If you run an online business, you know that obtaining a merchant account can sometimes be a hassle. Different acquiring banks have different standards when accepting merchants, and your e-commerce risk factor could determine what type of account you can get with a bank. Therefore, it is important for all merchants to know how to determine their risk factor, and what options they have because of that factor.
Below are the characteristics of a low risk business:
Below are the characteristics of a medium risk business:
Below are the characteristics of a high risk business:
Click each section to expand and learn more about determining your e-commerce risk factor.
If the characteristics of your business fall into one or more of the above categories, there is no need to worry. E-Commerce risk factors are different with each bank and there are custom solutions for most merchants. The above characteristics are merely guidelines to follow when determining your risk factor.
There are a few other things you must consider when searching for a merchant account. In addition to risk factors, other features about your company and business history may impact your ability to find credit card processing solutions. Be ready to answer these questions when applying for merchant services:
At Instabill, we’re partnered with a vast array of acquiring banks around the globe. This gives us the ability to deliver custom solutions for low, medium, and high risk merchants. If you know your e-commerce risk factor and need fast credit card processing solutions, contact us today and get started on your free merchant account application. Even if you are unsure of your risk factor, one of our merchant services experts will be able to help you. Simply click the button below to get started, or call 1-800-318-2713 today.