Just Acquaint Yourself about the Possibilities What To Do If You Have a High Risk Account? Are you perplexed that why your account is high risk merchant account? Well, there are a number of reasons behind it. For example, a huge direct response trades are poorly planned. They are started by people very frequently on restricted budgets, with middling products, and inadequate customer service. There is rarely a strategy for managing growth, and tackling with customer service for keeping chargeback low.
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First of all, you have to be sure about your team. Just keep a record of your achievements, executive summaries, don’t forget to highlight any experience related to your business and transactions, point out the organizational diagram and everything that may lend credibility to you. Remember, all this is being done for processor to lessen risk.
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Talk about your experience and history. Yes, just demonstrate the span of time you have been in the business and any direct experience you and your staff has been dealing with credit card transactions. Like chargeback’s, refunds, fraud management etc.
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You can bring to light your personal and business credit history. Don’t forget to tell about the rating you have been getting.
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Remember, the more cash is involved the more the merchant processor gets risky. For example, high volume from manifold individuals shall definitely increase risk of fraud.
More to maintain track of and better chance of something sliding through the cracks. -
You have to be careful about fraud risk. This thing is especially vital with such type of business. You have to introspect that how are you going to manage it? Do you possess systems in place for rapidly identifying and preventing frauds?
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You have to extensively talk about your products and services. For example, what are they all about? How the products get delivered? What is the supply chain you possess? What do you do to track fulfillment?
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Of course, technology you possess will definitely have a space on screen. You have to speak about your call center, fraud controls, servers and data storage, data theft controls and much more.
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What about Contingent Liability Risk? What are you doing about lifetime guarantees, calamity and natural disasters like flood, fire, earthquake, theft, employee sabotage?
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It is also important that you have an answer to the question that how do you manage your growth and success?
Thus, if you have a High risk merchant account, just relax and calmly think about these points. You have to make the best out of the present situation and showcase your credibility.
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