2. What Businesses are Considered High Risk
▪ Firearms and gun parts
▪ Adult novelty items
▪ Nutritional supplement
▪ Vape, eCig business
▪ MOTO
▪ eCommerce
▪ And many more…
3. What does it mean to be categorized as high risk?
Here are some reasons you might be branded a high risk merchant:
▪ Your services are of dubious authenticity to some (for example, if you’re a
psychic, if or you sell non-FDA-approved nutritional supplements)
▪ It’s hard to prove you rendered your services (for example, because they
aren’t tangible and their effects aren’t immediately apparent)
▪ You have a history of chargebacks (for example, because people may be
embarrassed to reveal they used your services – or, because they forget
they have)
▪ There’s a chance people or organizations could be shunned for doing
business with you (for example, if you sell tobacco, vapes, adult novelties,
pharmaceuticals, firearms…
4. What is Operation Choke Point?
▪ A legislations that went into
effect late 2014 that made it
harder for high risk businesses to
accept credit cards as a form of
payment.
5. Can banks terminate your account?
Short answer:
▪ Yes!
What can you do?
▪ Search for high risk processors
7. Get ready!
▪ Prepare your paperwork
▪ Submit your history
▪ Use an accounting system;
Simply using an accounting system,
like QuickBooks, allows you to
manage your finances better and to
get qualify for lower processing rates
Step 3
Use an accounting system
Step 2
Submit your business info
Step 1
Find a high risk processor for YOUR industry
9. Avoid ChargeBacks!
▪ Require more info at the time of sales
▪ Pass enough info to customers’ statement to avoid confusion
▪ Beef up your security
10. Stability
History
Charge-Back management
PCI Compliance
Online Gateway
24/7 Support
What to look for?
Getting a new high risk merchant account
can be difficult and time consuming. So, be
sure to start with a good research and a full
understanding of what you need.
In general, every high risk business needs to
make sure that the processor understands
their business and have experience
handling such businesses.
11. Click here to learn more
https://CenturyBizSolutions.net