How to choose the best company for merchant accounts
When it comes to choosing a credit card processing company for your high-risk business, there are several key questions you should ask to ensure you find the right partner. Do your due diligence when you call.
Here are some great questions to ask before making your decision:
It’s crucial to work with a credit card processing company that has experience with your industry and the unique challenges it presents. Make sure to ask about their experience working with other businesses in your industry and what strategies they employ to mitigate risk.
High-risk industries are often the target of fraudulent activity. Your payment processor should have advanced security measures in place, such as encryption and tokenization, to protect against fraud and keep sensitive data secure.
Make sure the credit card processing company you choose supports the payment options and currencies your business requires. This is especially important for businesses operating in global markets or accepting payments from customers in different countries.
Chargebacks can be a significant issue for high-risk businesses. Ask the payment processor about their chargeback management process and how they handle disputes. Look for a partner with a proven track record of effectively managing chargebacks and minimizing their impact on your business.
High-risk businesses often face higher transaction fees and processing rates. Make sure to ask about the payment processor’s pricing structure and any additional fees or charges. Look for a partner with transparent pricing and no hidden fees.
Choosing the right credit card processing company is critical for the success of your high-risk business. By asking these key questions, you can ensure you find a partner that meets your specific needs and helps you mitigate risk while maximizing sales and profits.
Plan B Payment Processing offers a complimentary consultation with a real human. Get in touch today.