Merchant Stronghold HIGH RISK MERCHANT ACCOUNT
What Industries are Considered High Risk ? Online Merchants may never think their business is risky. The merchant is offering a regular item or service, following every rule and regulation then why it might be viewed as risky? Usually, a merchant discovers that his area of business is considered a medium or high risk business when he tries to set up a payment gateway and is rejected in the first go as he is required of a high risk merchant account. It can come as a significant surprise to many of them.
RECURRING PAYMENTS This would seem entirely basic service nowadays, particularly with a considerable programming going from a single payment model to the Software as a Service (SAAS), which requires a membership/subscription. Obviously having money removed from a client’s record every month can lead to unpleasant surprises.
TICKETS AND TRAVEL SERVICES Mostly the tickets for an event, concert or travel are purchased ahead of time. It could be a week, a month or even a year before leading to an extended period for conceivable chargebacks and refunds. This delay is one reason behind the incorporation in the high risk category. Another reason is the possibility of disappointment when the experience is sour or isn’t as expected. For example, a client goes on a holiday with everything pre-booked and finds it to be the opposite of what was expected, he/she is most likely to request a refund or put a chargeback. Likewise, flights tend to get delayed, matches might get canceled, events might go wrong. It’s difficult to anticipate precisely how any sort of event or holiday experience will go down thus there is always a possibility for disappointment.
DATING WEBSITES Generation X is not only full of love but is obsessed of online world, and thus indulge themselves into online love. A few years ago people were reticent to mention that they used such sites but now it has become a commonplace to talk about one’s experiences on websites and apps such as Tinder, OkCupid or CoffeMeetsBagel. Dating websites give a profitable service bringing people closer. So, why is this business looked upon as a High Risk Business?
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