For a high risk business to accept credit cards online, it takes dedicated research to find the best payment processors. There is no merchant account provider in the payments market today that can offer an all-encompassing solution or approve every high risk merchant or industry. Acquiring banks only work with certain industries and not others.…
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Online Payment Processing: 3 Instances When Merchants Don’t Get Why They’re High Risk
Through providing online payment processing solutions for nearly two decades, we learned very early on that educating merchants is part and parcel of delivering quality services. Not that we mind. It’s not uncommon for a merchant to be aghast at being classified as high risk – we see it as an opportunity to educate, not…
Online gaming merchant account: Why it’s considered high risk
When we receive an inquiry for an online gaming merchant account (as in video gaming and not gambling), the merchant is often surprised and confused that his industry is regarded as high risk by acquiring banks. It takes a few minutes of explaining, but any confusion shortly turns to perfect sense to the merchant. Many…
Domestic merchant account rolling reserve: When it’s a necessity
A rolling reserve with an offshore merchant account is a guarantee. A domestic merchant account with a rolling reserve, however, can be somewhat of a gray area. Rolling reserves, in general, are imposed upon a high risk merchant to allow the acquiring bank to safely manage the risk of offering payment processing services. There are…
How fraudulent merchants disguise their industries to get a merchant account
It is no secret that high risk merchants of many industries often have trouble applying to get a merchant account. To some banks, the risk is not worth the reward. Other banks and payment processors – such as Instabill – feel the opposite. Embracing high risk industries also means embracing the byproducts that come with…
The pitfalls that come with travel and tourism merchant accounts
Among the many industries for which we offer high risk merchant services, travel and tourism merchant accounts seem to elicit the most questions and, truth be told, bewilderment. Many merchants, particularly startup travel merchants, are often stunned when told that travel and tourism is an industry laden with risk. Hence, not every acquiring bank offers…
Payment processing for CBD oil – Instabill can help
If we had to choose a high risk industry for which we get the most inquiries lately, it’s payment processing for CBD oil. The popularity of industries fluctuates. We used to receive many calls about online tech support (an industry plagued by chargebacks and fraud) and e-cigarettes (new regulations), which have since become somewhat difficult…
This high risk merchant account provider listens (but offers no guarantees)
As a high risk merchant account provider, oftentimes we receive inquiries from merchants who have been placed on MATCH, the Member Alert To Control High Risk Merchants file (also known as the Terminated Merchants File, or TMF). Believe us, the MATCH list is a distinction merchants want to avoid at all costs. Think of the…
Need a high risk merchant account? We need to know 5 things
Practically all day, every day, we speak with merchants who need a high risk merchant account. Off the bat, we’ll start asking questions about their business to get a better feel for what the best possible payment processing solution is for them. Instabill has been in the business of providing high risk merchant accounts for…
Virtual Terminal Merchant Accounts: Why Every Business Needs One
We don’t do it often, but we’re going to toss our opinion out there. We think every merchant – e-commerce and point of sale – should take advantage of virtual terminal merchant accounts. In the past, we’ve blogged ad nauseum about how every business – e-commerce and brick and mortar – should offer check solutions…