What makes penny auction merchants high risk?
Acquiring banks have many reasons to label your penny auction business as “high risk,” including:
- High chargeback and refund rates
- Credit card holders are not present to sign for their purchases
- Penny auction websites may be perceived as being similar to online scams or frauds.
- If you have limited or no credit card processing history, your risk profile goes up even further.
Because of these risk factors, no U.S. banks will currently approve applications for penny auction merchant accounts.
Through our established network of offshore banks, Instabill offers penny auction merchant accounts with all the features you need to run a profitable online auction website–and without restrictive trading conditions or prohibitively high fees.
- Real-time credit card processing to keep up with your customers’ bids
- No volume caps–so you can stop worrying about high volume transactions
- Offshore and multi-currency processing for your international customers
Online credit card processing for your penny auction business has never been so easy! Want to learn more about how you can apply for a penny auction merchant account? Visit us at Instabill.com.