years.”

The data is gathered using proprietary analytics and AI technologies.

PayMate, which is backed by Lightbox Ventures, Mayfield Fund, among others, is riding the alternative lending wave sweeping the industry as a host of new start-ups are tying up with traditional financial institutions such as banks.

PayMate claims it has 20,000 registered businesses on its platform and this acquisition will help it reinvent its payment operations, cash-flow and access to growth capital.

As part of the acquisition, it gets a payment gateway, which can ensure visibility of cash-flow through the supply chain and on-time payment to SMEs by large enterprises. The firm also plans to partner with banks and NBFCs.

The emerging fintech sector has the blessings of the government and regulators. Recently, the GST Council announced its decision to offer 2 percent GST concession on digital payments. According to Abhishek Jain, Tax Partner, EY India, the move will help widen the tax base.

How To Accept Virtual Credit Cards For Your Small Business

When it comes to the credit card processing your business does have you ever considered using virtual credit cards? This is simply a digital number that represents a plastic credit card. With the right card, your customers can often decide in advance the maximum amount that can be charged to the card. They also have the ability to set an expiration date for the card so that it cannot be used for longer than one year. Many consumers are embracing virtual credit cards because it protects their real credit card number from most businesses.

Since consumers are getting in on the virtual credit card you might be wondering if your business can do the same. Protecting corporate credit card accounts is something that is now being accomplished with virtual cards. Many of the top credit card companies in the world are now using this technology to their advantage.

There is more than one use for corporate virtual credit cards. Businesses are now using them for employee expenses such as travel. They are also using virtual credit cards for invoice payments. These days almost 40% of all businesses that process payments electronically are using virtual credit cards for this purpose.

Depending on the size of your business it may greatly benefit from their use. Most small businesses are finding out that business credit cards give them fewer options than virtual cards do. Issuing a corporate credit card to eligible employees can be quite the undertaking but is made much easier with the use of virtual cards. They provide a great alternative to your employees using their own credit cards for business expenses and eliminate the need for them to submit paperwork to receive reimbursement.

Your business will have more control over its credit cards when you use virtual as opposed to corporate cards. When you have employees that can’t be trusted with a corporate card you can provide them with a virtual card that they won’t have the power to abuse. When your employees pay with a virtual card it automatically submits the information to your company, saving you time on paperwork. Virtual credit cards are especially helpful to your business if you work with independent contractors or freelancers.

Virtual credit cards will make payment processing easier for your business. They allow you to provide the best and most reliable merchant services to all of your customers and remain competitive in your industry.

Understanding Credit Card Processing Works For the Benefits of Ecommerce Businesses?

To face the fierce competition in the E-commerce market, every merchant needs an online payment gateway and online credit card processing that can help the merchant serve the increasing number of customers on a daily basis who like to shop online and use credit cards as a preferred mode of payment. To successfully run an e-commerce business, the merchant needs an online credit card processing that is effective and efficient in fulfilling its purpose.

Benefits of Online Credit Card Processing

IMPROVES ABILITY

To make the website visually effective, a merchant invests a lot of time and money. But most of the merchants do not consider it important to invest much time when it comes to payment processing. However, to improve online transactions for your E-commerce business, it is important to choose the right payment gateway. A system that enables the communication between the merchant processor. Also, a PCI compliant website to share customer’s payment details, bank account, and merchant processor. With this, a business owner can carry out transactions 24 hours, 365 days. The payment gateway is designed to handle data collection, encryption and secure transmission of data to the merchant account.

SECURITY

It is important for every online merchant to consider the security and stability as the key factor of their business. For the long run of business and retention of customers, a reliable online credit card processing service is a must. The technology that is used for security includes PCI compliance standards. This makes it very difficult for criminals to crack the code and obtain customers data. Therefore, the customers gain confidence to use their credit cards to make a payment without hesitation.

CONVENIENCE

The third advantage of online card processing that works in the favor of E-commerce business is speed and convenience of card processing. Unlike the traditional way of carrying out transactions, this is relatively faster and an easier way. With few mouse clicks and entering basic details of the credit card, the customer can easily buy products without wasting much time. If a merchant sets up an E-commerce solution through Host Merchant Services, it will allow the business to accept payments through Visa, MasterCard, and American Express hassle free.

ACCESSIBILITY

To smoothen the process and gain accessibility from any part of the world, online credit card processing service can be configured to facilitate merchant to access the merchant account at any time. No longer bound to geographical location and address of the store, it is easier for the merchant to control and review business transaction from any part of the world with an online access.

FLEXIBILITY

When an online business touches international boundaries, it becomes essential to have a payment processor that can accept major currencies. We, at Merchant Stronghold, create such an E-commerce solution to deal with a variety of currencies. No longer bound by geographical boundaries, limited currency acceptance; the sky is the limit for your E-commerce business.

MEET MERCHANT STRONGHOLD

For more than a decade, Merchant Stronghold has proven its worth by providing excellent customer services, resolving queries of clients. And, providing them with the best solution for the credit card processing. Go through the list of various options available, pricing, after sale service and compatibility before finalizing a payment gateway for your business. So, connect with our professionals now.

Asking Good Questions When Selling Credit Card Processing

If you are running a business of sales and purchases, you need to choose a new credit card processor. But it is not as easy as it seems, it is a big decision to make. Before making the decision, you must know it includes the fee charged and contracts. Also the customer service department and cost-effective tools available. Do the comparison, study the market and then make the final decision. Let us now discuss it further. 3 questions you should ask your new credit card processor before finalizing it:

Structure of Fee Charged

When you opt for such tools, you are charged with a certain amount of fee. But it is important to know what exactly those fees are, more commonly called breakage of the fee. The fact is that most of the high-risk merchants have no idea about the process and end up paying a high amount of fee without actually knowing the hidden high markups in their pricing structure. To process the transaction, an interchange part of pricing structure is paid to the card issuer. Apart from this, there is an extra fee that they put on the top of it to gain more profit. So, when you are applying for new credit card processor/merchant payment processor, request them to separate out the interchange fee so that you can have a clear idea about how much money they are making or charging you in total.

Contract and Time Duration

Whenever a merchant wants to opt for a new credit card processor, he/she needs to sign a contract, which will lock you with them for certain period of time. It is important for high-risk merchants to check for options when shopping around for new processor and also to finalize the processor with shorter time duration instead of multi-year contracts. The advantage of choosing a short-term contract is:

• They will work hard for your business to impress you so that you renew the contract instead of shopping for new credit card processor or merchant payment processor once the contract expires. If you end up signing a multi-year contract, you will soon be forgotten and ignored and service quality provided may deteriorate.
• In case of serious trouble when you have a short-term contract or non-existing contract, immediate help will be provided. Everything to resolve the issue so as to retain you as a customer. Whereas, if you have a long-term contract, it might take longer to resolve the issue you are facing.
• When you are not happy with the services provided by your current credit card processor, you can try out the new processor. They can meet your needs, but if you have a long-term contract, you only stick with the same provider until the contract expires.

Customer Service Department

Efficient and knowledgeable customer service department is like icing on the cake. Get the opinion of the current customers of the credit card processor. Also, find out about their experiences with the customer service department. Look for the processor whose,

• Support representatives are knowledgeable and can tackle any kind of issue if arises.
• Call waiting time is minimum
• Support representative should be able to resolve issues in the first call and in shortest time duration.

If you are lucky enough and end up buying a credit card processor or merchant payment processor for your high-risk business that fulfills all your needs and the fee charged is worth every single penny you pay, hold on tight to it and never let it go. If you are happy with the services provided and a fee charged, it would be a good decision to renew the contract with the same provider than starting the process all over again.

Opening a Bail Bonds High Risk Merchant Account Business

Merchant accounts for Bail bonds seem like a Mystery. Many discuss processing plastic card payments, however, it is a riddle to numerous in the business how they do as such securely, and without dread of conclusion. The result is easy: Merchant Stronghold. The bail bonds business is very rigid and tough, not only due to its customers but also due to its status in the processing business. While many bashful lefts from this industry, Merchant Stronghold welcomes it with open arms.

Merchant Account for Bail Bonds

Receiving a Merchant Account and processing of credit card payments for your bail bonds business, it can be very difficult.  Numerous Credit Card Processors don’t want to work with Merchant services of bail bonds businesses because of the high-risk environment of the service being provided.

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, Merchant Stronghold offers you chargeback insurance to help ease these fears.

Bail Bonds Merchant Account Business

In the event that you have a Merchant Account and are fulfilled, that’s great. That is incredible. Be that as it may, you should look at your choices from time to time. The processing business is constantly changing, and not all processors are up to date on the various payment forms that are available today.

From ACH debit charge to iCheck innovation, and BitCoin is in a process by many. However, not everyone agrees. The greater installment techniques you can acknowledge, the better your notoriety and the better you can serve your clients.

Meet Merchant Stronghold

The Merchant bail bonds business is similar to any other, and it depends on the ability to accept payments. With Merchant Stronghold, the application to do such is rapid and simple. And, merchants can see the acceptance in as little as 48 hours. This time period is inconceivable, yet it is an indication of Merchant Stronghold’s demonstrated commitment to its Merchants.

After the printed material is marked, you can be up and running is two or three days. This encourages you, and your clients, better the business Bail bonds involvement. It is something that no customer needs to do, however many winds up confronting a Bail bonds organization sooner or later. It is dependent upon you to make the procedure cordial and smooth, both through client service and payment processing.

If you own a Bail Bonds business and need to process your Credit card payments call Merchant Stronghold today. Merchant Stronghold has many minimal effort answers for your Bail bonds business. We work with many Bail bonds organizations everywhere throughout the United States. Merchant Stronghold will locate a minimal effort Merchant Account Processing solution for you.

Why Are Offshore High Risk Merchant Accounts So Popular

Internet was a revolutionary idea and till date, it is evolving. Not only for sending emails or social networking, it has also gained popularity in the field of E-commerce. When we talk about E-commerce, a couple of things strike our minds like credit card processing, data security, merchant account, etc. A merchant account is a necessity to accept card payments online along with reliable payment processors. While setting up online businesses, a merchant also needs to take care of these things but if a merchant is planning to grow his business and want to reach customers around the world, he needs to open an offshore account.

What Is An Offshore Account?

The term ‘offshore’ is basically used to describe banks from countries other than home country or foreign lands. An offshore account is like any other merchant account opened in any country other than merchant’s home country. The main benefits of an offshore account are the security and the option of accepting major currencies. It also helps the merchant in increasing revenue due to tax relaxation, provides greater privacy to merchants and helps in gaining more customers (major currency acceptance).

Why It Is Popular Among Merchants?

E-commerce and offshore accounts are highly linked as merchants, irrespective of their industry types. It aims at attracting a majority of customers and look for maximizing sale to earn good profit. To achieve this, the merchant needs to have a merchant account that accepts the majority of credit cards. But it is not that easy to open a merchant account, as it includes many requirements and lengthy procedures, which is not the case with an offshore merchant account. Most of the businesses like to maintain an offshore account as it provides many financial and legal advantages to its client.

Why Offshore Merchant Account?

Most of the merchants choose offshore accounts over merchant accounts for various reasons. Few of them are listed below:

• Hassle free procedure
• Low taxes/ tax relaxation
• Low initial costs
• International Reach
• Different currencies
• Major credit card acceptance

Why Are Offshore Accounts So Popular?

No matter how small or big business you own, any merchant can get an offshore account. Especially, merchants who are planning to set up an online business, irrespective of their size, prefer offshore account over merchant account due to low initial cost.

Every merchant running an online business wants to hit the international market at a certain point of growth. Offshore merchant account makes the acceptance of various currencies as well as credit cards much easier. Although, merchants who are dealing with local customers with the prime objective of capturing domestic market are not much benefitted by offshore merchant account as compared to the merchant targeting the global market.

Things To Remember

If you are searching for an offshore Merchant account provider, there are many providers available online. But it is completely merchant’s choice to decide which one is better for their business and which one will turn out to be more beneficiary. Making a decision and choosing a suitable offshore account provider is very important because benefits provided may vary from one provider to the other. So take your own sweet time to think, decide and choose the right one to enjoy the benefits of an offshore account.

Avoid High Risk Credit Card Processing Scams with Merchant Stronghold

‘FRAUD’, the word itself generates a warning sign to both customers as well as the merchant. According to recent studies, every fraud valued 1 dollar, costs merchant $2.40. The amount may seem less but has a huge impact on annual revenue.One of the main reasons for these frauds is the credit card processing scams. Credit card payment processing companies have noticed a significant growth of such scams among small or medium-sized businesses as compared to large industries. And, if these SMBs do not have sufficient resources to handle them, the impact of scams are much more significant. A major retail can bare the impact of the loss of a couple of dollars but it is not the case with small or medium-sized businesses.

Most Common Credit Card Processing Scams

Let us discuss in detail about the most common credit card processing scams and a few tips to avoid them.

Forced Authorization Scam

To complete the transaction when customer’s credit card is declined, the merchant can perform forced authorization. Now, to finalize the sale, where the merchant already remits good, forced authorization is conducted. To do so, merchant calls the issuing bank directly to obtain the authorization code when a card is declined and overrides it. Few things to remember while conducting forced authorization are:

• The customer might provide you with an alphanumeric code, which is not valid to override.
• If the authorization code is not valid or fraudulent, the merchant cannot file a dispute.
• In this case, the merchant will be subjected to chargebacks and a fine.
• Always allow card processing terminal to get an approval code.

Wire Scam

If the order placed by a customer is much larger than what merchant processes, beware, as wire scam might occur. It is a scam where customer overpays for the orders he/she has placed and asks the merchant to wire the exceeding amount to a third party. This third party is responsible for picking up ordered product from the merchant and delivering it to the customer who ordered it. To avoid wired scam, always remember two things:

1) Never accept excess money to be wired to a third party, no matter what reason may customer give.

2) Doing so can cost the merchant a fine and a fee for conducting fraudulent transactions.

Gift Card Scams

This is the most common scam and according to a recent study, 13% of the gift card frauds are by store employees and usually, they steal from already load cards. In totality, retails lose almost $70k annually from gift card scams. This includes:

• Skimming card number to create a fake card
• Returning stolen goods in exchange for gift cards.

TIPS TO AVOID CREDIT CARD PROCESSING SCAMS

1) To protect cards from theft and unauthorized use, implement security measures.

2) For all returns, request receipt and ID.

3) If it happens, refund the transaction immediately and do not give away the product.

4) For assistance on any suspicious activity, contact your payment processor’s risk department.

HOW CAN WE HELP?

Merchant Stronghold provides a payment processor for high risk merchants and has a well-qualified payment processor risk department, which can help you resolve issues with high accuracy and within time. Our experts are available 24*7, 365 days to take any credit card processor query. Just give us a call on +1(888) 622-6875

Offshore High Risk Merchant Accounts for Nutraceutical Products

For any E-commerce site, to accept payment by multiple means you need a proper payment gateway and a merchant account that supports your needs. Without a merchant account, you will not be able to accept payment via credit card or debit card. If you are finally looking forward to spreading your business worldwide, it is important to have the capacity to process such payments.

Nutraceutical products (commonly known as Nutra products) have formed a billion dollar market. Business dealing in such products is categorized as high-risk business and therefore most conventional banks and merchant processors will not provide services to companies like this.

Why considered as high risk

Nutra products include weight reduction remedies, anti-aging, and sexual enhancement products. Although it is a prize-winning industry, it is still considered high-risk because of the following reasons:

• A higher number of chargebacks
• Frequency of bankruptcies
• Customer Enrollment Cancelations
  

Benefits of Merchant Services for Nutra Product Sales

Some merchant account providers specialize in high-risk merchant account but charge the higher fee for certain accounts. There are few providers who offer customized end-to-end payment solutions, which are more beneficial for the merchant as compare to others. Some also offer to process for numerous currencies. For these and other reasons, it’s best to do very systematic research of merchant processors that offer merchant accounts for Nutra deals.

Several benefits of using the merchant account for Nutra product sales are:

Payment acceptance through various means: If you want to grow your business it is important to accept payments by multiple means. Customers feel comfortable if they can pay or choose the payment option as per their choice and convenience, for the products or services they require.

Acceptance of all type of credit cards: If you have a payment processor that works with all credit cards, the merchant can deal with people and companies all over the world and expand their business.

No volume limit: Merchant service provider can provide you with a payment system that does not restrict you from making business deals and financial transactions. Also, a system where you can carry out transactions without any interruption or issues.

Extra benefits provided by some of the merchant account providers:

• 24/7 technical support
• Fast set-up and approval in 24 hours (depending on Acquiring bank)
• No hidden fees in terms of Nutra Merchant Account Solutions
• Instant integration with the website
• Affordable data processing rates
  

How to Shop for Merchant Services

Despite the fact that there are more choices nowadays in the card preparing industry, as a result, finding the correct processor can be challenging. You will require one that addresses your organization’s issues, but that can take some time and legwork. Discover what different administrations they are offering, for example, online installment doors. You can also inquire whether they handle things like various monetary standards. Also, discover a processor that can make different Nutra deals and shipper accounts accessible to your organization.

Instructions to Work with Conventional Merchant Services Providers

Pay organization bills on time and keep financials in order. Give clients great services and make returning items simple and convenient. Nutraceutical related merchants who give genuine items at reasonable costs could hope to remain in business and expect outstanding income. Search for long-term solutions for your Nutra deals here.

High Risk Merchant Account Tips by Merchant Account Services

We Are providing High-Risk Merchant Accounts Tips If You have a Business, you need to know about Merchant Account and also need a good merchant account for record keeping to credit card processing and for the chargeback investigation, Merchant Account Maybe your good Friend or the worse enemy. A good Merchant account provider understands the issues that will arise in your business. If you want to sell something online you need both a payment gateway and a merchant account.

Merchant Stronghold offers solutions for high risk merchants like you. We know it can be a hassle to go from one bank to another to open a merchant account, only to find that you will not get approved for your application. Some organizations may be willing to accept you but there is usually a high price that comes with it.

Get a High Risk Merchant Account: It is always challenging to get a merchant account for a high-risk business. You may be searching for the best eCommerce merchant account provider but most of them will say no to you. However, there is always a possibility for Merchants to get a payment processing solution. In the next couple of hundred words, you will understand the ways to get the right payment processing solution for your high-risk business.

Below a few Tips Advice that can help your search

The First one is, High-Risk Merchant Account looks at their respect for your business. Not with all business, but by the tech support business. Some claim to work will all “high-risk merchants account, but that is not big issues that occur in every single business. While they are all under the same “high risk” Merchants, tech support businesses have different issues. Be sure to network with local tech support merchants to learn of their merchant account decision, as this can help speed up your search.

If you work a tech support industry you need good credit card processing at affordable charges. Unfortunately, there are not various merchant account providers that provide Indian, U.S. or U.K based tech support industry with merchant accounts, and even fewer merchant account providers that offer reliable credit card processing at affordable charges.

The second one is, ask questions, this may be a common understanding for the advice, but sometimes a merchant Provider is so rushed to Provide a merchant account that it is looking at Specific information, but does ask some questions. and the question is. Do you know your current processing fee schedule? if not, then you need to inquiries. Ask Questions. ask about Chargeback Insurance and inquiries. ask about the processing fee record, and if it rises when something arises in your industry. and Ask about termination charges. these things are very important, and they should be asked before you sign on with a merchant account processor.

Everything I know about a merchant account

If you need Merchant Account and If you are searching online for key phrases related to high-risk merchant accounts and provides of Visa, MasterCard, American Express, discover credit card processing services for high-risk business types and if you need some help. then you come to the right place #Merchant Stronghold. Almost everything you need to know about receiving credit cards in USA, UK, and Canada with a high-risk merchant account can be found here for our goal.

Are You Considered a High Risk Merchant Account In USA

When Merchant Business is established and Applies for a Payment Gateway At the Merchant Bank, They get approved or disapproved from the high risk departments considering the business to be high risk or Low risk business.

Some of the risk factors that make a business high risk area follow:

• You have lost your previous merchant account due to high chargeback ratio.

• Questionable sales and marketing tactics

• Potential legal and financial liability

• Your credit is really bad.

• The industry is known for excessive chargebacks or fraud incidents

• Trial continuity business

• Previous credit card processing is not good enough

• You’ve been branded as a terminated merchant (TMF).’

It is important to note, that this high risk merchant account categorized is based in your business industry. the high risk category includes businesses who have been dropped by a previous credit card processor, businesses that are on the MATCH or TMF list, companies whose owners have bad personal credit or low credit scores, or businesses who are based outside the US.

About High Risk Credit Card Processing

The first thing that you need to understand is that while one provider might consider you high risk business another may not. It all depends on their risk department guidelines. If the guidelines are strict, then you won’t get approved. If the guidelines are relaxed, then you’ll have yourself a merchant account. It’s that very simple.

Why Are You Considered High Risk

That depends. There are a number of reasons why a provider would consider your business as high risk business. Maybe your industry is known for having a high instance of chargebacks or fraud. Maybe you have bad credit.

Some examples of high risk industries include:

• Document Preparation

• Downloadable Software

• Educational Software

• Electronics Business

• Extended Warranties

• Financial Aid Consulting

• Financial Services

• Fine & Cosmetic Jewelry

• Insurance Providers

• Magazine Subscription

Common High Risk Industries:

High Risk business with bad personal or business credit scores, a high chargeback history, a startup, or high frequency or high average tickets can be considered high risk on an individual basis, the majority of high risk businesses are labeled as such by the industry they operate in.

Merchant Stronghold Is The High Risk Merchant Services Provider

Introduction To Merchant Stronghold

Merchant Stronghold is Headquartered in Clearwater, Florida. It provides credit card processing services for businesses of all sizes. Voted the #1 High-Risk Merchant Services Provider in 2015, and 2016. Merchant Stronghold specializes in high risk and offshore merchant accounts. Our all-in-one merchant accounts include everything that a high risk or offshore merchant’s needs to process successfully.

Processing Includes debit and credit card processing, check processing (ACH), payment gateways, and charge-back management services. We help businesses to accept their payments from anywhere, as you are getting POS Machine services, Virtual Terminal, Online Settings to integrate that in your website so that customers can pay on there on. Our services are available via an easy online application. So click on the link and get yourself started NOW.

High-Risk Merchant Specialists: We’ll get your high risk or offshore business processing right now with Merchant Stronghold’s fast processing system and keep your processing better than anyone else in the market.

Here’s how Merchant Stronghold can tangibly help your business:

• We Get You Approved: Our 12 processor relationships ensure 98.7% of accounts are approved and get you start your business as soon as possible.
• We Get You Setup, Fast: Same day approvals & included gateway integration means you’re ready to take payments faster, without waiting for that big queue.
• We Minimize Your Chargebacks: Our in-house chargeback management tools can lower chargebacks by 72%, so that you can concentrate only on increasing your business outcome, rather than having tension about your chargebacks.

Let's Understand The High Risk merchant

When Business is established and applies for a payment gateway at the Bank, they get approved or disapproved from the risk departments considering the business to be high risk business or Low risk business. There are few reasons why any business can be considered as a high risk business.

Lets Understand The Low Risk merchant

Its essential to understand about your business whether it comes under Low Risk Category before you apply it at the bank for a merchant Account because merchants in our payment processing world are categorized under low-risk, medium-risk, and high-risk categories. There are a number of points or reasons concerning which any business can be classified as Low Risk or high risk or medium risk Business and for an example while reviewing the business it is reviewed that how much risk is involved in the business, what is their risk level, which is the country wherein they got incorporated and their processing history etc.

Direct Marketing High Risk Credit Card Processing In USA

Merchant Stronghold provides credit card processing gateways that are tailored for your direct marketing business. Grow your Direct Marketing business by providing multiple payment options to your customers.

Efficient Front-end Systems and Credit Card Processing Gateway to integrate with Stronghold’s gateway API and be able to provide instant successful transactions are important, especially for a Direct marketing System. Stronghold’s credit card processing gateway not only accepts payment but also compiles reports so that merchants can keep records of transactions. Many companies these days promise to deliver these efficient systems, but most of them focus on providing fancy systems rather than better security. Merchant stronghold on the other hand not only have the most secure and solid gateways available but also close all loopholes that can harm payment system of your direct marketing business.

Rather than using physical terminals, your customers can use secure online gateways for making transactions. There are many advantages; business gets daily batch reports, multi-batch reports, decline reasons, successful transactions, refunds, sorting last 30 days transactions, and much more. All these can be done using your personal or business computer. The Gateway also captures the IP Address and reports it in the system using the iSpyFraud Technology.

Online Payment Gateway

Our virtual gateways can make credit card processing money saving, which means your business pay less amount to process transactions. Merchant stronghold makes sure that every transaction is secure.  In order to provide better direct marketing gateways, we have set ourselves apart from our competition. We offer services that are tailored to your business – A glimpse of our methods:

Safe and Secure Processing: All the credit card processing transactions go through multiple secure servers means no data is stored on your business computer. This makes direct marketing processing safe and secure.

Customer Support: The first thing that any business should focus on is better customer support. Our team is available to help you deal with any payment issue. You can contact us and discuss issues and they will be resolved timely so that your direct marketing business thrives.

eChecks: Gateway allows you to accept checks too! Accept Credit Cards and eChecks in the same Gateway.

Flexible Settlement Times: The business can customize or set a certain time for the transactions to be batched out and be sent out for settlement.

Multiple User Access: Our direct marketing credit card processing gateways give users multiple options. Your customers get email receipts at the time of processing. This ensures that transaction is authentic and quick. All the records are kept for future references.

ISpyFraud Technology: ISpyFraud Technology helps to monitor and capture customers IP address at the time of the transaction. Geo Locations and IP Address helps reduce online fraud and is the first choice for a direct marketing business when it comes to accepting credit cards. Don’t let your merchant face the risks of accepting payments without adequate protection. Get in touch with our to learn more about how to help your customers guard against fraudulent transactions.

If any of your transactions are face to face, then you are not providing enough options to your customers. We can offer your customers easy and reliable options that will suit their payment method. Ever transactions made through our systems will be safe and your customers will get notification of their recent transaction. What is the best part of all this? You are paying less money and getting premium credit card processing gateway.

How to sign up for getting your merchant account?

It is quick and easy! Start an online application or call one of our merchant specialists will walk you through the process. We offer various services and based on your requirement, we will provide a payment solution that will best suit your direct marketing business.

Offshore High Risk Merchant Account Underwriting Process In USA

It is important to open a merchant account to carry out financial transactions especially if your business requires a payment gateway through which you can accept payment by multiple payment methods. To acquire a merchant account you have to first find a card processor, which meets your needs and provides you services at a reasonable price. When you apply for this account, you cannot get started by just filling an application form. The application (in turn your business) has to go through a wide analysis process. This process is called merchant underwriting.

A team of high-risk analysts or an individual analyze your business to find out any type of risk, and according to this analysis your application is either approved or rejected. This whole process might take a day or two, depending on the provider you choose. There are alternatives to this, which will take lesser time for approval, as those alternatives do not require underwriting, but they have their own drawbacks due to which they are rarely recommended.

Merchant Underwriting Process

A merchant account is basically a line of credit. In case of chargebacks, the amount is deducted from the merchant's account, but if there are not enough funds in the bank to pay for chargeback then the provider pays that amount right away to the customer. So the essential part of underwriting is to evaluate the risk level of merchant’s business. Following are the things that provider review:

Industry Type: Risk is involved with every kind of business but the level of risk varies from business to business. Few businesses are less inclined to fraud and chargebacks as compare to others. Higher the level of risk, higher the amount of documentation is required.

Return Policy: Businesses that are involved in shipping products are riskier because there are chances of the products not being delivered, wrongly delivered or delivered broken that might result in chargebacks.

Business History: If you are not new in the market and have applied for the merchant account, underwriting will involve reviewing of your credit history as well as chargeback history (to know chargeback ratio) before approving or rejecting your application.

Card Acceptance Method: Provider will like to know about merchant terminated file if your business has been or still is on it. Most of them will evaluate current statement to get a fair idea of volume and acceptance methods. In case the application is approved, business accepting telephonic orders or online orders is taken into consideration for added features and more security measures.

Processing Limit Request: Depending upon your requirement of regular processing, limit of your account should be set up. If there is no requirement for high limits, do not settle with such account. The provider should set your limits at a medium level that would allow processing on a regular basis not leaving much room for fraudulent charges.

Financial Stability: To check the financial stability, underwriting may include your bank statement and credit. This is very important for the businesses while applying for a new merchant account, as it directly affects the decision of underwriting approval.

After Effects of Poor Merchant Underwriting

Your high-risk business may suffer from one or the other reason even without in-depth analysis and these are:

Incorrect Limit: You should set limits for your business as per requirement. It should not be too high or too low, as both the cases will end up in putting your business in the problem. Limits lower than required will hinder the regular processing of transactions that may constrict the flow of cash or timely payments from the customer, whereas if the limit is too high, this may lead to unexpected fraudulent charges.

Hidden Fee: An additional fee is charged if the volume exceeds the limit. However, even if you have set your limit, some providers let it exceed without notification and charge you with the penalty.

Downgrades: Once your high-risk merchant account is set, you are inclined to transaction downgrades if certain required features and security measures are not set along with the account. Although, setting up these features will cost you more, but will help you in long run and enable smooth processing of transactions.

A High Risk Merchant Account for Tech Support Merchant Account Business

How Technical Support Merchant Account Services Work?

When I started my research for this business, I communicated with a number of people whom I thought might have some practice in managing such merchants, and what I heard from them didn’t precisely come as a surprise to me. Most of my contemporaries warned me that such businesses could be very difficult to work with — that their company practices were doubtful, that they could infrequently doctor the required paperwork, that their chargeback ratios were sky-high, and that customer objection levels were off the chart. “Where have I heard that before?”, I wondered, and my initial practice rapidly confirmed the authenticity of these warnings. However, I had the good fortune to quickly stumble upon a merchant who turned out to be hardworking, trustworthy and legit. He also ensured low levels of customer complaints and chargebacks. Equally important, the volume per month was extravagant— about $500,000 and still continues to grow.

Finding the best payment processing solutions can be difficult for tech support merchants operating internationally.

Whether you offer remote tech support assistance or in-office computer services, Merchant Stronghold provides customizable merchant accounts. For tech support businesses with Merchant Stronghold, you will be connected to a vast network of domestic, offshore and international acquiring banks that can approve you regardless of your geographical location.

Tech Support High Risk Merchant Account Fees

Our tech support merchant account fees are competitive and affordable, and our application process is free. Once our underwriting department matches you with one of our acquiring banking partners, the bank will then process your application and determine your merchant account fees.

Since banks determine fees on a case-by-case basis, we cannot provide you with exact fees until the underwriting process has been completed. However, you can contact us for your free quote.

How to Get and — More Importantly — Keep a Merchant Account Live

There was this particular merchant based in the U.S. and, by the time it contacted us, it had gone to some of the biggest U.S. processors to open several merchant accounts, a couple of which are still active. Now, this is one of the biggest mistakes that merchants must not make —opening several merchant accounts at once, and not keeping them live. If it’s done otherwise, processors get nervous and understandably so —the new Merchant Account You are applying dormant is either closed down or replaced. In the event, we asked our merchant to explain why it had gone through the pain of opening these many merchant accounts and received a satisfactory explanation, which is not a typical scenario. I should also add that the merchant had already received notices that its remaining two accounts would be closed within a month, which brings me to the next lesson — if you operate an online tech support business, the mainstream processor would not be a viable option — even if you do manage to get an account with them and keep it functioning, it is inevitable to keep it running. As soon as the processor’s risk department takes a close look at it, it will shut down in a second. What you need is a high-risk solution, although not necessarily an offshore one.

Merchant Stronghold’s Technical Support Checklists’

Merchant represents and warrants each of the following by checking it and signing below:

Merchant is engaged in the business of offering technical support services and has obtained, and throughout the term of the agreement will maintain all local, state, and federal licenses, registrations, and approvals required to conduct such business. All technical support services for which Merchant services charge any customer will be provided only by the Merchant, and will not be referred, re-directed, or outsourced to any third party.

Merchant understands, currently fully complies with, and during the term of the agreement, will fully comply with all relevant provisions of all of the following as amended from time to time: section 5 of the Federal Trade Commission Act, 15 U.S.C. §45;

The Telemarketing and Consumer Fraud and Abuse Prevention Act. 15 U.S.C § 601, et seq(“TCFAPA”) and all regulations implementing the TCFAPA including without limitation the Telemarketing Sales Rule, 16 C.F.R. §310.1, et seq.,

The Telephone Consumer Protection Act, 47 U.S.C. §227, et seq. (“TCPA”) and all regulations implementing the TCPA including without limitation 47 C.F.R§64.1200, et seq.;

The Electronic Funds Transfer Act, 15 U.S.C §1693, et seq.(“EFTA”) and all regulations implementing the EFTA including without limitation Regulation E,12 C.F.R. §1005.1, et seq.:

The electronic signatures in global and National Commerce Act, 15 U.S.C. §7001, et seq.; and all other applicable federal, state and local laws, rules and regulations including, without limitation, those referring, relating or operating to the foregoing, consumer privacy and protection, credit , lending, finance, usury, and banking, and with the Rules (as defined in section 1 of the Agreement)

Merchant will immediately notify MSH and Bank in writing of any inquiry, investigation, complaint, charge, subpoena, claim, request for information, judgment, injunction order, cease and desist order, any similar judicial, quasi-judicial, administrative, or executive order, or any license or permit revocation or cancellation by any local, state or federal law enforcement or regulatory agency, entity, or official in connection with or relating to Merchant’s business including withoutlimitation of any complaints, charges or claims against Merchant by any customers of Merchant or by any local, state or federal official.

In addition to the indemnity obligations set forth in the Agreement, Merchant will also indemnify MSH and Bank, harmless from and against any and all losses, costs, liabilities, damages and expenses (including attorneys’ fees and collection costs) resulting from or incurred in connection with any inquiry, investigation, complaint, charge, subpoena, claim, or request for information of or against Merchant, or against or involving MSH or Bank in Connection with Merchant,

by any local, state or federal law enforcement or regulatory agency in connection with or relating to Merchant’s business including without limitation of any complaints, charges or claims by any customers of Merchant or by any customers of Merchant or by any local, state or federal official. Merchant understands that MSH or Bank may terminate the agreement effective immediately in the event of any breach of this addendum or as otherwise set forth in the Agreement.

3 Questions to Ask When Choosing a Credit Card Processor

If you are running a business that deals with sales and purchases, there might arise situations where you need to choose a new credit card processor, but it is not as easy as it seems. It is a big decision and before making a final call you should be aware of certain things, like Fee charged and contract, customer service department and cost-effective tool. Do the comparison, study the market and then make the final decision. Let us now discuss the 3 questions you should ask your new credit card processor before finalizing it:

Structure of Fee Charged

When you opt for such tools, you are charged with a certain amount of fee, but it is important to know what exactly those fees are, more commonly called breakage of the fee. The fact is that most of the high-risk merchants have no idea about the process and end up paying a high amount of fee without actually knowing the hidden high markups in their pricing structure. To process the transaction, an interchange part of pricing structure is paid to the card issuer. Apart from this, there is an extra fee that they put on the top of it to gain more profit. So, when you are applying for new credit card processor/merchant payment processor, request them to separate out the interchange fee so that you can have a clear idea about how much money they are making or charging you in total.

Contract and Time Duration

Whenever a merchant wants to opt for a new credit card processor, he/she needs to sign a contract, which will lock you with them for certain period of time. It is important for high-risk merchants to check for options when shopping around for new processor and also to finalize the processor with shorter time duration instead of multi-year contracts. The advantage of choosing a short-term contract is:

• They will work hard for your business to impress you so that you renew the contract instead of shopping for new credit card processor or merchant payment processor once the contract expires. If you end up signing a multi-year contract, you will soon be forgotten and ignored and service quality provided may deteriorate.
  
  
• If any serious problem arises and you have a short-term contract or non-existing contract, immediate help will be provided to resolve the issue so as to retain you as a customer, whereas, if you have a long-term contract, it might take some time to resolve the issue you are facing.
  
  
• If you are not happy with the services provided to you by your current credit card processor, you can try out the new processor, which can meet your needs, but if you have a long-term contract, you have no option than sticking with the same provider until and unless your contract expires.

Customer Service Department

Efficient and knowledgeable customer service department is like icing on the cake. Get the opinion of the current customers of the credit card processor and find out about their experiences with the customer service department.Look for the processor whose,

• Support representatives are knowledgeable and can tackle any kind of issue if arises.
• Call waiting time is minimum
• Support representative should be able to resolve issues in the first call and in shortest time duration.

If you are lucky enough and end up buying a credit card processor or merchant payment processor for your high-risk business that fulfills all your needs and the fee charged is worth every single penny you pay, hold on tight to it and never let it go. If you are happy with the services provided and the fee charged, it would be a good decision to renew the contract with the same provider than starting the process all over again.

13 Tips To Guard Your High Risk Merchant Business Against Chargeback

For many small businesses that accept credit cards, chargeback is way costlier but there are ways where you can protect your business against those unfair chargebacks. Before going further, let us understand what is a ‘Chargeback’?

Chargeback 

A chargeback happens when a customer after purchasing a product, contact to his/her card issuer to dispute the charges. In simple words, when a customer purchases a product and due to some reason disputes a charge with his/her bank, the money is returned to that customer as well as he/she gets to keep the product. But the bank charges the business owner, from whom the product was purchased. This payment, which the business owner gets to pay to the bank, is called the chargeback.

Here are few tips that can help you prevent chargeback and minimize the time and money spent while dealing with it. Being business owner you should understand that disputes could be considered valid due to many reasons. Customer may dispute charges if:

• A hacker using the customer’s identity made the purchase illegally.
• The wrong item was received.
• The product was adulterated
• The customer does not recognize the charge on his credit card statement.
• The customer was billed incorrectly.
• Let us now discuss few tips which can help you in preventing a chargeback.

Declined authorization: If the authorization request is declined once, do not go ahead with that particular transaction instead ask customers to opt for different payment method. Also, keep in mind not to request multiple authorizations for a particular transaction.

Authorization code: There will be cases when word “Call” is displayed on your terminal while authorization is being checked. At this point call the credit card company right away. The representative will ask you a few questions and may speak to its customer as well. After that he/she may or may not provide you with an authorization code. If the authorization code is provided, record it else request the customer to try a different card.

The system not working: There can be cases where the system is not functioning properly or the card is worn out. At this point, you should key-enter the credit card number, and also remember to make an impression of the card for keeping the record. This is important because a customer’s signature is not enough to protect you from a chargeback.

Gift card: Gift cards are unembossed cards and there is no way to take a manual imprint of it. In case customer wishes to pay by gift card it is advisable to ask the customer for a different payment method.

Signature: Regardless of the type of the card used for the payment processing, the signature of the cardholder on the receipt is mandatory. This can be used as a proof that the customer made the purchase himself.

Swipe only once: You should swipe the card only once to avoid duplicate transactions, which can lead to a major chargeback. If such situation arises, write “VOID” in bold letters on the customer’s receipt and tear it in front of the cardholder.

Record keeping: To avoid duplicate transaction chargeback, make sure that you deposit only one copy of sales receipt. Be cautious about recording sales; do not record the same transaction more than once.

Clear communication: Clearer is the refund and return policy, better will be the communication and it will protect you from chargeback as well. As far as refund policy is concerned, it is better to print it on the receipt directly. If not possible, stamp it near customer’s signature.
Receipt deposit: To avoid chargeback, deposit receipts as soon as possible. Make it a point that all the receipts are deposited within a day or two.

Cancellation request: It is a good practice to honor all customer requests to cancel recurring billing and provide them with a written statement for the same with a date on it. Delay on it can put you at risk for a chargeback.

Unexpected Delay: If, due to any reason, there is a gap between the time payment was made and the time when the product was delivered, it is advisable to inform the customer about the same in written and if possible, also let the customer know the new expected date.

Out of stock: If in case, the product is out of stock or unavailable due to any reason, it is important to intimate the customer about the same and asks them whether they would like to cancel the order or would like to purchase another item instead. Keep in mind that without customer’s permission do not send any substitute product. This will help in reducing chargeback risk.

Shipment: Never deposit the money you have charged from a customer before product being shipped to the customer. Streamline shipping process in order to get the product out to the customer as quickly as possible. There are chances of a customer getting upset about paying before receiving the product.

Are You Considered a Low Risk Merchant Account In USA

Understand the Low Risk merchant

Low Risk Category before you apply it at the bank for a merchant Account because merchants in our payment processing world are categorized under low-risk, medium-risk, and high-risk categories. There are a number of points or reasons concerning which any business can be classified as Low Risk or high risk or medium risk Business and for an example while reviewing the business it is reviewed that how much risk is involved in the business, what is their risk level, which is the country wherein they got incorporated and their processing history etc.

Features of a Low Risk Merchant Account

• Merchant account to accept ACH, eCheck and credit card payments
• A merchant account that provides an opportunity for real-time processing of payment
• Merchant account for secure and easy processing of payment
• Merchant account for internet merchants to facilitate website credit card processing
• You process less than $20,000 per month
• Your average ticket size is less than $50
• You have a low chargeback ratio
• You operate within a low risk industry
• You are incorporated in a low risk country

Low Risk vs. High Risk Merchant Accounts

A high-risk merchant account provider, it is important to know if your business might be classified as high risk. There are many differences between a low risk merchant account vs. high risk merchant accounts business when it comes to setting up merchant accounts, so if you are not prepared you may find yourself having trouble getting the services you need. With this in mind, consider the differences between low risk and high risk companies and you will be better prepared to move forward.

Common Low Risk Industries

When you choose Merchant Stronghold for your Low Risk Merchant Account you get an Affordable, Point of Sale or E-Commerce Solution with Fast approval and you can start receiving payments from almost all major cards and from Checks as well. You not only get these things but you get a dedicated customer support and assistance for the desired growth of your business.

Best Telemarketing Business Expect From Merchant Account Services In USA

World is getting closer and closerby the day when we talk about online business and telemarketing. It has become far easier for customers to buy or order things online irrespective of their geographical location until and unless the merchant is high-risk account holder. Market place have extended beyond limits and instead of buying a shop/store and sitting there throughout the day to sell your product and services, all you need is a system witha website to market your product. Nowadays, you can buy things online or through telemarketing at your convenience, without wasting your time and being present physically in the shop. Now let us understand the term telemarketing.

Telemarketing Business

It is a method where you can market your product directly either over phone or web conferencing, which is scheduled on a call. In this marketing method, sales person tries to convince prospective customers to buy a product or service that business is providing over phone or during conference. For operating such type of business and carry out financial transactions (where most of the transactions are carried out through credit card), business or merchant needs a merchant account.

Merchant account

It is a type of bank account, which is required to conduct financial transactions by various methods; accepting payment through credit or debit cards or by other means. Merchant account is created under an agreement between business owner and the issuer bank for the settlement of payment done via cards (card transactions). Merchant account is essential for high-risk merchants and is commonly called high risk merchant account. In other words, a high-risk merchant account is an account for processing credit card payments, where the issuer bank has classified the merchant or business as high-risked.

High-risk Merchant

Next thing that comes in our mind is what is the meaning of a high-risk merchant. Issuer bank defines whether a merchant account or the business is high risk or not depending upon the number of chargebacks and the type of industry. High-risk merchant in telemarketing business faces a lot of struggle in getting approval for a merchant account, but if they succeed in getting one, it will enhance the sales, as they will be able to accept credit card payment from their customers present all over the world.

Advantages of merchant account service

• If a merchant gets approval for a high risk merchant account, a wider range of support service is given to the merchant for a smoother and efficient workflow. One of the main services provided is virtual terminal. It is proven to be very beneficiary for high-risk merchants.
  
  
• Once the merchant account is approved, a telemarketer will not only be able to accept the payment through credit card but also,do financial transactions telephonically.
  
  
• It will help you bring the customers around the world under one roof as it will allow them to accept all the major currencies and credit cards.