Understand the Low Risk merchant
Low Risk Category before you apply it at the bank for a merchant Account because merchants in our payment processing world are categorized under low-risk, medium-risk, and high-risk categories. There are a number of points or reasons concerning which any business can be classified as Low Risk or high risk or medium risk Business and for an example while reviewing the business it is reviewed that how much risk is involved in the business, what is their risk level, which is the country wherein they got incorporated and their processing history etc.
Features of a Low Risk Merchant Account
- Merchant account to accept ACH, eCheck and credit card payments
- A merchant account that provides an opportunity for real-time processing of payment
- Merchant account for secure and easy processing of payment
- Merchant account for internet merchants to facilitate website credit card processing
- You process less than $20,000 per month
- Your average ticket size is less than $50
- You have a low chargeback ratio
- You operate within a low risk industry
- You are incorporated in a low risk country
Low Risk vs. High-Risk Merchant Accounts
A high-risk merchant account provider, it is important to know if your business might be classified as high risk. There are many differences between a low risk merchant account vs. high risk merchant accounts business when it comes to setting up merchant accounts, so if you are not prepared you may find yourself having trouble getting the services you need. With this in mind, consider the differences between low risk and high risk companies and you will be better prepared to move forward.
Common Low Risk Industries
When you choose Merchant Stronghold for your Low Risk Merchant Account you get an Affordable, Point of Sale or E-Commerce Solution with Fast approval and you can start receiving payments from almost all major cards and from Checks as well. You not only get these things but you get a dedicated customer support and assistance for the desired growth of your business.