High Risk Merchants Archives - The Future of Payment Processing is Here!

August 6, 2018August 3, 2018

Simplified Compiled High Risk Merchant Reports

The lack of credit card processing options for high risk merchants is frustrating. When the only high risk merchant accounts available are themselves riskier prospects, it doesn’t exactly help decrease that risk. High risk merchant accounts should give merchants the tools that help them understand their business, decrease their costs, understand high risk merchant customers, and lower their risk.

Better Reports for High Risk Merchants

This is one of the goals of Y2Payments’ Conduit Reporting system. It puts everything together in one place so that you can easily track how payments are processed and reconciled. Payments can be run over six different channels, but will all show up on a single report. This includes credit, debit, ACH/EFT payments.

These are the kinds of tools and reports that should be normally provided to high risk merchant accounts. Yet there’s an attitude that this extra work shouldn’t be done for high risk merchants? And why not?

When information can be compiled and broken down in high risk merchant reports, you have a better chance to understand your customers, their spending habits, and when and where chargebacks happen. This can help you make more informed decisions. That helps decrease your risk as a business over time.

Why shouldn’t Y2Payments perform the back-end work and provide you the reports that can help you run more efficiently and effectively. Isn’t in Y2Payments’ interest as well as yours to help you decrease the risk you take?

Saving You Time and Stress

High risk merchant reports are easily downloaded, and they can be tailored to match your organizational structure. This saves you time from having to re-organize or re-compile the information. It already comes arranged how you’ve instructed. These reports and the Y2Payments Conduit come with robust research tools that help you break down the data and analyze it all in one place.

Automating the delivery and tailoring the structure of these reports saves you time and helps avoid potential errors or oversights by giving you simple, straightforward access to all your data in one place. High risk merchant customers aren’t understood all that well, and it’s time they are. It’s also time that high risk merchant payment processors started seeing the wisdom in helping high risk merchants lower their risk.

July 26, 2018August 3, 2018

Reviews for Best High Risk Processors

best high risk processors reviews y2payments

Many types of high risk merchants face difficult choices when it comes to payment processing. High risk merchant accounts aren’t often offered the same kinds of credit card processing deals that other businesses get. This often relies on antiquated ideas of high risk merchants that no longer hold true in today’s world. The best high risk processors are able to offer many of the same features and advantages that other processors would give to other businesses.

High Risk Merchants are Just as Hard Working

Y2Payments has really asked itself over the years, “What are high risk merchants?” These are run by business-people who work just as hard and just as effectively as so merchants who take on lower risk. In fact, high risk merchants often know that they take on added risk and put in the extra effort to ensure that they don’t fail. That shouldn’t be looked down on.

Y2Payments Reviews

Quoting a few reviews Y2Payments has gotten can help different types of high risk merchants assess how our approach to high risk merchant accounts focuses on simplifying implementation, giving you more control over data, and lowering your risk:

“The Interchange Pass Through saved me a boatload of money.”

This is a form of credit card processing pricing that allows the real cost or processing to simply be passed directly to your business. Cutting so much of the overhead results in substantial potential savings.

Lowering Your Risk Lowers Ours

“Love having one consolidated report. This is a huge time saver and it even shows our various customer relationships, tailored to our organizational structure.”

You don’t get this kind of reporting with more traditional options. This can be key to helping you understand your business. If high risk merchant accounts really are so “high risk,” then it serves Y2Payments as well as your business to make sure you have a full grasp of the customer data that’s available. After all, when you have that in your hands and can make decisions with it, it lowers your (and our) risk.

“Y2P handles all the technical stuff, including gateway integration.”

“Zero implementation expense. Recurring billing is a breeze to setup and every option imaginable is in the payment plan module.”

This is an important facet as one of the best high risk processors available. We need to make your integration and implementation as easy as possible. Your risk, and the risk we take, is lowered when you have a full grasp and control over processing and reconciling transactions.

To learn more about how Y2Payments can help you, regardless of what your industry or current risk profile, contact us today.

June 8, 2018June 27, 2018

Getting a High Risk Merchant Account

high risk merchant account processor y2payments

If your business has been deemed high risk, you can find getting a merchant account difficult. A high-volume business or a business with low processing rates can get more generous terms than others. Your own personal financial history can also come into play. Some processors will charge you high rates; others will simply refuse you. How do you get high risk merchant account?

What are High Risk Merchants?

First, let’s iron out the definition of high risk merchants. Processors will judge on a number of factors, including:

• high rate of chargebacks
• past fraud history
• questionable product legality
• questionable marketing habits
• a history of high-cost sales
• personal credit history
• offshore headquarters

Some of these can hit businesses that don’t deserve to be rated in such a way. Types of high risk merchants include companies that deal in business-to-business sales. These have high-cost sales and may have periods of time where they see high chargeback. There are many products legal in some states and illegal in others – these can impact product legality and marketing habits.

Types of High Risk Merchants

Airplane charters, attorney services, telecom companies, furniture dealers, legitimate e-book or streaming platforms, and even lingerie stores can all be marked as high risk merchants through no fault of their own.

Now that you understand some types of high risk merchants and why you might fall into that category, you need to know how to secure a high risk merchant account. These will not always have favorable terms, and they can make you deal with hidden fees or exorbitant rates. None of that is fair.

A Better Alternative for Payment Processing

It can be advantageous to seek out a more modern solution. Interchange plus pricing is a model that offers up-front, predictable fees. It doesn’t bundle rates or qualify different levels or types of charges. There’s no three-tiered system that punishes certain businesses. It’s simpler to deal with. Because so many businesses qualify as high-risk unfairly, we have a great deal of training and experience in handling high risk merchant accounts through a lower risk system.

Let’s face it. If you have to ask, “What are high risk merchants?” chances are you aren’t one. Small businesses, business-to-business dealerships, attorneys, specialty stores, small platforms fighting against larger competitors, and many others shouldn’t have to face such an uphill climb when it comes to fair payment processing.

To learn more about how Y2Payments can help your company, contact us today at 888-693-1850.

May 10, 2018

What Are Common High Risk Merchant Industries

high risk merchant industries y2payments

Ever been denied the opportunity to work with a credit card processor because you’ve been deemed a high risk business? You’re not alone. Many companies deal with the same label every single day, and often it’s a label that comes with very high fees and frustration. Wondering why you’re considered a high risk merchant account? There could be a number of different reasons, but in some cases, it’s the industry in which you work. There are a number of high risk merchant industries.

What Are High Risk Merchants?

Generally credit card processors consider industries high risk if their services or products have a history of excessive charge backs. Similarly, industries with services or products that have longer chargeback liability periods, like annual memberships, end up with that same high risk label. Sometimes, it’s just the reputation of the industry. Take a look at a few types of high risk merchant industries:

• Nutraceuticals
• Timeshare and Travel
• Gambling
• Firearms and ammunition
• Adult Products
• E-cigarettes

There are other risk factors as well. If you do business outside the United States routinely, for example, you may end up with a high risk label. If you’re not in a high risk industry, but you work with high risk clients, that could also mean a similar label. Bankruptcy attorneys, for example, often end up with a high risk label, as do bail bondsmen.

You Can’t Change Industries, So Now What?

If you love what you do, and you don’t want to change industries, you’re not out of luck just yet. There are still a few things you can do to get great rates. The single best first step you can take, though, is to contact us. Y2Payments offers processing services to companies in a variety of industries, even those deemed high risk by so many other companies.

To learn more about what we can do to help, give us a call at 888-693-1850.

March 29, 2018April 10, 2018

Fighting the High Risk Merchant Account Label

It’s happened to many businesses. Don’t worry – it’s not just you. You’ve applied with a few credit card processing companies, and time after time, you’ve been turned down. Endlessly, the label “High Risk Merchant Account” has been thrown around in the paperwork. How can you dump that label for good and begin processing your customers’ credit cards? It’s easier than you think.

Understanding the Label

A high risk merchant account is one that the processing company doesn’t trust. There could be a number of reasons for a label like this one. It’s possible the processing company is just a bit risk averse. It could also be the industry you serve. Non-traditional sales and marketing tactics can make a company concerned about your ability to do business.

Working within an industry that has a high instance of chargebacks may be the key behind the label too. Adult entertainment companies, for instance, are often labeled that way. Gaming companies are too. And collection agencies. One other reason you may have gotten that label is your own personal credit profile. If you’ve worked with a processor in the past and gotten a high number of chargebacks or you simply have bad credit, a traditional processing company may not be willing to work with you.

Start Doing Business Now!

Fortunately, the label doesn’t have to stay with you for very long. Even if you’ve been turned down by several companies, it is possible to move forward and begin processing your customers’ cards right away. Y2Payments specializes in working with customers who have been previously labeled as high risk by other processors.

The Future

To avoid a label like “high risk” in the future, there are some steps you can take. Working with Y2Payments is a good step forward, but another one is to ensure that you avoid chargebacks if it’s possible. You lose profit. You lose merchandise, and you’re responsible for the chargeback fee. it really is a lose-lose situation, and ensuring that it doesn’t happen to you is a must in the world of credit card processing. And Y2Payments has an exclusive chargeback handling algorithm that can eliminate them.

To learn more about how we can help, no matter what your industry or current risk profile, contact us today.